(Reuters) – Tech companies, cryptocurrency exchanges and financial firms are cutting jobs and slowing hiring as global economic growth slows due to high interest rates, hyperinflation and Europe’s energy crisis.
In a sign of a grueling second half of the year, growth in the United States, the world’s largest economy, contracted for the second consecutive quarter, while business growth in the eurozone slowed sharply in June due to the rising cost of living.
Company name Release date Effect of suspension
Ali Baba (NYSE: Group March 16 March 16 About 39,000 employees began laying off employees in February. Discuss work
With many business units that month and left
A source told Reuters they had to make specific plans.
Tencent Holdings (OTC 🙂 March 16 10%-15% Headcount at an internal meeting at Tencent at the end of 2021, CEO
Bonnie told what employees the company should prepare for
“Winter,” two sources told Reuters.
Tesla (NASDAQ 🙂 Inc on June 3 nearly 10% in “I have a very bad feeling about the economy,” CEO Elon
Musk, the salaried employee, said in emails reviewed by Reuters.
JPMorgan Chase (NYSE:) & June 22 Over 1,000 “This week’s hiring decision was a cyclical outcome
Company employees change in the mortgage market. ”
Shopify (NYSE 🙂 Inc Jul 26 10% off “Ultimately, placing this bet was my calling to do so and I
CEO Toby Lutke said, referring to a bet
On the post-pandemic growth in online shopping that has worsened.
Netflix (NASDAQ 🙂 17 May 150 posts “As we continue to invest heavily in
June 23 300 business jobs, we made these adjustments so that our costs
Growth in line with slower revenue growth”
The company said.
Coinbase (NASDAQ: Global June 14 1,100 jobs) “It looks like we’re entering a recession after 10+ years.”
Economic boom inc. Stagnation may lead to another cryptocurrency
Winter, and it can go on for a long time,” CEO Brian
OpenSea July 14 20% off “The reality is we’ve entered like never before
The workforce mix of crypto winter and broad macro economy
instability, we need to prepare the company for
The potential for a prolonged recession,” CEO Devin Finzer
Klarna May 23 10% of “Since then (2021) we’ve seen tragic and unnecessary
Ukraine’s workforce war unfolds, shift in consumer sentiment, a
A sharp increase in inflation, a highly volatile stock
market and potential recession”, CEO Sebastian
Robinhood (NASDAQ 🙂 Apr 26 9% of “rapid growth in headcount has led to some duplicate roles
Markets Inc full-time and functional jobs, and more layers and complexity than they are
CEO Vlad Tenev said.
23% of them
full-time “earlier this year, I announced that we would allow it
Our employees go with 9% of our workforce and focus on more cost
Discipline throughout the organization. This did not go
Oracle Corporation (NYSE: Aug. 1) ‘Thousands’ of start-ups to cut ‘thousands’ of jobs globally to make $1
A report in The Information said jobs in the billions are global in cost savings.
Areas of the workforce affected include the United States, Canada and India
and parts of Europe.
Beyond Meat (NASDAQ 🙂 Inc Aug 4 About 4% of the global “reduction is expected to reduce operating expenses by an amount
A workforce of about $8 million per year, although we expect it to incur
One-time additional termination costs approximately $1 million
In the third quarter, CFO Phil Harden said about earnings
Company name Action date Comment
Apple Inc (NASDAQ: July 18) To slow the hiring process, the decision stems from a move to be more careful while doing so.
Spending the next year in uncertain times, although it’s not a companywide policy,
In some units, Bloomberg News reported, citing sources.
Meta Platforms June 30 Clip Recruitment Plans “If I had to bet, I would say this could be one of the
Inc’s engineers are in the worst downturn we’ve seen in recent history,” CEO
At least 30% to Mark Zuckerberg Tell Employees Weekly Q&A
~ 6000-7000 sessions, Reuters heard her voice.
Twitter Inc (NYSE: May 12 to suspend most CEO Parag Agrawal, in a staff memo seen by Reuters,
Recruitment, the review attributed the decision in part to a lack of confidence in
The current function of Twitter’s ability to reach strong growth targets has had
Submit to see if it is set in 2020.
ie ‘must be
Lift Inc (NASDAQ 🙂 Sep 27 Freeze all
To the end
Uber (NYSE: May 9) to scale back “We will treat hiring as a privilege and we will be willful
Technologies Inc. is hiring, reducing when and where to add staff,” CEO Dara
The spending on Khosrowshahi said in a letter seen by Reuters.
Snap Inc. (NYSE: May 23) to slow hiring and “we continue to face rising inflation and interest rates,
Push some planned deficiencies in the supply chain and labor disruptions, the platform
Employment until 2023 policy changes, the impact of the war in Ukraine, and
More,” CEO Evan Spiegel said in a note to employees.
Amazon.com Inc (NASDAQ :), July 28 Inc. is
Recruitment at the same pace
Intel Corp (NASDAQ: June 8 Recruitment freezes at
Desktop and laptop
Source: Company filings and media reports