Freezes and layoffs
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Amazon Is Pausing Hiring for Corporate Workforce
Beth Galetti, senior vice president of people experience and technology at Amazon, notified staffers of the pause in a letter Wednesday.
“We anticipate keeping this pause in place for the next few months, and will continue to monitor what we’re seeing in the economy and the business to adjust as we think makes sense,” Ms. Galetti said in the letter.
Amazon had last month halted hiring in its core retail division through the end of the year.
“We’re facing an unusual macro-economic environment, and want to balance our hiring and investments with being thoughtful about this economy,” Ms. Galetti said.
Lyft to Lay Off About 700 Employees
Lyft Inc said it is cutting 13% of staff, or nearly 700 jobs, the latest technology company to say it needed to reduce costs ahead of choppy economic conditions.
Co-founders John Zimmer and Logan Green announced the cuts to staff Thursday. “There are several challenges playing out across the economy. We’re facing a probable recession sometime in the next year and rideshare insurance costs are going up,” they wrote in the memo viewed by The Wall Street Journal.
“We worked hard to bring down costs this summer: we slowed, then froze hiring; cut spending; and paused less-critical initiatives. Still, Lyft has to become leaner, which requires us to part with incredible team members,” they added.
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Amazon Is Pausing Hiring for Corporate Workforce
Beth Galetti, senior vice president of people experience and technology at Amazon, notified staffers of the pause in a letter Wednesday.
“We anticipate keeping this pause in place for the next few months, and will continue to monitor what we’re seeing in the economy and the business to adjust as we think makes sense,” Ms. Galetti said in the letter.
Amazon had last month halted hiring in its core retail division through the end of the year.
“We’re facing an unusual macro-economic environment, and want to balance our hiring and investments with being thoughtful about this economy,” Ms. Galetti said.
Lyft to Lay Off About 700 Employees
Lyft Inc said it is cutting 13% of staff, or nearly 700 jobs, the latest technology company to say it needed to reduce costs ahead of choppy economic conditions.
Co-founders John Zimmer and Logan Green announced the cuts to staff Thursday. “There are several challenges playing out across the economy. We’re facing a probable recession sometime in the next year and rideshare insurance costs are going up,” they wrote in the memo viewed by The Wall Street Journal.
“We worked hard to bring down costs this summer: we slowed, then froze hiring; cut spending; and paused less-critical initiatives. Still, Lyft has to become leaner, which requires us to part with incredible team members,” they added.
@George-K said in Freezes and layoffs:
"Still, Lyft has to become leaner, which requires us to part with incredible team members"
Leaner? In our body acceptance phase of leftist pop culture, we shouldn't be characterizing laid off workers as useless fat.
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https://9to5mac.com/2022/11/03/apple-halts-hiring-cuts-costs/
According to people familiar with the matter, Apple made the decision to freeze hiring last month ahead of the company’s quarterly earnings report. Sources told Bloomberg that the pause doesn’t apply to teams working on future products and long-term initiatives.
The sectors most affected are hardware and software engineering, as well as some corporate functions. The company said in a statement that it will continue hiring, but at a slowing pace.
Given the current economic environment we’re taking a very deliberate approach in some parts of the business. The company added that it’s confident in Apple’s future. We want to be thoughtful and make smart decisions that enable us to continue fueling innovation for the long term.
Some of Apple’s teams can still hire under specific circumstances. For example, some job openings continue to be advertised on the company’s website. “The move is part of a broader effort to rein in budgets, not backfill roles and decelerate headcount growth for some teams next year,” says the report.
Apple has increased R&D spending by 20% in 2022 compared to the previous year as the company has been working on developing new products, including its rumored mixed reality headset. Other companies like Lyft and Stripe have also been cutting jobs amid the global economic crisis.
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Meta Platforms Inc. META 2.11%increase; green up pointing triangle is planning to begin large-scale layoffs this week, according to people familiar with the matter, in what could be the largest round in a recent spate of tech job cuts after the industry’s rapid growth during the pandemic.
The layoffs are expected to affect many thousands of employees and an announcement is planned to come as soon as Wednesday, according to the people. Meta reported more than 87,000 employees at the end of September. Company officials already told employees to cancel nonessential travel beginning this week, the people said.
The planned layoffs would be the first broad head-count reductions to occur in the company’s 18-year history. While smaller on a percentage basis than the cuts at Twitter Inc. this past week, which hit about half of that company’s staff, the number of Meta employees expected to lose their jobs could be the largest to date at a major technology corporation in a year that has seen a tech industry retrenchment.
A spokesman for Meta declined to comment, referring to Chief Executive Mark Zuckerberg’s recent statement that the company would “focus our investments on a small number of high priority growth areas.”
“So that means some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year,” he said on the company’s third-quarter earnings call on Oct. 26. “In aggregate, we expect to end 2023 as either roughly the same size, or even a slightly smaller organization than we are today.”
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Because Biden Administration = Twitter Employees???
Seems like a bad case of outgroup homogeneity bias.
@jon-nyc said in Freezes and layoffs:
Seems like a bad case of outgroup homogeneity bias.
Is there a way to say this with smaller words?
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@jon-nyc said in Freezes and layoffs:
Seems like a bad case of outgroup homogeneity bias.
Is there a way to say this with smaller words?
@Axtremus said in Freezes and layoffs:
@jon-nyc said in Freezes and layoffs:
Seems like a bad case of outgroup homogeneity bias.
Is there a way to say this with smaller words?
More than 50% of those words are 1 syllable.
8/9 are two syllables or less.
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@jon-nyc said in Freezes and layoffs:
Seems like a bad case of outgroup homogeneity bias.
Is there a way to say this with smaller words?
@Axtremus said in Freezes and layoffs:
@jon-nyc said in Freezes and layoffs:
Seems like a bad case of outgroup homogeneity bias.
Is there a way to say this with smaller words?
Trump supporters are all self hating culture soldiers who love Trump because he smites those they would like to smite.
Biggest word there is supporters.
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Chief Executive Bob Chapek announced Friday company-wide cost-cutting measures and told division leaders that layoffs are likely, according to an internal memo viewed by the Wall Street Journal.
The austerity measures, which include a ban on all but essential work travel and a freeze on new hires for all but a few critical positions, come days after Disney reported lackluster quarterly earnings and a $1.5 billion quarterly loss at its streaming business, significantly wider than Wall Street analysts had predicted.
In the memo, which was addressed to all executives at the senior vice president level or above, Mr. Chapek said a task force, led by Chief Financial Officer Christine McCarthy and general counsel Horacio Gutierrez, would review marketing, content and administrative spending across the entire company and recommend cuts.
“I’m fully aware this will be a difficult process for many of you and your teams,” Mr. Chapek said in the memo. “We are going to have to make tough and uncomfortable decisions.”
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Chief Executive Bob Chapek announced Friday company-wide cost-cutting measures and told division leaders that layoffs are likely, according to an internal memo viewed by the Wall Street Journal.
The austerity measures, which include a ban on all but essential work travel and a freeze on new hires for all but a few critical positions, come days after Disney reported lackluster quarterly earnings and a $1.5 billion quarterly loss at its streaming business, significantly wider than Wall Street analysts had predicted.
In the memo, which was addressed to all executives at the senior vice president level or above, Mr. Chapek said a task force, led by Chief Financial Officer Christine McCarthy and general counsel Horacio Gutierrez, would review marketing, content and administrative spending across the entire company and recommend cuts.
“I’m fully aware this will be a difficult process for many of you and your teams,” Mr. Chapek said in the memo. “We are going to have to make tough and uncomfortable decisions.”
@George-K said in Freezes and layoffs:
Disney reported lackluster quarterly earnings
The Disney headlines for the last 6 months have mostly been about outrageous price increases at the theme parks.
And most of the stories seem to say that even though the prices are outrageous, business is booming.
I guess the woke is expensive.
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Meh, the business model for Disney + called for losing billions in 2022 and 2023 as they built the platform and invested billions in creating exclusive content. This quarter wasn’t a surprise but was the plan. By 2024 it should be profitable.
My bet is that the hiring freezes and potential layoffs are more due to other factors and losses.
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Amazon's not freezing corporate workers, they're laying them off:
Amazon Inc. is preparing layoffs that could total about 10,000 workers as the company continues a broad cost-cutting review led by Chief Executive Andy Jassy, a person familiar with the matter said.
The tech company’s layoffs, which could begin as soon as this week, are targeted for corporate employees and could primarily affect Amazon’s devices business, which includes its hit Alexa products, as well as human resources and retail, the person said. The retail unit has been the primary organization that has had to respond to a slowdown of sales this year.
Amazon has separately already started laying off contractors working in recruiting, who in the past few weeks were told that their assignments were abruptly ending, according to other people. The additional planned layoffs at Amazon are among its full-time employees.
"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
