In 2022 and early 2023, several technology companies announced successive rounds of redundancies, redundancies that are not always announced in advance. Amazon, Meta, Google and Microsoft were some of the Big Tech who communicated their intention to reduce the number of employees.

During the pandemic, this was the sector that hired the most to respond to all the requests that arose at a time when telework was the “king”. But now these companies are overstaffed, making redundancies necessary. Many companies started by paralyzing hiring, at the beginning of last year, but the decision was not enough and they were forced to reduce their workforce.

THE Web site, screened the redundancies of large companies and found that during 2022 more than 134,000 workers from technology companies were made redundant and that, in November, there were more than 42,350 redundancies from 122 companies, making this month the worst of all. Already 2023 has 56,570 redundancies.

On January 20, Google announced that it was going to cut 12,000 jobs. Human resources and engineering are some of the areas that will suffer the cuts.

On January 18th, it was Microsoft’s turn to announce the cut of ten thousand jobs, with the company blaming this reduction “on macroeconomic conditions and changing consumer priorities”. Despite this justification, the company was able to hold a private concert for the executives the day before the redundancies and only later warn that ten thousand workers would lose their jobs.

to amazon went the same way and cut 18 thousand jobs, Meta reduced eleven thousand and the social network Twitter 3,700, not counting the redundancies announced at the time of purchase by Elon Musk. Salesforce, the on demand software, cut seven thousand jobs. The largest electric car company, Tesla, was also forced to reduce six thousand jobs, along with the Shopify application, which announced 1,000 layoffs.

The fall of FTX, the largest trading of cryptocurrencies in the world, caused a meltdown in the crypto market, therefore the platforms associated with this market were also present in the redundancies announcements. Coinbase, a platform for buying and selling cryptocurrencies, also had to lay off two thousand of its workers. Following cryptocurrencies, also will lay off 500 employees.

The redundancy crisis also reached Netflix, which said it had to lay off 450 workers. The latest announcement came from the Spotify platform, which reported the dismissal of 600 employees.

Also in the banking and financial sector, the multinational Goldman Sachs had to lay off 3,200 employees. Despite having announced that this was going to happen, the company was considered “crude” and “impersonal” when carrying out redundancies, allowing only 30 minutes for employees to leave the building

There are reasons behind all these big announcements of redundancies, the most pointed being the current crisis that we are experiencing and the change in priorities on the part of the consumer, people with less money consume less in the technological sector, causing this to be in crisis and be forced to cut back on your expenses. But for many of these large companies, the biggest cause was excessive hiring during the pandemic.

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