In Pics | Companies that announced major layoffs in 2022

Twitter is the latest multinational company to fire its employees. 2022 has been a very rough phase for private companies and their employees. Many giants have deferred appraisals and downsized their workforce in a bid to restructure and reorganise. Here we list some of the major layoffs announced by leading companies in 2022.

Twitter's new owner Elon Musk plans to cut about 3,700 jobs or half of the company's workforce in a bid to cut costs. Credit: Twitter

Property-selling platform Opendoor Technologies Inc announced that they are laying off about 550 employees on November 02.

Byju's, India's largest education technology company, with a valuation north of $22 billion, went into a cost-cutting mode and decided to lay off nearly 12,000, a quarter of its total workforce over the next year. Credit: Bloomberg

International Distributions Services, the parent firm of the British Royal Mail, decided to lay off 10,000 jobs by August 2023, the reason being ongoing strike action and rising losses in the logistics business. Credit: Instagram/@royalmailofficial

In October 2022, tech giant Philips announced to cut 4,000 jobs as the company faces 'multiple challenges' which was reflected in its Q3 earnings. New Philips CEO Roy Jakobs said the move to improve productivity and agility 'includes the difficult, but necessary decision to immediately reduce our workforce by around 4,000 roles globally, which we do not take lightly and will implement with respect towards impacted colleagues'. Credit: AFP Photo

In October 2022, hard drive maker Seagate Technology announced their plans to lay off nearly 3000 employees as part of a restructuring plan to save $110 million per year. Credit: AFP Photo

Microsoft has laid off its employees in its third round of Layoff Execution since July this year. While the tech giant has not yet disclosed the number of employees, United States news website Axios reported that nearly 1,000 employees were laid off by Microsoft. The report also stated that employees at various levels and teams around the world were given pink slips. Credit: Reuters Photo

Unacademy, one of the famous unicorns in the edtech industry. has laid off nearly 200 employees in the past couple of days. The company has laid off 10 per cent of its 6000-strong workforce in 2022. Credit: Twitter/@unacademy

American worldwide clothing and accessories retailer GAP Inc has laid off 500 employees in its San Francisco and New York offices, one of the latest layoffs in the corporate sector in 2022. Credit: AFP Photo

Multinational ridesharing company Ola has been cutting jobs and postponing the appraisal of the employees in a bid to tighten the funding environment globally. Reportedly, Over 500 employees were laid off during the restructuring process in 2022. Credit: Reuters Photo

Ford Motors, an American multinational automobile company, laid off 3000 employees and contract workers across the globe in the restructuring process. Credit: Reuters Photo