Sino-Singapore Jingwei reported on February 23 that the "tide of layoffs" in American companies is still continuing. According to the Wall Street Journal report on the 23rd, companies outside the technology industry have also begun to lay off employees.

Large companies in the financial industry, manufacturing industry, and retail industry are all listed.

  The report mentioned that most of the layoffs at the beginning of this year were concentrated in the technology field. Companies that laid off employees included Facebook parent company Meta Platforms Inc., Twitter Inc., Google parent company Alphabet Inc., Microsoft and IBM.

Outside the technology circle, companies such as Dow and 3M have announced layoffs, indicating that the latest round of layoffs has begun to move to other economic sectors.

technology and media industry

  Alphabet, Google's parent company, said it plans to cut about 12,000 jobs in response to the gloomy economic outlook.

The 6% layoff is also the largest layoff in the company's history.

The company said the round of layoffs will involve various departments and regions of Alphabet, some of which will be more affected, including the recruitment department and projects outside the company's core business.

  Amazon will lay off more than 18,000 people in this round, mainly involving corporate employees who do not work in warehouses.

The company said last year it was planning layoffs as more consumers returned to brick-and-mortar stores and online shopping decreased.

  Dell said it would cut about 5% of its workforce in light of rising interest rates and tightening financial conditions.

According to the total number of employees announced by the company in early 2022 of 133,000 (the latest disclosed data), the number of layoffs this time is roughly equivalent to 6,600.

  The Walt Disney Co. said it plans to cut 7,000 jobs and cut costs by $5.5 billion as part of a corporate restructuring plan.

The reorganization will give more power to executives in the content space and put a greater focus on sports media.

  DocuSign Inc. said it plans to cut about 10% of its workforce, equivalent to cutting about 700 jobs.

According to documents filed with securities regulators, the round of layoffs will focus on the e-signature software developer's field department.

Prior to this, the company had just announced a round of layoffs in September last year, saying it would cut about 9% of its workforce.

  Ericsson plans to cut about 1,400 jobs in Sweden as demand for the company's 5G equipment slows in markets such as the United States.

The telecom equipment maker said late last year that it planned to cut costs by 9 billion Swedish kronor ($861 million) by the end of 2023, mainly by streamlining processes, closing some facilities and reducing the use of external consultants.

  IBM said it would cut about 3,900 jobs, or about 1.4% of its workforce.

The layoffs follow a charge of about $300 million as the company spins out technology services firm Kyndryl Holdings Inc. and divests its health-care business, a spokesman said.

  Microsoft CEO Satya Nadella said in a blog post that the company would cut 10,000 employees, less than 5 percent of its workforce.

  News Corp said it expects to cut 5 percent of its workforce this year, or about 1,250 jobs.

  Okta Inc. said it would cut about 300 jobs, or 5 percent of its workforce.

The business software provider had 5,030 employees as of Jan. 31, 2022, compared to 2,248 at the same time in 2020.

  Philips said that as part of a restructuring aimed at improving performance, it will also cut 6,000 jobs by 2025, including 3,000 this year.

Previously, the company had announced layoffs of 4,000 in October last year.

  Salesforce Inc. said it would cut 10% of its workforce.

Co-CEO Marc Benioff said the company overhired at the start of the pandemic and is now seeing weak demand for its products and services as consumers cut back on spending.

  SAP will cut up to 3,000 jobs after a sharp drop in profits late last year.

Chief Financial Officer Luka Mucic said the layoffs would spread across business regions, with most of them taking place outside the business software company's German headquarters.

  Splunk Inc. said it would cut about 325 jobs, or about 4% of its workforce.

  Spotify Technology SA CEO Daniel Ek said in a letter to employees that the company plans to cut about 6% of its workforce as part of cost-saving measures.

The Stockholm-based company employs about 8,600 people worldwide, according to Spotify's website.

  Unity Software Inc. announced layoffs of 284 people.

The laid-off employees may be able to be rehired if they apply for other vacancies.

In June last year, the company disclosed layoffs.

Before the latest round of layoffs, the company employed more than 8,000 people.

  Alphabet's healthcare unit Verily Life Sciences will cut more than 200 jobs.

The company has more than 1,600 employees, and the layoffs will affect about 15% of Verily's jobs.

  Vimeo Inc. will cut 11% of its workforce.

The layoffs are due to slowing economic growth, including high interest rates and fears of a global recession.

  Yahoo will cut 20% of its workforce by the end of the year, and said nearly 1,000 workers will be eliminated the week of Feb. 9.

  Zoom Video Communications Inc. will cut 1,300 jobs, or 15% of its workforce, while Chief Executive Yuan Zheng said he and other top executives will take pay cuts.

As of January 2022, the number of Zoom employees was close to 6,800, compared to approximately 2,500 during the same period in 2020.

financial services

  BlackRock, the world's largest asset management company, will cut 500 jobs, or about 3% of its workforce, according to a memo received by employees.

  "The Wall Street Journal" quoted people familiar with the matter as saying that in order to cut costs, Bank of New York Mellon plans to cut about 3% of its staff this year, which is equivalent to about 1,500 jobs.

At the end of last year, BNY Mellon had 51,700 full-time employees.

  Goldman Sachs plans to cut 3,200 jobs.

Goldman Sachs and other Wall Street banks are limiting spending to offset a drop in trading revenue.

Goldman executives have been planning thousands of job cuts since at least December.

  McKinsey plans to cut as many as 2,000 jobs, in what would be one of the firm's largest layoffs to date, according to people familiar with the matter.

The restructuring plan for its 45,000-strong workforce is expected to be completed in the coming months, the person said.

  PayPal will lay off 2,000 people, equivalent to 7% of its workforce.

PayPal is the latest fintech company to cut costs in the face of high interest rates and volatile markets.

Retail and Service Industry

  FedEx will cut more than 10% of management positions globally and integrate some teams and functions.

The courier industry giant would not disclose the specific number of layoffs.

Since the beginning of the current fiscal year in June 2022, the company has cut 12,000 people in the United States through natural attrition, freezing hiring and other personnel operations.

According to the company's latest financial report released in December last year, its global workforce exceeded 550,000.

  Bed Bath & Beyond Inc. is planning more cost-cutting plans, including an undisclosed number of layoffs.

  The Wall Street Journal, citing employees and industry analysts at Carvana Co., reported that the number of layoffs will increase after the company cut 4,000 jobs last year.

  Hasbro said it will cut 15 percent of its global workforce this year, roughly equivalent to 1,000 jobs, as it focuses on cutting costs and improving growth and profitability.

As part of the company shakeup, the toy and entertainment company's president and chief operating officer, Eric Nyman, is leaving.

  McDonald's said it would cut or restructure corporate workers despite plans to expand its operations globally.

The company's chief executive said he hoped to save money through personnel adjustments, but did not have a firm figure on the number of expected layoffs.

  Stitch Fix Inc. said it would cut 20% of its salaried jobs.

Elizabeth Spaulding will step down as chief executive after less than 18 months, and the Stitch Fix founder will return to take the helm.

  Food delivery start-up Wonder Group has also joined the layoffs.

The company had intended to roll out a fleet of food trucks across the U.S., but later said it had switched to a lower-cost restaurant delivery model, which would allow it to save money while money remains tight.

cryptocurrency industry

  Coinbase Global Inc. said it would lay off about 20% of its workforce and cut operating expenses by 25% from the previous quarter, including layoffs of about 950 people.

As of the end of September last year, the company had about 4,700 employees.

  Crypto.com will cut 20% of its global workforce through a second round of layoffs within six months.

On the day the layoffs were announced, hundreds of people found they could no longer log into Crypto.com's systems.

  Genesis Global Trading Inc., a cryptocurrency lender, has filed for Chapter 11 bankruptcy protection after laying off 30% of its workforce.

After the latest round of layoffs, Genesis has 145 employees left.

Automotive and Manufacturing

  Boeing said it would cut about 2,000 jobs through layoffs and natural attrition, mainly in finance and human resources.

The company will outsource some of the jobs.

However, Boeing still plans to increase its headcount this year.

In January, Boeing said it would add 10,000 jobs overall this year, mostly in engineering and manufacturing.

  Dow said it would cut around 2,000 jobs globally.

The company said it set a $1 billion cost-cutting target this year as slower economic growth and weaker demand weigh on sales.

  Ford Motor said it plans to cut 3,800 jobs in Europe over the next three years.

Most of the job cuts were concentrated in Ford's European product development staff, with Germany and the United Kingdom taking the biggest cuts.

  Rivian Automotive Inc. plans to start a new round of layoffs, the electric vehicle startup's latest effort to preserve cash.

Rivian plans to cut another 6 percent of its workforce, CEO RJ Scaringe said in a letter to employees.

  3M Co. said it will cut 2,500 manufacturing jobs worldwide in view of turmoil in overseas markets and weak consumer demand.

3M's products include Scotch tape, Post-it Notes and thousands of other industrial and consumer products.

(Sino-Singapore Jingwei APP)