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Big tech job cuts keep coming; Dell to trim headcount

In just the past month there have been nearly 50,000 job cuts across the technology sector. Large and small tech companies went on a hiring spree in over the past several years due to a demand for their products, software and services surged with millions of people working remotely. However, even with all of the layoffs announced in recent weeks, most tech companies are still vastly larger than they were three years ago. The Associated Press has the story:

Big tech job cuts keep coming; Dell to trim headcount

Newslooks- (AP)

The tech industry started the year with a wave of job cuts, around 50,000 in January alone, and there doesn’t appear to be any let up this month. The computer maker Dell said Monday that it’s cutting about 6,600 jobs. Large and small tech companies went on a hiring spree in over the past several years due to a demand for their products, software and services surged with millions of people working remotely. However, even with all of the layoffs announced this year, most tech companies are still vastly larger than they were three years ago. Here’s a look at some of the companies that have announced layoffs so far.

February 2023

Dell: The computer maker reduced its payroll by 5%, or about 6,600 jobs, saying that the steps it’s taken to stay ahead of eroding market conditions are no longer enough. Profits have slipped over the past two quarters at the company, which employed about 133,000 people at the start of last year. The largest drop-off ever in PC deliveries was recorded last year after a surge in purchases during the pandemic. Dell’s shipments dropped 16%.

January 2023

FILE – The Amazon DTW1 fulfillment center is shown in Romulus, Mich., April 1, 2020. Amazon announced Thursday, July 21, 2022, it will acquire the primary care organization One Medical in a deal valued roughly at $3.9 billion, marking another expansion for the retailer into health care services. (AP Photo/Paul Sancya, File)

Amazon: The e-commerce company said it must cut about 18,000 positions. That’s just a fraction of its 1.5 million-strong global workforce.

Salesforce: The company lays off 10% of its workforce, about 8,000 employees.

Coinbase: The cryptocurrency trading platform cuts approximately 20% of its workforce, or about 950 jobs, in a second round of layoffs in less than a year.

FILE – Coinbase employee Daniel Huynh holds a celebratory bottle of champagne as he photographs outside the Nasdaq MarketSite, in New York’s Times Square, Wednesday, April 14, 2021. In just the past month of Jan. 2023, there have been nearly 50,000 job cuts across the technology sector. Large and small tech companies went on a hiring spree in over the past several years due to a demand for their products, software and services surged with millions of people working remotely. (AP Photo/Richard Drew, File)

Microsoft: The software company said it will cut about 10,000 jobs, almost 5% of its workforce.

Google: The search engine giant becomes the most recent in the industry to say it must adjust, saying 12,000 workers, or about 6% of its workforce, would be let go.

FILE – In this Oct. 20, 2015 file photo is signage outside Google headquarters in Mountain View, Calif. In just the past month of Jan. 2023, there have been nearly 50,000 job cuts across the technology sector. Large and small tech companies went on a hiring spree in over the past several years due to a demand for their products, software and services surged with millions of people working remotely. (AP Photo/Marcio Jose Sanchez, File)

Spotify: The music streaming service is cutting 6% of its global workforce. It did not give a specific number of job losses. Spotify reported in its latest annual report that it had about 6,600 employees, which implies that 400 jobs are being axed.

SAP: Germany-based SAP, Europe’s biggest software company, said it it cutting up to 3,000 jobs worldwide, or about 2.5% of its workforce, after a shop drop in profits.

PayPal: The digital payments company says it will trim about 7% of its total workforce, or about 2,000 full-time workers, as it contends with a challenging environment.

IBM: Profits fell in the most recent quarter at the technology and consulting company, but it said the 3,900 job cuts announced in late January were due to earlier sale of parts of its business. IBM sold its health care data business last year and in 2021, it spun off its legacy tech division in 2021.

November 2022

FILE – A receptionist works in the lobby of the building that houses the Twitter office in New York, Wednesday, Oct. 26, 2022. In just the past month of Jan. 2023, there have been nearly 50,000 job cuts across the technology sector. Large and small tech companies went on a hiring spree in over the past several years due to a demand for their products, software and services surged with millions of people working remotely. (AP Photo/Mary Altaffer, File)

Twitter: About half of the social media platform’s staff of 7,500 was let go after it was acquired by the billionaire CEO of Tesla, Elon Musk.

Lyft: The ride-hailing service said it was cutting 13% of its workforce, almost 700 employees.

FILE – In this April 30, 2020, file photo, a Lyft ride-hailing vehicle sit sunused in a lot near Empower Field at Mile High in Denver. In just the past month of Jan. 2023, there have been nearly 50,000 job cuts across the technology sector. Large and small tech companies went on a hiring spree in over the past several years due to a demand for their products, software and services surged with millions of people working remotely. (AP Photo/David Zalubowski, File)

Meta: The parent company of Facebook laid off 11,000 people, about 13% of its workforce.

HP: The computer maker cited economic challenges in announcing job cuts of as many as 6,000 positions over the next three years. Sales of PCs suffered the most severe drop-off ever as a surge of tech buying by millions working from home began to fade.

FILE – Facebook’s Meta logo sign is seen at the company headquarters in Menlo Park, Calif., on, Oct. 28, 2021. Facebook says it has identified and stopped a sprawling network of fake accounts that spread Russian propaganda about the invasion of Ukraine throughout Western Europe. Facebook parent company Meta says the network created 60 websites that mimicked legitimate news organizations but parroted Russian talking points about Ukraine. (AP Photo/Tony Avelar, File)

August 2022

Snap: The parent company of social media platform Snapchat said that it was letting go of 20% of its staff. Snap’s staff has grown to more than 5,600 employees in recent years and the company said at the time that even after laying off more than 1,000 people, its staff would be larger than it was a year earlier.

Robinhood: The company, whose app helped bring a new generation of investors to the market, announced that it would reduce headcount by about 23%, or approximately 780 people. An earlier round of layoffs last year cut 9% of its workforce.

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