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Not only Twitter, 7 major tech companies kicked out thousands you might not know

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The global economy is facing a slowdown and there are multiple reasons for this. But any slowdown means companies tend to ease the hiring process, or even freeze it in some cases. The tech industry has been in trouble in the past few months, with most of the giants temporarily halting their hiring plans, while some have been forced to lay off employees. And since most tech companies are based outside of the US, most of the people affected by the economic conditions are from the region.

We all know Twitter is going through its own overhaul after that Elon Musk He finally completed his deal to buy Twitter last month. The platform has reportedly fired 50 percent of its employees from around the world. But Twitter isn’t the only big tech name adjusting its employees. Here are 9 other major companies that have fired thousands of their employees.

Intel Corporation

Intel’s business needs have slowed with the slowdown in PC demand in the past few months. Intel plans to save billions by cutting jobs, and the company has seen a 20 percent reduction in staffing from Intel’s sales and marketing group, according to a recent Bloomberg report. Intel is one of several US-based giants looking to cut their expenses, and these job cuts are part of the process.

Microsoft

With PC sales slowing, Microsoft is another tech company that has decided to lay off its employees. In July, Microsoft laid off 1 percent of its employees, and last month, the company had to ramp up its staff. The latest chapter was related to the slowdown in Microsoft’s software division.

Netflix

The video streaming giant continues to lay the foundation for its growth by adopting newer models and entering new businesses, such as gaming. All of these changes led to the dismissal of about 500 employees in 2022. Netflix Losing customers in the past few quarters, forcing the platform to introduce an ad tier plan that will be rolled out in the coming weeks.

Lift

The taxi-ordering platform has had a hard time since the pandemic, but its business has continued to take a hit, forcing the company to fire more people. Lyft confirmed that about 13 percent, or 700 of its employees, have been asked to leave. The company already had a hiring freeze in September, and this layoff will help the company save money on expenses.

ribbon

Stripe has officially confirmed its layoffs that will affect 14 percent of its employees, which includes about 1,120 employees from the company. Stripe’s CEO claims that the company has outlived itself during the pandemic driving up its expenses, and the ongoing macroeconomics has put these companies in a place that can only be recovered with a layoff.

Explode, Explode

Snapchat’s parent company has shed 20 percent of its employees, bringing the total to 1,000. Snap is also facing the prospect of cutting its expenses due to a slowdown in business. She plans to restructure the employee design that will permanently affect the thousands of people working at Snap.

Seagate

Seagate is laying off about 8 percent of its employees, which comes to about 3,000 employees. The company also cites economic uncertainty as the main reason for the layoffs and also talked about customers reducing their demand while still having extra inventory with its vendors.

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