Tag Archives: redundancies

Tech jobs continue to tank

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Revelations 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”

Important Takeaways:

  • More than 219,000 global tech workers have lost their jobs this year
  • 2023 has easily surpassed 2022 for global tech redundancies
  • More than 219,000 global technology-sector employees have been laid off since the start of 2023, according to data compiled by the website Layoffs.fyi.
  • That number has gone up more than eightfold since mid-January, the website noted.
  • The data show that 2023 has easily surpassed 2022 for global tech redundancies, with 869 tech companies laying off 219,809 employees since the start of the year. Last year, 1,024 tech companies laid off a total of 154,336 employees, according to Layoffs.fyi.
  • Earlier in the month, Insider reported that Oracle Corp. (ORCL) had laid off hundreds of employees
  • In early June, Spotify Technology SA (SPOT)announced plans to lay off approximately 200 people, or 2% of the company’s workforce.
  • Related: Robinhood is laying off around 7% of staff, Wall Street Journal reports
  • Chinese tech giant Alibaba Group Holding Ltd.’s (9988.HK) cloud unit also started the process of cutting 7% of staff, Barron’s reported in late May, citing a source familiar with the matter. News of the job cuts was first reported by Bloomberg.

Read the original article by clicking here.

PepsiCo to lay off hundreds of workers may be small but points to “corporate belt-tightening” goes further than Big-Tech

Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • PepsiCo layoffs point to corporate belt-tightening extending beyond big tech
  • In a memo obtained by the Wall Street Journal, the company that markets everything from Lay’s potato chips and Quaker Oats to Gatorade energy drinks told staff that cuts would disproportionately hit its beverages business as snacks already undertook a number of redundancies.
  • Hundreds of jobs will be eliminated, one of the people told the Journal, with company sites in Purchase, N.Y., Chicago and Plano, Texas, likely to be most affected.
  • The layoffs while relatively small are notable in that recent headline-grabbing examples of corporate belt-tightening thus far affected chiefly the tech sector and digital asset firms.

Read the original article by clicking here.