Thousands of employees were laid off in major technology companies

Thousands of employees were laid off in major technology companies

With the economic crisis that affected all countries of the world, especially after the Russian-Ukrainian war, all markets were subjected to a painful blow, as interest rates rose and the majority of countries were exposed to danger. InflationOn the other hand, sales of major companies, including technology companies, declined.
After the pace of sales increased to its highest limits during the period of the Corona epidemic, this was followed by a sharp decline as well, as sales declined significantly as a result of the economic recession that countries are exposed to, in addition to the rise in interest rates. This led to a significant deterioration in the economic situation, which led to a significant decline in company shares. As a result, companies laid off thousands of employees, especially in major technology companies, which are most affected by the economic crisis.

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Thousands of employees were laid off in major technology companies

Technology companies ranked first in laying off employees. Despite the spread of technology companies around the world and their increasing influence and occupation of the preferences of millions of people, they were subjected to a major crisis this year, as the pace of sales declined sharply after rising to their highest levels during the epidemic period, during which they... Technology companies are hiring a large number of employees to overcome the increase in sales, as many technology companies have suffered from a shortage of employees compared to the high percentage of sales, which is what employees are paying for this year, as technology companies were forced to lay off these employees, in addition to laying off a large number of employees. Also, from the beginning of the year, we found major technology companies laying off employees, preventing Twitter, which laid off nearly 7,000 employees after Elon Musk took over the company, and the process of liquidating employees continues until this moment.
On the other hand, Meta Company, owned by Mark Zuckerberg, which owns Facebook, Instagram, and WhatsApp, laid off nearly 11,000 employees within one year, which came after a significant decrease in net profit by 52%.

The most famous technology companies that laid off employees

In addition to Twitter and Meta, there are also a large number of major technology companies that have also laid off their employees, including:

  • Microsoft Corporation

Microsoft laid off 1,000 employees during this year, and they were laid off at the same time, marking the largest employee layoffs of the year.

  • Snyk Company

Snake, a cybersecurity company, has laid off approximately 14% of its employee strength, and has also announced a reduction in spending in several areas within the company.

  • Adobe company

In turn, Adobe laid off more than 100 employees, and the company also announced that it will focus more on sales in the coming period so that it can fill the deficit within the company.

  • Lyst Company

E-commerce company Lyst has laid off a large number of employees, amounting to 52%, in order to be able to obtain sufficient savings for the company's funds to be able to continue operating.

  • HP company

HP announced that it plans to save approximately one billion dollars in annual operating costs, which requires it to lay off 4,000 to 6,000 employees over a period of three years. The company attributed the reason for taking this step to a significant decline in sales during this year, which made the company incur losses. Lots of losses.

  • Amazon company

On the other hand, Amazon laid off a very large number of its employees, which reached 10,000 employees, and although there was no explicit announcement by the company, the employees who were sacrificed did announce this, and in turn, Amazon did not deny this announcement.

The series of layoffs of thousands of employees in major technology companies is still continuing. There are many companies that we did not mention that have sacrificed most of their employees as a result of this crisis. It has also been announced by other companies that they are on the way to making the same decision to lay off a number of their employees, and we pray to God that no This economic crisis continues, leaving no economic entity unaffected, which in turn has affected individuals across the world.

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