Amazon and Meta both unveiled new rounds of cuts in March. Nearly half of those cuts came in the months of November and December, led by massive reductions at Amazon, which cut 10,000 employees, and Facebook and Instagram parent company Meta, which cut 11,000 employees. About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy & Safety How YouTube works Test new features NFL Sunday Ticket Press Copyright. Employers feared high inflation and multiple rounds of interest rate hikes by the Federal Reserve could throw the economy into recession. But opting out of some of these cookies may affect your browsing experience. You also have the option to opt-out of these cookies.

These cookies will be stored in your browser only with your consent. companies between June and December, according to Forbes’ tracker. We also use third-party cookies that help us analyze and understand how you use this website. employees affected by cuts at more than 120 large U.S. companies ranging from tech startups to manufacturers, retailers and banks conducted a series of major layoffs last summer-with nearly 125,000 U.S. labor market still managed to add 236,000 jobs in the month of March while the unemployment rate dropped to 3.5% from 3.6% in February, according to Labor Department data-though it was the smallest increase in total employment since December 2020, sparking fears among economists that a recession could be under way.

Contraĭespite massive layoffs continuing at many large companies over the first few months of 2023, the U.S. layoffs over the first three months of 2023-more than the previous two fiscal quarters combined, led by massive head count reductions at Amazon, Google, Meta and Microsoft, according to Forbes’ tracker. That’s how many employees were cut in major U.S. April 3 Hyland Software, the developer behind process management software OnBase, announced plans to cut 1,000 employees-roughly a fifth of its workforce-and reassess job responsibilities, as CEO Bill Priemer said the Ohio tech company “did not anticipate the degree to which inflation, rising interest rates and wage increases would impact our expenses.” Big Numberġ36,000.

Say you wont let go az