The crypto exchange announced in June it would lay off 18% of its workforce, or roughly 1,200 employees.Įthereum software company ConsenSys confirmed it is eliminating 96 positions, representing 11% of the crypo firm’s total workforce.Ĭ plans to cut about 20% of its global workforce, the company announced Jan. is eliminating 60 positions as the cryptocurrency market slumps. eliminated hundreds of technology positions this week with more than 1,100 workers affected, according to a person familiar with the matter.Ĭoinbase Global Inc. In November, Amazon halted “new incremental" hiring across its corporate workforce.Ĭrypto platform is letting go of 28% of its workforce, around 110 employees, in its latest round of layoffs, announced early January.Ĭapital One Financial Corp. “These changes will help us pursue our long-term opportunities with a stronger cost structure."
“Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so," Jassy said. The cuts, which started last year, were initially expected to affect about 10,000 jobs. The e-commerce titan is laying off 18,000 employees, CEO Andy Jassy announced on Jan. urged the company to set a target for profit margins, increase share buybacks and reduce losses in its portfolio, noting Alphabet’s headcount has swelled 20% per year since 2017. Investors began to pressure the search giant to adopt a more aggressive strategy to curb spending. The company had in October reported third-quarter earnings and revenue that missed analysts’ expectations, with profit dropping 27% from a year earlier. Google parent Alphabet announced it will cut about 12,000 jobs, more than 6% of its global workforce, in a move that will affect roles across the company. Here’s a running list of who’s cutting jobs and pulling back on hiring. Their leaders are saying they expanded too quickly, with Alphabet Chief Executive Officer Sundar Pichai writing that he takes “full responsibility for the decisions that led us here,’’ in an email to employees on Friday.
Now, many of these businesses are reporting disappointing growth rates and dealing with sagging share prices as customer behavior returns to normal. Big tech companies like these benefitted from a boom in e-commerce spending and remote work that kicked off during the Covid-19 pandemic lockdowns in 2020.
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