9 Major Layoffs in 2023



Disney to cut 7,000 jobs (3.6% of workforce) to save $5.5 billion in costs; following previous cuts by Warner Bros Discovery and Netflix in 2022, as CEO Bob Iger outlined the plan during Q1 earnings call.



Amazon is cutting 18,000 jobs, around 6% of corporate jobs, following earlier layoffs in November. The cuts amount to less than 1% of the global workforce.



Microsoft plans to cut 10,000 jobs, equivalent to about 4.5% of its global workforce of 220,000, due to global economic stagnation, according to a blog post by CEO Satya Nadella. The company has a market value of $1.78 trillion.



Alphabet, Google's parent company, to cut 12,000 jobs (6% of global personnel) due to ill-hiring decisions over the past two years that aimed to match growth periods, according to CEO Sundar Pichai's memo, following a decision to defer a portion of employees' January bonuses.



Salesforce plans to lay off around 8,000 employees, equivalent to 10% of its workforce, due to a challenging environment and customers' measured purchasing decisions, according to a memo by CEO Marc Benioff.



IBM announced the layoff of around 3,900 employees, or 1.5% of its workforce, related to the spinoff and sale of two business units, Kyndryl and Watson Health, but will continue to hire in higher-growth areas.



Spotify announced on Jan. 23 that it would cut 6% of its global workforce, around 400 employees, as part of a management reshuffle to bring costs more in line with revenue growth.



Philips announced it is cutting 6,000 jobs or around 8% of its global workforce, with affected staff receiving €300 million in severance and termination-related costs, due to rising costs across the company and the world and to make the firm more agile.



BlackRock Inc. will cut 500 global jobs due to a restructuring plan at the end of 2022, affecting less than 3% of its 19,900 employees, as the world's largest asset management company reported a decline in revenue and earnings per share.



Coinbase announced on Jan. 10 that it would lay off 950 employees, or 20% of its workforce, as part of an effort to reduce operating expenses by 25%. This is the second round of layoffs for the cryptocurrency exchange platform, which had also let go of 18% of its employees in June.

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