It’s been another brutal month for workers in the tech and media industries. The month started with Disney announcing 7,000 job cuts and News Corp. announcing 1,250 of its own. Tech company job cuts also piled on in early February with the likes of Dell, eBay, Zoom, Yahoo, and more laying off nearly 10,000 workers.
Yet despite the month quickly coming to a close, layoffs continue to hit the tech industry hard. As Reuters reports, last Friday Stockholm-based telecom equipment giant Ericsson announced it will lay off 8,500 employees across the globe—nearly 8% of its workforce. The news was communicated to employees in an internal memo. That memo did not announce where the majority of cuts would take place, but analysts think North American positions are likely to bear the brunt of the layoffs.
The cuts at Ericsson rank as one of the largest workforce reductions in tech since last fall’s wave of mass layoffs began. According to data compiled by Layoffs.fyi, Ericsson now holds the fifth position when it comes to the number of tech company layoffs made since late last year. It’s eclipsed only by Google (12,000), Meta (11,000), Amazon (10,000), and Microsoft (10,000).
Further down the list, another high-profile tech company is reducing its workforce yet again. In November, Twitter laid off 3,700 employees. New CEO Elon Musk made the cuts—estimated to be 50% of Twitter’s workforce at the time—in an effort to reduce costs after he overpaid tens of billions of dollars when purchasing the company. Now, Musk has reportedly made additional layoffs.
As Reuters notes, Musk laid off at least another 200 Twitter employees on Saturday night. That’s estimated to be about 10% of its current workforce, which now is down to around 2,100 after the additional cuts. These layoffs reportedly hit roles in machine learning and site reliability positions.
These latest layoffs could cause not just hardships for the employees laid off but for users as well. Site reliability roles are responsible for keeping the Twitter service running. Twitter has recently suffered periodic outages, and it’s hard to see how reducing the number of workers responsible for site reliability can turn that trend around.
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