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These US Companies Are Slashing Staff This Year

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These US Companies Are Slashing Staff This Year

These US Companies Are Slashing Staff This Year

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Many employees from companies across different industries lost their jobs in 2023, and according to reports, this year will be no different. 

A recent survey has revealed that about 40% of business leaders believe layoffs will happen at their companies this year, but that’s not all. At least half of these companies have confirmed there will also be a pause in hiring. 

Below are companies that have plans to send a percentage of their workers packing this year or have already done so.  

Nike

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The footwear brand plans to fire employees in a bid to cut costs, but it says those affected will get severance pay. The company shared its plans in December 2023, citing slow sales attributed to customers becoming more frugal. The revelation resulted in Nike’s stock plunging, but Nike will continue its plans. 

Google

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Earlier this year, Google dismissed hundreds of workers in its central engineering division and members of its hardware teams. The company sent out an email urging those affected to apply for open positions within the company if they wanted to remain.

Google stated that their exit would be permanent if they could not land any jobs before April 9. In 2023, at least 12,000 people were dismissed by the tech giant. 

Discord

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Discord reportedly has plans to lay off up to 170 workers. They informed their employees about this in early January, citing rapid expansion, and according to the company’s CEO Jason Citron, rapidly expanding as they did meant sacrificing efficiency, which is what they now wish to remedy. The company laid off 4% of its employees last August, but more will be laid off. 

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Citi

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The company announced layoffs in January as part of a more significant Citigroup attempt to restructure the business. This reduction follows what they described as a disappointing final quarter in 2023, leaving the company with less than 200,000 employees. 

Twitch

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The Amazon-owned company revealed in January that it would dismiss a third of its employees. CEO Dan Clancy told staff that the company explored cutting costs as an alternative, but they feel operation is bigger than necessary. As such, Clancy said they would dismiss about 500 people to right-size the company. 

BlackRock

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The famous company has plans to lay off about 3% of its workforce. The announcement was made in January and will affect around 600 people out of about 20,000. Of course, it’s not all bad news because the company has revealed plans to expand in other areas to aid growth in its overseas markets. This means they may hire more people later on. 

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Rent the Runway

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The fashion company plans to reduce its corporate jobs by 10% as part of a restructuring that may or may not be happening because the company’s COO and president, Anushka Salinas, is leaving the firm. Their decision to dismiss workers was announced also at the beginning of the year. 

Unity Software

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The popular video game software company will reportedly dismiss a whopping 25% of its workforce, which means 1800 people will be out of jobs. Like other companies on this list, they announced plans to do this in January. 

eBay

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According to the company’s CEO Jamie Iannone’s memo in January, eBay will send about 1000 people packing. Iannone believes the dismissals need to happen because the number of employees they have and their expenses now outpace how fast the business is growing.

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Microsoft

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Microsoft will reportedly downsize the workforce in its gaming divisions, dismissing about 1900 people in the process. Plans to do this were revealed in late January, shortly after it took over Activision Blizzard. The layoffs will allegedly be limited to employees at Activision Blizzard alone.

It is not the first time the company has reduced its workforce. One year ago, it sent about 10,000 people packing, and in July 2023, it reduced its employees by another thousand, cutting across sales and customer service teams. 

Salesforce

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There will be about 700 people who need a job after Salesforce is done downsizing. This follows the dismissals from last year when 10% of its total workforce was dismissed. According to the CEO, this happened because the company hired too many people during the pandemic.

Flexport

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Unlike many companies on this list, Flexport has already laid off 15% of its workers. This happened in January after its founder and CEO, Ryan Petersen, reduced its workforce by 20% in October. As the new year began, the company announced that it raised $260 million from Shopify and made moves towards returning to profitability.

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