Washington-. More than 120 large tech companies, banks and factories in the US conducted rounds of layoffs through 2022 and affected nearly 125,000 employees, according to an analysis shared today by Forbes.
According to that niche medium’s layoff tracker, there were more than a hundred major job cuts as of June, as a direct result of recession fears.
From November to date, more than 60,000 workers in that country are out of work as a result of adjustments approved by Twitter, Meta, and other big tech companies.
Additionally, so far in December, banking giant Morgan Stanley has laid off 1,600 employees and Goldman Sachs has announced about 4,000 employee cuts; Join other financial institutions such as Barclays, Chime, Wells Fargo and Citigroup.
They will be joined by 4,800 who will be affected by a 10 percent cut at semiconductor maker Micron, and about 6,000 who will be laid off at HP Inc. , and 10,000 others likely to be affected by Amazon’s round of shutdowns.
In parallel, more than 91,000 American employees working in the tech sector have been laid off so far this year, according to Crunchbase; Including companies like Robinhood, Shopify, Invitae, and Snap.
The layoffs this year came as inflation reached a 40-year high, helped by higher fuel prices, which jumped to an all-time high in June, experts say.
As a result, the Federal Reserve implemented five rounds of interest rate hikes with the aim of slowing the economy and curbing high inflation; This increased the risk of a recession in the country and put major corporations under control.
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