Thursday, November 10, 2022

Tech layoffs

Massive layoffs at Twitter were predicted and actually happened (3700 jobs, 50%) after Elon Musk, under pressure from the company, completed purchasing it. 

No word on whether the other big tech layoffs were expected.

November 4 was the worst day for job cuts in 2022:

  • Lyft - 700 jobs, 13% 
  • Chime - 160 jobs,12%
  • Stripe - 1000 jobs, 14%
  • Opendoor - 550 jobs, 15%
  • others
Meta is part of the wave too, announcing yesterday that they're cutting a whopping 11,000 jobs (13%) - probably related to its huge value crash.

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