The Tsunami of Big Tech Layoffs Continues
· Mar 5, 2023 ·

The tech sector has seen a layoff tsunami in the past year, resulting in the elimination of more than 280,000 jobs across the globe in less than 15 months.

With an estimated 18,000 people axed, Amazon was the global leader in layoffs. Microsoft and Alphabet (Google's parent company) followed closely behind with 10,000 and 12,000 cuts, respectively. In November 2022 alone, 11,000 workers were cut from Meta (Facebook), 10,000 from Amazon, and 1,000 from Salesforce.

From January 2022 to March 2023, major tech companies such as Dell, PayPal, IBM, Yahoo, and Zoom pink-slipped thousands of employees each. The only company in the heavyweight GAMAM circle (Google, Amazon, Meta, Apple, Microsoft) to avoid major layoffs was Apple. But CEO Tim Cook voluntarily took a pay cut of $50 million.

Tough times in tech.

Remember a couple/few years ago when the American economy was like a speeding jet-powered freight train? I miss those days.

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