eBay, Zoom and, in Brazil, C6 Bank have joined the list of mass layoffs, collectively laying off some 2,300 employees.
eBay, Zoom and, in Brazil, C6 Bank have joined the list of mass layoffs, collectively laying off some 2,300 employees. The three companies say the cuts are part of a “restructuring” after the growth boom in the tech sector during the pandemic.
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The online sales platform has laid off around 500 employees, or 4% of its workforce, due to declining revenues as commerce reopens due to the “macroeconomic situation worldwide” — says Jamie Iannone, CEO of eBay.
“The workforce reduction could be a move to streamline operations and make room for new investments focused on increasing platform capabilities and visibility,” said Poonam Goyal and Abigail Gilmartin, analysts at Bloomberg Intelligence. The company is expected to report a revenue decline of about 6% when it reports holiday quarter results.
already the Bank C6 announced that the closures have taken place, but did not disclose the number of affected professionals. According to the Layoffs Brasil portal, the cut would have affected around 500 people, in the areas of technology, design, human resources and products. In a note to the Seu Dinheiro website, the digital bank specified that the reduction in personnel is “a normal operational movement”, due to the change of focus of investments.
Finally, after its peak during the covid-19 pandemic, the Zoom in announced the layoff of 1,300 employees, corresponding to 15% of the company. The company justified the cuts by accelerating growth during the lockdown period, when employee numbers grew 3-fold in less than 24 months.
“We have worked tirelessly to make Zoom better for our customers and users,” said Eric S. Yuan, the company’s chief executive officer. “But we also made mistakes. We didn’t take the time we should have to analyze our teams and verify that we were growing sustainably towards our top priorities.”
The executive still claims it is responsible for past mistakes and today’s actions. As a way to demonstrate responsibility “not only in words but also with [suas] treasury shares,” Yuan announced that he will cut his salary by 98% and waive the company bonus in the next fiscal year. The other executives will get a 20% cut in addition to the bonus waiver.
More than 2,500 people were made redundant per day in 2023
In just 38 consecutive days a year, 2023 already accumulates 97,996 licensed professionals in 325 companies worldwide, monitored by the portal layoffs.fyi. Some of the major organizations on this list are:
- amazon — 18,000 redundancies;
- Microsoft — 11,000 redundancies;
- sales force — 8,000 redundancies;
- PagSeguro — 500 redundancies;
- Nubank — 40 employees;
- Twitter — 12 people;
- Video — 11% of personnel;
Source: Stadium; Your money; Bloomberg; layoffs.fyi
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Source: Terra
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