Many of the world’s biggest companies have announced layoffs in quick succession amid reports of an impending recession.
So here is a detailed look at the companies that have announced layoffs this year.
Byjuice
ByJuice, which has emerged as the world’s largest online education company, recently roped in Lionel Messia as its brand ambassador. But now they have announced that they are going to lay off 2500 employees to cut their costs. Baijus also informed SEBI about the termination of employees.
Microsoft
Microsoft announced plans to lay off 1 percent of its workforce in October. As a result, up to 1000 employees have lost their jobs.
Stripe
Online payments company Stipe announced in November that it would lay off 14 percent of its workforce. It also said that there will be 14 weeks of severance pay for the retrenched employees.
Snap
Photo and video sharing app Snap has announced plans to lay off 1000+ employees, accounting for 20% of its workforce.
Netflix
Online OTT company Netflix is set to lay off 450 employees in two phases. Netflix said it made the decision due to a loss of revenue.
Meta
Facebook’s parent company Meta is set to lay off 1,000 employees worldwide. It is said to be the largest layoff in the world.
Elon Musk has announced that Twitter will cut 50% of its workforce worldwide following its acquisition. It is also noteworthy that Elon Musk announced on November 4 that there is no other option but to fire.