2023: Big Techs Will Spend Over $4.7 Billion to Lay Off Employees and Further Cut Some Costs

Written by Bruno Teles

Published on 06/02/2023 at 17:41

Big Techs (Foto/divulgação)

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All Layoffs in Big Tech Aim for Cost Cuts, but They Will Still Impact Finances. According to this survey conducted by Bloomberg, all expenses related to employee layoffs and also severance payments that will be made by Amazon, Meta, Alphabet, and Microsoft may still reach around US$ 4.7 billion.

This survey took into account information regarding the other costs of layoffs published in various recent reports from Big Techs.

In the case of Meta, for example, owner of Facebook, the severances totaled an expense of around US$ 975 million with a cut of 11,000 employees in the fourth quarter of 2022.

According to the company, part of the amount will still be offset in the coming months with “reduction in payroll, bonuses, and other benefit expenses.”

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Google Announces Layoff of 12,000 Employees

In January, the company announced a layoff of more than 10,000 employees, but has not yet revealed the amount it should take from its finances.

According to Amazon, its severance package expenses totaled US$ 640 million in the fourth quarter of 2022. At the beginning of January, the big tech announced that it would lay off around 18,000 employees across all its divisions worldwide.

Finally, the parent company of Google, Alphabet, estimates that its layoff package costs will range from US$ 1.9 billion to US$ 2.3 billion. CEO Sundar Pichai announced the layoff of about 12,000 employees, which represents 6% of its total global workforce, in mid-January.

2023: Big Techs Will Spend Over $4.7 Billion to Lay Off Employees and Further Cut Some Costs

All Layoffs in Big Tech Aim for Cost Cuts, but They Will Still Impact Finances. According to this survey conducted by Bloomberg, all expenses related to employee layoffs and also severance payments that will be made by Amazon, Meta, Alphabet, and Microsoft may still reach around US$ 4.7 billion.

Google Announces Layoff of 12,000 Employees

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A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

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The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

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Far from football, São Paulo idol and former national team player becomes a wine producer in Italy, transforms the nickname “Prophet” into his own brand, and now runs a winery, restaurant, and hotel in Piedmont.

Train of up to 111 tons leaves China for Brazil, crosses almost 20,000 km in up to 70 days by ship, and arrives in São Paulo in such a tight operation that a truck even had to deflate its tires to pass under a viaduct.

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2023: Big Techs Will Spend Over $4.7 Billion to Lay Off Employees and Further Cut Some Costs

All Layoffs in Big Tech Aim for Cost Cuts, but They Will Still Impact Finances. According to this survey conducted by Bloomberg, all expenses related to employee layoffs and also severance payments that will be made by Amazon, Meta, Alphabet, and Microsoft may still reach around US$ 4.7 billion.

Google Announces Layoff of 12,000 Employees

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

Lula says that the Brazilian naval industry will “thrash” China and Korea, while the government announces billions for barges, pushers, and a new hydro terminal in the Amazon.

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Lula says that the Brazilian naval industry will “thrash” China and Korea, while the government announces billions for barges, pushers, and a new hydro terminal in the Amazon.

Far from football, São Paulo idol and former national team player becomes a wine producer in Italy, transforms the nickname “Prophet” into his own brand, and now runs a winery, restaurant, and hotel in Piedmont.

Train of up to 111 tons leaves China for Brazil, crosses almost 20,000 km in up to 70 days by ship, and arrives in São Paulo in such a tight operation that a truck even had to deflate its tires to pass under a viaduct.

The race of humanoid robots in factories has truly begun, Hyundai announced that it will deploy more than 25,000 units of Atlas in its production lines starting in 2028, in a partnership that involves Boston Dynamics and training with Google DeepMind.