Meta’s move to lay off 11,000 employees strikes fear in the hearts of the SF Bay Area workers as analysts debate if the moves are a dramatic acceleration of cost-cutting at all U.S. firms or a long overdue correction by the region’s biggest technology companies.
The Standard’s Layoff Tracker now shows that during the first week of November, cuts by Meta, Twitter and other companies add up to nearly 19,000 jobs, more than the 14,000 layoffs that occurred during the first 10 months of the year.
Salesforce also announced a round of layoffs yesterday. Axios reports that the software-as-a-service company’s move is expected to affect less than 1,000 members of its sales team.
Several hundred Salesforce employees will also enter a 30-day review period, after which point the company will likely lay them off, Protocol reports.
“Our sales performance process drives accountability. Unfortunately, that can lead to some leaving the business, and we support them through their transition,” a Salesforce spokesperson said.
Almost all tech companies and startups announcing layoffs cite shifting economic headwinds as the primary cause for downsizing. Stripe and Lyft both commenced a round of layoffs last week.
Read the table below for the full list of organizations that have cut staff.
Liz Lindqwister can be reached at [email protected]