Hundreds of employees have been laid off as several companies announced cross-cutting measures amid recession fears.
Job cuts 2022: For many, 2022 have been dreaded year for them as they lost their jobs. Hundreds of employees have been laid off as part of job cuts and many still continue to be asked to let go. As of mid-November, more than 73,000 workers in the US tech sector have been laid off in mass-level job cuts led by companies like Meta, Twitter, Salesforce, Netflix, Cisco, Roku, and others. As more and more companies across the spectrum sack employees amid the global meltdown, at least 853 tech companies worldwide have laid off about 137,492 employees to date, and the tally is only going north amid recession fears.
List of 20 major companies facing job cuts this year
- Amazon
- Apple
- Cisco
- Chime
- Salesforce
- Dapper Labs
- Digital Currency Group
- DoorDash
- Opendoor
- Galaxy Digital
- HP
- Peloton
- Intel
- Lyft
- Meta
- Stripe
- Qualcomm
- Upstart
- Seagate
Amid the Big Tech layoff season, the media and entertainment industry worldwide has also been hit with job cuts as advertisers reduce spending amid the global economic slowdown. According to Axios, more than 3,000 jobs have been cut till October this year in the media industry, and more are on the way. From Paramount Global to The Walt Disney Company, media outlets have announced layoffs, hiring freeze and other cost-cutting measures.
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