Amazon, Meta, Twitter. Because the tech giants lay off en masse
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Facebook 11,000 layoffs. Amazon 10,000. Getir 4.480. Booking.com 4,375. Twitter 3,700, 50% of its employees. 2022 is probably the toughest year ever for tech companies. 1,574 companies in every corner of the world have so far had to make layoffs to deal with the current difficulties.
Many. Of a different nature. But they all revolve around some common denominators. From the impact of inflation to that of the end of the pandemic, which has moved the hands of time back; overturned all predictions that wanted the definitive triumph of ecommerce; annihilated the online advertising market.
A long list of companies (and layoffs)
The list of companies that have had to lay off continues with important names and numbers. Uber 6,700. Pelotons 2,800. Groupon 2,800. The data collected by Layoff currently registers a partial 121,000 layoffs in the sector since the beginning of the year. 106,000 in the United States alone. But according to the data collected by the project, there were also 16,000 layoffs in Europe among technology companies. Italy is not among the countries on the Layoff map.
But there have also been layoffs here in Italy. Gorillas, Getir’s main competitor on home shopping, closed last July leaving 540 people at home. Again, it was the reopenings that caused business to come to a screeching halt. And still staying in Italy, Meta has fired 22 people in its crackdown on the job.
However, all partial data. The year isn’t over yet. And many analysts agree that layoffs will still be heard until the end of the year. Among the few companies to hold out so far is Apple. But who nevertheless announced a slowdown in new hires. As well as Microsoft and Amazon.
The tragedy of the dismissal. But in a still lively job market
Behind every layoff is drama. Personal. Working. Witness the phrases shared in recent months on social networks by those who lost their jobs in San Francisco, Dublin, Austin or Berlin. On LinkedIn each one tells a story: there is the employee of Meta who recalls through his own experiences those that his father experienced decades earlier, thinking of himself as a child and of his children today; there are those from Twitter who narrowly escaped the layoff plan decided by Elon Musk, with half of their employees left at home, and relief and concern pass through his messages.
But there is a phenomenon already taking place. The correspondents in the Bay Area of the Financial Times tell it: the largest redistribution of talent in the history of the technology industry is underway. Perhaps of the industry in general. Because the crisis of the technological giants does not seem to scratch the digital transformation by a millimetre. Which affects all sectors. From banks to shops, from payments to work organization there are tens of thousands of open positions immediately attractive for those who have had to pack boxes from Big Tech headquarters.
Work
Meta also fires in Italy. 22 employees risk their jobs
by Arcangelo Rociola
The head of JPMorgan, Jamie Dimon, clarifies well what is at stake, who confirmed that he has no intention of reducing the budget for the expenses foreseen for the digitization of the company. $14 billion in 2022, out of 28 expected. Despite the ghosts of the recession.
In the US, 194,000 jobs were created in the technological sector in 2022
In fact, net of layoffs, the number of people employed in the technology sector increased by 194,000 in 2022 in the US alone. CompTIA’s U.S. employment data tell the story. Job postings for tech workers totaled nearly 317,000 in October, up more than 10,000 from September.
Not just big companies and banking giants. For several weeks, the startups of the San Francisco Bay area have been trying to grab the talents that have left the giants of the sector. Already trained professionals. Who know the tech industry well. A number of skills that were inaccessible to them a few months ago, but which are now suddenly available on the job market.
The case
Gorillas closes in Italy. 540 employees fired
by Arcangelo Rociola
Startups and Chinese tech giants at the window
The startups, despite the difficulties of the moment, continued to raise funding in 2022. The years of the mega investment rounds are long gone, but the liquidity available is all aimed at creating the product. With next to nothing on the market yet, they have been less impacted by inflation and supply chain bottlenecks. They can offer a job in a company under construction (just like Facebook, Twitter and Lyft were a few years ago). It is a throwback to the golden age for people who have worked in large companies for the last ten years.
But there is one more element. Several reports say that even the big Chinese technology companies would be ready to take advantage of the moment. On LinkedIn there are already offers for TikTok and the Bytedance holding that owns it. While in Silicon Valley, sector sites report, as early as last March several Chinese companies would have approached and then hired Big Tech licences. Which until last year at least had made their ability to hire the best their distinctive trait. And a source of pride in the world. And today they have to cede primacy to their direct competitors. A redistribution of talent, it has been said, the long-term effects of which are currently difficult to imagine.
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