Home Economy Mass layoffs continue at tech giants

Mass layoffs continue at tech giants

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Mass layoffs continue at tech giants

And while mass layoffs to high-tech giants such as Metaplatforms, Google, Microsoft, Alphabet, Dell and in others on Silicon Valley, it is now becoming apparent that they are trying to lighten the staff after years of hectic recruitment, on the other hand, the goal is clear, their middle managers. Earlier this week, computer maker Dell also announced massive layoffs of nearly 6,650 jobs, or 5% of its global workforce, to deal with a weakening PC market, a post-pandemic drop in demand and a possible recession. Prior to the announcement, the company had already taken steps to cut its costs, such as suspending hiring and travel restrictions, but these were not enough, according to Reuters. And here’s what Group Co-CEO Jeff Clark wrote in a personal message to employees, pointing out that “market conditions continue to deteriorate and the future is uncertain.” For his part, Meta founder (and Facebook successor) Mark Zuckerberg announced that he would remove some layers of management by presenting his company’s profit forecast for 2023 – in fact, he called this year “the year of efficiency.” The company laid off more than 11,000 workers last year, or 13% of its workforce, in the first major such move. This is “just the beginning,” said Susan Lee, the company’s chief financial officer.

Google has more than 30,000 female managers, according to the company’s HR director.

Meanwhile, recent layoffs at Alphabet/Google revealed a startling fact: Google employs more than 30,000 female managers, according to the company’s HR director Fiona Cicconi. A few days ago, Google laid off 12,000 jobs, or 6% of its workforce. And at Intel, top executives’ salaries will be cut along with top executives’ salaries in an attempt to raise money. The company is facing increased competition and falling demand for personal computers. While HR experts agree that taking executive pay cuts during turbulent times is the right move, from the point of view of shareholders and employees, the effects are unevenly distributed up the hierarchy. It is worth noting that layoff decisions are being made as middle managers everywhere face increasing pressure from management to do more with less, as well as from subordinates to push back-to-the-office policies and new hybrid work models. he says, notes Bloomberg.

Interestingly, though, the tech giants have laid off over 150,000 people so far in the past few months, yet Microsoft is investing $10 billion in artificial intelligence. According to a Forbes article citing related research, many of those fired have an average of at least ten years of work experience (so they are not new employees who are easy to replace), and 28% of the total number of layoffs are in the human resources department. Possible reasons are, firstly, that along with the reduction of staff, hiring is also reduced, so personnel officers are not needed, and secondly, part of their own duties is automated.

Author: newsroom

Source: Kathimerini

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