Tech layoffs latest: Twitter, Lyft, Stripe, and others join the list of companies cutting jobs

 

By Michael Grothaus

The nonstop drama that’s been going on at Twitter all week is ending on a very real, very sour note. Today, Elon Musk’s company began sending layoff notices to roughly 50% of Twitter staff. As Bloomberg reports, at 7,500 employees (November 26, 2022), that means Musk is set to lay off over 3,700 of them today. The layoffs will reportedly impact Twitter’s workforce globally and will hit nearly every division at Twitter from marketing to engineering to legal.

Tech layoffs latest: Twitter, Lyft, Stripe, and others join the list of companies cutting jobs

Yet Twitter isn’t the only tech company that has announced layoffs this week. After a significant number of tech industry job cuts were announced over the summer, tech giants and startups have continued to cut jobs into the fall as inflationary pressures and a weakening economy present threats to growth not seen for years. Here are some of the companies that have announced layoffs recently, according to data compiled by the Layoffs.fyi Tracker:

    Iron Ox: 50% (~50 jobs)

    Gem: 33% (~100 jobs)

    Dapper Labs: 22% (~134 jobs)

    OpenDoor: 18% (~550 jobs)

    Pleo: 15% (~150 jobs)

    Smava: 15% (~100 jobs)

    Stripe: 14% (~1000 jobs)

    Lyft: 13% (~700 jobs)

Layoffs.fyi’s data shows that in October 2022 alone there have been more than 12,100 layoffs across 88 companies. Just four days into November there have already been over 3,500 layoffs across 19 companies (that data likely doesn’t include the Twitter layoffs today).

And while not all tech giants are announcing layoffs, other big players are undergoing hiring freezes. Amazon confirmed a corporate hiring freeze on Thursday and Bloomberg reports that iPhone giant Apple has “paused hiring for many jobs outside of research and development.”

 

Fast Company

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