Here are Some of the Companies that Have Laid Off the Employees this Year – So Far

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Just this week, layoffs affecting more than 22,000 employees were announced by Alphabet, the parent company of Google, Microsoft (MSFT), and Vox Media. Their actions come after earlier this month's job losses at Salesforce, Goldman Sachs, and Amazon. As businesses that actively hired over the last two years slam on the brakes and, in many cases, move into reverse, more businesses are anticipated to do the same. 

The cutbacks are in sharp contrast to 2022, which saw 4.5 million more jobs added than any other year on record. However, as the year progressed, the number of jobs decreased, with December's jobs report seeing the smallest monthly gains in two years. When 6.7 million jobs were added in 2021, hiring reached its peak. The US basically shut down during the first year of the pandemic, and 9.3 million jobs were lost. The recent layoffs affect a variety of sectors, including Wall Street and media companies, but Big Tech has been particularly badly struck. Contrast that with the pandemic, when employment losses caused consumers' purchasing patterns to move toward e-commerce and other online services during the lockdown. Tech companies increased their hiring.

But now that employees are going back to work, in-person shopping is bouncing back. The possibility of a recession is rising, interest rates are rising, and demand is tepid due to price increases, thus tech companies are cutting costs. Headlines announcing job losses at the company after company has dominated January. Alphabet, Microsoft, Vox Media, BlackRock, Goldman Sachs, Coinbase, McDonald's, Stitch Fix, Amazon, and Salesforce are among the companies that have announced layoffs this month.