Mass Layoffs in 2023: Detailed List & Reporting of Notable Company Cutbacks

Mass layoffs are a difficult but common occurrence in the business world that leaves many employees wondering how they’ll be affected and what to do should they find themselves holding a pink slip.

While the current employment market in the US is strong — with low unemployment rates and high job growth — this could all change in the near future as many businesses struggle to adapt to the changing economy.

Taking all of this into account, many US companies have already begun mass layoffs this year.

What is a mass layoff?

A mass layoff is the termination of a large number of employees from an organization at the same time. Mass layoffs are usually due to economic downturns.

A “mass layoff” can be defined when the following occurs:

  • When at least 50 employees are laid off within 30-days or less resulting in the laid-off employees equaling more than one-third of the company’s workforce
  • 500 employees are laid off within 30-days or less, no matter how large the company’s workforce

This can be devastating for both the individuals affected personally and the economy as a whole.

Everything you need to know about company layoffs this year:

Will there be more mass layoffs in 2024?

According to a 2023 report by Randstad RiseSmart, it is projected that a significant 92% of employers are preparing for layoffs in 2024, as they navigate the economic implications of the COVID-19 pandemic and adjust for potential overstaffing during this period.

In contrast, the emergence of new work trends, such as generative AI and sustainability practices, indicates a potential surge in job opportunities and shifts in certain job roles.

As the job market continues to evolve, it appears that there will be ample opportunities for those proficient in AI and flexible work structures, emphasizing the necessity for ongoing education and adaptability in a rapidly changing employment environment.

What companies have had mass layoffs this year?

Stellantis (Jeep parent company) mass layoffs:

Stellantis plans to cut thousands of jobs at its Jeep plants in Detroit and Toledo, citing California’s stringent emissions regulations as a competitive disadvantage.

The company will reduce shifts at both plants, affecting over 3,600 workers, due to declining Jeep sales and a shift to a traditional two-shift operation.

Stellantis has been resisting carbon emission reduction efforts, arguing it could lead to substantial fines.

Amidst industry-wide cost-cutting and restructuring, Stellantis, slow in transitioning to EVs, blames the transition and regulatory challenges for the layoffs.

Spotify mass layoffs:

Spotify, the Swedish music streaming giant, is cutting 17% of its workforce, amounting to about 1,500 jobs, as part of a cost-reduction strategy.

CEO Daniel Ek emphasized the need for the company to become more resourceful and lean, following over-hiring during 2020 and 2021.

This layoff is the third in 2023, in a tech industry that has seen over 250,000 job cuts this year.

Despite these reductions and a shift in strategy towards audiobooks and podcasting, Spotify has struggled to turn a profit and is offering departing employees severance packages including five months’ pay and additional support.

Bill mass layoffs:

Silicon Valley’s Bill, a payment management company, has cut nearly 400 employees, about 15% of its staff, as part of a major restructuring aimed at improving profitability and reducing dependence on interest-rate sensitive revenue.

CEO René Lacerte explained that the layoffs, which include closing the Sydney office and consolidating resources in San Jose and Houston, are necessary to focus on key priorities.

Affected employees will receive severance packages including four months’ pay, health benefits, a half-year bonus, equity vesting, and immigration support, amidst a broader trend of layoffs in the tech sector.

ByteDance (TikTok parent company) mass layoffs:

ByteDance, the parent company of TikTok, is scaling back its gaming unit Nuverse after two years of lukewarm performance, despite it being one of the firm’s six core business units and a rival to Tencent and NetEase.

The decision to restructure and initiate mass layoffs, starting Monday, has left many Nuverse employees uncertain about their future, especially since the total number of layoffs has not been announced.

This comes after significant investments, including a $4 billion acquisition of a Shanghai studio.

Amazon mass layoffs:

In January 2023, Amazon CEO Andy Jassy announced plans to cut 18,000 jobs worldwide, focusing on corporate and technology roles as part of a broader consolidation strategy.

This move, initially revealed in November 2022, began with layoffs constituting approximately 1% of the global workforce, or 3% of corporate staff.

In late April 2023, further layoffs occurred within Amazon Web Services (AWS).

Most recently, in November 2023, Amazon further reduced its workforce by cutting 180 employees from its gaming division.

Jezebel mass layoffs:

Jezebel, a prominent feminist blog, is suspending operations and laying off its staff as part of a broader restructuring by parent company G/O Media, announced CEO Jim Spanfeller.

Despite efforts to sell the publication and discussions with potential buyers, a new home for Jezebel couldn’t be secured.

This suspension, part of a wider industry trend of cutbacks amidst a challenging advertising climate, will result in 23 editorial staff positions being cut.

Dish Network mass layoffs:

Dish Network, based in Englewood, Colorado, is laying off over 500 employees due to evolving business needs and a strategic move for long-term success.

The layoffs come as the company faces a revenue dip to $3.7 billion and a loss of $139 million in Q3 of 2023. Employees affected by the restructuring will be notified within the week.

Dish, with a U.S. workforce exceeding 14,000, has not disclosed how many are Colorado-based.

Charles Schwab mass layoffs:

Charles Schwab has laid off about 5-6% of its workforce, roughly 2,000 individuals, amid efforts to cut costs and stay competitive.

These measures, part of a $500 million cost-cutting initiative announced in summer, largely target non-client-facing areas.

The exact number of layoffs wasn’t disclosed, but as of September 30, 2023, Schwab had 35,900 employees.

Splunk mass layoffs:

Cybersecurity firm, Splunk announced a layoff of roughly 7% of its global workforce, translating to about 500 employees, amid its upcoming acquisition by Cisco.

This comes after an earlier layoff of 300 employees in 2023, although CEO Gary Steele clarified that these decisions aren’t related to the Cisco deal.

Most affected employees are based in the U.S. and are expected to receive unspecified severance and healthcare packages.

The company, facing around $42 million in restructuring costs, remains tight-lipped on which teams will be impacted or the exact timing of the layoffs.

Bullhorn mass layoffs:

Bullhorn, a major player in the staffing industry, has announced a 9% workforce reduction, affecting roughly 144 of its 1,600 employees due to a downturn in the sector.

The company’s CEO, Art Papas, conveyed that while they had hoped to avoid layoffs, the staffing industry’s slowing growth post-pandemic necessitated the move.

Papas acknowledged the pain of parting with talented employees and assured that generous transition packages are in place to aid those affected.

Google (Alphabet) mass layoffs:

In January of 2023, Alphabet, the parent company of Google sent a memo written by chief executive, Sundar Pichai announcing that 12,000 employees — roughly 6% of the global workforce — would be laid off.

In response to Google’s mass layoffs, workers in London offices staged a walkout in early April.

Then in September, several outlets reported that Google laid off “hundreds” of recruiters from the company followed by dozens of jobs in its news devision including a significant number of director positions in October.

Nokia mass layoffs:

Nokia, the Finnish telecom giant, announced plans to cut between 9,000 and 14,000 jobs by 2026, affecting up to 16% of its 86,000-strong global workforce, in response to a significant drop in profits and product demand.

This decision follows a disappointing third quarter in which sales decreased by 20% from the previous year, leading to a 70% profit decline.

Nokia CEO Pekka Lundmark stated the cuts aim to ensure long-term profitability and competitiveness amid market uncertainties, with plans to save $424m in 2024 and $318m in 2025.

Geico mass layoffs:

In October, Geico is cuts 6% of its national workforce, impacting approximately 2,000 employees, including 5.5% in Western New York, as revealed in a letter from CEO Todd Combs.

The decision aims to bolster long-term profitability and growth.

Affected employees will be notified on Thursday, with support including career coaching and resume assistance.

Unaffected staff will have mandated in-office days starting January 1, 2024, differing from recent remote work trends.

LinkedIn mass layoffs:

On October 16, LinkedIn announced it would lay off 668 employees from its engineering, talent, and finance teams due to slowing revenue growth, marking its second round of job cuts this year.

This reduction, affecting over 3% of its 20,000 employees, contributes to the significant job losses in the tech sector amidst an uncertain economic landscape.

Despite the cuts, LinkedIn reaffirms its commitment to investing in strategic priorities for future growth, aiming to continue delivering value for its members and customers.

Qualtrics mass layoffs:

Qualtrics is laying off 780 employees, which is about 14% of its workforce, to address organizational complexities brought on by rapid hiring, as revealed by an internal memo from CEO Zig Serafin.

The experience-management software company, with a pre-cut headcount of 5,500, aims to enhance collaboration and decision-making processes through this restructuring.

Besides the layoffs, several roles will be shifted or relocated over the next year, impacting every team within the company as per Serafin’s memo.

This move follows a pattern of tech companies reducing staff in recent years, amidst industry downturns post a pandemic-driven software boom.

Washington Post mass layoffs:

The Washington Post revealed plans to offer voluntary buyouts aiming to reduce staff by 240, prompted by a realization of overly optimistic revenue projections in recent years.

Interim CEO Patty Stonesifer conveyed the goal to improve the company’s financial health in the coming year.

This move follows a previous staff reduction nine months ago and aims to prevent harsher measures like layoffs, striving for a stronger position in 2024.

Despite past expansions, this decision underscores a shift in resource allocation to meet customer needs amidst critiques from the Washington Post Guild regarding the company’s business decisions.

Stitch Fix mass layoffs:

Since January 2023, Stitch Fix has undergone two rounds of layoffs. The first round accounted for 15% of salaried positions, primarily in corporate and styling leadership, impacting about 330 individuals or roughly 4% of the total workforce.

This move followed a slowdown in revenue growth as the pandemic receded and consumers shifted their spending to physical stores, which also led to a 55% drop in the company’s stock value.

Now, a second round of layoffs is due to commence on December 1, with a phased approach set to continue through April 2024, marking the closure of their distribution center as per the notice filed with the Texas Workforce Commission.

This signifies an end to Stitch Fix’s operations in Dallas.

Epic Games mass layoffs:

Epic Games is laying off approximately 830 employees, equating to 16% of its workforce, due to financial instability, despite growing success with Fortnite’s creator ecosystem, which has garnered lower margins.

The company is divesting from Bandcamp, which is being acquired by Songtradr, and spinning off most of SuperAwesome, with its advertising business becoming an independent entity.

Epic is offering substantial severance packages to laid-off employees, including six months of base pay and healthcare coverage, among other benefits.

Meanwhile, core business ventures remain unaffected, with crucial projects like the next Fortnite Season and Fortnite Chapter 5 proceeding as scheduled as Epic continues to reshape its financial structure to aim for profitability and metamorphose into a leading metaverse company.

Talkdesk mass layoffs:

Talkdesk, a software company once valued at $10 billion, has undergone its third round of layoffs since last year.

While the exact number of affected employees remains undisclosed, the company had previously laid off up to 200 people in August 2022 and reduced its workforce again in early January.

CEO Tiago Paiva stated that despite the reductions, the company’s advancements in AI position them for continued innovation and they will still hire in “strategic areas.”

This move follows a trend in the tech sector, with several other software companies also announcing workforce reductions recently.

CVS mass layoffs:

CVS Health is set to eliminate approximately 5,000 non-customer-facing roles, less than 2% of its 300,000 employees, as part of a cost-cutting measure emphasizing healthcare services.

Those affected will receive severance, benefits, and outplacement services. Subsequent layoffs included over 500 employees in Connecticut, 157 in SoHo, and 140 in Massachusetts.

Despite being one of the nation’s largest drugstore brands with nearly 10,000 stores, CVS continues its corporate downsizing, impacting its corporate offices across various locations.

WWE mass layoffs:

World Wrestling Entertainment (WWE) recently streamlined its workforce, cutting over 100 positions after merging with UFC to form TKO Holdings.

Duplicate positions within WWE and its parent company, Endeavor Group Holdings, were eliminated.

WWE President Nick Khan mentioned that these workforce reductions are part of their transition into TKO Group Holdings.

Among those departing is WWE’s Executive Vice President of Development and Digital, Jamie Horowitz, who will join Omaha production, known for its “ManningCast.”

Vince McMahon, WWE’s owner, is rumored to return to the network to aid in media rights negotiations.

General Motors (GM) mass layoffs:

General Motors and Stellantis announced layoffs due to ongoing UAW strikes at three facilities.

GM laid off 2,000 workers in Kansas, and Stellantis laid off 68 in Ohio with the potential for 300 layoffs in Indiana.

As the strike continues, UAW warns more workers might join if negotiations don’t progress, with current demands including a mid-30s percentage pay raise.

Cisco mass layoffs:

After laying off 5% of its total workforce in December of 2022, Cisco notified employees in July that it would be laying off an additional 350 employees throughout Silicon Valley.

These employees comprised of mostly software engineering technical leaders, software engineers, project managers, and executive assistants were given the choice of leaving Cisco on either August 31 or October 16.

Airtable mass layoffs:

Airtable, a unicorn company valued at $11.7 billion, is laying off 237 employees, 27% of its workforce, as part of a strategy to target large enterprise clients and control spending.

CEO Howie Liu admits to getting caught in a post-COVID hiring spree, emphasizing the need for efficient growth and a more mature business approach.

The company, founded in 2013, aims to shift its focus from smaller clients to securing larger deals with customers having million-dollar-plus spend rates.

Grindr mass layoffs:

Grindr, the LGBTQ+ dating app, recently mandated its all-remote staff to commit to working from an office two days a week or face termination.

Since a return to office would mean many Grindr employees would have to move to Los Angeles, San Fransico, or Chicago, the policy resulted in 46% of the staff being let go after they declined the mandate, significantly impacting Grindr’s queer-friendly workplace culture.

Barstool Sports mass layoffs:

About 25% of Barstool Sports’ workforce will face layoffs, as reported by the New York Post.

Founder Dave Portnoy, who recently reacquired the site, expressed his aversion to firing people but emphasized the necessity of the move due to financial challenges.

Portnoy had previously sold Barstool Sports to Penn Entertainment only to repurchase it later, now owning 100% of the company.

He remains optimistic about the company’s future, vowing never to sell it again.

T-Mobile mass layoffs:

T-Mobile is cutting nearly 7% of its workforce, impacting around 5,000 corporate and tech roles, while retail and customer care positions remain untouched.

Despite promises of job growth after its 2020 Sprint merger, T-Mobile had a net decrease in employees by the end of that year.

CEO Mike Sievert cites the need to adapt to rising customer acquisition costs, and while no further company-wide layoffs are anticipated, affected employees will receive severance and a minimum of 60 days of transitional leave.

Salesforce mass layoffs:

Salesforce CEO Marc Benioff announced on January 4, 2023 that the B2B software company would be cutting 7,000 jobs, approximately 10% of its workforce, over the coming weeks.

Then, in August, the international company continued its job cuts in Ireland, part of a larger plan to prioritize profitability following a 10% reduction earlier this year.

This time, around 50 roles were impacted, separate from the initial companywide reduction.

The company aims to significantly reduce its headcount by the end of fiscal 2024 amidst a shift in focus towards margin expansion, echoing a trend of job cuts in other tech companies like Microsoft and Amazon.

Master Lock mass layoffs:

In late August, Master Lock informed the Wisconsin Department of Workforce Development of its plans to begin layoffs at its Milwaukee Manufacturing plant beginning in November and continuing until its closure in March 2024.

The decision to shut down, after over a century of operation since its foundation in 1921, will result in 325 — about 4% of employees — permanent layoffs.

The company emphasizes that the closure is a business decision and will collaborate with UAW Local 469 for a smooth transition for the affected employees.

Intel mass layoffs:

Intel is set to lay off over 300 employees in California, spanning roles in GPU software development, cloud computing, and AI, as part of its cost-cutting initiatives.

These layoffs come after Intel CEO Pat Gelsinger announced a significant spending reduction plan last year due to a demand slowdown, aiming for a company-wide transformation.

The affected positions include GPU software engineers, AI software engineers, cloud solution architects, and several managerial roles, with the layoffs impacting Intel’s Santa Clara headquarters, Folsom, and San Jose locations.

Tyson Foods mass layoffs:

Tyson Foods plans to close four plants nationwide, resulting in the loss of around 2,200 jobs.

Employees were informed in accordance with the WARN Act’s 60-day notice requirement for large-scale layoffs.

The company is making these significant cuts as part of its restructuring.

Yellow mass layoffs:

Yellow, a prominent U.S. trucking company with a 99-year history, has announced its closure due to financial struggles exacerbated by debt from numerous mergers and disputes with the Teamsters union.

The shutdown impacts nearly 30,000 jobs, including approximately 22,000 Teamsters members, and hundreds of nonunion employees were laid off as the company ceased accepting new shipments.

Despite the significant loss of jobs and revenue, the impact on the trucking industry is expected to be limited as many customers had already shifted their cargo to rival companies.

Anheuser-Busch mass layoffs:

Anheuser-Busch announced that it plans to lay off around 380 positions in its US corporate staff as it undergoes restructuring. The layoffs, affecting about 2% of the US employee population, will not include frontline staff.

The decision comes after Modelo Especial, brewed by Constellation Brands, surpassed Bud Light as the top-selling beer in the US for the second consecutive month.

Anheuser-Busch CEO, Brendan Whitworth, stated that the move was challenging but necessary to ensure long-term success for the organization.

Binance mass layoffs:

Amid a U.S. federal investigation, Binance, a leading crypto exchange, has been significantly reducing its workforce, with over 1,000 of its total 8,000 employees already dismissed in the U.S. and India.

The layoffs, which have affected customer-service workers heavily and are ongoing, could result in the company losing more than a third of its staff.

Microsoft mass layoffs:

In a memo sent to employees on January 18, 2023, Microsoft CEO Satya Nadella announced that the company is making changes that will result in 10,000 jobs being eliminated through the end of March 2023.

Then in July, it was announced that an additional 276 employees would be let go primarily in customer service, support, and sales, according to GeekWire which reported these layoffs first.

Niantic mass layoffs

Niantic, the creator of Pokémon GO, has laid off 230 employees, marking its second round of layoffs in a year.

The company is also discontinuing several projects, including NBA All-World and a Marvel-based game, following last year’s cancellation of four projects.

CEO John Hanke attributed the layoffs to a return to pre-pandemic revenue levels and underperforming new projects.

Disney / ESPN mass layoffs:

According to reports in May, the anticipated third and potentially final round of significant job reductions will commence before Memorial Day, impacting approximately 2,500 positions across the board.

These latest layoffs come after Disney CEO Bob Iger announced on February 8, 2023, that they planned to cut 7,000 jobs, representing more than 3% of its global workforce.

After Disney’s second round of layoffs in April totaling 4,000 jobs largely affecting ESPN divisions, the latest round began at the start of July affecting many well-known, and beloved on-air ESPN personalities.

Ford mass layoffs:

Ford Motor Company is reportedly preparing to lay off at least 1,000 salaried and contract employees, according to insiders who spoke to the Wall Street Journal.

The layoffs at Ford are expected to primarily affect the company’s software division, as well as its gas-powered and electric vehicle manufacturing sectors in an effort to align its staffing around “skills and expertise,” which would include hiring in key areas.

Uber mass layoffs:

In an internal memo, Uber recently announced that roughly 35% of its recruitment team — equalling roughly 200 recruiters — is set to experience layoffs in the near future as part of a company-wide restructuring.

The well-known on-demand ride service has made this decision to cut costs in response to the current economic conditions. This comes after the company has already reduced its recruitment staff through several smaller rounds of layoffs across various departments.

Spotify mass layoffs:

Spotify is laying off approximately 200 employees, about 2% of its workforce, in a strategic shift to better support its partnerships with global podcasters.

The decision, announced by Vice President Sahar Elhabashi, will affect employees in various locations, with those impacted receiving “generous severance packages.”

This move is part of Spotify’s broader effort to enhance its podcast unit, on which it has spent over $526 million since 2020 on acquisitions and high-profile sponsorships with figures like Meghan, Duchess of Sussex, and online personality Joe Rogan.

Rolls Royce mass layoffs:

Rolls Royce is reportedly considering significant layoffs that could result in around 3,000 job losses, based on expert advice.

These layoffs come as a result of the latest Rolls Royce plan to streamline its operations. As part of this strategy, Rolls Royce is also reportedly considering consolidating its non-manufacturing departments across its civil aerospace, defense, and power systems divisions.

The report suggests that the layoffs at Rolls Royce could predominantly affect its non-manufacturing sector, potentially leaving around 6% of its global workforce unemployed.

JPMorgan Chase mass layoffs:

JPMorgan Chase announced in late May that it would eliminate approximately 500 roles before the end of the month, primarily in the technology and operations sectors.

These layoffs come at a time when the bank currently has around 13,000 job vacancies as JPMorgan Chase occasionally reduces its workforce throughout the year, even while recruiting thousands of additional employees for various roles.

Meta (Facebook) mass layoffs:

As of May 25th, Meta’s latest round of layoffs that could affect around 6,000 of its employees has commenced.

This comes on the heels of April’s layoffs that included 4,000 employees across multiple different platforms including Facebook, Instagram, and WhatsApp.

Prior to April’s cuts, it was confirmed in an early March announcement that Meta would be conducting a second round of layoffs that would potentially affect 10,000.

This second round of layoffs came after Meta’s first mass layoff in its 18-year history in November of 2022 which affected 11,000 employees.

Equating to roughly 13% of the Meta workforce, this latest round of layoffs is an attempt to support Meta CEO, Mark Zuckerberg’s proposed, “Year of Efficiency.”

MTV News / Paramount Layoffs

MTV News, in business for 36 years, is reportedly shutting down soon due to mass layoffs at parent company Paramount Global.

The closure of MTV News is a significant result of the broader layoffs at Paramount, which are anticipated to affect 25% of employees at Showtime, MTV Entertainment Studios, and Paramount Media Networks.

Shopify mass layoffs:

After a profitable first quarter, Shopify announced that it would begin layoffs of 20% of its workforce.

Reasons for these layoffs point to decreasing demand as compared to pandemic peaks that resulted in the building of a large fulfillment arm of the company.

Morgan Stanley mass layoffs:

In its latest round of mass layoffs, Morgan Stanley announced in early May that it would be laying off around 3,000 individuals from its workforce.

These layoffs account for roughly 5% of their global workforce and will exclude financial advisers and others from the wealth management sector of the organization.

Jenny Craig mass layoffs:

On May 1, 2023, Jenny Craig announced it would be declaring bankruptcy and shutting down its corporate offices in an attempt to transition to an eCommerce model.

These notices outline that these office closures could begin as early as May 5th and that employee layoffs are most likely imminent.

No word yet as to how many Jenny Craig employees could be affected by these possible layoffs.

Amazon mass layoffs:

Amazon CEO Andy Jassy announced on January 4, 2023 via an internal memo, that they plan to cut 18,000 jobs worldwide centered around corporate and technology jobs, these initial layoffs are just the beginning of Amazon’s overall plan to consolidate certain teams.

After announcing plans for mass layoffs in mid-November 2022, Amazon began letting employees go on November 16th. These layoffs will make up roughly 1% of its global workforce or 3% of its corporate employees.

As of late April 2023 Amazon began another round of layoffs in their company cloud division, Amazon Web Services (AWS).

3M mass layoffs:

As a recession in the manufacturing industry looms near, the multinational conglomerate, news broke on April 25th that multinational conglomerate, 3M would begin mass layoffs of 6,000 of its global workforce.

These layoffs come as part of an internal restructuring of the company noting that these layoffs are expected to save 3M an estimated $900 million a year before taxes.

David’s Bridal mass layoffs:

Amidst rumors of a potential bankruptcy or sale, David’s Bridal announced it will lay off 9,236 employees across the United States.

According to the Wall Street Journal, David’s Bridal employs roughly 11,000 workers which would mean these layoffs account for more than 80% of its total workforce.

The layoffs are set to begin in spring and continue through the end of the summer.

Zoom mass layoffs:

Zoom CEO Eric Yuan announced layoffs of 1,300 employees, or 15% of its workforce, in an email on Tuesday, February 7th, 2023. As part of that announcement, Yuan said he will also reduce his salary by 98% this year, while other executives will see a 20% cut.

These layoffs will impact every department within the company, and laid-off employees are said to be receiving up to 16 weeks’ salary and healthcare coverage as severance.

Dell mass layoffs:

Due largely to the rapid reduction in the demand for PCs, as evidenced by a 37% decline in PC shipments in Q4 of 2022, computer manufacturer, Dell announced on February 6th, 2023 it will be laying off 6,500 people from its workforce

At 5% of its global workforce, these layoffs come as another cost-cutting measure in addition to hiring freezes and travel restrictions the company had already put into place.

PayPal mass layoffs:

PayPal closed out January 2023 by announcing that it would be laying off 2,000 employees, making up roughly 7% of its workforce.

The layoffs, scheduled to take place over the first few weeks of February, come as a result of the company’s attempts to “right-size” its cost structure, and focus its resources on its “core strategic priorities,” according to the statement made by PayPal President, Dan Schulman.

IBM mass layoffs:

IBM announced on Wednesday, January 25th that it will be cutting roughly 3,900 positions, or 1.5% of its global workforce, as a result of the previously announced spinoff and sale of two business units.

This move is expected to cost the company around $300 million this quarter making IBM the latest tech giant to make significant cuts to its workforce.

Twitter mass layoffs:

On Friday, November 4th, 2022 Twitter laid off 3,700 employees — nearly half of its global employees — in its first round of mass layoffs.

Twitter’s mass layoff affected many departments, including the content moderation teams, sales, and advertising departments, and engineering & development divisions.

Twitter’s mass layoff of nearly 50% of its workforce was the largest mass layoff of 2022 by a tech company.

In a second round of mass layoffs, 200 — roughly 10% — of Twitter’s remaining workforce was laid off late in February of 2023, since then, leaving Twitter sued for mass layoffs.

Spotify mass layoffs:

The latest in a slew of tech company mass layoffs in January, Spotify announced that it would be letting go of 6% of its global workforce.

In the message sent to employees that was also posted online, CEO Daniel Ek announced changes to high-level management and cited the need for speed and efficiency as some of the driving forces behind these “organizational changes.”

With roughly 6,600 global employees the 6% layoffs would account for roughly 400 of Spotify workers.

DirecTV mass layoffs:

DirecTV announced that it would be laying off 10% of its management which accounts for about half of its total workforce. In a memo sent on January 6th, 2023 employees were made aware of the layoffs and reports say that the affected workers’ last day is January 20th.

After losing roughly 400,000 subscribers in Q3 of 2022, DirecTV continues to struggle to keep up with streaming entertainment services.

“The entire pay-TV industry is impacted by the secular decline and the increasing rates to secure and distribute programming,” a DirecTV rep said in a statement. “We’re adjusting our operations costs to align with these changes and will continue to invest in new entertainment products and service enhancements.”

Vimeo mass layoffs:

Popular video-hosting platform Vimeo plans to lay off 11% of their employees in January, 2023. This round of layoffs is on top of the 6% laid off in Juley, 2022.

CEO Anjali Sud stated the staff layoffs were necessary to give the company “financial flexibility,” while also noting “It is also the right thing to do to enable Vimeo to be a more focused and successful company, operating with the necessary discipline in an uncertain economic environment.”

Companies with layoffs in 2023:

  • Stellantis layoffs: 1% of workforce laid off (December 2023)
  • Spotify layoffs: 17% of workforce laid off (December, 2023)
  • Bill layoffs: 15% of workforce laid off (December, 2023)
  • ByteDance mass layoffs: undisclosed number laid off (November 2023)
  • Jezebel mass layoffs: 100% of workforce laid off (November 2023)
  • Dish Network mass layoffs: 3.5% of workforce laid off (November 2023)
  • Charles Schwab mass layoffs: 5-6% of workforce laid off (November 2023)
  • Siemens Healthineers mass layoffs: 1% of workforce laid off (November 2023)
  • Stroock & Stroock & Lavan mass layoffs: 27% of workforce laid off (November 2023)
  • Shipt mass layoffs: 3.5% of workforce laid off (November 2023)
  • Shell mass layoffs: .2% of workforce laid off (November 2023)
  • Medical Solutions mass layoffs: 10% of workforce laid off (November 2023)
  • Faire mass layoffs: 20% of workforce laid off (November 2023)
  • Panera Bread mass layoffs: 3% of workforce laid off (November 2023)
  • Condé Nast mass layoffs: 5% of workforce laid off (November 2023)
  • Splunk mass layoffs: 7% of workforce laid off (November 2023)
  • Master Lock mass layoffs: 4% of workforce laid off (November 2023)
  • Bandcamp mass layoffs: 50% of workforce laid off (October 2023)
  • Bungie mass layoffs: 8% of workforce laid off (October 2023)
  • Beam Therapeutics mass layoffs: 20% of workforce laid off (October 2023)
  • Bullhorn mass layoffs: 9% of workforce laid off (October 2023)
  • Shipt mass layoffs: 3.5% of workforce laid off (October 2023)
  • Nokia mass layoffs: 16% of workforce laid off (October 2023)
  • Geico mass layoffs: 6% of workforce laid off (October 2023)
  • Rolls-Royce mass layoffs: 6% of workforce laid off (October 2023)
  • Flexport mass layoffs: 20% of workforce laid off (October 2023)
  • Qualcomm mass layoffs: 2.5 % of workforce laid off (October 2023)
  • LinkedIn mass layoffs: 3% of workforce laid off (October 2023)
  • Ally Financial mass layoffs: 5% of workforce laid off (October 2023)
  • Qualtrics mass layoffs: 14% of workforce laid off (October 2023)
  • Washington Post mass layoffs: 9% of workforce laid off (October 2023)
  • Epic Games mass layoffs: 16% of workforce laid off (September 2023)
  • Talkdesk mass layoffs: 20% of workforce laid off (September 2023)
  • General Motors (GM) mass layoffs: 1% of workforce laid off (September 2023)
  • Center for Antiracist Research mass layoffs: 50% of workforce laid off (September
  • WWE mass layoffs: 12% of workforce laid off (September 2023)
  • Cisco mass layoffs: .4% of workforce laid off (September, 2023)
  • Airtable mass layoffs: 27% of workforce laid off (September 2023)
  • Slalom mass layoffs: 7% of workforce laid off (September 2023)
  • Grindr mass layoffs: 46% of workforce laid off (September 2023)
  • Roku mass layoffs: 10% of workforce laid off (September 2023)
  • PDC Energy (Chevron) mass layoffs: 33% laid off (September 2023)
  • Barstool Sports mass layoffs: 25% of workforce laid off (August 2023)
  • Farmers Insurance mass layoffs: 11% of workforce lad off (August 2023)
  • T-Mobile mass layoffs: 7% of workforce laid off (August 2023)
  • Twiga mass layoffs: 33% of workforce laid off (August 2023)
  • Intel mass layoffs: .2% of workforce laid off (August 2023)
  • BlueRock mass layoffs: 12% of workforce laid off (August 2023)
  • AppFolio mass layoffs: 9% of workforce laid off (August 2023)
  • Tyson Foods mass layoffs: 1% of workforce laid off (August 2023)
  • Emergent Biotech mass layoffs: 15% of workforce laid off (August 2023)
  • Rapid7 mass layoffs: 18% of workforce laid off (August 2023)
  • CVS mass layoffs: <2% of workforce laid off (August 2023)
  • KuCoin mass layoffs: 30% of workforce laid off (July 2023)
  • Yellow mass layoffs: 100% of workforce laid off (July 2023)
  • Kape Technologies mass layoffs: 30% of workforce laid off (July 2023)
  • Entertainment Tonight mass layoffs: 10% of workforce laid off (July 2023)
  • Anheuser-Busch mass layoffs: 2% of workforce laid off (July 2023)
  • BioGen mass layoffs: 11% of workforce laid off (July 2023)
  • FibroGen mass layoffs: 32% of workforce laid off (July 2023)
  • Allina Health mass layoffs: 1% of workforce laid off (July 2023)
  • Binance mass layoffs: 12% of workforce laid off (July 2023)
  • Walgreens mass layoffs: .16% of workforce laid off (July 2023)
  • Niantic mass layoffs: ~28% of workforce laid off (July 2023)
  • Ford mass layoffs: 1% of workforce laid off (June 2023)
  • Robinhood mass layoffs: 7% of workforce laid off (June 2023)
  • Uber mass layoffs: 1% of workforce laid off (June 2023)
  • Grubhub mass layoffs: 15% of workforce laid off (June 2023)
  • Spotify mass layoffs: 2% of workforce laid off (June 2023)
  • Rolls Royce mass layoffs: 6% of workforce laid off (May 2023)
  • JPMorgan Chase mass layoffs: .2% of workforce laid off (May 2023)
  • Paramount mass layoffs: 25% of workforce laid off (May 2023)
  • Shopify mass layoffs: 20% of workforce laid off (May 2023)
  • Morgan Stanley layoffs: 5% of workforce laid off (May 2023)
  • David’s Bridal layoffs: 83% of workforce laid off (April 2023)
  • Roku layoffs: 6% of workforce laid off (March, 2023)
  • Lucid Group layoffs: 18% of workforce laid off (March, 2023)
  • Meta layoffs: 13% of workforce laid off (March, 2023)
  • Twitter layoffs: 10% of workforce laid off (February, 2023)
  • Twillo layoffs: 17% of workforce laid off (February, 2023)
  • Roomba layoffs: 7% of workforce laid off (February, 2023)
  • Disney layoffs: 3% of workforce laid off (February, 2023)
  • Zoom layoffs: 15% of workforce laid off (February, 2023)
  • Dell layoffs: 5% of workforce laid off (February, 2023)
  • HubSpot layoffs: 7% of workforce laid off (February, 2023)
  • PayPal layoffs: 7% of workforce laid off (February, 2023)
  • IBM layoffs: 1.5% of workforce laid off (January, 2023)
  • Gemini layoffs: 10% of workforce laid off (January, 2023)
  • Yankee Candle layoffs: 13% of office workers laid off (January, 2023)
  • 3M layoffs: <1% of workforce laid off (January, 2023)
  • Spotify layoffs: 6% of workforce laid off (January, 2023)
  • Google (Alphabet) layoffs: 6% of workforce laid off (January, 2023)
  • Microsoft layoffs: 4-5% of workforce laid off (January, 2023)
  • Amazon layoffs: 1-2% of workforce laid off (January, 2023)
  • Carta layoffs: 10% of workforce laid off (January, 2023)
  • Coinbase layoffs: 20% of workforce laid off (January, 2023)
  • DirecTV layoffs: 5-6% of workforce laid off (January, 2023)
  • Salesforce layoffs: 10% of workforce laid off (January, 2023)
  • Vimeo layoffs: 11% of workforce laid off (January, 2023)
  • Goldman Sachs layoffs: 8% of workforce laid off (January, 2023)
  • Compass layoffs: size of layoffs not immediately known (January, 2023)
  • Stitch Fix layoffs: 20% of workforce laid off (January, 2023)

What companies had mass layoffs last year?

DoorDash mass layoffs:

On November 30th, 2022 a company spokesman for DoorDash confirmed that the company will layoff approximately 1,250 employees — representing 6% of the company’s staff. CEO Tony Xu called the mass layoff “the most difficult change to DoorDash that I’ve had to announce in our almost 10-year history.”

DoorDash’s stock price is down more than 60% since January, 2022.

Zillow mass layoffs:

Citing continued declines in the housing market, online real estate services company, Zillow laid off 300 employees at the end of October 2022.

At roughly 5% of its overall employees, these layoffs come as a result of mounting fears of an impending recession.

Peloton mass layoffs:

After Peloton had mass layoffs back in February of 2022, resulting in 20% of its workforce being laid off, the fitness company announced yet another round of layoffs (October, 2022), laying off 500 employees who made up 12% of their current workforce.

The layoffs, first reported by The Wall Street Journal, are reported as Peloton’s most recent attempt at internal restructuring as a result of the rapid drop in sales after its record growth during the at-home workout boom during the pandemic.

Snapchat mass layoffs

Snap Inc. has confirmed that the company will lay off 20% of its employee workforce, which accounts for approximately 1,300 people (September, 2022)

The layoff news was confirmed by Snap spokesman on August 31st, 2022 noting the layoffs were in an attempt to bring down costs.

The layoffs will be predominately from their content team, ending production for most of their original Snapchat long-form shows. Employee layoffs will also occur in the company’s hardware division.

SoundCloud layoffs

After an eventful year of teaming up with the likes of Pandora and Splice, in early August 2022 SoundCloud CEO, Michael Weissman announced that the online music streaming community platform would be reducing its global headcount by around 20%.

Cited as part of a “significant company transformation” and a tumultuous economic landscape, SoundCloud layoffs are set to affect employees worldwide — not just here in the United States.

Netflix mass layoffs 

The streaming giant’s subscriber count continues to shrink and as a result, Netflix has laid off 150 workers accounting for about 2% of its workforce in June 2022.

Citing slowing revenue as the reason for slow company growth, Netflix representatives explain that these layoffs come as the result of a business need and not due to any personal performance issues of those being let go.

Carvana mass layoffs

In one of the largest mass layoffs this year, Carvana cited a recession in auto sales as the main driver in laying off 2,500 employees in November, 2022.

Reports of this mass layoff have revealed that these 2,500 Carvana employees were made aware of layoffs via Zoom.

Coinbase mass layoffs

The cryptocurrency exchange platform announced that it would be laying off 18% of its workforce in June, 2022.

CEO Brian Armstrong cited a possible recession, a need to manage costs, and growing “too quickly” during a bull market as reasons for laying off almost one-fifth of the Coinbase workforce, leading many to wonder if this is a sign of things to come for the crypto industry at large.

Compass & Redfin mass layoffs

As the housing market remains as volatile as ever and interest rates continue to rise, Compass, a real estate brokerage, announced that it would be laying off 13% of its employees in November, 2022 — this after Compass laid off 18% of its workforce in June, 2022.

Redfin, another real estate brokerage feeling the effects of declining home sales, announced that it will be cutting its workforce by 8% in June, 2022.

These layoffs come as both companies have been struggling to keep up with the slowing housing market.

Companies with layoffs in 2022:

  • Cisco layoffs: 5% of workforce laid off (December, 2022)
  • DoorDash layoffs: 6% of workforce laid off (November, 2022)
  • Candy Digital layoffs: 33% of workforce laid off (November, 2022)
  • Redfin layoffs: 13% of workforce laid off(November, 2022)
  • Amazon layoffs: 1% of workforce laid off beginning (November, 2022)
  • Meta layoffs: 13% of workforce laid off (November, 2022)
  • Twitter layoffs: 50% of workforce laid off (November, 2022)
  • Zillow layoffs: 5% of workforce laid off (October, 2022)
  • Peloton layoffs: 12% of workforce laid off (October, 2022)
  • DocuSign layoffs: 9% of workforce laid off (September, 2022)
  • Taboola layoffs: 6% of workforce laid off (September, 2022)
  • Snapchat layoffs: 20% of workforce laid off (September, 2022)
  • Outbrain layoffs: 3% of workforce laid off (July, 2022)
  • Lyft layoffs: 2% of workforce laid off (July, 2022)
  • The Mom Project layoffs: 15% of workforce laid off (July, 2022)
  • Opensea layoffs: 20% of workforce laid off (July, 2022)
  • Substack layoffs: 14% of workforce laid off (June, 2022)
  • Ninantic layoffs: 8% of workforce laid off (June, 2022)
  • MasterClass layoffs: 20% of workforce laid off (June, 2022)
  • Bird layoffs: 23% of workforce laid off (June, 2022)
  • Superhuman layoffs: 22% of workforce laid off (June, 2022)
  • Cameo layoffs: 25% of workforce laid off (May, 2022)
  • Robinhood layoffs: 9% of workforce laid off (April, 2022)
  • Virgin Hyperloop layoffs: 50% of workforce laid off (February, 2022)
  • Peloton layoffs: 20% of workforce laid off (February, 2022)
  • Beachbody layoffs: 10% of workforce laid off (January, 2022)

What other companies had mass layoffs last year?

Although not technically a “mass” layoff (more than 1/3 of the company or more than 500 employees laid off in 30-days) the following companies have seen large layoffs in 2022:

DocuSign layoffs this year

DocuSign announced in September that it plans to cut around 9% of its workforce.

Like many other major corporations making mass layoffs, DocuSign says these layoffs are a part of a major restructuring plan ahead of the expected recession.

Ford Motor Company layoffs this year

Ford announced in late-August 2022 plans to lay off 2,000 salaried workers and 1,000 contract workers across the US, Canada and India — with a large percentage of these layoffs occurring in Michigan.

The layoffs will be effective September 1, 2022 according to a company spokesman.

7-Eleven layoffs this year

7-Eleven laid off at least 880 corporate employees in July of 2022 at offices in Ohio and Texas. A company spokesman said these layoffs were the result of an ongoing “integration process” after it bought rival Speedway in 2020.

Shopify layoffs this year

According to the WSJ, Shopify plans to lay off approximated 1,000 employees, roughly 10% of its global workforce.

In an internal memo on July 26, CEO Tobi Lutke told employees his belief that post-pandemic e-commerce would continue to grow did not come to fruition, noting “It’s now clear that bet didn’t pay off. Ultimately, placing this bet was my call to make and I got this wrong.”

Vimeo layoffs this year

Popular video-hosting platform Vimeo laid off 6% of their employees in July, 2022. CEO Anjali Sud stated the staff layoffs were necessary to give the company “financial flexibility,” while also noting “after assessing the challenging market conditions and uncertainty ahead, I believe this is the responsible action to take.”

Tesla layoffs this year

In late June, Tesla laid off 229 employees largely from it’s Autopilot team — with the majority being hourly workers, which is surprising given that CEO Elon Musk stated earlier in the year layoffs would be targeted at salaried positions.

Loom layoffs this year

While not technically a “mass” layoff, video messaging and collaboration service Loom recently laid off 34 members of its relatively small staff accounting for 14% of its overall workforce.

While Loom hosts 14 million monthly users, these layoffs are said to be a part of the company’s overall strategy for more sustainable growth moving forward.

What is the WARN Act?

The Worker Adjustment and Retraining Notification (WARN) Act is a US law that requires employers with 100 or more employees to provide a 60-day advance notification of plant closings and mass layoffs.

The act aims to provide employees with sufficient time to seek alternative employment or retraining opportunities, ensuring a smoother transition during such challenging times.

What to do if you’ve been laid off

While you may be overwhelmed by what to do after being laid off, there are a few important things you should do immediately after.

If you’ve recently been laid off, be sure to take care of these three things immediately before figuring out what to do next…

Tip 1: File for unemployment immediately

Filing for unemployment is the first step you should take if you’ve been laid off. You can usually file for unemployment online, simply by providing information like your Social Security number, driver’s license or state ID number, and contact information for your previous employer.

Tip 2: Health insurance options

Exploring your health insurance options after being laid off is also important. If you were previously covered by your employer, you may be eligible for COBRA, which allows you to keep your health insurance for a certain period of time after leaving your job.

Tip 3: Retirement savings

If you had access to a 401k contribution plan at your former employer, you have the option to cash out your 401k, though this option is usually not advised as certain penalties can be incurred.

There is also the option to roll the account over into an IRA but take the time you need to decide which option is best for you with a licensed finance professional.

Top industries to apply to after you’ve been laid off 

Once you’ve taken care of those 3 housekeeping items to stay afloat while you search for your next job, take some time to update your resume, start networking, and consider the following industries in high demand for talented professionals.

Tech Industry

The tech industry is always in need of talented professionals and there is no sign of that changing anytime soon. Companies like Google, Amazon, and Apple are always on the lookout for top talent in fields with top salaries in data science, software engineering, and product management.

Digital Marketing Industry

The rise of social media and online advertising has led to a boom in the digital marketing industry. Companies are in need of talented marketers to help them reach their target audiences online in new and innovative ways.

With countless, in-demand roles with top salaries in social media and digital marketing, now is a great time to consider a career as a social media coordinator, digital marketing manager, and more.

Creative Industry

The creative industry, which includes roles with top salaries in web design, graphic design, and copywriting, is also in high demand.

Companies are always looking for creative professionals to help them stand out from the competition. If you’re a creative professional who has recently been laid off, consider pursuing a career in the creative industry.

For a complete breakdown of all the top Tech, Creative & Digital Marketing salaries, download our 2023 Salary Guide.

Are companies laying off in 2023?

While employment trends for 2023 continue to change and evolve and many companies have experienced mass layoffs, economists say that this won’t necessarily be the norm moving forward.

Recent U.S. employment numbers show that employment rates remain steady and although certain sectors have been hit by layoffs harder than others, these companies are largely those that saw larger than average growth throughout the Covid-19 pandemic.

Were you affected by a mass layoff?

Every year,  Mondo helps over 2,000 candidates find jobs they love.

If you’ve been affected by mass layoffs in 2022 or 2023, remember you still have plenty of options.

There are many industries that are still hiring and there are many things you can do to improve your employability.

Be sure to file for unemployment, explore your health insurance options, and update your resume before applying to jobs in high-demand industries like tech, digital marketing, and the creative arts.

With a little effort, you’re sure to find yourself gainfully employed again in a fulfilling role.

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