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2024 is already proving to be a tough year for layoffs. A small number of companies have cut jobs in recent weeks, creating uncertainty for workers across all industries.
In the retail and technology worlds, some of these cuts come after the job increases seen during the COVID-19 pandemic, when people spent more time and money online. will be done. Many companies are currently cutting back on employees to cut costs and strengthen profits.
Here are some technology and retail companies that have recently laid off employees.
REI headcount reduction
REI will lay off 357 employees, primarily at the outdoor retailer’s corporate headquarters and distribution centers. “Outdoor specialty retail has experienced four quarters of decline, and that trend is getting worse,” CEO Eric Ertz said in a letter to employees, noting that REI It said it had outperformed this in most areas, but the trend had caught up with it. Difficult conditions are expected in 2024.
Levi’s dismissal
Levi Strauss & Company announced it will cut its workforce by 10% to 15% worldwide in the first half of this year as part of a two-year restructuring plan aimed at cutting costs and simplifying business operations. On the same day as the layoffs, Levi’s announced a proposed 10-year extension of the naming rights to Levi’s Stadium, home of the San Francisco 49ers, in a $170 million deal.
Microsoft layoffs
Microsoft will lay off about 1,900 employees in its gaming division, according to an internal memo. The job cuts represent about an 8% reduction in Microsoft’s 22,000 gaming workforce and come just over three months after the tech giant completed its $69 billion acquisition of video game maker Activision Blizzard.
TikTok headcount reductions
TikTok has announced dozens of layoffs in its advertising and sales departments. A company spokesperson confirmed that the social media platform is cutting 60 jobs. TikTok, which is owned by Beijing-based ByteDance, did not provide a reason for the layoffs.
Riot Games staff cuts
Riot Games, the video game developer behind the popular multiplayer competitive game League of Legends, is cutting 11% of its staff. The company, which is owned by Chinese technology giant Tencent, announced that 530 jobs will be cut.
eBay layoffs
Online retail giant eBay plans to cut about 1,000 jobs, or an estimated 9% of its full-time workforce, as headcount and costs are outpacing business growth amid the economic slowdown.
fair dismissal
Online furniture retailer Wayfair will cut about 1,650 jobs, or 13% of its global workforce. The reorganization will reduce team size and reduce seniority in certain roles across the company, and CEO and co-founder Niraj said the company plans to “relevel and restructure” this year. Mr. Shah said.
Macy’s layoffs
Macy’s will lay off approximately 3.5% of its total workforce (approximately 2,350 people). The iconic department store will also close five stores in Arlington, Virginia. San Leandro, California. Lihue, Hawaii. Simi Valley, California. and Tallahassee, Florida.
Google layoffs
Google has announced that it will lay off hundreds of employees across its hardware, voice assistance, and engineering teams. The layoffs follow promises by executives at Google and its parent company Alphabet to cut costs. A year ago, Google announced it would lay off 12,000 people, or about 6% of its workforce.
Amazon job cuts
Amazon-owned Twitch is cutting more than 500 jobs to cut costs. Dan Clancy, CEO of the video streaming platform, said in an email to employees that despite cost reductions and efficiency improvements, the platform “has not achieved the scale necessary given the size of our business.” “It’s still significantly higher than that.”
Audible, the online audiobook and podcast service owned by Amazon, will lay off about 5% of its employees. Audible CEO Bob Carrigan said in a memo to employees that the company is in good shape but faces “increasingly challenging conditions.” Additionally, Amazon’s Prime Video and MGM Studios divisions are cutting hundreds of jobs as they cut back on non-distribution areas.
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