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UPDATED September 14, 2023 -- As COVID drove everyone online, tech companies hired like crazy. Now we are hitting the COVID tech bust as tech giants shed jobs by the thousands. Check back regularly for updates to our IT job layoffs tracker.
Numerous big tech companies are laying off staff in a tough economy. Here's all the larger job cuts so far.
Food delivery company grub hub to cut off around 400 Jobs, downsizing its workforce by 15 per cent. The The move comes in as the company seeks to reduce costs – in order to stay competitive. In a message to employees, Howard Migdal, Who assumed the position of the company’s chief executive three months ago, said “the cutbacks were necessary as increases in operating and staff costs” undermine sales growth. In the recent times, the company has also been lagging far behind from competitors like Doordash and UberEATS.
"There is no doubt whatsoever that we have a solid foundation in place and an immense opportunity ahead of us -- but it is also clear that we need to make some tough decisions in order to maintain our competitiveness, deliver the best possible service for diners and our other partners, and be successful for the long-term," Howard Migdal, Grubhub CEO, said in a message to employees on Monday.
Sonos is the latest tech company to conduct mass layoff for its current workforce. Sonos, a well-known audio technology company, recently shared news regarding cost-saving measures in a filing submitted to the Securities and Exchange Commission (SEC).