More Layoffs Seen In Tech Companies Recently
If there is one thing tech companies, regardless of size and earnings, are doing more and more recently, it’s laying off some its workforce.Advertisement
In an email to employees a few days ago, Twitter’s recently named permanent Chief Executive Officer, Jack Dorsey, has admitted that the process, “isn’t easy. But it is right.” There were previous reports speculating that Twitter was about to lay off some of its staff. Eventually, Dorsey confirmed this by announcing that the company plans to let go of as much as 336 employees. Moreover, much of the layoffs would be done in the company’s Engineering department to make the said team leaner and meaner. However, Dorsey also said there would be a need to cut jobs throughout the rest of the organization so that it will be “streamlined in parallel.”
Meanwhile, Deadline reported recently that social media app company Snapchat may be preparing to lay off some of its staff as well as it looks to close down its Snap Channel business for good. Among those expected to exit the company as a result is Snap Channel Head of Program Planning and Development Marcus Wiley. Meanwhile, there are around 15 people who make up the Snap Channel team. It is expected that majority of them shall be laid off, though a number of junior executives may be retained and reassigned to other teams.
Earlier this year, both Microsoft and Hewlett Packard (HP) had announced company layoffs as a result of some restructuring done inside both organizations. In July, Microsoft announced it was laying off as much as 7,800 employees as it looks to restructure its phone hardware business following the company’s acquisition of Nokia Devices and Services business.
Meanwhile, Hewlett Packard (HP) also announced a few months ago that it is laying off between 25,000 to 30,000 people as part of the spinning off of its Enterprise Services business into Hewlett Packard Enterprise. The company hopes that in doing so, the newly formed company will have an ongoing annual cost reduction of $2.7 billion and as well as ongoing cost savings of about $0.7 billion.
At the same time, Business Insider reports that India-based company Zomato is looking to lay off as much as 300 workers. Moreover, majority of these job cuts will be done in the U.S.