The Companies Conducting Layoffs in 2023: Here’s the List
After a rash of layoff announcements at the beginning of the year, some companies are cutting jobs as 2023 winds down and a strong labor market shows signs of cooling. Tech-industry layoffs, which dominated at the start of 2023, included Facebook parent Meta Platforms, Google parent Alphabet and Microsoft. Then downsizing went beyond high-growth technology companies, with retailers, manufacturers and the financial sector announcing cuts.
While the unemployment rate remained below 4% as of October, hiring has slowed from earlier this year. Higher interest rates have weighed on economic demand. Businesses are hiring fewer extra workers for the holidays, a possible warning of a weakening labor market.
Here’s a look at companies that cut jobs in 2023. December Spotify The audio streaming company said it would cut 1,500 jobs, or 17% of its workforce, in its third round of layoffs this year. It laid off about 200 employees in June and 600 employees in January.
Twilio The communications and customer data company said it was eliminating about 5% of its 5,900 employees. In February, the company laid off about 17% of its workforce. November A.P.
Moller-Maersk The shipping and logistics giant said it would slash more than 10,000 jobs. ByteDance TikTok’s parent company was laying off hundreds of people at its videogame unit and planned to end games under development. Citigroup The bank began a round of layoffs, part of an effort to streamline Citigroup.
The bank hasn’t set a target for total layoffs. Employees have speculated 10% of positions, likely thousands of jobs, could be cut. Continental The German auto-parts maker said it anticipated cutting thousands of jobs.
VF Corp. The U.S. sportswear and footwear company behind Vans,
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