From Microsoft to Amazon, here's a look at tech and retail companies that have recently made layoffs
2024 has already proven to be a difficult year for layoffs. A handful of companies have been making job cuts in recent weeks, bringing uncertainty for workers across industries.
In the world of retail and tech, some of these cuts arrive after a ramp-up in hiring seen during the COVID-19 pandemic — when people spent more time and money online. Now, many companies are reducing their workforces to help lower costs and bolster their bottom lines.
layoffs
REI is laying off 357 workers, mostly in the outdoor retailer's headquarters and distribution centers. In a letter to employees, CEO Eric Artz noted that “outdoor specialty retail has experienced four quarters of decline — and that trend has been worsening." While REI was able to outperform this for much of last year, he said, this trend caught up to the company in the fourth quarter, and difficult conditions are expected in 2024.
Levi Strauss & Co. is slashing its global corporate workforce by 10% to 15% in the first half of the year — as part of a two-year restructuring plan that seeks to cut costs and simplify its operations, the denim giant said. The layoffs on the same day Levi's unveiled a proposed 10-year extension to the naming rights for Levi's Stadium, home of the San Francisco 49ers, in a $170 million deal.
Microsoft is laying off some 1,900 employees in its gaming division, according to an internal company memo. The job cuts — which represent about an 8% reduction of Microsoft's 22,000-person gaming workforce — arrive just over three months since the tech giant completed its $69 billion purchase of video game maker Activision Blizzard.
TikTok said its shedding dozens of workers in its advertising and sales unit. A spokesperson for the company confirmed that the social media platform is cutting 60 jobs. TikTok, which is owned by Beijing-based ByteDance, did not provide a reason for the layoffs.
Video game developer Riot Games, which is behind the popular “League of Legends” multiplayer battle game, is trimming 11%
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