Layoffs pile up in US, Canada as companies uncertain of economy
job cuts in 2024 after letting go thousands last year, as the outlook on interest rate cuts by the Federal Reserve remains uncertain even as recession fears recede rapidly.
Here is a snapshot of job cuts announced so far this year:
TECHNOLOGY
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-112406463»>* Amazon's job cuts include less than 5% of employees at Buy with Prime unit, 5% at audiobook and podcast division Audible, several hundred in streaming and studio operations, 35% at streaming unit Twitch, a few hundred at healthcare units One Medical and Amazon Pharmacy. It also announced layoffs at Amazon Web Services (AWS) impacting several hundred roles in sales, marketing, and global services and a few hundred roles in the physical stores technology team.
* Layoffs at Alphabet include dozens at the division for developing new technology X Lab, hundreds in the advertising sales team, hundreds across teams, including the hardware team responsible for Pixel, Nest and Fitbit, and a majority in the augmented reality team.
* Microsoft is cutting around 1,900 jobs at gaming divisions Activision Blizzard and Xbox.
* IBM plans to lay off some employees in 2024 but will hire more for AI-centered roles.
* Intel said it would cut more than 15% of its workforce, some 17,500 people, as the chipmaker pursues a turnaround focused on its money-losing manufacturing business.
* E-commerce firm eBay plans to cut about 1,000 roles or around 9% of its workforce.
* Videogame software provider Unity Software to cut about 25% of workforce, or 1,800 jobs.
* DocuSign plans to reduce its
