Tag: tech job cuts

First-Quarter Job Cuts Jump by Nearly 400 Percent as Companies Struggle With Economic Conditions

April 6, 2023
Business & Marketseconomyjob cutsjob marketrecessiontech job cutsUS
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Jobs cuts about quadrupled during the first quarter, registering the highest first-quarter cuts since 2020, according to data from a recent report, with worries about the economy and market being the number-one reason for the layoffs. In first quarter 2023, U.S.-based employers announced 270,416 job cuts, which is a 396 percent increase compared to the…

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IBM to Cut 3,900 Jobs Amid Tech Layoff Trend

January 26, 2023
Business & MarketsCompanieseconomyIBMKyndrylmassive layoffsrecessiontech job cutsUS
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Technology firm IBM plans on reducing its headcount by 3,900 jobs, the company announced Wednesday, while delivering better-than-expected fourth-quarter revenue results and joining a host of big tech companies that are also laying off employees. The layoffs account for roughly 1.5 percent of IBM’s total global workforce. The latest round of job cuts will focus…

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The Year 2023 Could See Mass Layoffs as Tech Job Cuts Soar 649 Percent From 2021

January 5, 2023
Business & Marketseconomic downturneconomyjob cutslayoffsover-hiringrecessiontech job cutsUS
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Tech companies laid off a large number of employees in 2022, with firms seemingly set to terminate even more employees this year as they plan for an impending economic downturn. Last year, employers announced plans to cut 363,824 jobs, up 13 percent from 321,970 job cuts announced in 2021, according to a Jan. 5th report from…

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Goldman CEO Says Jobs Cuts Coming, Jobless Claims Rise in US

December 30, 2022
Business & MarketsCompaniesDavid Solomoneconomic recessioneconomyjob cutsjobless claimstech job cutsUS
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Goldman CEO David Solomon admitted that the bank is planning to cut jobs due to economic reasons—a decision that comes as other big banks are also considering similar options and the United States is seeing an increase in unemployment claims. In his year-end message to staff, Solomon said that the firm is working on a…

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More Americans May Lose Jobs Around Christmas Time

December 17, 2022
Business & Marketseconomyjob cutsseasonal jobstech job cutsU.S. unemployment rateUS
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The trend of rising job cuts seen in the past few months could accelerate in December and January, which are usually seen as the peak period of job cuts. An analysis of data from the Bureau of Labor Statistics (BLS) by the Wall Street Journal shows that December usually ranks at the second spot when…

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