Technology

Recruiting: the tech sector is shrinking in full swing

Big retirement? Difficulty finding a job? This shouldn’t go on. Recession and inflation fears are causing a massive hiring freeze at technology companies across the Atlantic.

GAFAM is in the lead

Some even took the lead. Amazon.com said last week when it released its quarterly results that it now has about 100,000 fewer employees than the previous quarter. Amazon has also paused development of its office space, citing it needs more time to determine how much space employees need for hybrid work. The company employs 1.52 million full-time and part-time people and remains the largest employer in the tech world.

Alphabet, the parent company of Google, has also slowed down its recruiting efforts and favored technical and engineering profiles. A strategy highlighted by Gartner last week in a study.

Apple also plans to slow down recruitment next year, as does Meta, Facebook’s parent company. Meta has cut its plans to hire engineers by at least 30%. CEO Mark Zuckerberg is pessimistic. He told his company’s employees that he predicted one of the worst recessions in recent history.

And back in May last year, Microsoft announced that it was slowing down recruitment for Windows Groups, Office, and Teams. Then, in July, the company announced that it was starting to cut many job openings.

Beyond GAFAM, the trend towards job cuts

Apart from GAFAM, the trend towards job cuts is seen across all sectors.

Oracle is cutting positions in customer service and marketing. Salesforce is slowing down recruitment and cutting travel costs.

Netflix, the streaming giant, has started laying off employees after it announced the loss of 200,000 subscribers in the first quarter of the year.

Pokémon Go video game company Niantic laid off 8% of its team in June.

Shopify, the e-commerce platform, is laying off 1,000 employees, or 10% of its workforce.

Tesla finally cut 200 jobs in its Autopilot division, the autopilot tool for its cars, during a California plant shutdown last June. CEO Elon Musk then indicated that about 10% of employees will lose their jobs within the next three months.

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