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Layoffs 2022: 9 Companies That Have Cut Jobs So Far This Year

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Tech companies are behind some of the biggest layoffs this year


By

William White, InvestorPlace Writer



Nov 10, 2022, 1:02 pm EST




  • Layoffs have several companies reducing their headcounts in 2022.
  • That includes quite a few from the tech sector.
  • This comes alongside economic concerns.

A woman leaving an office with her things in a box representing layoffs.

Source: Stock-Asso / Shutterstock.com

Layoffs have been a big topic among traders this year as several companies have been cutting jobs.

All of this comes as a recession causes problems for the economy. With that comes rising inflation, as well as the Federal Reserve increasing interest rates to try and combat it. This has many companies, especially those in tech markets, cutting jobs and freezing hiring.

Let’s get into some of the biggest 2022 layoffs traders will want to know about below!

2022 Layoffs

  • Twitter starts us off with Elon Musk cutting half of the company’s workforce after acquiring the social media platform.
  • Sticking to social media companies, Facebook parent Meta Platforms (NASDAQ:META) announced 11,000 job cuts on Wednesday.
  • Snap (NYSE:SNAP) is another social media platform that saw layoffs recently with 1,000 positions, or about 20% of its workers, cut in August.
  • The fintech sector has also been affected with Stripe reducing its headcount by 1,100 employees earlier this month.
  • Chime is another fintech company that had to reduce its workforce with 120 jobs cut last week.
  • Moving to a similar sphere, crypto exchange company Coinbase (NASDAQ:COIN) removed 1,100 of its workers in June amid a crypto winter.
  • Switching to something completely different, real estate company Redfin (NASDAQ:RDFN) laid off 862 employees yesterday.
  • Joining the real estate job cuts is Opendoor (NASDAQ:OPEN), which enacted a layoff affecting 550 workers last week.
  • And here’s one more large one to close us out with cloud company Salesforce (NYSE:CRM) cutting 1,000 jobs earlier this week.

And there’s more than just these companies to consider among recent layoffs. Some companies haven’t announced layoffs yet, but are reportedly planning to do so in the near future. You can learn more on these matters below!

InvestorPlace is keeping up will all of the layoff news for 2022. That includes expected layoffs at both Oracle (NYSE:ORCL) and Intel (NASDAQ:INTC), as well as Astra Space (NASDAQ:ASTR) cutting jobs. You can learn more on these topics below!

More 2022 Layoffs News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/11/layoffs-2022-9-companies-that-have-cut-jobs-so-far-this-year/.

©2022 InvestorPlace Media, LLC

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