The New Year 2024 has just begun and already, thousands of tech and startup employees have found themselves unemployed after surviving mass layoffs in 2023 caused by monetary difficulties.
Lay-off Tracking Website
As many as 72 tech companies have laid off as many as 13,420 employees by January 24 as per a lay-off tracking website.
List of companies that gave Pink Slips to their employees
Frontdesk
After terminating more than 200 employees, the US-based online rental startup Frontdesk was the first company in New Year 2024 who start laying off employees. Layoffs were announced in a Google Meet session in a 2-minute call.
Amazon
Amazon’s American streaming platform, Twitch, laying off as many as 500 employees due to concerns about profits as well as executive departures. Reports suggest Amazon also plans to lay from Prime Video as well as Audible and MGM studios near about 100 employees.
Alphabet’s Google is also laying off hundreds of staff from different teams like Voice Assistant Teams, Hardware and Engineering Teams, the advertising sales team, Pixel, Nest, Fitbit, and augmented reality teams.
Meta
Social media giant Meta has shown pink slips to 60 technical program managers giving them a notice period of 60 days to seek alternative roles within the organization and if failed to do would lead to termination.
eBay
eBay plans to reduce its workforce employment by 9%, which is roughly around 1000 full-time employees. Despite the downsizing news, eBay’s stock surged 3% in extended trading.
eBay’s CEO Jamie Iannone, explains that downsizing was a necessary measure due to the company’s expenses and the employee count was more than the actual growth of the business. Jamie also mentioned plans to reduce the number of contracts within their alternative employees in the coming months. Jamie conveyed the news to employees via a letter on the company’s blog according to a report by NBC News in New Year 2024.
TikTok
Short video platform TikTok has laid off 7000 employees with a 60% job cut. Most of them are laid from advertising and sales department. The lay-off is from Los Angeles, New York, Austin, and Overseas.
Discord
Discord has laid off its employees by 17% and tentatively it has impacted 170 employees. The company in a virtual meeting informed its staff that the employees shall receive an email wherein they would know their employment status.
Discord is an instant messaging service company.
Wayfair
Wayfair an online retail company has announced the employment cutoff to 13% of its workforce which gives a count off of somewhere around 1,650 employees.
Niraj Shah, CEO of Wayfair communicated through email where he said, the company is profitable but the team has to work longer and use the assets of the company judiciously.
Riot Games & Unity Software
Riot Games, a subsidiary of Tencent Holdings, a popular gaming company that has under its hood “League of Legends” has revealed it, to laying off 530 of its employees.
Unity software has plans to downsize its team by 1800 which is a part of its “company reset” as mentioned in the company’s email. Unity Software is also a video game software company.
Sam-Altman-backed startup Humane, the smallest workforce company has plans to reduce 4% of its workforce which is 10 employees.
So, here at the beginning of the New Year 2024, we have a very tough time for job holders and tech giants.