Google and Wayfair join tech companies announcing big layoffs
Google and Wayfair Join Tech Companies in Announcing Big Layoffs 02:04
BOSTON — Layoffs have swept the country and have peaked over the past week.
Google, Microsoft, Salesforce and Boston-based Wayfair all announced significant job cuts over the past seven days. This has resulted in tens of thousands of layoffs this month alone.
Wayfair announced Friday morning that the company is laying off more than 1,700 employees. That’s in addition to the nearly 900 the company laid off in August 2022.
In a memo to employees, the company said, “These changes reflect efforts to eliminate layers of management and reorganize to be more agile.”
Peter Ireland has taught economics at Boston College for two decades. “There’s no way you can take that as good news,” Ireland said. “These (companies) are all sectors of the economy that were really booming while the rest of the economy was struggling with the pandemic and its aftermath.”
Ireland said any of these companies that are reducing their workforce fall under the technology, finance or online retail category. All economic sectors that thrived during the pandemic, causing rapid hiring trends to keep up with demand.
Sundar Pichai, the CEO of Google, announced a 10,000 job cut on Friday. In a statement to the company, Pichai said: “Over the past two years we have experienced periods of dramatic growth.
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