In the past two years, millions of people worldwide lost their jobs.
There have been various reasons why companies had to lay off some staff members, one big one being Covid and the effect of the two-year pandemic.
Other reasons have been because the business can’t afford to keep them or that artificial intelligence has taken over and a human is no longer needed.
The economic climate is getting worse so more lay-offs and hiring freezing are anticipated over the next few months.
Here is a list of the firms that announced mass layoffs this year.
Amgen is one of the world’s largest independent biotechnology companies.
The company is in the Energy & Utilities industry.
In September 2022, the business announced plans to lay off 1,100 employees.
Amgen revealed plans to get rid of 20 percent of its staff worldwide.
This will impact 1,100 more people as well as the 2,900 layoffs already taking place.
The reason for the job cuts is due to restructuring and reorganization.
Meta is an American multinational technology empire founded in Menlo Park, California, which owns the social media giant Facebook.
It was announced this month the company plans to cut 13 percent of its workforce.
This will impact 11,000 people.
The reason for such a big layoff scheme is that the company is trying to become “leaner and more efficient.”
CEO Mark Zuckerberg has not ruled out further job losses since making the announcement.
Peloton is an exercise equipment and media company based in New York City.
This company is in the consumer products industry.
In August 2022, Peloton announced plans to lay off 800 people in its distribution and customer service departments.
It is the business’s third set of layoffs this year.
They are closing retail shops and increasing prices on exercise bikes due to sales and stock prices decreasing.
Twitter is one of the world’s leading social media platforms, with its headquarters in San Francisco, California, United States.
In July 2022, 30 percent of its workforce was to be let go.
Since Elon Musk announced the acquisition of Twitter, it has begun to reduce its workforce.
The site has laid off around 30 percent of staff since Musk took over earlier this month.
Based in Los Gatos, California, Netflix is a subscription streaming service and production firm.
Netflix is in the entertainment industry.
In June this year, Netflix laid off around 300 employees.
They let people working in various business functions in the company go, with the majority being based in the US.