Layoffs 'do not reflect on our employees' dedication and hard work,' spokesperson said
General Electric has joined the growing list of American employers reducing headcount ahead of an anticipated recession.
The Boston-based conglomerate is laying off 20% of its onshore wind workforce in the United States, which equates to hundreds of jobs, CNBC reported.
“We are taking steps to streamline and size our onshore wind business for market realities to position us for future success. These are difficult decisions, which do not reflect on our employees’ dedication and hard work but are needed to ensure the business can compete and improve profitability over time,” a spokesperson for GE Renewable Energy told CNBC.
Major brands throughout the United States, especially in California, have been trimming their workforces ahead of an economic downturn. Last week, DocuSign announced it will lay off 9% of its workforce as part of a major restructuring plan, according to an SEC filing. Meanwhile, Gap Inc. plans to cut about 500 corporate jobs in San Francisco, New York and Asia, the Wall Street Journal reported.
Meta (formerly Facebook) is giving many of its 83,553 employees a month to apply for different positions within the company, the Wall Street Journal also reported. Similarly, Google has informed about 50 employees (roughly half of those employed at the firm’s startup incubator Area 120) they need to find a new internal role within three months if they want to remain employed.
Twilio announced it would lay off 11% of its workforce as part of a major restructuring plan, according to an SEC filing. That same week, Patreon CEO Jack Conte announced in a blog post that the company had laid off 17% of its workforce.
In August, Snap Inc, parent company of Snapchat, planned to lay off approximately 20% of its more than 6,400 employees, which comes out to roughly 1,280 people, The Verge reported. Apple laid off roughly 100 contract-based recruiters one month after announcing plans to slow down hiring. Calm.com has also laid off 20% of its staff, The Wall Street Journal reported.
Sweetgreen announced 5% of its support center workforce will be laid off, CNBC reported. Additionally, the company is downsizing to a smaller office building to lower its operating expenses. Groupon also laid off more than 500 employees, about 15% of its workforce, TechCrunch reported. The merchant development, sales, recruiting, engineering, product and marketing teams were all impacted.
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Fender laid off roughly 300 employees, ranging from senior management to production line workers, have been laid off, Guitar.com reported. That followed Robinhood announcing plans to lay off 23% of its workforce. In April, the Menlo Park, CA-based company reduced its headcount by 9% after company shares hit a new low, CNN Business reported.
More than 650 startups and tech firms have laid off more than 110,000 people in 2022, according to Blind’s tech layoffs tracker.
General Electric informed employees of the layoffs one day before Peloton CEO Barry McCarthy told CNBC that 500 jobs will be cut – about 12% of the New York City-based company’s workforce – in the fourth round of layoffs at the fitness equipment manufacturer this year.
Meanwhile, Lyft has implemented a hiring freeze and Amazon has paused hiring for corporate roles in its retail business, The New York Times reported.