Hiring to 2023 policy changes, the impact of the war in Ukraine, and Push some planned supply chain shortages and labor disruptions, platform Snap Inc May 23 To slow hiring and “We continue to face rising inflation and interest rates, Spending on Khosrowshahi said in a letter seen by Reuters. Technologies Inc hiring, reduce about when and where we add headcount,” CEO Dara Uber May 9 To scale back “We will treat hiring as a privilege and be deliberate Hiring, review attributed the decision in part to a lack of confidence inĮxisting job Twitter’s ability to reach aggressive growth targets it had Twitter Inc May 12 To pause most CEO Parag Agrawal, in a memo to employees seen by Reuters, ~6,000-7,000 session, audio of which was heard by Reuters. Least 30% to Mark Zuckerberg told workers in a weekly employee Q&A Inc engineers by at worst downturns that we’ve seen in recent history,” CEO Meta Platforms June 30 Cut plans to hire “If I had to bet, I’d say that this might be one of the In some units Bloomberg News reported, citing sources. Spending next year uncertain times, though it is not a company-wide policy, Market and a likely recession,” CEO SebastianĬompany name Date Action taken CommentaryĪpple Inc July 18 To slow hiring, The decision stems from a move to be more careful during Steep increase in inflation, a highly volatile stock Workforce war in Ukraine unfold, a shift in consumer sentiment, a Klarna May 23 10% of its “Since then (2021), we have seen a tragic and unnecessary Possibility of a prolonged downturn,” CEO Devin Finzer Instability, and we need to prepare the company for the Its workforce combination of a crypto winter and broad macroeconomic OpenSea July 14 20% of “The reality is that we have entered an unprecedented Winter, and could last for an extended period,” CEO Brian June 23 jobs are growing in line with our slower revenue growth,” theĬoinbase Global June 14 1,100 jobs “We appear to be entering a recession after a 10+ year Netflix May 17 150 jobs “While we continue to invest significantly inģ00 the business, we made these adjustments so that our costs On post-pandemic growth in online shopping that went sour. Workforce got this wrong,” CEO Tobi Lutke said, referring to a bet Shopify Inc July 26 10% of its “Ultimately, placing this bet was my call to make and I JPMorgan Chase & June 22 Over 1,000 “Our staffing decision this week was a result of cyclicalĬo employees changes in the mortgage market,” a spokesperson said. Salaried staff Musk said in emails seen by Reuters. Tesla Inc June 3 Roughly 10% in “I have a super bad feeling about the economy,” CEO Elon Pony Ma told staff the company should prepare for a Tencent Holdings March 16 10%-15% headcount In an internal meeting at Tencent at the end of 2021, CEO Them to make specific plans, a source told Reuters. It discussed jobĬuts with several business units that month and left it to In a sign of a tough second half of the year, growth in the world’s largest economy, the United States, shrank for the second straight quarter, while in the euro zone business growth slowed sharply in June due to rising cost of living.Ĭompany name Date Layoffs impact CommentaryĪlibaba Group March 16 About 39,000 staff Started firing employees in February. (Reuters) – Technology companies, crypto exchanges and financial firms are cutting jobs and slowing hiring as global economic growth slows due to higher interest rates, red-hot inflation and an energy crisis in Europe.