The Companies Conducting Layoffs in 2023: Here’s the List

Several U.S. companies are slashing staff at the beginning of 2023, continuing the downsizing that took place last year as businesses recalibrate after growing rapidly at the start of the Covid-19 pandemic.

Waning demand and weaker revenue forced many major employers to scale back payrolls and institute hiring freezes in 2022. That hangover has spilled over into the New Year. 

The job cuts have been concentrated in the tech industry and have included Facebook parent Meta Platforms Inc., Twitter Inc., and

Microsoft Corp.

MSFT 1.33%

The slowdown in the tech industry has also started to reverberate on Wall Street where revenue for tech-related deals has fallen off.   

The broader labor market has continued to add jobs, but growth has slowed. Employers added 223,000 jobs in December and the unemployment rate fell to 3.5%.

Here’s a look at some of the companies that have announced layoffs.

Salesforce

Salesforce Inc.

CRM 4.76%

said last week it would cut 10% of its staff. Salesforce Co-Chief Executive

Marc Benioff

said the company overhired at the start of the pandemic and now faced sluggish demand from customers who were cutting back on spending. 

Goldman Sachs

Goldman Sachs

GS 1.60%

Group Inc. plans to cut 3,200 jobs starting this week. Goldman and other Wall Street banks are curbing expenses to offset declines in deal-making revenue. Goldman’s executives have been planning since at least December to slash thousands of jobs.

Amazon

Amazon.

AMZN 1.79%

com Inc. is laying off more than 18,000 employees concentrated in its corporate ranks. The company said last year it was planning job reductions after more customers began returning to bricks-and-mortar stores and have begun spending less money online. 

Stitch Fix

Stitch Fix Inc.

SFIX 6.59%

said it is trimming 20% of the company’s salaried jobs. The company, which provides personalized shipments of apparel, shoes and accessories, has been facing a sales downturn. The San Francisco-based company said

Elizabeth Spaulding

would resign as chief executive after spending less than 18 months in the role. The company’s founder is returning to lead the company.

Vimeo

Vimeo Inc.,

VMEO 2.96%

a video-sharing platform, said it would lay off 11% of its staff. The company said it was making the cuts amid slowing economic growth, including high interest rates and global recession fears.

McDonald’s

McDonald’s Corp.

MCD -0.79%

said it was planning to make “difficult” decisions about changes to corporate staffing levels. The fast-food company said it would trim or reorganize corporate staff, even as it plans to expand its business globally. The CEO said he expects to save money from the staffing changes but doesn’t have a set number of jobs he’s looking to cut.

Write to Joseph De Avila at [email protected]

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Several U.S. companies are slashing staff at the beginning of 2023, continuing the downsizing that took place last year as businesses recalibrate after growing rapidly at the start of the Covid-19 pandemic.

Waning demand and weaker revenue forced many major employers to scale back payrolls and institute hiring freezes in 2022. That hangover has spilled over into the New Year. 

The job cuts have been concentrated in the tech industry and have included Facebook parent Meta Platforms Inc., Twitter Inc., and

Microsoft Corp.

MSFT 1.33%

The slowdown in the tech industry has also started to reverberate on Wall Street where revenue for tech-related deals has fallen off.   

The broader labor market has continued to add jobs, but growth has slowed. Employers added 223,000 jobs in December and the unemployment rate fell to 3.5%.

Here’s a look at some of the companies that have announced layoffs.

Salesforce

Salesforce Inc.

CRM 4.76%

said last week it would cut 10% of its staff. Salesforce Co-Chief Executive

Marc Benioff

said the company overhired at the start of the pandemic and now faced sluggish demand from customers who were cutting back on spending. 

Goldman Sachs

Goldman Sachs

GS 1.60%

Group Inc. plans to cut 3,200 jobs starting this week. Goldman and other Wall Street banks are curbing expenses to offset declines in deal-making revenue. Goldman’s executives have been planning since at least December to slash thousands of jobs.

Amazon

Amazon.

AMZN 1.79%

com Inc. is laying off more than 18,000 employees concentrated in its corporate ranks. The company said last year it was planning job reductions after more customers began returning to bricks-and-mortar stores and have begun spending less money online. 

Stitch Fix

Stitch Fix Inc.

SFIX 6.59%

said it is trimming 20% of the company’s salaried jobs. The company, which provides personalized shipments of apparel, shoes and accessories, has been facing a sales downturn. The San Francisco-based company said

Elizabeth Spaulding

would resign as chief executive after spending less than 18 months in the role. The company’s founder is returning to lead the company.

Vimeo

Vimeo Inc.,

VMEO 2.96%

a video-sharing platform, said it would lay off 11% of its staff. The company said it was making the cuts amid slowing economic growth, including high interest rates and global recession fears.

McDonald’s

McDonald’s Corp.

MCD -0.79%

said it was planning to make “difficult” decisions about changes to corporate staffing levels. The fast-food company said it would trim or reorganize corporate staff, even as it plans to expand its business globally. The CEO said he expects to save money from the staffing changes but doesn’t have a set number of jobs he’s looking to cut.

Write to Joseph De Avila at [email protected]

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8