From Google to Amazon, These Are the Media and Tech Companies Making Severe Layoffs This Year

Notable companies like Google, Meta, and finance leader Goldman Sachs made considerable reductions in their workforce. As we step into 2024, the trend of job cuts seems to persist, indicating a challenging period ahead for employment across major US industries.

The survey included responses from approximately 900 leaders at companies with over 10 employees. The apprehension of a recession is a significant concern for these leaders, influencing their cautious outlook for the year.

The Alphabet Workers Union publicly voiced its dissatisfaction with Google’s recent layoffs in a post on X, the platform previously known as Twitter. Labeling the job cuts as “needless,” the union highlighted the discord between the company’s profitable earnings and its decision to reduce its workforce.

Having grown fivefold since 2020, Discord found it necessary to decrease its employee count to streamline operations and focus on efficiency, leading to a 4% reduction in August.

The company emphasizes its commitment to supporting the employees affected by this change. In a recent statement, Snap Inc. announced that the restructuring would incur charges estimated between $55 million to $75 million, predominantly for severance and related costs.

“Throughout the past year, we’ve looked at nearly every aspect of our business with an eye towards improving our ability to deliver even more breakthrough movies, TV shows, and live sports in a personalized, easy to use entertainment experience for our global customers,” Hopkins said in a memo to staff. “As a result, we’ve identified opportunities to reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact. As a result of these decisions, we will be eliminating several hundred roles across the Prime Video and Amazon MGM Studios organization.”

Despite efforts to curtail expenses, the company’s operational size was deemed larger than necessary, prompting a substantial reduction in the workforce to achieve a more sustainable business size.

Additionally, Sony plans to close its entire PlayStation London studio as part of these cuts. Hermen Hulst, the head of PlayStation Studios, explained that evolving player expectations and the company’s push towards online experiences and expanding to PC and mobile gaming necessitate a change in strategy and resource allocation. Hulst also mentioned that this reorganization would lead to the cancellation of some game projects, although specific titles were not disclosed.

The layoffs are part of an effort to align the company’s expenses with its business growth, aiming to establish a more sustainable operational model for the future.

This adjustment follows Microsoft’s $69 billion acquisition of Activision Blizzard. Microsoft is facing significant organizational changes, including a key departure. Mike Ybarra, the gaming company’s president, announced his exit in a heartfelt message, posting on X, “It’s an incredibly hard day and my energy and support will be focused on all those amazing individuals impacted — this is in no way a reflection on your amazing work.”

Despite the layoffs, Salesforce continues to recruit for 1,000 open positions, indicating a strategic reshuffling rather than a broad-scale reduction.

This move is particularly notable as it follows closely on the heels of the company’s celebrated success across multiple broadcasting platforms, including CBS, Paramount+, Nickelodeon, and Univision, Business Insider notes.