Layoffs have been a big topic among traders this year, with several companies cutting jobs in 2022.
All of this comes as a potential recession causes problems for the economy. Rising inflation is hitting the market hard, as are the Federal Reserve’s interest rate increases to combat inflation. This has many companies — especially those in tech markets — cutting jobs and freezing hiring.
Let’s get into some of the biggest 2022 layoffs traders will want to know about below!
Layoffs 2022: 9 Companies That Have Cut Jobs So Far
- Twitter starts this list off, with Elon Musk cutting half of the company’s workforce after acquiring the social media platform.
- Sticking to social media, Facebook parent Meta Platforms (NASDAQ:META) just announced 11,000 job cuts on Wednesday.
- Snap (NYSE:SNAP) is another social media platform that saw layoffs recently. The company cut 1,000 positions, or about 20% of its workers, back in August.
- Fintech has also been affected by layoffs, with Stripe reducing its headcount by 1,100 people earlier this month.
- Chime is another fintech name that reduced its workforce this year, with 160 jobs cut this month.
- Moving to a similar sphere, crypto exchange company Coinbase (NASDAQ:COIN) cut 1,100 people in June amid a crypto winter.
- In another area of tech, real estate company Redfin (NASDAQ:RDFN) also laid off 862 employees yesterday.
- Joining the real estate job cuts is Opendoor (NASDAQ:OPEN), which cut 550 workers last week.
- Lastly, cloud company Salesforce (NYSE:CRM) cut “fewer than 1,000” jobs earlier this week.
There’s more than just these companies to consider among recent layoffs, however. Some companies haven’t announced layoffs yet, but are reportedly planning to do so in the near future. You can learn more on these matters below!
InvestorPlace is keeping up with all of the layoff news for 2022. That includes expected layoffs at both Oracle (NYSE:ORCL) and Intel (NASDAQ:INTC) as well as Astra Space (NASDAQ:ASTR) cutting jobs. You can learn more on these topics below!
More 2022 Layoffs News
- Oracle Layoffs 2022: What to Know About ORCL Job Cuts, Hiring Freeze
- Intel Layoffs 2022: What to Know About INTC Job Cuts, Hiring Freeze
- Astra Layoffs 2022: ASTR Stock Falls as Astra Space Cuts 16% of Staff
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
