Big Tech Layoffs 2023

Yea I don’t know why they don’t just sell? Their lens comparison tool was awesome. Although reading between the lines maybe they’ve been trying to find buyers since the beginning of the year.

That didn’t take long.

Not strictly tech, but Disney letting a bunch of folks go.

Dear Fellow Employees,

As I shared with you in February, we have made the difficult decision to reduce our overall workforce by approximately 7,000 jobs as part of a strategic realignment of the company, including important cost-saving measures necessary for creating a more effective, coordinated and streamlined approach to our business. Over the past few months, senior leaders have been working closely with HR to assess their operational needs, and I want to give you an update on those efforts.

This week, we begin notifying employees whose positions are impacted by the company’s workforce reductions. Leaders will be communicating the news directly to the first group of impacted employees over the next four days. A second, larger round of notifications will happen in April with several thousand more staff reductions, and we expect to commence the final round of notifications before the beginning of the summer to reach our 7,000-job target.

The difficult reality of many colleagues and friends leaving Disney is not something we take lightly. This company is home to the most talented and dedicated employees in the world, and so many of you bring a lifelong passion for Disney to your work here. That’s part of what makes working at Disney so special. It also makes it all the more difficult to say goodbye to wonderful people we care about. I want to offer my sincere thanks and appreciation to every departing employee for your numerous contributions and your devotion to this beloved company.

For our employees who aren’t impacted, I want to acknowledge that there will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward. I ask for your continued understanding and collaboration during this time.

In tough moments, we must always do what is required to ensure Disney can continue delivering exceptional entertainment to audiences and guests around the world – now, and long into the future. Please know that our HR partners and leaders are committed to creating a supportive and smooth process every step of the way.

I want to thank each of you again for all your many achievements here at The Walt Disney Company.

Sincerely,

Bob

i.e get ready for more work to get dumped on your desk.

Disney will lay off these 7,000 employees and replace them with contractors getting paid $100-150/hr in some departments. It’s pretty much their standard MO. Got to love how it’ll happen in waves too, so if you survive the first round of cuts, you have to be anxious & nervous until April, then again before summer begins. A fun psychological mindfuck, courtesy of Iger and the other immensely wealthy shits making these tough decisions.

Couple of people I know got laid off at Microsoft today. Another 560 or so today in WA, which was not expected by the employees apparently. Tons of people with 15-30 years of experience. Looks like they are getting rid of expensive employees. Not worth the money to keep institutional knowledge I guess.

I’ve been assured that AI chatbots can provide all the institutional knowledge that is required.

I’m one of those waiting to find out if I’m on the list for the Disney layoffs. I read my area is in the big round in April. So yeah lots of stress.

I’m really sorry to hear that. I’ve been through the “layoff waiting list” experience and wouldn’t wish it on anybody.

I used to spend those interminable weeks composing my farewell letter in drafts, and making sure any personal data was saved… since I had to much nervous energy to work and they had the lists already finalized anyway…

Yeah, back in 2003 I was RIFfed in the third round of layoffs at a network provider. The months leading up and through those was just masive stress and tears throughout the company.

Sorry to hear & hope everything works out on your end, whatever happens. Are you in any sort of accounting role? I still know a few scattered people around Disney from my time there.

I’m on the operations side for the media networks. Wish I was an accountant then I’d have more job options.

We had a 3% reduction.

They announced on Friday and did it on Tuesday. It was nice to have the band aid ripped off.

I had a big target on my back (old, highly paid) but I survived.

I’m sure 3% was not enough though, I expect a second round this summer around our fiscal year end.

Best of luck, in the medium and long run I am sure it’ll all be fine whatever happens. It takes alot of guts to keep your eye on the ball with something like this looming overhead, but if anyone can do it you can!

There is no speech greater than the speech that goes you guys are terrific employees and things are going really great for our very strong company and that’s why we are firing you.

Salesforce just executed another round of layoffs. I now have 4 sales reps and zero customer success/support personnel.

Neat

I forget where I read this sentiment, and I’m paraphrasing, but it seems reasonable to me:

Unless there’s an obvious necessity for them, stock buybacks are a signal that the board is out of ideas to utilize capital and layoffs are a signal that the CEO doesn’t have any ideas to utilize employees. Both are failures of leadership.

In my experience, this is spot on.