Aug. 9, 2022Canadian social media management company Hootsuite reportedly announced plans to cut 30% of its estimated 1,000 employees. Nov. 9, 2022Mark Zuckerberg, the CEO of Facebook, Instagram and WhatsApp parent company Meta, confirmed the social media company will lay off 13% of its workforce (11,000 employees) on Wednesday, blaming its low revenue on macroeconomic downturn and increased competitionmaking it one of the largest rounds of cuts for a major tech company so far this year, following a hiring freeze announced in September. Segment EBITDA 1 was $1.7 billion for the quarter, a decrease of 9.3 percent, driven in part by the loss of high margin . Aug. 5, 2022iRobot, the maker of Roomba, cut 10% of its workforce (140 employees), as the company restructures after being purchased by Amazon for $1.7 billion, the company told Forbes, adding the job cuts were not related to the acquisition. Verizon, for its part, attributed its recent issues to inflation and economic conditions as well as its struggle to get people to sign up for its lower-end unlimited plans. July 27, 2022Fitness company F45 Training laid off 110 employees, or 45% of its workforce, as CEO Adam Gilchrist stepped down. Sept. 20, 2022Gap could cut as many as 500 corporate jobs from its offices in New York and San Francisco, as well as offices in Asia, unnamed sources told the Wall Street Journal on Tuesday (A Gap spokesperson confirmed the layoffs to Forbes but would not provide further detail). Sept. 9, 2022Beaumont-Spectrum, which formed earlier this year out of a merger between Beaumont and Spectrum, cut 400 corporate positions as the health care network struggles with significant financial pressures from historic inflation, rising pharmaceutical and labor costs, COVID 19, expiration of CARES Act funding and reimbursement not proportional with expenses.. Aug. 9, 2022Website design company Wix.com made its second round of layoffs this year, cutting 100 employees as company President and COO Nir Zohar told Israeli newspaper Calcalist, the world has experienced an economic crisis and we have seen U.S. GDP fall without growth.. Find the best phones, apps and accessories with our CNET Mobile newsletter. "We're not satisfied with our performance.". Oct. 19, 2022Philadelphia-based delivery startup Gopuff laid off as many as 250 employees in its third round of layoffs this year, unnamed sources told Bloomberg, after cutting roughly 400 in March and 100 in Januarya company spokesperson told Forbes the recent cuts are part of a 10% reduction announced over the summer. Sept. 28, 2022San Francisco-based electronic signature company DocuSign will lay off 9% of its more than 7,400 employees (roughly 670 employees), the company announced in a Securities and Exchange filing Wednesday, saying the cuts are necessary to ensure we are capitalizing on our long-term opportunity and setting up the company for future success.. Verizon has followed rival T-Mobile in laying off staff, CNET has learned. As of 2014 Verizon employs 180,000 people. The wireless carrier would not disclose the exact number of employees it's cutting but did confirm the move had occurred. July 18, 2022Crypto exchange Gemini cut 68 employeesor 7% of its staffless than two months after it let go of 10% of its workforce, according to TechCrunch. T-Mobile said "most impacted employees have been offered different roles" and added that "a small number of roles have been eliminated.". 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Sept. 29, 2022SoftBank is prepping to cut at least 150 of the 500 workers employed by the Vision Fund, the Japanese conglomerates venture capital arm, which would would affect roughly 30% of staff, according to Bloomberg, a move that SoftBanks billionaire founder and CEO Masayoshi Son hinted at last month after a record $23 billion quarterly loss (its unclear whether the layoffs will affect employees at the Lond0n-headquartered funds two U.S. locations in Silicon Valley and Miami). The Disney Store on Stockton Street in San Francisco, California, sells official Walt Disney [+] Corporation merchandise on October 4, 2013 in San Francisco, California. Sept. 21, 2022In a similar move, Google also alerted about 50 employeesroughly half of those employed at the firms startup incubator Area 120they need to find a new internal role within three months if they want to stay at Google, the Journal reported. Aug. 2, 2022Online brokerage Robinhood cut 23% of its staff, with CEO Vlad Tenev citing a drop in trading activity, high inflation and a broad crypto market crashthe move comes after Robinhood laid off 9% of its full-time employees in April, a set of cuts Tenev says did not go far enough.. Meta said last week that it had frozen some roles amid its first-ever revenue drop. Nov. 3, 2022Billionaire Elon Musk reportedly plans to cut roughly 50% of Twitters 7,500 employees, multiple outlets reported Thursdayone week after the worlds richest man took over the company, with previous reports indicating he could lay off 25% and as much as 75% of the workforce, although Musk has walked back on that original number. Nov. 8, 2022Zendesk is planning to lay off roughly 350 employees, including 84 in California, SF Gate and the San Francisco Chronicle reported, citing a tweet from a member of San Franciscos Board of Supervisors referencing the companys filing of a Worker Adjustment and Retraining Notification notice filed last week (Zendesk did not immediately respond to a Forbes inquiry). The company was founded in 1983 and is headquartered in New York, NY. Aug. 22, 2022Ford announced it will let go about 3,000 office and contract employees as the carmaker moves to cut spending as it transitions to producing electric vehicles, according to the Wall Street Journal. T-Mobile, whichbrought on 723,000 postpaid mobile subscribers, confirmed its own layoffs to CNET last month. This increase was driven by momentum in Small and Medium Business, and the best performance in Global Enterprise since first-quarter 2020. Nov. 3, 2022Rideshare giant Lyft will reportedly lay off 13% of its staff, according to a letter from company officials obtained by CNBC, with job cuts affecting approximately 650 employees (13% of its staff of roughly 5,000, not including its contracted drivers), marking the companys second round of layoffs this year, after it laid off 60 workers in July (Lyft did not immediately respond to an inquiry from Forbes). Nov. 11, 2022Disney told executives it plans to implement a targeted hiring freeze and anticipates job cuts, according to CNBC, after reporting quarterly losses earlier this week, though its not clear how many employees will be affected by the changes. Oct. 14, 2022Nevada-based real estate valuation firm Clear Capital announced plans to cut 27% of its global workforce (roughly 378 employees), TechCrunch reported, including 108 employees at its California office. "These shifts primarily affect a small number of 'back of house' management and administrative roles.". You may opt-out by. Oct. 12, 2022Intel could reportedly cut thousands of employees, including roughly 20% in its sales and marketing departments, Bloomberg reported citing unnamed sources familiar with the proposal, following a disappointing company financial forecast in July it blamed on a sudden and rapid economic decline, while its shares shrank by more than half over the past year, to $25.04. Aug. 31, 2022Snap, the California-based developer of mobile app Snapchat, announced plans to lay off more than 1,200 employees (roughly 20% of its staff), in its second round of job cuts this summer, according to an internal memo obtained by CNN. Aug. 19, 2022Boston-based online furniture retailer Wayfair slashed 870 jobs (nearly 5% of the companys 18,000 employees), according to an internal memo from CEO Niraj Shah obtained by the Boston Globe, which stated the company was rebuilding after the Covid-19 pandemic but that their team is too large for the environment we are now in., Aug. 18, 2022Software company New Relic laid off 110 employees, including 90 in the U.S. (roughly 5% of its workforce), CEO Bill Staples posted in a statement on the companys website, writing the cuts are essential in light of current information on growth trends and market expectations., Aug. 16, 2022Philadelphia-based Audacy, the second biggest radio company in the United States, cut 5% of its workforce (estimated to be roughly 250 employees), Inside Radio reported, with CEO David Field saying the cuts come in light of current macroeconomic headwinds.. July 13, 2022Tonal, the at-home fitness company, cut 35% of its workforce amid a worsening macroeconomic climate and global supply chain challenges.. Total Verizon Business revenue was $7.6 billion in second-quarter 2022, down 1.8 percent year over year. July 13, 2022Online ordering startup ChowNow laid off 100 people, TechCrunch reported, as it reels back from a large and ambitious budget it couldnt meet amid fears a stunted market could fuel a recession. In a bid to appeal to budget-conscious customers, Verizon introduced a lower-priced "Welcome Unlimited" last month. Oct. 14, 2022HelloFresh, which took off during pandemic-related shutdowns, cut 611 workers workers and shut down a California production facility this week as the company focuses on newer, more efficient sites, a company spokesperson told Business Insider. Nov. 2, 2022In a blog post released Wednesday, Opendoor CEO Eric Wu blamed the companys job cuts, which affect 18% of its workforce, on the most challenging real estate market in 40 years and a need to adjust our businessas the housing market continues to cool in the wake of rising inflation and the Federal Reserves four rounds of interest rate hikes this year. of Employees to be Laid off: 2500 Industry: Oct 2022 BYJU's, the Edtech company is planning to lay off 2,500 employees in the next six months, which account for 5% of its workforce. Revenue information: US$125.98 billion (2016) - Bloomberg Contact information: Verizon Correspondence Team, PO Box 5029, Wallingford, CT 06492 or Verizon Corporate Office 140 West Street, New York New York 10007 - Phone: 1 (800) 837-4966 HelloFresh No. Nov. 10, 2022Barclays started laying off roughly 200 employees in its banking and trading departments this week, sources told Bloomberg, while Citigroup is cutting 50 trading employees, CNBC reported, following the lead of Goldman Sachs, SoftBank and Wells Fargo, which all implemented major job cuts earlier this year (Barclays and Citigroup did not immediately respond to requests for comment from Forbes). Fierce Wireless andThe T-Mo Report previously reported on T-Mobile's job cuts. Aug. 26, 2022Online mortgage lender Better.com reportedly announced its third round of layoffs this year and its fourth in the past 12 months, laying off close to 250 employees, an unnamed worker told TechCrunchbringing the companys total layoffs since December to roughly 4,000 as the company struggles amid a precipitous downturn in the housing market (Better.com did not immediately respond to an inquiry from Forbes). Corporation merchandise on October 4, 2013 in San Francisco, California. July 21, 20227-Eleven, which operates 13,000 convenience stores across North America, cut 880 U.S. corporate jobs, just over a year after it completed a $21 billion deal to purchase Speedway. Sept. 14, 2022Twilio CEO Jeff Lawson announced the move to cut 11% (roughly 800-900 of the companys nearly 8,000 employees) on a company blog, saying the workforce grew too fast and without enough focus over the past two years. Aug. 31, 2022Bed Bath & Beyond unveiled plans to lay off 20% of its workforce and take out $500 million in new financing, as the struggling retail giant closes 150 lower-producing stores amid continuing issues with low sales. The environment is likely serving as a catalyst for price-conscious wireless consumers to start looking for deals. Oct. 25, 2022Manufacturing giant Philips unveiled plans to lay off approximately 4,000 workers amid a worsening macroeconomic environment, with the cuts expected to affect more than 5% of the companys workforce in both the Netherlandswhere the company is basedand the United States. July 26, 2022E-commerce company Shopify became the latest company to lay off employees, cutting ties with 1,000 (10% of its workforce), CEO Tobi Lutke announced, saying skyrocketing demand for online shopping during the pandemic has leveled off, and that the company made a bet that didnt pay off., July 22, 2022Boston tech-watch company Whoop slashed 15% of its workforce, telling the Boston Globe it now has 550 employees (meaning it cut close to 97) adding in a statement, given how negatively the macro environment has evolved, we need to grow responsibly and control our own destiny.. The carrier has raised the price for its older shared data plans andrecently hiked rates for customers(which it said was not a result of inflation), though both charges only started to go into effect in June and it remains to be seen if more customers will defect as a result. brought on 723,000 postpaid mobile subscribers, Robinhood said it planned to cut nearly a quarter of its staff, the price for its older shared data plans, introduced a lower-priced "Welcome Unlimited". Aug. 25, 2022Tennessee-based trucking company U.S. Xpress cut 5% of its corporate workforce, a spokesperson confirmed to local ABC affiliate WTVC, bringing its total layoffs this summer to roughly 140, following a round of cuts in May that slashed another 5% of the companys corporate staff, reported at the time to be around 70 employees. Sept. 26, 2022Wells Fargo reportedly announced plans to lay off 36 employees, bringing the banks total layoffs since April to more than 400, Iowa CBS affiliate KCCI reported, following the banking giants decision earlier this month to cut roughly 75 in its home mortgage division (Wells Fargo did not immediately respond to an inquiry from Forbes). Nov. 8, 2022Salesforce cut fewer than 1,000 employees on Monday, a source familiar with the move told CNBC, and its reportedly planning to lay off roughly 2,500 of the companys 72,223 employees (approximately 3.5% of its workforce, according to Pitchbook) for performance issues, Protocol reported, citing an industry source and a former employee. Aug. 10, 2022California tech startup Nutanix announced plans to cut 270 (4% of its workforce) by the end of October, according to a Securities and Exchange Commission filing, in an effort to reduce expenses. Companies that announced Major Layoffs and Hiring Freezes Verizon Communications Inc. Layoffs - TheLayoff.com Aug. 30, 2022Snap CEO Evan Spiegel announced in a company memo that the company will lay off 20% of its than 6,400 workers (1,280 employees), the Verge reported, saying the company is facing a lower rate of revenue growththe companys stock price has plummeted nearly 80% since earlier this year. Oct. 18, 2022Microsofts cuts will affect less than 1% of its 180,000 workers, a spokesperson told CNBC, three months after the Redmond, Wash.-based tech company announced it would slash another 1% of its workforce, with the cuts coming in the companys modern life experiences teama Microsoft spokesperson told Forbes the company will evaluate our business priorities on a regular basis and make structural adjustments accordingly.. Aug. 15, 2022HBO Max cut 70 jobs (14% of its workforce) in a cost-cutting effort that comes four months after Discoverys $43 billion acquisition of HBO Max parent company WarnerMedia, and a week after the company announced plans to combine the streaming service with Discovery+ as soon as next year, Deadline reported. July 12, 2022Some 1,500 employees at the international delivery startup Gopuff were let go, (10% of its staff) and 76 of its U.S. warehouses were shut down, according to a letter to investors first reported by Bloomberg, as the company moves away from a growth-at-all-costs model. Aug. 11, 2022Meditation app Calm CEO David Ko announced plans to lay off 90 employees (20% of the companys workforce) in a memo to employees, saying, we as a company are not immune to the impacts of the current economic environment.". Oct. 22, 2022Vacasas layoffs affect roughly 3% of the companys workforce, primarily in its corporate divisions, Skift reportedits second round of cuts this year following its decision to let go of 25 sales employees in Julya spokesperson told Skift the company is attempting to optimize our resources and teams to be efficient and align with our priorities.. Sept. 13, 2022Warner Bros. Sept. 2, 2022Investment banking giant Credit Suisse could reportedly cut as many as 5,000 jobs as the scandal-hit bank seeks to turnaround its reputation and reduce costs, according to Reuters. Verizon reports 2Q and first-half 2022 results | About Verizon The step is being taken with an aim of becoming profitable by March 2023. The cuts at both telecom providers, two of the largest employers in the nation, reflect the the rocky economic environment and broader tightening of the belt in corporate America. July 11, 2022Electric automaker Rivian unveiled plans to lay off 5% of the companys 14,000 employees in areas that grew too quickly during the pandemic and to halt hiring of non-factory workers, according to an internal email from CEO RJ Scaringe, Bloomberg reported. Aug. 8, 2022Groupon unveiled plans to lay off 15% of its workforce (500 employees), primarily in the companys technology and sales departments, with CEO Kedar Deshpande writing in a message to employees obtained by Forbes, our cost structure and our performance are not aligned.. Black Panther: Wakanda Forever: Strong Preview Sales May Mean Biggest Opening Of The Year But Can It Top Doctor Strange? Glenn Youngkin With Racist CommentLatest Republican Rival Hes Attacked After Election Disappointment, Biden Administration Suspends Student Loan Forgiveness Applications, FTX Files For BankruptcyFormer Billionaire Sam Bankman-Fried Resigns As CEO, Twitter Blue: Signups For Paid Verification Appear Suspended After Impersonator Chaos, Recession Watch: It Doesnt Seem ImminentBut The Housing Market Collapse Deepens As Fed Officials Warn 'Economy Will Slow'. Aug. 8, 2022Snap started laying off an undisclosed number of its 6,000 employees, following a disappointing earnings report released last month, The Verge reported, citing anonymous sources. Sept. 21, 2022Clothing outlet Nordstrom plans to lay off 231 employees at an Iowa distribution center starting next month, local ABC affiliate KCRG reported, citing a spokesperson who said the move is necessary to better align with the current needs of our business (Nordstrom did not immediately respond to an inquiry from Forbes). Delivered Tuesdays and Thursdays. Nov. 3, 2022Stripe announced plans to cut 14% of its workforce (roughly 1,120 of its 8,000 positions as of October, according to PitchBook) as the online financial services company contends with stubborn inflation, energy shocks, higher interest rates, reduced investment budgets and sparser startup funding, after the company overhired and underestimated both the likelihood and impact of a broader slowdown, CEO Patrick Collison announced in a statement to employees. Like Verizon, T-Mobile tried to downplay the cuts. Aug. 3, 2022Walmartthe largest private employer in the United Statesplans to cut 200 of its corporate employees as the company seeks to restructure, the Wall Street Journal reported, citing anonymous sources. "At times we could be increasing headcount in one area while decreasing the number of employees in others. of Employees to be Laid off: 600 Industry: Consumer Products Oct. 6, 2022Pelotons layoffs, which affect roughly 12% of the company, come two months after a memo to employees obtained by Bloomberg revealed the exercise equipment maker cut nearly 800 jobs, and announced plans to shut stores and raise prices for its Bike+ and Tread machines. T-Mobile has risen nearly 26%. Eli Blumenthal is a senior editor at CNET with a particular focus on covering the latest in the ever-changing worlds of telecom, streaming and sports. Oct. 28 ,2022Zillow, the Seattle-based online real estate company, plans to let go of 300 workers (roughly 5% of its nearly 5,800 employees), TechCrunch reported, nearly a year after it announced plans to lay off another 2,000 employees. Verizon reports 1Q earnings for 2022 | About Verizon Even with the benefit of business. Oracle cut jobs in its US customer experience division, Bloomberg reported on Monday, while former investment darling Robinhood said it planned to cut nearly a quarter of its staff on Tuesday. Oct. 13, 2022Oracle is laying off 201 employees, according to multiple outlets, citing documents filed to the states Employment Development Department, two months after the company started laying off an undisclosed number of its estimated 143,000 employees, as part of a larger plan to cut thousands, The Information reported. Nov. 11, 2022Juul announced the layoffs, which are expected to affect roughly 30% of its workforce, the Wall Street Journal reported, as the embattled company secures additional funding from investors to avoid bankruptcy two months after it agreed to pay $438 million to settle a lawsuit from 33 states and Puerto Rico into claims the company marketed its products to teenagers, and as the company appeals the Food and Drug Administrations ban on the sale of its vaporizers. Recession Watch: It Doesnt Seem ImminentBut The Housing Market Collapse Deepens As Fed Officials Warn 'Economy Will Slow' (Forbes), This is a BETA experience. July 12, 2022 California-based mortgage lender loanDepot announced plans to lay off 2,000 workers by the end of the year, bringing its 2022 layoffs to 4,800 more than half of the company's .
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