Google To Amazon: IT Firms That Are Slowing Hiring, Bracing For Recession

Google To Amazon: IT Firms That Are Slowing Hiring, Bracing For Recession

With increasing recession fears and inflation, the war in Ukraine and Pandemi remaining in taking many technological companies that rethink the needs of their staff, with some of them institutionalized recruitment, offerings of disposal that cancel and even start layoffs.
The following is a dozen company that pulls back.

Alphabet Inc., Google’s parent company, slowed its recruitment efforts. According to the internal memo, Chief Executive Officer of Sundar Pichai told employees, that although the business added 10,000 Googler in the second quarter of it would slow down the recruitment rate of the remaining year and prioritized engineering and technical talent. “Like all companies, we are not immune to economic headwinds,” he said. The search giant has nearly 164,000 employees at the end of March.

Amazon.com Inc. said in April that it was excessive after increasing during Pandemi and needed to reduce. “When the variant subside in the second half of this quarter and employees returned from leave, we quickly switched from the shortage of staff to too many people, producing lower productivity,” said Head of Finance Brian Olsavsky.

Amazon is renting out some warehouse rooms and has stopped developing facilities intended for office workers, said it needs more time to find out how much space is needed by employees for hybrid work. The company has 1.6 million workers in March, making it the largest company in the world of technology.

Apple Inc. Planning to slow down recruitment and expenditure in several divisions next year to overcome the potential of economic decline, according to people who are familiar with this problem. But this is not a policy in all companies, and iPhone makers are still moving forward with an aggressive product release schedule. Apple has 154,000 employees in September, when the last fiscal year ended.

Carvana Co., Used Car Retail Online, stopped 2,500 people in May, around 12% of his workforce. In an unusual step, the executive team will release salaries for the rest of this year to pay severance pay to those released, according to the submission with the Securities and Exchange Commission. The company has more than 21,000 full -time employees and part time at the end of last year.

Coinbase Global Inc., Cryptocurrency exchange, told employees that they cut 18% of staff in June to prepare for economic declines. It also canceled a job offer. “We seem to enter the recession after an economic explosion of 10+ years,” CEO Brian Armstrong said in a blog post. “Although it is difficult to predict the economy or market, we always plan the worst so that we can operate business through any environment,” he said. The company ended the quarter with around 5,000 employees.

Compass Inc., Real Estate Broker Platform, eliminated 450 positions, around 10% of its staff, according to the submission last month. The company has nearly 5,000 employees at the end of 2021.

Gemini Trust Co., Cryptocurrency exchange founded by billionaire Bitcoin Cameron and Tyler Winklevoss, announced a 10% staff reduction in June.

Gopuff, the application of food delivery, stops 10% of its workforce and closes a dozen warehouse. Cutting will affect around 1,500 staff members of the company and warehouse employees.

Lyft Inc., the trip-travel platform, told employees that they curb the recruitment in May, after the stock fell quickly. The company has around 4,500 employees in 2021. Lyft Archrival Uber Technologies Inc. more optimistic. CEO Dara Khosrowshahi told Bloomberg in June that his company was “resistant to recession” and had no plans for layoffs.

Meta Platforms Inc., the parent from Facebook, cut plans to employ engineers at least 30%. CEO Mark Zuckerberg told employees that he anticipated one of the worst declines in this new history. The company has more than 77,800 employees at the end of March.

Microsoft Corp told workers in May that they slowed up recruitment in windows, offices and teams when he took care of economic volatility. The company has 181,000 employees in 2021. recently, software makers cut several jobs – less than 1% of the total – as part of reorganization.

Netflix Inc., Giant Streaming, has had several layoffs that have been highly published since reporting the disappearance of 200,000 customers in the first quarter. In April, he began to revive several marketing initiatives, then cut 150 employees in May and 300 in June. The last quarter, he reported $ 70 million in fees from severance pay and released 970,000 additional customers. Netflix has 11,300 employees in 2021.

Niantic Inc., Pokemon GO video game maker, fired 8% of his team in June. It was an attempt to streamline the operation and position the company for the weather of economic storms, CEO John Hanke told the staff in the email. Niantic has around 800 employees at the end of last year.

Peloton Interactive Inc. announced plans to cut around 2,800 jobs globally, about 20% of the company’s role, as part of a surprise reshuffle in February which made CEO John Foley and several executive team members resign. In 2021, the company reported that it had nearly 9,000 employees.

Redfin Corp, another real estate broker, cut 8% of its staff in June. “We do not have enough jobs for our supporting agents and staff,” CEO Glenn Kelman wrote in a blog post, said that possible demand was 17% under projection and that he hoped the company would grow slower during housing decline. The company has around 6,500 employees at the end of last year.

Robinhood Markets Inc., Online Brokers, ended 9% of his workforce in April. It has around 3,800 employees at the end of last year and collected more than $ 2 billion in loss since Go Public last July.

Rivian Automotive Inc. Planning to cut hundreds of non-manufacturing and team work with duplicate functions. South California electric vehicle makers, which have more than 14,000 employees, can make a total reduction of around 5%.

In the memo to employees, RJ Scaringe CEO said, “We will always focus on growth; However, Rivian is not immune to the current economic situation and we need to make sure we can grow sustainably.”

Salesforce Inc., a cloud computing platform, has slowed up recruitment and reduced travel costs, according to leaky memos reported in May by insiders.

Spotify Technology SA, audio service, cutting employee growth of around 25% to adjust macroeconomic factors, CEO Daniel Ek said in a note to staff in June. The company has more than 6,500 employees, according to its website.

Stitch Fix, an online arrangement service, said in June that they were pursuing a 15% reduction in a paid position- about 4% of their workforce- with the majority of the work of non-technological companies and the role of leadership of structuring. This overcomes higher costs and weaker demand. According to its website, the company has 8,900 employees.

Tesla Inc., an electric vehicle maker, cut 200 autopilot workers when closing facilities in San Mateo, California, in June. Elon Musk’s CEO said previously that layoffs would be needed in an increasingly unsteady economic environment.

In an interview with Bloomberg, he said that around 10% of paid employees would lose their jobs for the next three months, although the total number of employees could be higher in a year. The company has 100,000 employees globally at the end of last year.

Twitter Inc. Initiating the recruitment freezing and began to cancel the job offer in May, amid the uncertainty about the acquisition of Elon Musk on the company, according to the internal memo obtained by Bloomberg. The company has 7,500 employees in 2021.

Unity Software Inc., which made a video-game machine, surprised employees in June when sending pink slips to 200 from 5,900 workers, at 4% of their workforce. His CEO has convinced that the staff will not have layoffs, according to my city.

Wayfair Inc., online furniture retailer, initiated the freezing recruitment of 90 days in May. The company has 18,000 employees in March.

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