Tech layoffs update May 2025: Panasonic, Match Group, CrowdStrike, among latest to cut jobs
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May has only just begun, but already, it has not been a good month for the tech industry in terms of layoffs. Since the month started, several prominent names in technology have announced layoffs, some involving a significant number of workers. Here are the companies involved in the latest round of tech layoffs
Panasonic Holdings
The iconic Japanese electronics giant, founded over a century ago, announced on May 9 that it would eliminate 10,000 jobs. That reduction equates to about 4% of Panasonic's total workforce, reports Bloomberg.
According to Panasonic CEO Yuki Kusumi, the cuts are to better prepare the electronics maker for the next few decades. The company will reportedly trim back operations in non-growth areas like televisions and industrial products in order to concentrate on other areas, including artificial intelligence (AI).
On an earnings call, Kusumi addressed the cuts, saying he was 'truly sorry,' adding, 'if we don't make drastic cuts to our fixed cost structure, we won't be able to chase growth again.'
Of the planned cuts, 5,000 jobs are expected to be lost in Japan, while the other 5,000 jobs will be cut overseas. It is unknown how many American jobs will be lost in the cuts.
Match Group
The owner of the world's most popular dating apps, including Tinder and Hinge, has announced it will cut 13% of its staff. As noted by Bloomberg, in 2024, Match employed about 2,500 full-time, which means that the company will be cutting around 325 individuals.
Match Group's new CEO, Spencer Rascof, announced the cuts when reporting the company's Q1 2025 results yesterday, May 8. In recent years, younger generations, particularly Gen Z, have begun to sour on dating apps, a trend that Rascof addressed in March, a month after becoming Match Group's new CEO.
'Too often, our apps have felt like a numbers game rather than a place to build real connections, leaving people with the false impression that we prioritize metrics over experience,' he said in a letter to employees. 'That needs to change.'
Bloomberg says the cuts will see one out of every five managers be let go at Match and quotes Rascof as saying the aim of the cuts is to help the company focus on 'product velocity' to drive growth.
Google
Search giant Google is also reportedly seeing tech layoffs, letting go of 200 workers in its global business unit, reports The Information. The global business unit handles partnerships and sales at the company.
A company spokesperson told Reuters that the cuts were being made as part of some changes across its teams that are designed 'to drive greater collaboration and expand our ability to quickly and effectively serve our customers.'
CrowdStrike
The cybersecurity company CrowdStrike said on May 7 that it will cut about 500 jobs, equating to about 5% of its total workforce. The Austin, Texas-based company employed just over 10,000 people as of January 2025.
CrowdStrike's CEO, George Kurtz, said the job cuts will position the company 'to move faster, operate more efficiently, and continue our cybersecurity leadership,' according to the Wall Street Journal.
CrowdStrike was a little-known name outside of the cybersecurity industry until last year, when a bug in its software temporarily made millions of Windows PCs worldwide unusable.
Symbotic
The warehouse automation company based in Wilmington, Massachusetts, announced that it will lay off 400 workers from the robotics unit it purchased from Walmart in January, reported the Boston Globe on May 3.
'While decisions like these are always difficult, we made them following a thorough post-close review of our operations to ensure we are best positioned for the future with an effective structure to continue executing our long-term growth strategy,' the company said in a statement to the Globe.
The layoffs will take place on June 27.
Tech isn't the only industry facing layoffs
While not a tech company, it's worth mentioning that accounting giant PricewaterhouseCoopers, better known as PwC, announced earlier this week that it was laying off about 1,500 employees in the United States.
That represents about 2% of its 75,000-strong workforce in America. The move is reportedly being made to cut costs.
Tech layoffs mount in 2025
With these latest May tech layoffs, the total number of tech industry layoffs in 2025 has now reached 52,340, according to data compiled by Layoffs.fyi. Those layoffs have occurred at 123 companies.
However, those layoff numbers are still well below the 152,922 laid off in 2024; the 264,220 laid off in 2023; and the 165,269 laid off in 2022.
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