Layoffs

Blockchain company Polygon has announced layoffs of about 100 employees, or 20% of its workforce, impacting multiple teams. The company stated that the move comes as it consolidates its business units under Polygon Labs, after a period of “exponential growth.” Polygon said that it has a...

Facebook parent company Meta Platforms Inc (NASDAQ: META) has reportedly given poor ratings to thousands of employees in the company's latest performance reviews.  The leadership team at Meta "expects the ratings to lead more employees to leave in the coming weeks...

Twilio Inc (NYSE: TWLO) will lay off 17% of its workforce (about 1,500 positions) as part of a major restructuring plan, the company announced in a Monday blog post. What Happened: Twilio co-founder and CEO Jeff Lawson penned an open letter to Twilio employees saying that while the company saw...

Cryptocurrency exchange OKX is considering a potential workforce reduction, a company spokesperson said. The OKX spokesperson declined to reveal the exact number of the potential layoffs, but stated it may effect less than 1% of OKX's global workforce. Employees that will be...

The creator of the company that launched Filecoin (CRYPOT: FIL), Protocol Labs, a technology company that develops computing infrastructure, has laid off 21% of its workforce, citing a global economic downturn and an extended cryptocurrency winter as reasons for the move. The layoffs...

As the tech industry continues to shed jobs by the thousands, a business professor is sounding the alarm on the dangerous consequences of following the herd. Companies like Amazon.com, Inc (NASDAQ: AMZN), Google’s parent Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), and Meta Platforms Inc (...

Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) shares rallied 4.9% on Friday after the Google parent company became the latest tech giant to announce layoffs. What Happened: On Friday, Google CEO Sundar Pichai sent an email to the company's staff informing them that Alphabet will begin laying...

Here's a round-up of stories from around the globe and from various media outlets. Benzinga Google To Fire 12K Employees Worldwide; Extends Support Packages Alphabet Inc.'s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google prepared to cut 12,000 jobs globally. CEO Sundar Pichai said...

Elon Musk-led Twitter reportedly has plans to terminate 50 workers in its product division in the coming weeks. What Happened: The layoffs will come in the coming weeks, reported Insider, citing two people familiar with the matter. Twitter employees expect that...

Tech giant Microsoft Inc (NASDAQ: MSFT) is preparing to lay off thousands of employees, according to multiple reports. What Happened: The Redmond, Washington-based company has more than 200,000 employees and will be cutting 11,000 jobs or about 5% of its workforce, according to Sky News, as...

Former Secretary of Labor Robert Reich has expressed his concerns about the Federal Reserve’s fight against inflation in the context of employment.  Reich noted that the central bank’s attempt to rein in inflation by putting people out of work is ‘...

Goldman Sachs Group Inc. (NYSE: GS) is gearing up to eliminate about 3,200 positions this week, Bloomberg reported, citing a person with knowledge of the matter.  The investment bank will reportedly zero in on its core trading and banking units for most of the job cuts. Goldman Sachs...

A recently laid-off Twitter manager said he saw nearly all of his 150-person team fired in the span of just four hours, one week after Elon Musk entered the building. What Happened: Amir Shevat, former head of product for Twitter's developer platform said between the hours of 10 p.m. to 2 a.m...

GameStop Corp (NYSE: GME) is stepping back from its aggressive push into Web3/Cryprocurrency. According to Axios, the meme-dressed company is bracing for another round of layoffs. And engineers, tasked with building GameStop’s blockchain wallet, will be heavily impacted. See Also: GameStop...

Amazon.com, Inc (NASDAQ:AMZN) CEO Andy Jassy said there will be more "role reductions" at the e-commerce behemoth in early 2023 as the company leadership continues to "make adjustments." What Happened: Jassy said in a letter to employees that Amazon's "annual planning process" which the company is...