As a wave of layoffs extends into 2023, Salesforce is laying off thousands of employees. Here is a complete list of all significant US corporations making cutbacks.
Numerous large US corporations had a wave of layoffs towards the close of 2022, and it doesn’t look that this trend will slow down in 2023.
In the midst of a persistent economic slowdown and stagnant sales, Salesforce and Vimeo were the latest to announce layoffs in the new year. The layoffs are the greatest in Amazon’s history and come after considerable cuts were made last year at businesses like Amazon, which said in November that it planned to eliminate upwards of 10,000 employees across multiple departments.
The Wall Street Journal claimed that the layoffs have mostly hit the computer industry, which is currently losing workers at a greater rate than at any other time during the epidemic. Data from Layoffs.fyi, a website that has been tracking layoffs since the start of the epidemic, was reported by the Journal. It showed that tech businesses cut more than 150,000 jobs in 2022 alone, compared to 80,000 in 2020 and 15,000 in 2021.
On January 4, Salesforce co-CEO Marc Benioff disclosed that the software business intends to restructure and save costs by closing certain offices and laying off 10% of its staff, or around 7,000 workers.
In an email to colleagues, Benioff stated that “the environment remains challenging and our customers are taking a more measured approach to their purchasing decisions.” In light of this, we’ve decided to make the extremely tough choice to cut our employment by around 10%, mostly over the upcoming weeks.”I accept responsibility for it,” he added, “as our income surged through the epidemic, we employed too many employees leading into this economic crisis we’re currently suffering.
The video platform’s CEO, Anjali Sud, announced to employees on January 4 that the firm will lay off 11% of its workforce, following a 6% employment reduction in July.
In an email to workers, Sud said, “This was a very difficult decision that impacts each of us deeply.” In order to help Vimeo become a more focused and profitable business that operates with the required discipline in a volatile economic climate, it is also the ethical thing to do.
Insider decrease, according to a spokeswoman, is meant to help with current economic issues and strengthen the company’s balance sheet.
According to a person familiar with the situation who spoke to Insider in December, Goldman Sachs expects to fire up to 8% of its employees in the first part of the new year.
The massive investment banking firm’s cost-cutting initiatives are similar to those of rivals Morgan Stanley and Citi, which also eliminated jobs in 2022.
Goldman Sachs CEO David Solomon stated at a conference last month that “we continue to see headwinds on our expense lines, particularly in the near term.” “We’ve started working on various expenditure reduction strategies, but it will take some time to see results. In the end, we’ll keep moving quickly and scale the business to take advantage of the available opportunities.