{"id":455713,"date":"2022-05-31T23:26:49","date_gmt":"2022-05-31T20:26:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/companies-axe-workers-at-highest-rate-since-2020\/"},"modified":"2022-05-31T23:26:49","modified_gmt":"2022-05-31T20:26:49","slug":"companies-axe-workers-at-highest-rate-since-2020","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/companies-axe-workers-at-highest-rate-since-2020\/","title":{"rendered":"#companies axe workers at highest rate since 2020"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a279d372ca76\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a279d372ca76\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/companies-axe-workers-at-highest-rate-since-2020\/#%E2%80%9Ccompanies_axe_workers_at_highest_rate_since_2020%E2%80%9D\" >&#8220;companies axe workers at highest rate since 2020&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9Ccompanies_axe_workers_at_highest_rate_since_2020%E2%80%9D\"><\/span>&#8220;companies axe workers at highest rate since 2020&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a> companies in May axed employees at the highest rate in two years, as rising interest rates and a stock market selloff squeeze startups and Big Tech firms alike.\u00a0<\/p>\n<p>Sixty-six tech firms handed out a whopping 16,800 pink slips last month. That\u2019s more than the 13,600 layoffs across 52 companies during the first four months of 2022 combined \u2014 and the most employees to get the axe in a single month since May 2020, according to tech jobs tracking site <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/layoffs.fyi\/\">layoffs.fyi<\/a>.\u00a0<\/p>\n<p>The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> comes after tech companies hired aggressively and competed fiercely for talent in late 2020 and 2021 as they were buoyed by low interest rates and surging stock prices. The money has since largely stopped flowing, with the tech-heavy Nasdaq Composite Index down 23.2% this year and venture capital funding drying up.\u00a0<\/p>\n<p>John, a tech worker who spoke to The Post under a pseudonym, left a long-time tech job in March to join Bolt \u2014 an unprofitable checkout payments company that\u2019s raised more than $1 billion in venture capital.\u00a0<\/p>\n<p>Less than a month into John\u2019s time at Bolt, the company\u2019s CEO told employees he was instituting a hiring freeze. Then last week, Bolt laid off John and hundreds of other employees through video calls, giving him six weeks of severance pay.\u00a0<\/p>\n<p>\u201cI was barely there for two months,\u201d John said. \u201cI feel deceived.\u201d\u00a0<\/p>\n<p>John and the thousands of other tech workers from companies including Netflix, PayPal, Getir, Klarna and Carvana who were laid off in May could have a difficult time finding new jobs.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/netflix-36-1.jpg?w=1024\" alt=\"\" class=\"wp-image-22475112\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/netflix-36-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/netflix-36-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/netflix-36-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Netflix was one of many tech companies that laid off employees in May. <\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>Large tech firms including <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a> parent Meta and Twitter have both frozen hiring altogether for some departments, while other companies including Microsoft, Snap, Uber, Salesforce, Instacart and Coinbase have slowed hiring.\u00a0<\/p>\n<p>On Blind, a forum for tech workers, the mood turned sour in May as more companies implemented layoffs. <\/p>\n<p>\u201cLet\u2019s prepare for the worst,\u201d one Roku employee wrote last week, writing that it\u2019s a \u201cmatter of time\u201d until the tech \u201cbloodbath\u201d ramps up. <\/p>\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/facebook-meta-82-1.jpg?w=1024\" alt=\"Meta\" class=\"wp-image-22475013\" width=\"619\" height=\"412\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/facebook-meta-82-1.jpg?quality=75&amp;strip=all&amp;w=1236 1238w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/facebook-meta-82-1.jpg?quality=75&amp;strip=all&amp;w=927 928w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/facebook-meta-82-1.jpg?quality=75&amp;strip=all&amp;w=619 619w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/facebook-meta-82-1.jpg?quality=75&amp;strip=all&amp;w=309 309w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/facebook-meta-82-1.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 619px) 100vw, 619px\"\/><figcaption>Facebook parent Meta has frozen hiring for some departments. <\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>In another thread, an Amazon employee gave advice to other tech workers: \u201cPlease don\u2019t go into depression. Don\u2019t sell your homes.  Don\u2019t sell your car. Keep interviewing.\u201d <\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>In what\u2019s likely distressing news for many tech workers, legendary venture capitalist and Meta board member Marc Andreessen wrote on Twitter in April that tech companies have much more room to make cuts.\u00a0<\/p>\n<p>\u201cThe good big companies are overstaffed by 2x,\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/pmarca\/status\/1515195878604087297\">Andreessen said<\/a>. \u201cThe bad big companies are overstaffed by 4x or more.\u201d\u00a0<\/p>\n<p>Brian Kropp, chief of human resources research at the consulting firm Gartner, told The Post that unprofitable, venture capital-backed startups are more likely to make deep cuts during the current downturn than bigger, publicly traded firms.\u00a0<\/p>\n<p>\u201cAs VCs have less access to essentially free money, they\u2019re expecting returns from companies,\u201d Kropp said. <\/p>\n<p>But despite the dismal mood among some tech workers, Kropp doesn\u2019t expect the current downturn to translate into an industry-wide washout. He predicts that the number of layoffs in the coming months are unlikely to top the 16,800 dumped in May.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Marc-Andreessen-41.jpg?w=1024\" alt=\"Marc Andreessen\" class=\"wp-image-22474939\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Marc-Andreessen-41.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Marc-Andreessen-41.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Marc-Andreessen-41.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>\u201cThe bad big companies are overstaffed by 4x or more,\u201d venture capitalist Marc Andreessen said. <\/figcaption><figcaption><span class=\"credit\">Steve Jennings\/Getty Images for TechCrunch<\/span><\/figcaption><\/figure>\n<p>\u201cThere isn\u2019t evidence to say that it will get worse,\u201d Kropp said.<\/p>\n<p>Outside of tech, the labor market <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to remain very tight.\u00a0<\/p>\n<p>Recent Gartner research shows that just 4% of US companies have started laying off employees, while 7% have frozen hiring and 15% have started slowing down hiring, Kropp said. <\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Klarna-39.jpg?w=1024\" alt=\"Klarna\" class=\"wp-image-22475062\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Klarna-39.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Klarna-39.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Klarna-39.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>\u201cBuy now pay later\u201d startup Klarna laid off 10% of its workforce in May. <\/figcaption><figcaption><span class=\"credit\">dpa\/picture alliance via Getty Images<\/span><\/figcaption><\/figure>\n<p>And a recent Gartner survey of human resources executives showed that 50% believe employees will be harder to find during the rest of 2022, while 25% believe the labor market will stay the same and 25% believe it will get looser.\u00a0<\/p>\n<p>\u201cThe average company still thinks the labor market is very competitive,\u201d Kropp said.\u00a0<\/p>\n<p>Yet John has found it hard to land a new job, saying that the most desirable tech companies have few if any open positions.\u00a0<\/p>\n<p>\u201cIt doesn\u2019t seem like all of the big-name brand companies are hiring,\u201d he said. \u201cI basically have to go begging back to my previous job to see if they\u2019ll take me back.\u201d\u00a0\n                        <\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/05\/31\/tech-layoffs-companies-axe-workers-at-highest-rate-since-2020\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;companies axe workers at highest rate since 2020&#8221; Technology companies in May axed employees at the highest rate in two years, as rising interest rates and a stock market selloff squeeze startups and Big Tech firms alike.\u00a0 Sixty-six tech firms handed out a whopping 16,800 pink slips last month. That\u2019s more than the 13,600 layoffs&#8230;<\/p>\n","protected":false},"author":1,"featured_media":455714,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/layoff2.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[129772,4960,1377,33355],"class_list":["post-455713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-31-22","tag-layoffs","tag-netflix","tag-silicon-valley"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/455713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=455713"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/455713\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/455714"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=455713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=455713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=455713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}