Big Tech and media companies in the U.S. have started 2024 with fresh plans to cut jobs, indicating a continuation of the spate of layoffs seen last year. Microsoft is cutting jobs after its acquisition of Activision Blizzard in 2023. Flexport, a U.S. logistics startup, is planning to lay off about 20% of its workforce. The gaming industry is also affected, with layoffs continuing to tear through video game studios. The media industry has been hit hard, with major companies making significant cuts, including Condé Nast, L.A. Times, and others. The Communication Workers of America stated that none of its workers at Microsoft were affected by the cuts.
Layoffs Announced Over Last 3 Months: 1. Twitch: 35% of workforce 2. Hasbro: 20% of workforce 3. Spotify: 17% of workforce 4. Levi's: 15% of workforce 5. Zerox: 15% of workforce 6. Qualtrics: 14% of workforce 7. Wayfair: 13% of workforce 8. Duolingo: 10% of workforce 9.…
While actual figures are difficult to get ahold of, estimates suggest the number of workers laid off in games last year approached or exceeded 10,000, and 2024 isn't looking much better. https://t.co/bi1dK2530r https://t.co/nH1uJmAUw0
Tech layoffs this week: Microsoft laying off 1,900 gaming staff, eBay cuts 1,000 jobs, and Flipkart, Swiggy plan job cuts, and more https://t.co/GtnFP0bmbp
Tech Stocks Hit New Records as Tech Layoffs Rise Amid AI Hiring Sprees https://t.co/L4fsQ7JDrz
The News Business Really Is Cratering - POLITICO https://t.co/YPoXJJn5tF
“The L.A. Times and the Washington Post are struggling to adapt to an industry that, like streaming, has largely become an economy of scale.” @DylanByers digs into the latest wave of media layoffs. https://t.co/PVNkz2R0dk
In tech, 2024 started the way 2023 did — with a wave of layoffs — even though the U.S. economy is booming and the industry is thriving. https://t.co/bTbA8mUqmc
It's easy for numbers to feel abstract, so this is what the game industry looks like only one month into 2024. Every single person represented here has lost their job. This is devastating. https://t.co/9eNgtgUnUk
Three more studios have laid off employees and we're not even out of January yet. https://t.co/DW0QV7UOd8
Journalists being laid off en masse is a sign of tightening financial conditions. Honest journalism with little personal commentary went extinct thanks to near 0% rates for 15 years post-2008. These adult theater kids not just being laid off, but laid off in mass firings, is a… https://t.co/8L1MIJbKfQ
This is discrediting, weakening, and debasing for the source of news. We are witnessing the penultimate phase of the slow suicide of the mainstream media. I've always held that companies don't die on their own. They die from self-inflicted injury. https://t.co/uQPzI9icdP
Layoffs in 2024: List of companies that have announced job cuts so far this year According to data from https://t.co/KEsbpkTzVo, so far in January, 91 tech companies have fired 24,564 employees. https://t.co/VmRO5lYAvd
From Microsoft to Levi’s, Here’s Where the Layoffs Are in Tech and Retail https://t.co/B4bs0EzCZ0
Swiggy and Flipkart are laying off employees, adding to the woes of the startup sector which has been grappling with a funding winter. https://t.co/Kg1Se7crWn
Journalist Layoffs Continue as the Liberal Media Collapses Right Before Our Eyes via @gatewaypundit https://t.co/xImreeopNd
Nearly a dozen mainstream media companies are gutting staff and scrambling to rescue their struggling businesses. https://t.co/MlcvrEYrbz
NEW: after yesterday's confusion, we have a clearer picture of who was hit by the microsoft/activision blizzard layoffs, and it's not pretty https://t.co/bOdAq7kvO8 https://t.co/prOW6kGrUy
The cuts are another blow to the gaming and tech industries, which have already suffered job losses this year. This week, Riot Games announced over 500 layoffs following hundreds of firings at Twitch, Unity and Discord earlier in the month. https://t.co/7ckIiL62DD
2024 has already proven to be a difficult year for layoffs. Here's some tech and retail companies that have laid off employees of late. https://t.co/QRPsh8qONK
From Microsoft to REI, here's a look at tech and retail companies that have recently made layoffs https://t.co/erthyUUNlV https://t.co/o9RalNxnqy
Update: CWA communications director Beth Allen has reiterated that CWA-represented members at Microsoft were not impacted by the layoffs "Currently, CWA officially represents QA testers at ZeniMax, Raven, and Blizzard Albany." https://t.co/7TE1Sws65n
After Microsoft laid off more people this week, @rachelkaser tallies up January's growing list of lost jobs https://t.co/Bt7z38g3TJ
⬇️⬇️⬇️ 5 Reasons for This Brutal Wave of Media Layoffs Clashes between owners and guilds and the bleak state of advertising made January 2024 a bloody month in media history. Read more: https://t.co/OWcU5evBMG
Layoffs swept much of the media industry this week in an ominous start for 2024, further thinning the ranks at once-mighty publications such as the Los Angeles Times, Time and Sports Illustrated https://t.co/rFlQhRow8b
The Communication Workers of America, which represents unionized Microsoft staff, said none of its workers are affected by the cuts. https://t.co/7ckIiL62DD
Flexport may lay off workers yet again: https://t.co/9lVgwgcULZ by TechCrunch #infosec #cybersecurity #technology #news
The fabled publishing giant Condé Nast is suffering shrinking pains amid an industry collapse. Journalists have moved on from ascribing blame for the failures of the news business to “the internet.” https://t.co/I0FCJdmp1u
Flexport may lay off workers yet again https://t.co/dO86jU9O2v
More than 20,000 people working in tech lost their job in January, continuing the 2023 trend when 250,000+ were ditched https://t.co/d5usJaleVO
EBay is the latest company to announce layoffs this January, following Wayfair, Amazon, Macy's, Google and others. https://t.co/YBdlyfboKr #ecommerce #onlinemarketplace #personnel
Update: A former Blizzard Entertainment VFX artist has informed Game Developer they were laid off by Microsoft despite being a CWA member, perhaps indicating that some unionized devs were impacted by the cuts. https://t.co/ReOEaOEzqc
Tech layoffs are expected to continue as companies seek to hire more AI talent, analyst says https://t.co/RRe0vVsQQC
This week's announcements come after a slew of major companies made similar cuts earlier this month, including Riot Games, Google, Discord and Twitch. Read Seattle-area layoffs: Microsoft, REI start 2024 with workforce reductions https://t.co/n91GJzQCMP
US logistics startup Flexport to lay off 20% of its workforce - The Information https://t.co/jg5ImGLy1f https://t.co/FtK0NKkJ2s
Riot cuts key LEC staff in layoffs, scuttles esports streaming platform https://t.co/9IzSPoNBCd via @GamesBeat
The Mainstream Media Nightmare: Hundreds Of Staff Fired From Corporate Media https://t.co/lMRVtohVdK
Microsoft and Activision Blizzard layoffs didn't impact a single CWA union member https://t.co/C84GVdJfho https://t.co/jIdTTfPEau
Another bunch of game studios have laid off employees, and we're not even out of January yet . https://t.co/SxboL2jnuf
⚠️ US LOGISTICS STARTUP FLEXPORT TO LAY OFF 20% OF ITS WORKFORCE - THE INFORMATION (Reuters) U.S. logistics startup Flexport is planning to lay off about 20% of its workforce in the coming weeks, The Information reported on Friday citing people familiar with the matter.....…
Between Condé Nast's strike and L.A. Times layoffs, it feels like the media industry has been put through a trash compactor — and journalists are realizing the future is being shaped by executives who have no clear idea how to create a sustainable business https://t.co/RQAFdRpnNL
Big Tech, media firms start off 2024 with fresh U.S. job cuts https://t.co/VZKeAI2QW2 https://t.co/5oFsJQBhWS
Scoop: Flexport is planning to cut nearly 20% of its staff in the coming weeks, its third major round of layoffs in just over a year. Flexport is planning the cuts even after it raised $260 million from Shopify earlier this month. https://t.co/JYyghrLiHo @theinformation
Things have moved fast in 2024 so far, and this month's Fintech Newsletter looks at some things that may yield bigger developments down the line. 👇
The business cycle is just that. 🔁 It has its ups and downs, and 2024 could be heading up for tech startups. As tech companies prepare for a growth rebound year, VC totals potentially swing up, + the IPO market defrosts, here's what to expect: https://t.co/C3hf9S4e5b
Layoffs continue to tear through the videogame industry after an already difficult year in 2023. https://t.co/Lq7ARo9ZpB
The cuts come after Microsoft identified "areas of overlap" following its acquisition of Activision Blizzard in 2023, Microsoft's gaming CEO said in a memo to employees. https://t.co/RzcQxOfTb8
⚠️ FACTBOX-BIG TECH, MEDIA FIRMS START OFF 2024 WITH FRESH U.S. JOB CUTS (Reuters) Big Tech and media companies in the U.S. have kicked off 2024 with fresh plans to cut jobs, signaling the spate of layoffs seen last year will likely continue as firms navigate persistent… https://t.co/IHEgrFKl7G