New reports are signaling that the number of tech company layoffs this year is nearing levels from the Great Recession circa 2008-2009.
MarketWatch said the layoffs are part of a strategy by tech firms to maintain viability through 2023 and beyond. The cuts are coming now, and are impacting many companies in Western Washington. We’ve already heard of cuts at Microsoft, Meta — the parent company of Facebook — and Twitter. Seattle’s status as a tech hub ensures the region will feel the impact — which is already being felt — as tech companies deal with the economic pressures that other companies are facing.
Meta announced that it would lay off 11,000 of its workers, which would make the cuts the largest in the company’s history. The company is laying off more than 700 employees in the Puget Sound region. Muddu Sudhakar is the CEO of Aisera, an artificial intelligence firm with a focus on information technology. He said the cuts could worsen: “I think we’re just scratching the surface, ‘23 will be worse from what I am hearing from customers and CIOs .”
Twitter’s layoffs are due more to Elon Musk’s takeover and revamp of the social media company — some industry analysts have questioned his move to lay off his employees. The impact here in Washington was tangible — Washington state officials said more than 200 local employees were included in the Twitter layoffs.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Carolina tops women’s AP Top 25, Utah has highest ranking since 2008The Utes are up to No. 13 after beating BYU over the weekend.
Read more »
Wealth-to-income ratios have not returned to pre-Great-Recession levelsHouseholds in the bottom third have been truly devastated.
Read more »
Michigan, native tribes reach new Great Lakes fishing dealTRAVERSE CITY, Mich. (AP) — Four Native American tribes have agreed with Michigan and federal officials on a revised fishing policy for parts of three of the Great Lakes, officials said Monday. The deal involves contentious issues for groups wanting shares of a dwindling resource, as populations of valuable species — particularly lake trout, whitefish and salmon — have fallen over the past two decades.
Read more »
Great Dane found stranded on island gets a new homeA dog who was found stranded on a marshy island in Michigan in the fall has officially been adopted, according to the animal shelter that had taken her in.
Read more »
Great Dane found stranded on island gets a new homeAuthorities rescued her from the island in late September and took her to the Clare County Animal Shelter for rehabilitation.
Read more »
Great Dane found stranded on island gets a new homeZaria, a Great Dane, was stranded on an island in the middle of Cranberry Lake for weeks after officials said she ran away from her family in August
Read more »