About 20% of US companies plan to cut staff

Mass layoffs in US companies will continue in 2023 amid fears of a slowdown in global economic growth. For the first time since 2020, about 20% of US companies are going to cut staff. At the same time, a third of US companies said they did not plan to hire new employees.

The main reason for the dismissal is a decrease in profits and profitability of companies due to higher interest rates amid high inflation.

Many major US tech corporations have announced planned cuts, including Google, Coinbase, Alphabet, Microsoft, Salesforce, Twitter, Spotify, and others. Among the technology giants, only Apple is not planning to lay off employees so far.