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June 2023 layoffs: Ford, KPMG and Spotify among companies cutting jobs

By Nithya Bose in UK Employment news, posted July 5, 2023

Layoffs have been on a declining trend, with a peak of 89,554 tech job cuts in January, reducing to 10,434 in June, according to Layoffs.fyi report.

The tech sector remains at the forefront, accounting for most job losses, with 824 companies shedding workers this year.

Having conducted sweeping cuts since the pandemic, Google downsized teams at its subsidiary, Waze.

The June layoffs primarily affected tech firms, including Spotify, Reddit, Oracle, Sumo Logic, and Qualcomm.

Tech hiring surged in 2020 and continued into 2021, when the Federal Reserve slashed interest rates.

However, in early 2022, both trends reversed, leading to widespread layoffs as tech companies tightened their budgets.

June saw food delivery and ride-hailing companies such as Uber, Grubhub, and Grab downsizing their staff.

KPMG, the accounting giant, implemented the largest cuts this month, impacting 1,950 US jobs, equivalent to 5 percent of its workforce.

Ford Motors cut 1,000 North American employees, following previous layoffs of 1,300 in February and 3,200 in January, primarily affecting its European staff.

Niantic, the developer of Pokemon Go, joined the list of companies announcing downsizing in June.

Employers continue to push in-person work as Google starts considering office attendance records for performance reviews.

When Google demanded hybrid work, with three days in the office, Infosys made a new rule banning work from home for US and Canadian employees.

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Here’s who’s firing in June 2023.