- Opendoor and McKinsey employees are the latest to be hit by a wave of layoffs.
- Over the past few months, layoffs have expanded outside of tech, media, and finance as Dow and 3M announced cuts.
- See the full list of layoffs so far in 2023.
A wave of layoffs that hit dozens of US companies toward the end of 2022 shows no sign of slowing down into 2023.
E-commerce behemoth Amazon told employees in March that it would eliminate 9,000 roles, which comes on top of the 18,000 job cuts it announced earlier this year.
In a message to employees CEO Andy Jassy said, “Some may ask why we didn’t announce these role reductions with the ones we announced a couple months ago. The short answer is that not all of the teams were done with their analyses in the late fall; and rather than rush through these assessments without the appropriate diligence, we chose to share these decisions as we’ve made them so people had the information as soon as possible.”
Amazon joins a large group of major corporations that have made significant cuts in the new year: tech companies, including Meta and Google, and finance behemoths, like Goldman Sachs, announced massive layoffs in the first weeks of 2023 amid a continued economic downturn and stagnating sales.
The downsizing followed significant reductions that companies including Meta and Twitter already made last year.
The layoffs have primarily affected the tech sector, which is now hemorrhaging employees at a faster rate than at any point during the pandemic, the Journal reported. According to data cited by the Journal from Layoffs.fyi, a site tracking layoffs since the start of the pandemic, tech companies slashed more than 150,000 in 2022 alone — compared to 80,000 in 2020 and 15,000 in 2021.
Here are the notable examples so far in 2023:
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