Comment The cuts are expected to be the e-commerce giant’s biggest round of layoffs in its history, marking a major turnaround for the company that has hired aggressively over the past decade. In recent weeks, Twitter, Salesforce, Facebook parent Meta and other tech companies have announced major layoffs or hiring freezes, following months of warning signs such as tech startups struggling to raise capital. Dan Ives, an economic analyst at Wedbush Securities, told the Washington Post on Monday that the layoffs could signal an impending recession. Tech companies, he said, were “significantly inflated and not set up for a softer economy as we see it.” Meta cut 11,000 jobs, or 13% of its workforce, last week. Ride-hailing service Lyft also shed 13 percent of its staff. Fintech company Stripe and real estate marketplace Zillow have also announced layoffs since October. Earlier this month, Twitter CEO Elon Musk cut half of his company’s staff shortly after acquiring the social network. Twitter cuts staff as Musk era begins It wasn’t a surprise, as Dean said she saw the signs in August as the software engineering openings she was tasked with filling dwindled.
