The technology industry faces significant challenges, including a difficult economy, the COVID-19 pandemic, and business failures, resulting in layoffs expected to increase in 2023 and accelerate further in 2024. It seems that. We have compiled a list of layoffs. Keep updating. More than 240,000 jobs will be lost in 2023, an increase of 50% from the previous year. While layoffs in the technology sector had previously slowed, they appear to be accelerating again. Tech companies are pivoting from growth to efficiency and cutting staff in the face of challenging market conditions. The biggest layoffs that occurred last week are:
Microsoft will lay off 1,900 Activision Blizzard and Xbox employees Microsoft will lay off approximately 1,900 Activision Blizzard and Xbox employees this week. The majority of roles being eliminated will be from Activision Blizzard, but some Xbox and ZeniMax employees will also be affected. The layoffs represent about 8% of Microsoft’s gaming division, which employs about 22,000 people.
The layoffs were confirmed in an internal memo from Microsoft Gaming CEO Phil Spencer obtained by The Verge. Spencer said in the memo that Microsoft Gaming and Activision Blizzard’s management teams are working together to align a strategy and execution plan with a sustainable cost structure that supports the growth of the company’s business.
Blizzard President Mike Ybarra and Blizzard Chief Design Officer Allen Adham are leaving the company as part of the layoffs. Microsoft is expected to name a new president of Blizzard next week. Blizzard’s previously announced survival game was canceled as part of these changes. Microsoft plans to move some of the people working on it to one of several promising new projects Blizzard has in the early stages of development.
eBay announces second round of layoffs. 1,000 roles to be cut eBay plans to cut about 1,000 jobs, or 9% of its workforce, as expenses are growing faster than business. Jamie Iannone, the company’s CEO, said eBay will streamline its teams and improve the end-to-end experience for customers around the world. eBay also plans to cut some “alternative labor” contracts. Managers will notify employees whose roles have been removed. To ensure the privacy of these conversations, eBay staff will work from home on Wednesdays. Last February, eBay laid off 500 employees, 4% of its workforce.
Flipkart to cut 1,00 jobs as part of restructuring Flipkart, the Indian e-commerce giant owned by Walmart, has laid off 1,000 employees, about 5% of its workforce, as part of its annual performance review. Money Control reported that the company plans to do so. The company has approximately 22,000 employees. The report notes that this workforce reduction is a normal process.
Swiggy is preparing for a second round of job cuts ahead of its IPO. 400 job cuts to be made Food technology giant Swiggy, which is preparing to go public, is reportedly planning to lay off 400 employees as a restructuring measure. This is the second round of job cuts for the Bangalore-based company. The company had laid off 380 employees and closed its meat market in January 2023 to cut costs. The layoffs are expected to affect around 7% of Swiggy’s workforce, which currently has around 6,000 employees. Insiders say technology, call centers and corporate teams are likely to be most affected.
Riot Games, developer of Valorant and League of Legends, will cut 530 jobs Riot Games, developer of League of Legends and Valorant, will cut approximately 530 jobs, or 11% of its staff. The Los Angeles-based company, owned by Tencent, said the decision to cut jobs was critical to Riot’s future. CEO Dylan Jadeja explained that costs have gotten out of control due to aggressive expansion, changing operating models and adding new talent. Riot will prioritize “core” games, reduce team size for “Legends of Runeterra” and scale back “Riot Forge”. Jadeja emphasized that this decision was necessary for the future of the company.
TikTok announces 60 layoffs TikTok has decided to lay off a number of employees from its advertising and sales departments, joining several other tech companies that also cut jobs at the beginning of the new year. . A TikTok spokesperson confirmed that the social media platform will be laying off 60 employees. The reason for the dismissal was not disclosed. However, the company said affected employees can apply for other open positions on TikTok, which currently has more than 120 similar job postings.
Microsoft will lay off 1,900 Activision Blizzard and Xbox employees Microsoft will lay off approximately 1,900 Activision Blizzard and Xbox employees this week. The majority of roles being eliminated will be from Activision Blizzard, but some Xbox and ZeniMax employees will also be affected. The layoffs represent about 8% of Microsoft’s gaming division, which employs about 22,000 people.
The layoffs were confirmed in an internal memo from Microsoft Gaming CEO Phil Spencer obtained by The Verge. Spencer said in the memo that Microsoft Gaming and Activision Blizzard’s management teams are working together to align a strategy and execution plan with a sustainable cost structure that supports the growth of the company’s business.
Blizzard President Mike Ybarra and Blizzard Chief Design Officer Allen Adham are leaving the company as part of the layoffs. Microsoft is expected to name a new president of Blizzard next week. Blizzard’s previously announced survival game was canceled as part of these changes. Microsoft plans to move some of the people working on it to one of several promising new projects Blizzard has in the early stages of development.
eBay announces second round of layoffs. 1,000 roles to be cut eBay plans to cut about 1,000 jobs, or 9% of its workforce, as expenses are growing faster than business. Jamie Iannone, the company’s CEO, said eBay will streamline its teams and improve the end-to-end experience for customers around the world. eBay also plans to cut some “alternative labor” contracts. Managers will notify employees whose roles have been removed. To ensure the privacy of these conversations, eBay staff will work from home on Wednesdays. Last February, eBay laid off 500 employees, 4% of its workforce.
Flipkart to cut 1,00 jobs as part of restructuring Flipkart, the Indian e-commerce giant owned by Walmart, has laid off 1,000 employees, about 5% of its workforce, as part of its annual performance review. Money Control reported that the company plans to do so. The company has approximately 22,000 employees. The report notes that this workforce reduction is a normal process.
Swiggy is preparing for a second round of job cuts ahead of its IPO. 400 job cuts to be made Food technology giant Swiggy, which is preparing to go public, is reportedly planning to lay off 400 employees as a restructuring measure. This is the second round of job cuts for the Bangalore-based company. The company had laid off 380 employees and closed its meat market in January 2023 to cut costs. The layoffs are expected to affect around 7% of Swiggy’s workforce, which currently has around 6,000 employees. Insiders say technology, call centers and corporate teams are likely to be most affected.
Riot Games, developer of Valorant and League of Legends, will cut 530 jobs Riot Games, developer of League of Legends and Valorant, will cut approximately 530 jobs, or 11% of its staff. The Los Angeles-based company, owned by Tencent, said the decision to cut jobs was critical to Riot’s future. CEO Dylan Jadeja explained that costs have gotten out of control due to aggressive expansion, changing operating models and adding new talent. Riot will prioritize “core” games, reduce team size for “Legends of Runeterra” and scale back “Riot Forge”. Jadeja emphasized that this decision was necessary for the future of the company.
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