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Accenture layoffs 2022

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It represents our collection of specialized talent, data and insights, and digital assets that are enabled to deliver business outcomes at speed and scale. The job cuts in tech land are piling up, as companies that led the year stock bull market adapt to a new reality. Days after Twitter's new boss Elon Musk slashed half his company's workforce, Facebook parent Meta announced its most significant round of layoffs ever.

Last month, Meta announced a second straight quarter of declining revenue and forecast another drop in the fourth quarter.

Digital advertisers are cutting back on spending as rising inflation curbs consumer spending, and apps like Facebook are suffering from Apple's iOS privacy update, which limited ad targeting.

The tech industry broadly has seen a string of layoffs in in the face of uncertain economic conditions. Here are the big ones that have been announced recently. Meta 's disappointing guidance for the fourth quarter wiped out one-fourth of the company's market cap and pushed the stock to its lowest since The business has been hurt by competition from rivals such as TikTok, a broad slowdown in online ad spending and challenges from Apple's iOS changes.

In a letter to employees , Zuckerberg said those losing their jobs will receive 16 weeks of pay plus two additional weeks for every year of service. Meta will cover health insurance for six months. That's about half the staff. In a post on Nov. In a letter to employees, CEO Logan Green and President John Zimmer pointed to "a probable recession sometime in the next year" and rising rideshare insurance costs.

For laid-off workers, the ride-hailing company promised 10 weeks of pay, healthcare coverage through the end of April, accelerated equity vesting for the Nov. Workers who had been there for more than four years will get an extra four weeks of pay, they added. CEO Patrick Collison wrote in a memo to staff that the cuts were necessary amid rising inflation, fears of a looming recession, higher interest rates, energy shocks, tighter investment budgets and sparser startup funding.

Taken together, these factors signal "that represents the beginning of a different economic climate," he said. Stripe said it will pay 14 weeks of severance for all departing employees, and more for those with longer tenure. It will also pay the cash equivalent of six months of existing healthcare premiums or healthcare continuation.

Coinbase CEO Brian Armstrong pointed to a possible recession, a need to manage costs and growing "too quickly" during a bull market. Those laid off received a minimum of 14 weeks of severance plus an additional 2 weeks for every year of employment beyond one year.