tech layoffs Major Tech Firms Slash Thousands of Jobs Amid Economic Downturn High-profile technology companies like Twitter, Stripe, and Lyft are laying off thousands of workers and freezing corporate hiring. These cutbacks reflect a brutal mix of rising interest rates, economic uncertainty, and slowing consumer spending rather than a permanent industry collapse.
opendoor Opendoor Cuts 18% of Workforce Amid Historic Real Estate Slump Opendoor lays off 550 employees as skyrocketing mortgage rates and inflation severely reduce housing demand. The proptech firm's stock plummets from previous highs as it navigates what its CEO calls the toughest market in 40 years.
clear capital Real Estate Tech Firm Clear Capital Cuts 27% of Workforce Amid Housing Slump Clear Capital lays off an estimated 378 employees as rising interest rates severely reduce mortgage industry volume. The company calls the restructuring a necessary response to a shifting housing market.
patreon Patreon Lays Off 17% of Workforce and Closes European Offices Patreon cuts 80 jobs across its Go-to-Market, Operations, Finance, and People teams while shutting down its Berlin and Dublin offices. The company insists the restructuring aims to ensure long-term stability for creators who rely on the platform.
facebook Teens Abandon Facebook as Twilio Faces Major Phishing Attack A new Pew study shows teen usage of Facebook drops from 71% to just 32% since 2014. Meanwhile, Twilio suffers a security breach impacting 125 customers after employees fall victim to an SMS phishing scam.
hootsuite Hootsuite Cuts 30% of Staff in Pursuit of Financial Sustainability Social media marketing company Hootsuite reduces its workforce by roughly 400 employees as its CEO aims to refocus the business. The Vancouver-based firm provides no details on severance or specific strategic changes.
hootsuite Hootsuite Cuts 30% of Staff in Push for Financial Sustainability Social media marketing company Hootsuite reduces its workforce by nearly a third as CEO Tom Keiser prioritizes efficiency and growth. The layoffs affect approximately 400 employees, though the company provides few details about severance or strategic changes.
meta Meta CEO Zuckerberg Warns of Economic Downturn, Vows to Do More With Less Meta CEO Mark Zuckerberg announces that the company faces a broad economic downturn impacting digital advertising and plans to steadily reduce headcount growth over the next year.
ai Top AI Trends of 2022 Signal Massive Shifts for 2023 Generative AI tools like DALL-E 2 and ChatGPT dominate 2022 headlines while new deepfake detectors and enterprise upgrades expand the technology's reach. Despite significant industry layoffs, advanced AI infrastructure sets the stage for even greater breakthroughs in 2023.
tech layoffs Economic Headwinds Drive Over 219,000 Tech Layoffs in 2022 Faced with inflation, supply chain issues, and declining revenue growth, tech companies lay off over 219,000 employees in 2022. Even strong cloud computing sectors show signs of slowing down as businesses brace for a potential recession.
tech layoffs Tech Layoffs Surge Past 16,000 in May as Reporters Seek Deeper Stories The tech startup layoff wave continues into June after over 16,000 workers lose jobs in May. Journalists and investors now question where these displaced talents end up next.
bird Bird Lays Off 23% of Workforce to Accelerate Path to Profitability Micromobility company Bird cuts 138 employees amid broader economic headwinds and a push for sustainable growth.
tech layoffs Tech Layoffs Surge as Startups Pivot Toward Sustainability Thousands of tech workers lose their jobs as companies across healthcare, SaaS, and crypto sectors cut staff to navigate market uncertainty. The reductions reflect a broader industry shift away from pandemic-era growth.
loom Video Messaging Startup Loom Cuts 14% of Staff Amid Economic Uncertainty Loom lays off 34 employees across product and people operations as it aims for sustainable growth. The Andreessen Horowitz-backed unicorn currently serves 14 million users across 200,000 companies.
google Google Fires Ethical AI Lead Mitchell Amid Ongoing Diversity Turmoil Google dismisses Ethical AI lead Margaret Mitchell following a five-week investigation into security policy violations, just months after the controversial firing of her co-lead Timnit Gebru.