According to Forbes' layoff tracker, over 194,000 employees in the United States have lost their jobs in more than 150 major layoffs in 2023. These job cuts have affected various sectors, including technology, banking, media, and manufacturing, and have raised concerns about a potential recession.
Among the tech companies, Google's parent company Alphabet laid off 12,000 employees in January, with CEO Sundar Pichai describing it as a tough choice to seize future opportunities. In the same month, Salesforce cut 7,900 jobs, Goldman Sachs axed 3,200 jobs, and IBM let go of 3,900 employees. Amazon, which had previously announced plans to eliminate 18,000 positions, laid off 8,000 employees in addition to the 10,000 jobs cut in November. Microsoft also announced layoffs affecting 10,000 employees in January, followed by GitHub cutting 300 positions in February and another 158 employees being let go from Microsoft's headquarters in May.
Manufacturing giant 3M had two rounds of layoffs in 2023, cutting 2,500 positions in January and an additional 6,000 jobs in April. Other notable companies that experienced major layoffs include Morgan Stanley (3,000 positions), David's Bridal (over 9,200 positions), Dell (6,650 positions), and Disney (7,000 positions).
The parent company of Facebook and Instagram, Meta, faced significant layoffs this year. In April, 4,000 employees were laid off, followed by another 6,000 in May. In November, Meta announced another round of cuts, affecting 11,000 employees. CEO Mark Zuckerberg attributed these layoffs to a macroeconomic downturn and stated that they were the most difficult changes in Meta's history.
In addition to the tech industry, the media sector also experienced layoffs. Forbes' media layoff tracker reports that nearly 40 media companies, including ESPN, Bloomberg, Warner Bros. Discovery, and Vice Media, have made staff cuts.
These layoffs indicate the challenges faced by companies across various sectors in a rapidly changing economic landscape. As the job market continues to evolve, it remains to be seen how these companies will adapt and recover in the future.