Primary Country (Mandatory)

United States

Other Country (Optional)

Set News Language for United States

Primary Language (Mandatory)
English
Other Language[s] (Optional)
No other language available

Set News Language for World

Primary Language (Mandatory)
English
Other Language(s) (Optional)

Set News Source for United States

Primary Source (Mandatory)
CNN
Other Source[s] (Optional)

Set News Source for World

Primary Source (Mandatory)
AajTak
Other Source(s) (Optional)
  • Countries
    • India
    • United States
    • Qatar
    • Germany
    • China
    • Canada
    • World
  • Categories
    • National
    • International
    • Business
    • Entertainment
    • Sports
    • Special
    • All Categories
  • Available Languages for United States
    • English
  • All Languages
    • English
    • Hindi
    • Arabic
    • German
    • Chinese
    • French
  • Sources
    • India
      • AajTak
      • NDTV India
      • The Hindu
      • India Today
      • Zee News
      • NDTV
      • BBC
      • The Wire
      • News18
      • News 24
      • The Quint
      • ABP News
      • Zee News
      • News 24
    • United States
      • CNN
      • Fox News
      • Al Jazeera
      • CBSN
      • NY Post
      • Voice of America
      • The New York Times
      • HuffPost
      • ABC News
      • Newsy
    • Qatar
      • Al Jazeera
      • Al Arab
      • The Peninsula
      • Gulf Times
      • Al Sharq
      • Qatar Tribune
      • Al Raya
      • Lusail
    • Germany
      • DW
      • ZDF
      • ProSieben
      • RTL
      • n-tv
      • Die Welt
      • Süddeutsche Zeitung
      • Frankfurter Rundschau
    • China
      • China Daily
      • BBC
      • The New York Times
      • Voice of America
      • Beijing Daily
      • The Epoch Times
      • Ta Kung Pao
      • Xinmin Evening News
    • Canada
      • CBC
      • Radio-Canada
      • CTV
      • TVA Nouvelles
      • Le Journal de Montréal
      • Global News
      • BNN Bloomberg
      • Métro
Phoenix Bracelet Buy Now
Women's Striped Summer Vest Top Buy Now
THE GYM PEOPLE Joggers Buy Now
BOOMCOOL Men's Gym Outfit Set Buy Now
COOFANDY Mens Short Sleeve Shirts Buy Now
Anne Klein AK/3702 Watch Buy Now
JMIERR Mens Cotton Linen Shirt Buy Now
JW PEI Jana Shoulder Bag Buy Now
Oxford Shirt Buy Now
Essentials Men's Regular-Fit Shirt Buy Now
Rdruko Men's Track Suits Buy Now
Golden Hour Men's Stainless Steel Chronograph Watch Buy Now
Wacky Waving Inflatable Tube Guy Buy Now
Instant Hijab Scarf For Women Buy Now
Womens Ribcage Straight Ankle Jeans Buy Now
FTL Men's Eversoft Cotton Stay Tucked Crew Buy Now
Wide Leg Yoga Pants with Pockets Buy Now
Men's Cotton Cardigan Buy Now
4K Dual Screen Camera with 18X Zoom Buy Now
Fitpolo Smart Watch for Women Buy Now
MoreBack to News Headlines
Tech layoffs mount — but skilled workers are still hard to find

Tech layoffs mount — but skilled workers are still hard to find

CBC
Saturday, January 21, 2023 1:27 PM GMT

Some of the biggest tech companies in the world announced a wave of layoffs this week, eliminating tens of thousands of jobs as they reverse course after years of expanding.

Google's parent company said on Friday it would cut 12,000 jobs. Microsoft and Amazon eliminated a combined 28,000 jobs on Wednesday. All told, tech companies have shed more than 200,000 jobs since the summer.

But "this was largely expected," said Alex Zukin, the managing director at Wolfe Research.

"I think that many companies are right-sizing their staff." 

He says most of the big-name tech companies expanded dramatically through the pandemic. They made big bets that the way people and businesses behaved during the COVID restrictions in 2020 was a permanent shift to a more online way of living.

Microsoft CEO Satya Nadella said in an email to employees that customers were, in fact, also adjusting to a slowing economy and trying to "optimize their digital spend to do more with less."

Zukin says Microsoft is a perfect example of a company that expanded too much too quickly.

Nadella took the company "from 60,000 employees to 220,000. So, they are cutting back on 10,000, which is not too surprising," said Zukin. 

Earlier this year, Canadian tech giant Shopify went through a similar reckoning. During the pandemic, CEO Tobi Lütke made a big bet that e-commerce would "leap ahead by five or even 10 years." 

Shopify doubled its headcount from early 2020 only to be forced to lay off 10 per cent of its staff this summer. 

"Ultimately, placing this bet was my call to make and I got this wrong," he told staff in a memo. "As a consequence, we have to say goodbye to some of you today and I'm deeply sorry for that.... For a company like ours, this news will be difficult to digest."

Since then, the biggest names in tech have followed suit.

But economists tracking employment levels have found those laid-off workers seem to have had little trouble finding new jobs.

"Through December, it looks like a lot of tech workers that were laid off early in the cycle have found new jobs relatively quickly," said Aaron Terrazas, chief economist with the job search site GlassDoor.

Read full story on CBC
Share this story on:-
Run 3 Space | Play Space Running GamePlay Run 3, the ultimate space tunnel running game with 300+ challenging levels!Adv.
Traffic Jam 3D | Online Racing GameTraffic Jam 3D is a game where you’ll be driving through heavy traffic.Adv.
Duck Hunt | Play Old Classic GamePlay the classic 1984 light gun shooter game Duck Hunt on your browser.Adv.
More Related News
Parking Slot | Free Parking GamePlay Parking Slot, the best online 3D car driving and parking game.Adv.
Slope Ball Run - Play OnlineSlope Game takes you on an exciting journey of a ball on special paths.Adv.
Non-profit run by 23andMe co-founder gets court approval to buy the genetic testing company

Anne Wojcicki's bid to buy 23andMe, the genetic testing company she co-founded nearly 20 years ago, has received the court green light.

Lululemon sues Costco over sale of alleged knock-offs

Lululemon is accusing Costco of infringing on its intellectual property by selling knock-offs of some of its most popular products.

© 2008 - 2025 Webjosh  |  News Archive  |  Privacy Policy  |  Contact Us