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Information Technology : IT Services |
Company profile

BrightStar Information Technology Group, Inc. is a wireless distributor and offers diversified services for the wireless industry. The Company’s supply chain solutions include device strategy and ranging, strategic sourcing, new product introduction, supply chain management, product lifecycle management, channel operations and reverse logistics and after-sales service. Device insurance and protection solutions include device insurance, device warranty, remote technical support and device mobile security. Omnichannel solutions include POS commerce, E-commerce, analytics and virtual inventory. Financial solutions include accessory financing, forward price commitment, corporate leasing solutions, consumer plans and device installment billing. Mobile digital solutions include music, mobile advertising, mobile security, apps distribution and video.

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More than 199,000 tech-sector employees have lost their jobs since the start of 2023

2:25 pm ET May 26, 2023 (MarketWatch)

By James Rogers

2023 has surpassed 2022 for global tech layoffs, according to data compiled by the website

More than 199,000 global technology-sector employees have been laid off since the start of 2023, according to data compiled by the website

The website's tally of 2023 global tech layoffs has gone up almost eightfold since mid-January.

The data show that 2023 has surpassed 2022 for global tech redundancies, with 714 tech companies laying off 199,759 employees since the start of the year. Last year, 1,024 tech companies laid off a total of 154,336 employees, according to

Now read:Meta begins third round of layoffs: reports

Chinese tech giant Alibaba Group Holding Ltd.'s (9988.HK) cloud unit has started cutting 7% of staff, Barron's reported this week, citing a source familiar with the matter. News of the job cuts was first reported by Bloomberg. MarketWatch has reached out to Alibaba with a request for comment.

Facebook parent Meta Platforms Inc. (META) has started its latest round of layoffs, according to reports, marking the tech giant's third round of cuts this year. Meta declined to comment in response to a request from MarketWatch for confirmation of the latest layoffs.

Meta began a second round of layoffs in April, cutting technical positions, according to LinkedIn posts. Meta is in the midst of cutting 21,000 jobs in 2023 as part of what CEO Mark Zuckerberg has described as a "year of efficiency" for the company.

Related: Meta begins cutting technical jobs in latest round of layoffs

"So far we've gone through two of the three waves of restructuring and layoffs that we had planned for this year -- in our recruiting and technical groups," Zuckerberg said during an April 26 conference call to discuss the company's first-quarter results. "In May we're going to carry out our third wave across our business groups."

Other big-name tech companies have also been making cuts. In early May, Microsoft Corp. (MSFT)-owned LinkedIn announced plans to cut its workforce by more than 700 employees. The company is also getting rid of its local jobs app in China. "As we guide LinkedIn through this rapidly changing landscape, we are making changes to our Global Business Organization (GBO) and our China strategy that will result in a reduction of roles for 716 employees," LinkedIn CEO Ryan Roslansky wrote in a May 8 email to the company's employees that was also posted on the company's website.

Related: Meta set for next round of layoffs

"We'll focus our China strategy on assisting companies operating in China to hire, market, and train abroad," he added. "This will involve maintaining our Talent, Marketing, and Learning businesses, while phasing out InCareer, our local jobs app in China, by August 9, 2023."

The CEO explained that, while InCareer has experienced some success in China, it "also encountered fierce competition and a challenging macroeconomic climate."

LinkedIn has more than 19,000 employees, according to its website.

Related: LinkedIn to lay off 700 workers and shut down its China app Inc. (AMZN) conducted layoffs in Amazon Web Services and in its human-resources department, the company said in late April.

And in March, Electronic Arts Inc. (EA) announced its intention to slash 6% of its workforce as the videogame publisher looks to cut costs. Streaming-media company Roku Inc. (ROKU) also disclosed that it would lay off 200 employees as part of a cost-cutting plan.

A host of tech companies, including Inc., Palantir Technologies Inc. (PLTR), Twilio Inc. (TWLO), DocuSign Inc. (DOCU), Salesforce Inc. (CRM), SAP (SAP.XE), Zoom Video Communications Inc. (ZM), eBay Inc. (EBAY), Dell Technologies Inc. (DELL), PayPal Holdings Inc. (PYPL), International Business Machines Corp. (IBM), Intel Corp. (INTC), Microsoft Corp. (MSFT), Spotify Technology (SPOT) and Google parent Alphabet Inc. (GOOGL) (GOOGL), have also announced job cuts in 2023.

Related: Tech layoffs roll on as Meta and Amazon make cuts

Since Elon Musk took control of Twitter last year, the San Francisco-based company has also made significant layoffs. In March, Musk described laying off almost 6,500 people, or 80% of the company's workforce, as "painful" and "one of the hardest things" he has had to do. Twitter's headcount now stands at 1,500 people, according to Musk.

Additional reporting by Emily Bary, Jon Swartz and Anviksha Patel.

-James Rogers

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.


(END) Dow Jones Newswires

May 26, 2023 14:25 ET (18:25 GMT)

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