Apple, Amazon, Intel and others: Tech giants undergoing layoffs and hiring freezes

Following $Tesla(TSLA.US)$ Elon Musk’s acquisition, $Twitter (Delisted)(TWTR.US)$ fired nearly half of its workforce as part of cost-cutting measures. Interestingly, the company later had to ask some of the fired employees to return after it realised that they were either fired in error or were too essential to certain operations.
But the Twitter layoffs are part of a larger trend in the technology industry. The Wall Street Journal reported that Meta, $Twitter (Delisted)(TWTR.US)$ ’s parent company, plans to begin large-scale layoffs that will affect thousands of its employees. As the world economy heads into recession with unchecked inflation and central banks across the world raising interest rates, more technology companies are likely to follow suit.

Here, we have put together some of the biggest layoffs and hiring freezes in the tech industry.
$Twitter (Delisted)(TWTR.US)$
Musk’s takeover began with the firing of Twitter CEO Parag Agrawal, CFO Ned Segal and legal affairs and policy chief Vijaya Gadde immediately after the completion of the acquisition. Later, Twitter fired nearly half of its 7,500-strong staff on November 4.
$Meta Platforms(META.US)$
Facebook-parent Meta plans to begin laying off workers en masse in a move that will affect thousands of employees, according to a WSJ report citing people familiar with the matter.
$Snap Inc(SNAP.US)$
Snap, the company that develops and runs Snapchat, cut off around 20 per cent of its 6,400-strong workforce in August this year. The layoffs were announced as Snap’s stock price has fallen over 80 per cent in the last year.
$Microsoft(MSFT.US)$
Microsoft has laid off nearly 1,000 employees according to an Axios report citing an unidentified source. The company cut jobs across many levels, teams and parts of the world.
$Intel(INTC.US)$
Intel is planning to let go of thousands of employees to cut costs, according to a Bloomberg report citing people with knowledge of the situation. The layoff will reportedly hit the company’s sales and marketing group particularly hard with cuts affecting up to 20 per cent of the staff.
$Amazon(AMZN.US)$
While Amazon has not announced any firings just yet, it has frozen corporate hiring in its retail business for the rest of the year.
$Apple(AAPL.US)$
Apple is pausing hiring for many jobs outside of research and development, according to a Bloomberg report.
You can track all tech startup layoffs since COVID-19 by clicking on this. Data is compiled from public reports.