Job cuts in media and tech industries sweep across the U.S.
Media and tech job cuts due to uncertainty, impacting millions, with companies cutting costs.
The coronavirus pandemic has caused massive job losses across the media and tech industries, with many companies announcing layoffs to cope with the economic uncertainty.
In the media industry, major companies such as Warner Bros. Discovery, Disney, Morning Brew, Vice Media, Gannett, Adweek, Vox Media, Fandom, NBC News, MSNBC, and The Washington Post have all announced layoffs. These cuts have affected thousands of employees, with some companies cutting up to 10% of their workforce.
The tech industry has also been affected, with companies such as Spotify, Google, Microsoft, Salesforce, Amazon, Coinbase, Vimeo, and Twitter announcing layoffs. These companies have cut a combined total of nearly 50,000 tech workers in January alone.
In addition to job cuts, many companies have implemented other cost-cutting measures. For example, Vice Media CEO Nancy Dubac announced plans to cut costs by up to 15%, while NPR canceled its summer internship program in an attempt to make $10 million in budget cuts.
The economic uncertainty caused by the pandemic has had a devastating impact on both the media and tech industries, with companies having to make difficult decisions to ensure their survival. These job losses have been a major blow to millions of people, who are now facing an uncertain future.
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