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FutureStarrLatest Layoffs in Tech Industry
With the recent round of layoffs that have hit tech employees hard, many are left wondering where their next jobs are going to come from. With Amazon, Meta and more announcing fresh cuts this month alone--it's not surprising that more and more people are finding themselves jobless.
As such, it's no shock that jobs sites are now being targeted by a number of former tech employees looking for new roles. But is this really a positive development?
Amazon, the online retail giant, recently laid off more than 18,000 employees - marking the largest reduction in employee numbers seen at a major tech firm within the past year due to economic uncertainty.
Andy Jassy, CEO of Amazon, issued a memo to employees outlining the cuts that will affect AWS, PXT (People Experience and Technology), advertising, as well as Twitch - their live streaming service. He noted that they are continuing to evaluate their workforce and believe this decision will benefit Amazon in the long run.
Amazon is undertaking a broad restructuring to reduce expenses and make the business more profitable. In recent months, they have eliminated certain products and services, put off construction on their new headquarters building in Northern Virginia, and shuttered several convenience stores to achieve these goals.
Amazon's warehouses, home to more than 1.5 million employees, were hit hard by layoffs; however, the company also reduced staff in other areas such as customer support and corporate functions like human resources - a trend which is becoming more commonplace across the technology industry.
Due to this, companies like Alphabet and Microsoft have had to cut thousands of employees this year. Twitter too had a major reduction in personnel last month.
Amazon Web Services (AWS), a subsidiary of Amazon, has been particularly hard-hit by the economy as revenue growth has slowed. According to The Wall Street Journal, AWS' growth dropped to 20% in the fourth quarter of 2022 from 35% over two quarters earlier.
Amazon remains committed to opening a fulfillment center in Baton Rouge. The company plans on building the facility on the former Cortana Mall site, which it claims will employ at least 1,000 individuals.
Adam Knapp, president and CEO of the Baton Rouge Area Chamber, stated that this facility would help meet the growing demands of the region's e-commerce industry. Although Amazon's latest round of layoffs may impact their commitment to that project, he predicted it won't prevent them from opening it in 2023.
Jassy also confirmed in an email that the company will continue to make limited hiring in strategic areas, which he expects will result in "significant savings."
Disney may be the world's most beloved media company, but it doesn't exactly have a stellar reputation when it comes to workplace morale and human rights issues. So it's understandable why so many people are disappointed in its latest round of layoffs.
Disney Corporation recently announced a major round of layoffs, impacting around 3.2% of their total workforce. The company is taking these actions in order to reduce expenses and guarantee high levels of profitability for shareholders.
Though this is an extremely difficult decision, it is necessary in order to safeguard the company's future and guarantee its survival during difficult economic conditions. Furthermore, it helps the business stay afloat as the corporate landscape continues to change.
These job cuts are part of Disney's massive restructuring plan that will split their company into three segments: Disney Entertainment, ESPN division and Parks, Experiences and Products unit. This announcement marks Bob Iger's biggest move since becoming CEO again last November.
It's also a major victory for billionaire hedge fund investor Nelson Peltz, who has been pressuring Disney to cut costs and restore dividend payouts to shareholders. With an investment stake in the company of around $1 billion, Peltz believes that Disney should reorganize its business operations and spin off its sports assets.
Though seemingly straightforward, many companies find it challenging. This is especially true of major entertainment and media corporations that are influential within their fields.
These companies are constantly confronted with a range of difficulties. These could relate to employee morale, content quality and company culture.
Though it is understandable that companies need to cut costs in an uncertain economic climate, it would have been much more beneficial if they had done so with a long-term perspective rather than just short-term profits. Doing this would enable them to save money for the long run while still providing their employees with top-notch quality care.
Indeed, an employment website founded in 2004 and boasting 300 million monthly visitors has announced the layoff of 2.200 employees worldwide. This is just the latest of a wave of companies cutting back their workforces as economic uncertainty spreads across industries.
Indeed is a job board that allows employers to post jobs for free or pay to have their postings promoted to the top of search results through sponsored jobs. Employers looking for specific candidates, who need to fill positions quickly or want a larger applicant pool can benefit from this paid option.
Many employers opt to sponsor a certain number of job postings each month as this gives them an edge in finding qualified applicants for their roles. Unlike ZipRecruiter, which requires an expensive monthly fee and specific credits in order to post jobs, Indeed allows clients to set their own budgets and manage associated costs associated with sponsoring a job posting.
Indeed has an extensive resume database, boasting over 200 million profiles. Clients can access this database by purchasing a monthly subscription or downloading an app on their mobile device.
Indeed is one of the most popular job boards, boasting a high search volume and free to use setup. Not only is its job board user-friendly, but its site includes a one-click apply feature which makes submitting information to potential employers effortless.
Job seekers can access its database through iOS and Android applications, providing them with new opportunities while on-the-go. It has an extensive job search filter that makes it simple to narrow down your choices; additionally, it boasts a Hiring Lab to help locate qualified individuals for specific roles.
Indeed has long been the industry leader, but is facing growing competition from other popular job boards. Other sites provide more features than Indeed does, such as customizing each client's experience and having a larger applicant pool. Furthermore, these options may be more cost-effective for businesses needing to advertise numerous positions.
Glassdoor has had a difficult year, and their announcement this week that they would be cutting 30% of their workforce - impacting around 81 employees in Marin County - only adds to that dismal trend.
Glassdoor is renowned for its anonymous workplace reviews, but it's also an indispensable resource for job seekers searching for salary info and company culture. In fact, many employers rely on Glassdoor when recruiting candidates.
Established in 2008, Glassdoor allows users to review companies anonymously, providing them with an inside look into what life at that company might be like. Reviews don't have to be positive or negative - some can even be downright controversial or vicious.
After clicking the "Review Your Company" button, users are invited to answer some questions about themselves and their experience working at that particular company.
Glassdoor boasts over one million monthly reviews, making it one of the most reliable online resources for hiring and employment data. Many major companies now rely on it for recruiting and hiring information - including Google, Microsoft, Facebook, Apple and Amazon.
Glassdoor boasts an open door policy and encourages both current and past employees to share reviews about their experiences at companies they've worked at. This transparency has strengthened Glassdoor's reputation as an employment website, attracting millions of users each month.
In addition to reviews, Glassdoor allows users to leave interview questions and photos of themselves at work. Unlike other job boards, Glassdoor provides insider knowledge - an excellent way to learn about working at a certain company before applying.
Glassdoor was founded by Rich Barton and Robert Hohman, both former executives at Expedia. As they brainstormed for a job board alternative in 2007, the duo came up with the concept for Glassdoor. Their goal was to provide more insight into companies so hiring and recruitment processes would become smoother.