By: Economic & Finance Report
Recent company layoffs in the tech and retail industries, has 2024 getting off on a horrible start. Ebay Ebay was one of the first global marketplaces to fire over 1,000 employees. Microsoft’s Activision gaming unit laid of over 2,000 employees. REI laid off over 357 employees, from their work force. The company reported 4 consecutive quarters of declining revenue. REI indicated that 2024 will see more of declining sales and revenue.
Levi’s Strauss & Co is laying off approximately 10% of their workforce. They are in a two process of restructuring. The company however were able to obtain a 10-year extension for the naming rights, of the 2024 NFL finalists San Francisco 49er’s football stadium.
Online Home Decor company Wayfair has laid off over 1,600 employees. They are also in restructuring mode, which will reduce their global teams and workforce. Media giant Twitch (which is owned by Amazon), cutting over 500 jobs from its platform. Audible another company big audio company owned by Amazon, is cutting 5% of its workforce as well. Amazon Prime video will be reducing its staff and ending hundreds of jobs from its video units.
International search engine goliath Google is reducing hundreds of jobs from its hardware division and laying of many engineers who were working on Google’s voice recognition divisions also. Retail company Macy’s is laying off over 2,300 employees as retailers are purchasing more via online then shopping at their brick-and-mortar operations. Declining retail store sales were attributed to Macy’s layoffs. -SB
Image Credit: People Matters
Tech and retail companies layoffs: Microsoft, TikTok, Google, Macy’s and more – Hindustan Times
eBay Fires 9% Percent Of Their Employees!!!!!!!!! – ECONOMIC AND FINANCE REPORT