Layoffs latest: Firms making cuts

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Mass layoffs have continued to take their toll across industries in 2023, with the number of job cuts this year in the hundreds of thousands.

Among the most recent job losses:

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• LinkedIn has announced it will eliminate approximately 668 employee roles across the company. Roles will be impacted in the engineering, product, talent and finance arms and are equal to roughly 3% of the company’s global workforce.
• Amazon has cut “several hundred” employees on the team that develops its voice assistant Alexa in order to cut costs, CNBC says.
• Digital media company Recurrent Ventures has laid off staff across a number of its editorial brands, Business Insider reports. The cuts include half of Popular Science magazine’s employees, or roughly 13 peopl.
• Citigroup is laying off more than 300 senior manager roles, or about 10% of the employees at that level, as part of CEO Jane Fraser’s restructuring plans, Bloomberg reports.
• Wells Fargo is letting go of up to 50 investment bankers amid a deal drought, Bloomberg writes.
• Stellantis, a Big Three Detroit automaker, will soon offer buyouts to half of its U.S. corporate employees (about 6,400 people) in order to cut expenses, The Wall Street Journal reports.
• Amazon has cut 180 positions in its gaming division in order to refocus on Prime Gaming, according to Aftermath.
• Meat delivery subscription company ButcherBox has laid of 15 employees in order to “refocus on operational efficiency,” its CEO and founder Mike Salguero wrote on LinkedIn.
• Feminist news site Jezebel has shut down, laying off 23 employees, after its parent company decided its business models didn’t align, The Guardian writes.
• Walgreens is laying off 5% of its corporate workers in Chicago, or roughly 267 people, Yahoo! Finance says.
• CNBC let go 10% of its digital team as the news giant looks to cut back on digital content, The Messenger reports.
• Amazon Music is laying off an undisclosed number of staff to reduce expenses, Bloomberg reports. The cuts will affect people in the editorial and audio content teams.
• Neighborhood platform Nextdoor is letting go of 25% of its employees, or roughly 176 people, The San Francisco Standard reports.
• Streaming service Starz is laying off 10% of its 670 employees ahead of its IPO, CNBC reports.
• Faire, a wholesale marketplace valued at $12.6 billion last year, is letting go of 250 people, or 20% of its headcount due to a restructuring, TechCrunch writes.
• Copenhagen-based shipping company Maersk plans to cut at least 10,000 jobs to “shield its profitability,” Bloomberg reports, a worrying sign for global trade.
• Video game developer Cryptic Studios is laying off an unspecified number of employees, GamesIndustry reports.
• Delta Airlines is trimming and undisclosed number of its corporate workers to cut costs, CNBC writes.
• Panera will lay off 17% of its 18,000 corporate employees, The Wall Street Journal writes, as it seeks efficiency ahead of a potential IPO.
• Vogue publisher Condé Nast plans to cut 270 employees, or 5% of its workforce, due to “digital advertising pressures,” The New York Times reports.
• Splunk, a software company based in San Francisco, is cutting 7% of its workforce ahead of its acquisition by Cisco, according to Bloomberg.
• Game developer Bungie has cut an unspecified number of employees after delaying some game releases, Bloomberg writes.
• Healthcare talent company Medical Solutions has laid off about 10% of its employees due to falling demand, KETV reports.
• Shell is eliminating 200 roles in its low-carbon solutions unit next year, CNBC reports. The oil giant employs over 90,000 people.
• Online retailer Zulily is cutting an unspecified number of jobs in its latest round of layoffs, GeekWire writes.
• Target-owned delivery service Shipt is laying off 3.5% of its workforce, ABC reports.
• Staffing software company Bullhorn announced a 9% reduction in force, citing a downturn in the staffing industry. Bullhorn currently has around 1,600 employees.
• Biotech company Beam Therapeutics is letting 100 employees, or 20% of the company, go as part of a new project hierarchy, Fierce Biotech reports.
• GEICO is laying off 2,000 employees, or 6% of its staff, in order to become “more dynamic,” Insurance Business writes.
• Trucking company Convoy has laid off the majority of its roughly 550 employees after revenue “collapsed” this year, according to The Information.
• Google has laid off 40-45 of its Google News employees, CNBC reports.
• Finnish telecom company Nokia is letting up to 14,000 people go as it seeks to cut costs, CNN writes. The company currently has 86,000 workers around the world.
• Paramount Global has decided to shut down Showtime’s sports division by the end of the year, leading to an unspecified number of layoffs, The Washington Post reports.
• Rolls-Royce is cutting 2,500 jobs around the world to “tackle years of underperformance,” CNN reports. The cuts will impact about 6% of the engine-maker’s headcount.
• Stack Overflow has laid off 28% of its staff, or more than 100 people. The cuts come a year after the coding forum doubled its headcount, The Verge reports.
• About 50% of indie music platform Bandcamp’s employees have been let go after the company was acquired by Songtradr, Variety says.
• Chipmaker Qualcomm is laying off 1,258 employees beginning on Dec. 13, CNN reports. The cuts represent roughly 2.5% of its 51,000-person workforce.
• Flexport, a supply chain software startup, will cut 20% of its 3,500-employee staff, CNBC writes.
• PNC Bank is laying off some workers by the end of the year, but did not disclose how many people would be affected, CBS news writes.
• The Washington Post is hoping to reduce its workforce by 240 employees through buyouts after struggling to grow subscriptions, according to The New York Times.
• Qualtrics is cutting 14% of its workforce, or 780 workers, in order to address “internal complexity” created by recent growth, according to GeekWire.
• Sendoso, a gifting startup boasting investors like SoftBank, is beginning its fourth round of layoffs in 16 months. It’s unclear how many employees are affected, Insider reports.
• Meta is preparing to lay off an undisclosed number of employees in its metaverse silicon production unit as soon as Sept. 4, Reuters reports citing anonymous sources.
• Weeks after the United Auto Workers went on strike, Ford Motor and General Motors announced they would eliminate around 500 workers in total. Ford laid off 330 employees, and GM cut 130 people, The Wall Street Journal reports.
• Chainanalysis said it is cutting 150 employees, or around 15% of its staff, as the crypto company attempts to concentrate on “more stable” government contracting, Forbes writes.
• Ally Financial is reducing its workforce by around 500 employees, or less than 5% of its total headcount, Bloomberg reports.
• Author Malcolm Gladwell’s company Pushkin Industries is cutting 30% of its staff, or 17 employees in order to set up the company for profitability next year, Bloomberg reports.
• Fortnite maker Epic Games is laying off 870 people, or 16% of its employees, after CEO Tim Sweeney said the company was spending more than it earns.
• The Federal Reserve is reducing its headcount by 300 people through a combination of layoffs, retirements and attrition.
• Software company Airtable announced 237 job cuts in mid-September, or about 27% of its headcount, Forbes reports.
• Game developer Ascendant Studios has laid off 45% of its team, or roughly 40 people.
• 2seventy bio is laying of 40% of its workforce as its CEO steps down. The cuts will affect roughly 176 roles, Reuters reports.
• Roku is cutting its workforce by 10% as part of a restructuring that aims to cut costs. The streaming company has around 3,600 employees, according to FactSet.
• Code for America laid off 35 staff members in September amid “major changes” to strategy.
• Car insurance company Clearcover is cutting its workforce by 28% in its second round of layoffs this year.
• Barstool Sports laid off 100 employees in a bid for future profitability, Yahoo reports.
• Cloud startup SkyKick laid off 140 employees, or just under half of its workforce.
• Apellis Pharmaceutical is laying off a quarter of its employees, or 225 people, as part of “major restructuring.”
• California insurance company Farmers Insurance announced it would lay off 2,400 employees, or 11% of its workforce, in an attempt to secure long-term profitability, The Associated Press reports.
• Furniture brand Mitchell Gold + Bob Williams abruptly shut down in August, affecting hundreds of warehouse and retail employees.
• T-Mobile announced it would lay off 5,000 employees, or 7% of its headcount.
• Juul Labs said it would cut 30% of its workforce in order to cut costs.
• Crypto media company CoinDesk is expected to lay off 40% of its editorial team, or 18 people.
• Cybersecurity firm Rapid7 announced it would cut 18% of its workforce, or roughly 470 employees, as part of a restructuring plan.
• Klaussner Home Furnishings shut its doors abruptly, affecting up to 1,800 workers.
• Trucking giant Yellow filed for bankruptcy in August, affecting over 30,000 employees.
• CVS Health said it would cut about 5,000 jobs in order to cut costs, The Wall Street Journal reports.

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