Google, Amazon, Microsoft and other technology companies have laid off more than 70,000 workers in the last year.
The tech industry has seen a string of layoffs in the face of uncertain economic conditions.
Google announced plans to lay off 12,000 people from its workforce Friday, while Microsoft said Wednesday that it’s letting go of 10,000 employees. Amazon is expected to eliminate 18,000 employees the largest workforce reduction in the e-retailers 28 year history.
Alphabet, the parent company of Google said on Friday, that it planned to cut about 6 percent of its workforce that is over 12,000 jobs becoming the latest technology company to reduce its workforce because of concerns about a braoder economic slowdown, after a hiring spree during the pandemic.
The Chief Executive Officer of Google, Sundar Pischai explaining the reason for the layoff, said it was part of an effort to refocus on the company’s core business, as well as its realy investment on Artificial Intelligence.
“These are important measures to sharpen our focus, reengineer our cost base, and direct our talent and capital to our highest priorities,” he said.
According to Pischai, “the process of lay off in other countries outside the US will take longer due to local laws and practices.” CNBC reported in November that Google employees had been fearing layoffs as its counterparts made cuts and as employees saw changes to the company’s performance ratings system.
Microsoft: 10,000 jobs cut
Microsoft is reducing 10,000 workers through March 31 as the software maker braces for slower revenue growth. The company also is taking a $1.2 billion charge.
“I’m confident that Microsoft will emerge from this stronger and more competitive,” CEO Satya Nadella announced in a memo to employees that was posted on the company website Wednesday. Some employees will find out this week if they’re losing their jobs, he wrote.
CEO for Amazon, Andy Jassy said the company was planning to lay off more than 18,000 employees, primarily in its human resources and stores divisions. It came after Amazon said in November it was looking to cut staff, including in its devices and recruiting organizations.
Amazon went on a hiring spree during the Covid-19 pandemic. The company’s global workforce swelled to more than 1.6 million by the end of 2021, up from 798,000 in the fourth quarter of 2019.
Twitter: 3,700 jobs cut
Shortly after closing his $44 billion purchase of Twitter in late October, new owner Elon Musk cut around 3,700 Twitter employees, according to internal communications viewed by CNBC. That’s about half the staff. Since then, significantly more employees have quit after Musk changed some policies around working from home and wrote that he expected all employees to commit to a “hardcore” work environment.
In a tweet on Nov. 4, Musk said there was “no choice” but to lay off employees as the company was losing $4 million per day.