Major firms like Google, Amazon, and Microsoft have made significant reductions, but trying to move toward more modest trimming.
Google, for instance, started 2023 by cutting 12,000 jobs, about 6% of its workforce, and followed that with smaller cuts throughout the year.
Meta has been cutting jobs in some areas and expanding in others. According to analysts, Meta is no longer hiring VR engineers, but has ramped up hiring for AI engineers, which aligns with industry trends.
Meta CEO Mark Zuckerberg’s decision to make these cuts was “beautifully rewarded” by the market, as the company’s stock price rose following the layoffs.
Zuckerberg even dubbed 2023 Meta’s “year of efficiency,” signaling that this leaner approach to staffing could continue.
