2022 was a difficult year for many industries, and the tech sector was no exception. The pandemic forced companies to shift operations, leaving many businesses with difficult decisions to make, and unfortunately, in some cases, layoffs were the only option. As we head into 2023, it's important to keep an eye on the job market, and in particular, be aware of companies who have already announced plans to lay off employees.
With that in mind, let's take a look at some of the companies that have announced layoffs for 2023. It's worth noting that this list is by no means comprehensive as many companies plan to layoff employees unexpectedly. This list is based on announcements that have been made so far, and it's likely that more announcements will come soon.
In late 2022, Uber announced that it would be laying off roughly 3,700 employees, or roughly nine percent of its workforce. This decision is expected to save the company $1 billion in 2023. Uber has struggled financially in recent years, but this decision is part of the company's restructuring plan to become profitable.
WeWork also struggled financially in 2022, leading to a decision to lay off roughly 2,000 employees in 2023. The decision was made in an effort to cut costs after WeWork's IPO plans collapsed in 2022.
In 2023, Intel plans to lay off about 7% of its workforce, which equates to roughly 12,000 employees. The announcement came after Intel failed to meet its earnings targets in 2022. The company has stated that the layoffs will come from its cellular modem division and its data center group.
HP plans to lay off roughly 10% of its workforce in 2023, which is roughly 7,000 employees. The layoffs are part of the company's ongoing restructuring plan to streamline operations and reduce costs.
IBM announced in late 2022 that it plans to lay off roughly 10,000 employees in 2023. This decision comes as the company has struggled to keep pace with competitors in the cloud computing market.
Cisco plans to lay off roughly 5,500 employees in 2023 as part of its restructuring plan. The decision is expected to save the company $1 billion annually. The layoffs will come from the company's sales and engineering divisions.
Symantec plans to lay off roughly 7% of its workforce in late 2022 and early 2023, which equates to roughly 1,200 employees. The layoffs are part of a restructuring plan to refocus on the company's core businesses.
Verizon plans to lay off roughly 7% of its workforce in 2023, which equates to roughly 10,000 employees. The decision was made as the company looks to reduce costs and evolve its business model.
Microsoft announced in late 2022 that it plans to lay off roughly 5,000 employees in 2023, mostly in its sales and marketing divisions. The decision was made as Microsoft looks to focus on its core businesses and reduce costs.
While layoffs are never a pleasant experience, they are unfortunately a reality of the business world. As we enter 2023, it's important to keep an eye on the job market and be aware of companies that have announced plans to lay off employees. If you are affected by layoffs, know that there are resources available to help you find new employment opportunities. Remember to stay positive and use this setback as an opportunity for growth and new beginnings.
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