Tech Giants Slash Jobs as Twitter Layoffs Spark Industry-Wide Cuts
Elon Musk initiates massive layoffs at Twitter, sparking a wave of job cuts across major tech companies like Lyft and Stripe. Meanwhile, Google officially shuts down Hangouts and SpaceX launches its Falcon Heavy rocket.
Elon Musk triggers massive upheaval at Twitter during his first full week as owner, initiating sweeping layoffs that reportedly affect up to half of the workforce. Employees discover their revoked access after a blunt email, prompting comparisons to "the snap" and sparking a class action lawsuit over alleged legal violations in the termination process.
The Twitter cuts mirror a brutal trend across the broader tech industry as companies rapidly reduce their headcounts. Lyft, Stripe, Opendoor, and Chime all announce significant percentage-based workforce reductions, while tech giants Apple and Amazon quietly implement widespread hiring freezes to weather the economic downturn.
Outside of the layoffs, Google officially shuts down its classic Hangouts web app to force users onto Google Chat, continuing its notorious cycle of launching and killing messaging platforms. In other positive developments, SpaceX successfully launches its Falcon Heavy rocket for the first time since 2019, and Amazon dramatically expands its Prime Music catalog to 100 million ad-free songs.