Technology

Softbank, Apple, Stripe… Latest Waves of Tech Layoffs

in firing nearly 1,300 people at Snap, due to the economic situation, is a bright announcement of this new school year on the employment front. But tech companies continued to cut staff all summer. Overview of ads from our final point done at the beginning of August.

Softbank blames blow for its losses

According to information from Bloomberg, Softbank intends to cut 20% of its workforce at least after $23 billion loss recorded in the last quarter. The liquidation of hundreds of positions within the Softbank Vision Fund may occur as early as September and affect the UK, US and China.

Bloomberg also reported in August thatApple fired 100 recruiters, the American company decided to slow down recruitment due to the economic situation. The only area where Apple appears to be looking to increase its payroll is in online advertising. Financial Times. Tim Cook hopes to grow his advertising revenue from $4 billion to $30 billion in four years.

Crypto.com continues to shrink

In the field of fintech and cryptocurrencies, several hundred employees were laid off in August. Crypto.comcryptocurrency exchange, in addition to 260 job cuts announced in June, according to information from The Verge as well as decipher.

About 50 people also lost their jobs in Bandin its subsidiary TaxJar, acquired in 2021 and specializing in tax services for e-commerce companies. TechCrunch. Insurtech Lemonadefor its part, after completing its $145 million acquisition of auto insurance company Metromile, it fired 20% of the startup’s employees, or 60 people, at the end of July.

Covid exit difficult for Alibaba

In e-commerce group Ali Baba would lay off more than 9,200 employees (out of 245,000) in the second quarter, according to a South China Morning Post article published in August. In the first six months of the year, more than 13,600 people left the staff of the Chinese e-commerce group. Alibaba reported a 50% year-on-year drop in net income in the second quarter, while growth in its cloud business slowed.

In the US, online furniture retailer Wayfair announced in August that it was laying off 870 employees, or 10% of its workforce, in North America and Europe. And fast delivery operator GoPuff laid off 10% of its workforce, or about 1,500 people, in July, following in the footsteps of rivals Getir and Gorillas.

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