Layoff Tsunami: Splunk And Condé Nast To Layoff Hundreds Of Workers

Layoff tsunami continues to affect employees. The large-scale workforce reductions are aimed at reducing costs. Various companies have already fired workers in major cost-cutting measures.

Which are the latest companies to fire workers? How many employees are impacted by the latest round of layoff? Which companies will layoff more workers in the future?

Layoff tsunami

Splunk layoff

Splunk, an American software company based in San Francisco, will lay off around 560 employees, marking the latest in a series of layoffs at U.S. tech companies. Splunk is cutting about 7% of its global workforce. The company aims to reduce costs in an uncertain macroeconomic environment.

Condé Nast layoff

Condé Nast, a global mass media company, has planned to cut hundreds of jobs, marking the latest in a series of layoffs at U.S. media companies. The company will cut about 5% of its workforce in the coming months. 

In October, the company said that Agnes Chu, the head of Condé Nast Entertainment, would leave the company. More employees can lose their jobs by the end of 2023. 

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Liberty Mutual layoff

Liberty Mutual, an American diversified global insurance company, is set to lay off employees. Liberty Mutual will lay off 850 employees. The upcoming layoff will affect 2% of the company’s U.S. workforce. A Liberty Mutual spokesman has also confirmed the layoff, which is a part of a “multi-year transformation.” Previously, the company fired 370 employees.

Nokia layoff

Nokia, a Finnish multinational telecommunications company, is set to lay off 14,000 workers. The layoffs are aimed at reducing its workforce from 86,000 global employees to between 72,000 and 77,000 workers.

LinkedIn layoff

LinkedIn, a business and employment-focused social media platform, will also lay off workers. LinkedIn is set to lay off 668 workers. The layoff will affect engineering, product, talent and finance teams.

Microsoft-owned LinkedIn will layoff 137 workers from the Engineering management team and 38 workers from the Product team. Around 368 workers will be laid off from the Engineering team. The company said that around 563 workers will be laid off across the R & D.