November 16, 2022
Could cloud layoffs be about to happen en masse? After several disappointing earnings reports coming from cloud computing providers, and in the wider tech space, job losses have begun. So far, Oracle Cloud, Salesforce, SADA and Tencent all have enacted cloud layoffs. Facebook parent Meta last week shed thousands of jobs, while Amazon reportedly is about to cut 10,000 employees (go to the slideshow above to find out whether Amazon Web Services is impacted).
Keep up with our telecom-IT layoff tracker to see which companies are cutting jobs and the ensuing channel impact.
According to Layoffs.fyi, 789 tech companies have laid off 121,413 employees so far this year. The cuts are coming in the wake of COVID-era overhiring. Even as the pandemic started to wane last year, and even as supply chain problems, high energy costs and inflation pointed to a recession, companies kept adding people. Now their staff — seemingly not the executives who failed to plan — are paying the piper.
More cloud layoffs could be in the offing as organizations pull back on, and optimize, cloud spending. Once considered untouchable, cloud is proving just as vulnerable to recessionary fears as any other technology. Click through the slideshow above for more insight.
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