MarketWatch First Take: Palantir joins growing list of tech companies announcing layoffs

by | Feb 27, 2023 | Stock Market

Palantir Technologies Inc. has joined Twilio, Zoom, eBay, Okta, Splunk, PayPal, IBM, SAP, Spotify, Alphabet, Intel, Microsoft, Coinbase, Cisco, Amazon, Salesforce, HP, Roku, Beyond Meat, Meta and Twitter in announcing major layoffs in recent months. More than 119,000 global technology-sector employees have been laid off since the start of 2023, according to data compiled by the website

Here’s a look at the list of big names across a number of sectors that have been cutting back their workforces. Palantir Data-analytics company Palantir
is planning to cut less than 2% of its workforce, part of the latest round of technology layoffs. Related: Palantir to cut less than 2% of staff as tech layoffs continue “We believe our company is at an inflection point and to continue to evolve, we are making the tough choice of reducing teams in several areas,” a Palantir spokesperson told MarketWatch. “While less than 2% of our workforce is impacted by these changes, these are incredibly painful decisions but the right ones for the company’s future.” According to its most recent 10-K filing with the Securities and Exchange Commission, the software company had 3,838 employees as of Dec. 31. Twilio Communications-software company Twilio Inc. 
disclosed in mid-February that it will lay off about 17% of its workforce. Based on the company’s latest annual report, that would suggest that more than 1,300 employees will be laid off. The layoffs come amid a restructuring effort at Twilio. In a letter to employees, Twilio CEO Jeff Lawson said the company was forming two business units, Twilio Communications and Twilio Data and Applications. “When we look at these two business units on their own, it’s clear that we’ve gotten too big, especial …

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