Am I overthinking or are the layoffs expected to continue with WLB at these big companies taking a hit? Tech layoffs have run rampant in recent months. February 21McKinseys job cuts could affect more than 4% of the companys nearly 44,000 employees, according to PitchBookMcKinsey did not immediately respond to Forbes request for further details, though people familiar with the matter told Bloomberg the New York-based company is expected to conduct the layoffs in the coming weeks. January 26SAP, said it will lay off 3,000 workersaround 2.5% of its global workforcein its earnings call announcing its fourth quarter 2022 results on Thursday, but did not specify where those cuts would be made. It helped for us to pray together. As a company, our success must be aligned to the worlds success.. Just posting this to piss off Microsoft HR, even though I don't work there. Include major successes, and the essential summary information you might include when describing your job to an outsider. MS didnt hire a lot like other companies in the past few years 2. Investors will be watching the company closely to see if it can refocus its efforts on more profitable technologies and products. three months after the social media giant cut 11,000 employees in the biggest round of layoffs in 2022. January 11BlackRock officials reportedly told employees the New York-based company plans to reduce its headcount by 2.5%the company did not immediately respond to a Forbes inquiry for further details, but in an internal memo obtained by Bloomberg, CEO Larry Fink and President Rob Kapito said the move comes amid uncertainty around us that necessitates staying ahead of changes in the market., January 11In a memo to employees, Flexport CEOs Dave Clark and Ryan Petersen announced plans to slash 20% of the companys global workforce (estimated to affect 662 of its more than 3,300 employees, according to data from PitchBook), saying the supply chain startup is not immune to a worldwide the macroeconomic downturn.. So February, by comparison to the brutal month before, seems relatively tame. January 26Software company IBM announced it would slash 1.5% of its global workforce, estimated to affect roughly 3,900 employees, according to CFO James Kavanaugh, multiple outlets reported, as the company expects $10.5 billion in free cash flow in fiscal year 2023. Amazon layoffs. We will continue to invest in our business and hire in key growth areas in the year ahead.". In June, Microsoft slashed its income and revenue guidance, citing unfavorable foreign-exchange rates. Updated: https://blogs.microsoft.com/blog/2023/01/18/subject-focusing-on-our-short-and-long-term-opportunity/ https://www.reuters.com/technology/microsoft-cut-thousands-jobs-sky-new. Not sure if any other org got laid off. / Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. We want to hear from you. March 1Waymos cuts will affect 8% of its workforce, sources familiar with the matter told Reuters and The Information Wednesday, bringing the total number of employees laid off at the company this year to 209, after its parent company Alphabetwhich is also the parent company of Googleannounced a massive round of layoffs affecting roughly 12,000 employees (Waymo did not immediately respond to a request for comment from Forbes). January 26Michigan-based chemical company Dow announced it would cut 2,000 positions globally in a cost-reducing plan aimed at saving $1 billion, as CEO Jim Fitterling said the company navigates macro uncertainties and challenging energy markets, particularly in Europe.. Technology giant Microsoft has sacked around 1,000 people in a fresh round of layoffs, according to US news website Axios. The software maker called for the slowest revenue growth in more than five years in the quarter that ended Sept. 30. January 5Crypto lender Genesis Trading reportedly laid off 30% of its workforce, according to the Wall Street Journal, which spoke to unnamed sourcesthe companys second round of cuts since August, lowering its staff to 145. It seems more like a planned thing that was coming anyway and not due to recession Updates:1. February 27Denver-based software company Palantir Technologies will cut just under 2% of its workforce, even as the company reported a $31 million profit in the last fiscal quarteraffecting as many as 76 of the companys 3,838 employees, according to PitchBook (Palantir did not immediately respond to an inquiry from Forbes). We continue to invest in certain areas and grow headcount in the year ahead." Venture funding is still down year over year, and most companies are still struggling to find capital (unless youre OpenAI, in which case, youre probably not in our layoffs database anyway). I am telling him to stay positive, we don't know why yo. Though many tech firms have reduced their headcount recently, major competitor Apple has yet to announce layoffs. The job losses, first reported by Bloomberg, impact less than 1 percent of the 180,000-strong global workforce, and are said to be varied across geography and job role . Aug 10, 2022, 2:21 AM PDT Image by Alex Castro / The Verge Microsoft is reportedly laying off its team focused on winning back consumers. MS Stocks and financials seem stable than others 3. February 15Accounting firm KPMG could cut 2% of its staff (roughly 700 employees), the Financial Times reported, citing a staff memo from Carl Carande, the vice-chair of the companys U.S. advisory business, who said the cuts are intended to align its workforce with current and anticipated market demandmaking it the first of the so-called Big Four accounting firms to conduct a major round of layoffs amid growing recession fears in recent months. Microsofts stock price fell after the announcement, following the markets downward trend for the day. Microsoft is cutting hundreds of contractors amid layoffs and a hiring freeze. Some people may find a new job within a week, but other people may be out of work for months. He also published a memo titled Focusing on our short- and long-term opportunity., In the memo, Nadella first discussed the turbulent economic times the world is experiencing and referenced the birth of the next major wave of computing as artificial intelligence (AI) continues to advance. Mass layoffs are one of the more painful consequences of a looming economic recession, and the high-flying and well-funded tech industry isn't immune. All Rights Reserved. Microsoft is reportedly making anywhere up to 1,000 redundancies, as part of a previously announced "restructuring." The layoffs affect Microsoft vets like Greg Chapman and KC Lemson, and cut . Moving forward, Microsoft will look to focus its resources on areas of growth while reducing its investments in other areas. Technology companies are often viewed as volatile and reliant on borrowed money or other influxes of capital. Heres what you should know, and how Q.ai can help investors (and, in this case, tech investors) amidst mass tech layoffs. I wasnt sure if notifications are until March or if impacted employees leave by March end. Laid off employees took . January 9Artificial intelligence startup Scale AI announced plans to cut one fifth of its staff, CEO Alexandr Wang announced in a blog post, saying the company grew rapidly over the past several years, but faces a macro environment that has changed dramatically in recent quarters.. Why it matters: The move is yet another example of large tech companies cutting jobs after earlier moving to slow or freeze hiring as the broader economy cools. HR will probably mass flag this post and get it removed. February 1FedEx announced it will slash 10% of its officer and director team and consolidate some teams and functionsfour months after the delivery giant unveiled plans for a hiring freeze and that it would close 90 office FedEx Office locationsin a move CEO Raj Subramaniam said was necessary to make the company a more efficient and agile organization (FedEx employs roughly 547,000 people, according to PitchBook). HoloLens hardware towards commercial customers, Microsoft 365 subscriptions for consumers, Mark Zuckerberg says Meta now has a team building AI tools and personas, Whoops! I stopped believing in it because I know I'm just a number to any company I work for. Microsoft President Brad Smith joins 'Squawk on the Street' to discuss investment in ESG strategies, tech companies cutting labor forces, and Microsoft's investment in fundamental technology . Rivals like Google, Amazon, Facebook have all acquired big consumer apps like YouTube, Twitch, and Instagram, and Microsoft is still trying to align its consumer offerings. Fast-forward to February: Large tech companies only made up about 82% of layoffs still the majority by a long shot, but we saw worse in November, when 88% of workforce cuts were driven by public tech firms. Like G announced 12k layoffs and immediately informed almost all effected employees. At the extreme end of the risk spectrum are contract employees. Often people think of staff services like finance, facilities, or human resources when they think of areas of layoff risk. New York, Rumor going around there is one more layoff at MS on 2/6. Some, such ase Netflix, Twitter and Peloton, conducted three rounds of layoffs over the course of 14 months. Microsoft: Cut nearly 1,000 employees. January 31Publishing giant HarperCollins announced it would slash 5% of its staff in the U.S. and Canada as the publisher struggles with declining sales and unprecedented supply chain and inflationary pressures; HarperCollins is estimated to have roughly 4,000 employees worldwide, with more than half of them working in the U.S., the Associated Press reported. Tech companies arent breaking up with their employees at the scale we saw in January, which was the biggest layoff month since we began tracking job cuts data in 2022 with over 65,000 layoffs. April 27, 2022: Robinhood, the popular investing app, lays off 9% of staff. Azure, Webxt, etc? Axios, which reported the layoffs earlier on Monday, said the cuts impacted fewer than 1,000 people and cited an unnamed person. These layoffs come after all three businesses added to their payrolls during the pandemic years. https://blogs.microsoft.com/blog/2023/01/18/subject-focusing-on-our-short-and-long-term-opportunity/ My hands are shaking typing this.. stay strong folks. They want to remain flexible in case of a downturn. Judging your layoff risk in these inbetween roles can be difficult. its first round of layoffs . Is it for the next round of layoffs? Looks like most affected are consultants and project managers.3. A new round of layoffs happened at Microsoft today in an org called MLX. Google declared layoffs after Microsoft worldwide but the Indian list was released before Microsoft(who hasn't declared any, https://www.businessinsider.com/microsoft-layoffs-widespread-xbox-azure-government-2022-10 Seems like the usual msft trimming. January 9Goldman Sachs could lay off as many as 3,200 employees in one of the biggest round of job cuts so far in 2023 as the investment banking giant prepares for a possible recession, multiple outlets reported, citing people familiar with the job cuts. Bloomberg reported on the move earlier. In fact, for U.S.-focused startups, February was the . I don't care if I have to become a delivery driver or start doing Lyft and Uber rides. The move aligns with efforts at technology companies big and small to lower costs. For U.S.-focused private companies, February was the second-largest layoff month after November. The cuts occurred across a variety of levels, teams and parts of the world. Download Q.ai today for access to AI-powered investment strategies. With so many big companies like Amazon, Meta etc announcing layoffs, i wonder if Microsoft will follow? WATCH: Microsoft's Yusuf Mehdi: If customers want a particular chip, we will support them. Startups in cyber, defense and biotech all saw some large rounds in a week that for once was not dominated by artificial intelligence. He cut 5% of his workforce. Three days before its Q4 earnings call, Twilio announced it would lay off 15,000 people. Good news: February layoff numbers for the U.S. tech sector were lower than those in January. #layoffs #micr, ~45 people laid off today from Microsoft Research in Redmond. Thats because the startup situation hasnt really changed much. 2023 Vox Media, LLC. Microsoft Layoffs - Blind Read the latest insights, reviews, and recommendations about Microsoft Layoffs from 5M+ verified employees at top companies. February 9News Corp, the owner of the Wall Street Journal, New York Post, publishing giant HarperCollins as well as outlets in the U.K. and Australia, plans to slash its workforce by 5% this year (roughly 1,250 employees), the Journal reported, following a 7% revenue drop to $2.52 billion over a 12-month period ending in December. TC 280-300k depending on stock, https://www.msn.com/en-us/money/markets/more-microsoft-job-cuts-to-impact-hundreds-more-eastside-workers/ar-AA17locc Is it true they are doing more layoffs in March and April out of Washington Which team are getting effected @microsoft, Hi, does anybody know if Microsoft will notify impacted employees by Jan end or do the actual notifications continue until March?