Big Tech Layoffs 2023

Apple hasn’t announced any layoffs. I think they’re going to have a bad earnings report too, if Samsung was this awful.

Apple highroaded this one and trimmed budgets by slashing CEO pay by about ~$40M instead instead of reducing headcount:

Which is only about 250 employees’ worth of total compensation, so if they’re genuinely hurting on the same level that companies nixing staff 10k at a time claim to be, I imagine that layoffs will follow for Apple, too.

Wow… is Tim Cook a good guy? But he’s a capitalist. My world view is being challenged.

He’s worth $1.8 billion, so no.

“I will only take $50 million a year in comp to add to my $1.8 billion fortune” is such a sacrifice. How many would make it?

Phew thanks guys. Eat the rich!


Word getting out that REI axed about 8% of their HQ staff in Seattle.

I mean, if you’d just give them their 475$ back they may not have to lay off so many people…

1900 more gone from Salesforce

Should be the last wave… Today was a lot of sales

Apple, Alphabet, and Amazon all had earning reports today.

Amazon lost money for the first time in a decade. The other two also dropped in revenue.

Increasing the price of Amazon Prime made a lot of people just cancel it and buy less shit imo.

“Hey this thing that you use to pay us money? It costs $20 more.”
“You know what, money is tight. I’m gonna have to pass for now.”
8 months later : “I’ve bought like 12 things in the last year from Amazon instead of 135 things.”

Your reminder that neither the tech sector nor the stock market equals the economy:

+517,000 new non-farm jobs in January (estimate: 187,000)
Unemployment falls to 3.4%, the lowest rate since 1969.

Amazon took a double hit. One from the big pile of money they (unwisely) invested in EV startup Rivian. Which is now struggling. Two from the general IT spend contraction happening right now as the pandemic tech exuberance wears off. Their core business of selling cheap knockoff crap through their website was actually up 9%. I’m not worried about Amazon.

I thought AWS was the core business? Not being cheeky or anything, my understanding was that where all the money was, not the store. Was I misinformed?

It definitely has worsened over the years, especially with the addition of 3rd party sellers, and that mixing in directly with Amazon so you have always have to remember to be aware of who the seller is.