Tech layoffs continue as major companies cut thousands of jobs

Several prominent tech companies have announced significant layoffs in recent days, marking a tough start to May for the industry. Despite being early in the month, the wave of job cuts is already affecting thousands across the sector.

Panasonic Holdings

Japanese electronics giant Panasonic Holdings, founded over a century ago, announced on May 9 that it will cut 10,000 jobs, or roughly 4% of its global workforce.

CEO Yuki Kusumi stated the move is part of a broader effort to prepare the company for the next decade, by scaling down unprofitable sectors such as TVs and industrial products, and shifting focus toward growth areas like artificial intelligence.

Kusumi expressed regret over the decision but said bold action was needed to reduce fixed costs and reignite growth. The job cuts are expected to be split evenly, with 5,000 in Japan and 5,000 overseas, though it is unclear how many US roles will be affected.

Match Group

The parent company of dating apps Tinder and Hinge plans to lay off 13% of its workforce. With roughly 2,500 full-time employees in 2024, the move affects approximately 325 jobs.

CEO Spencer Rascoff, who took over earlier this year, made the announcement during the Q1 2025 earnings report on May 8. Rascoff has previously acknowledged that Gen Z users are growing tired of dating apps, which often feel more like games than tools for meaningful connection.

Bloomberg reports that one in five managers will be affected. Rascoff said the layoffs are intended to help the company accelerate product development and drive future growth.

Google

Google has reportedly laid off 200 employees in its global business organization, which oversees partnerships and sales, according to The Information.

A company spokesperson told Reuters the move was part of a team restructuring aimed at improving collaboration and customer service efficiency.

CrowdStrike

Cybersecurity firm CrowdStrike, based in Austin, Texas, announced on May 7 that it would reduce its workforce by 500 jobs, or 5% of its staff. As of January 2025, the company had over 10,000 employees.

CEO George Kurtz said the decision was made to enhance operational agility and maintain leadership in cybersecurity. The Wall Street Journal reports this comes after a major incident last year in which a software bug caused millions of Windows PCs to crash.

Symbotic

Automation company Symbotic, based in Wilmington, Massachusetts, is laying off 400 employees from a robotics division it acquired from Walmart earlier this year, according to The Boston Globe on May 3.

The layoffs, effective June 27, are part of an operational review to streamline its structure and better position the company for long-term growth.

PwC Layoffs Extend Beyond Tech

Outside the tech sector, PricewaterhouseCoopers (PwC) announced this week it will cut 1,500 jobs in the U.S.—about 2% of its 75,000-strong American workforce—as part of a cost-cutting strategy.

Layoffs in Tech Keep Rising in 2025

These recent announcements push total tech industry layoffs in 2025 to 52,340 employees across 123 companies, according to data from Layoffs.fyi.

While substantial, the number remains below the totals from previous years:

152,922 in 2024

264,220 in 2023

165,269 in 2022

Nonetheless, the trend underscores continued volatility in the tech job market amid shifting priorities, cost pressures, and evolving technologies