Many businesses utilize the large platform of Facebook to advertise their products on a massive scale. According to reports, approximately $115 billion is spent on advertising by many companies, with all of it being spent across Meta (previously known as Facebook) platforms.
Meta Business Suite is a great tool for businesses to make it easy to manage all their business-related activities. This tool makes it effortless to handle all your comments, direct messages (DMs), ads, etc.
In this article, we will cover what Meta Business Suite is and how to use it so that you manage your business account smoothly.
Global Annual Advertising Revenue of Meta Platforms
What is the Meta Business Suite? (Formerly known as Facebook Business Suite)
Meta is the parent company that oversees various social media platforms and technologies, including Facebook, Instagram, WhatsApp, and Messenger. Facebook Business Suite, now called Meta Business Suite, on the other hand, is a platform designed to help businesses manage their presence on Facebook and Instagram. To be precise, it is a free, comprehensive social media management solution for Facebook and Instagram.
This tool also allows you to write or schedule articles, stories, and advertisements, and you’ll get useful tips to maximize your efforts as you go. Additionally, you may organize materials and create organic campaigns. It unifies the technologies that enable you to communicate with your consumers across all apps and improves business outcomes.
Interestingly, you can perform a lot more of the aforementioned duties in a single tab since Business Suite works more like a standard social media management tool. Besides this, utilizing the platform’s facilities can help you tackle the social media presence of your company more straightforwardly. It also enables you to swap between your Facebook and Instagram accounts without hassle. For this, you need to link your accounts so that you can get instant access to the dashboards of your Facebook and Instagram accounts. Meta Business Suite makes it simple to monitor notifications and reply to communications fast whether you’re using it on a desktop or mobile device.
Meta Business Suite Helps You to:
Post content on both Facebook and Instagram from one platform without having to switch accounts.
Manage your inbox from one place across all your Facebook, Instagram, and Messenger accounts.
Track your performance insights and trends to learn about your Facebook and Instagram audiences.
Before Meta Business Suite, Meta launched Facebook Business Manager (now Meta Business Manager) in 2014. With the help of the Meta Business Manager, you can manage your assets independently of your personal profile, such as Facebook business pages, Instagram profiles, and ad accounts. It is like a backend tool that lets you communicate or restrict access to your company accounts by designating one of six distinct roles for people who have access to your accounts. You may assign responsibilities, request access to accounts, and work with team members. Furthermore, this aids in keeping all of your corporate assets within the Meta ecosystem under your control and security.
How to Use Meta Business Suite?
If you’re looking forward to starting with Meta Business Suite, we suggest you go through the steps that can help you effectively manage your Facebook and Instagram accounts. Below are the steps for getting started with Meta Business Suite:
Have a Facebook Business Account
Meta Business Suite Log-in Page
The obvious thing to do is to have a Facebook Business Account. If you already have it, then you can skip this step. If not, then go to “create an account” either by logging into your existing one or by creating a new account.
Select Your Accounts
Whatever account, be it Facebook or Instagram, you can decide to add to your Business Suite. However, in the case of adding an Instagram account, it must be changed to a business or creator account. Facebook will prompt you to change before allowing you to finish the creation procedure if you try to choose a personal account.
Add or Invite Team Members to Your Business Suite
Next, you can add or invite your colleagues to your Business Suite. To invite, choose the appropriate Meta business account using the drop-down option in the top-left corner. The account settings will then appear when you click the gear icon in the lower-left corner. You can also assign different roles and responsibilities to your team members either by assigning them as an employee (limited access) or as business admin (full access).
Navigate Through Dashboard
Once you’ve logged in, you’ll be taken to the dashboard where you can control your company’s Facebook, Messenger, and Instagram presence. You should be able to access different functions using the navigation menus and tabs, albeit the arrangement and individual options may differ.
Monitor Notifications and Messages
This is the most interesting part of the Business Suite, and it lets you monitor notifications and messages. Once you’ve set up your account and assigned roles to team members, now you have to start posting content in order to attract your target audience. Thanks to Meta Business Suite’s integrated inbox for your Facebook Pages and Instagram accounts, you can read and reply to comments, messages, and other alerts in one location. The Business Suite even helps create automated replies for commonly asked questions by your audience. This can help you save some time instead of replying to every DM.
Get Access to Insights and Analytics
Analyzing the performance of your social media presence is crucial.
With the help of Business Suite, you can view all your latest insights and trends. To assist in establishing your content strategy, Meta Business Suite helps you analyze data like reach, engagement, and audience demographics.
Create and Schedule Posts
Meta Business Suite offers the ability to create and schedule posts and stories from one place. To write and schedule posts for your Facebook Pages and Instagram profiles, use the “Create Post” or comparable option. Additionally, you may choose a certain day and time for your articles to be published as well as upload images, videos, and text.
How to Create a Facebook Post | Meta for Business
Manage Ad Campaigns
Yes, that’s right, with Meta Business Suite, you can easily manage and create ad campaigns. It also helps you keep track of your ad performance if you’ve run it on Facebook or Instagram. The tool also allows you to have control over your budget, targeting options, and ad effectiveness.
Utilize All Other Additional Features
If you explore the Business Suite, you will come across many additional features. These additional options might include cross-posting material between Facebook and Instagram, managing corporate communications, and having access to sophisticated advertising capabilities, depending on the features and upgrades that are available at the time. It also includes features like an appointment scheduler, which will come in very handy in managing your business appointments, especially for a service-based business. To add to that, Meta Business Suite also has Instant Forms, another outstanding feature to help businesses grow. These Instant Forms are like a mini CRM system that can help create custom forms for your audience to fill out without having to leave the platform.
Conclusion
By far, we have now learned that the Meta Business Suite sets itself up as a perfect tool for businesses to manage their social media presence. It can immensely improve their marketing skills, be on Facebook, Instagram, and even WhatsApp. The platform offers all the tools you want to keep track of your audience’s comments and direct messages, schedule posts, make social media ads, and much more.
Meta Business Suite is a platform designed to help businesses manage their presence on Facebook and Instagram, including marketing, advertising, and other related activities.
Is Meta Business Suite free?
Yes, Meta Business Suite, formerly Meta Business Suite, is a free, comprehensive social media management solution for Facebook and Instagram.
Can I track the performance of my ads with the Meta Business Suite?
Yes, the Meta Business Suite provides tools to monitor the performance of your ads. You can track metrics like engagement, reach, clicks, likes, and more to evaluate the effectiveness of your campaigns.
Media companies are thriving, especially digital media companies these days. Various advertisements are used to generate revenue by these companies: programmatic advertising, sponsorships, subscriptions, native promotions, and more. Furthermore, a lot of digital media companies are out there growing. Thanks to the increasing number of people using the internet and with the need to keep up with everything, the speed at which the internet works these days is increasing. 5G networks are rolling in offering more and better services.
Advertising, broadcasting and networking, news, print and publication, digital, recording, motion pictures, events, and more, all of these specifications fallunder the umbrella of two words: the media industry, with each having its unique way of working. But in today’s world, with the rapid development of new technology and the internet, the media industry has lived through much change itself. Some companies are revolutionizing how we look at and define media today.
Every company is a media company – David Ogilvy
People will continue to want to stay informed and entertained. Look at the top Media companies that originated in the U.S.
History has witnessed a thirteen-year-old writing his first program on a teletype computer, a tic-tac-toe program in basic computer language purchased for the school by the mother’s club. This company right here does not need any introduction, nor does the co-founder of Microsoft, and philanthropist famous for creating history.
Bill Gates has a history of excelling in his school, getting exemplary grades and scoring 1590 out of 1600 on a Scholastic Aptitude Test. Gates and Paul Allen later bonded in school over their love of computers, and the rest of the story is known to the world. Bill has worked with Steve Jobs and they did get along well. It is one of the lesser-known facts, but Microsoft rescued Apple in the year 1997 from running into bankruptcy.
The organization is believed to be responsible for the emergence of the term “tablet”. It has been experimenting, leading to prototypes for its product designs. Microsoft has gained over 10,000 patents, applying for 3000 more per year. Also well known for its computers and gaming consoles.
Recently there were alleged reports that Microsoft did try to buy Discord and Pinterest this year, and it shows the prominent role of the internet in the area of digital media. Here is a list of companies, right from social media platforms to interactive media companies that fall under the umbrella of Microsoft Corporation.
LinkedIn Corp.
Skype
GitHub
Mojang
aQuantive
ZeniMax Media Inc
Meta (Facebook)
Founder
Mark Elliot Zuckerberg
Founded in
2004
Headquarters
1 Hacker Way, Menlo Park, California
Revenue
$116.6 Bn (2022)
CEO
Mark Elliot Zuckerberg
Biggest Media Company | Meta
The most popular social networking app has rebranded itself as Meta. The most expensive acquisition that Facebook has ever made is that of WhatsApp. Facebook bought it for 19 million in the year 2014. Evolving the way we connect recently, Facebook has also rebranded itself as Meta. Metaverse is further changing how other platforms work as well with virtual and augmented reality.
Facebook has acquired over 90 companies. The count is based on names that the company has disclosed. However, there may be more acquisitions that have not yet been announced.
Some well-known companies acquired by Meta (Facebook) are as follows:
Instagram
Oculus VR
Onavo
Beluga
WhatsApp
Media has taken on a whole new aspect with the introduction of the metaverse. This features virtual and augmented reality and the technologies associated with it that could boom in the coming years.
American Telephone and Telegraph (AT&T)
Founders
Alexander Graham Bell and Gardiner Greene Hubbard
Founded in
1983
Headquarters
Dallas, Texas, U.S.
Revenue
$120.74 Bn (2022)
CEO
John T. Stankey
Biggest Media Company | AT&T
It ranks as the number one and largest communication company in the world by revenue and has over 100+ million U.S. mobile subscribers, according to the report for 2020. It has over 200 million subscribers worldwide. AT&T provides branded telephones, cabling systems, and consumer electronics.
Representing quality in global communications, connecting people with 5G, internet & fiber, technology & innovation, and entertainment with Warner Media and its streaming platform HBO Max. This platform stands out as a strong brand. It is also the first company to offer a 5G network in the USA.
Selling out premium content, which is a plus point to establish deeper relationships with its consumers, with storytelling, in turn, converting them into loyal customers.
Their channel, CNN, reaches over 200 billion people. A deal between Warner Media and Discovery has also been struck to combine content and compete with Netflix and Disney.
AT&T has 98 companies under its umbrella and some of them include:
Providing entertainment to its audience, having a powerful vision and acquisition has got the Walt Disney Company where it is today. Disney also defines the world of animation. Back in 2019, it officially acquired 21st Century Fox. Now the media giant holds under these three categories various companies:
Disney media and entertainment distribution
Disney+, ESPN+, Hulu, Hotstar, Disney Music group
Disney Studios
Studios include Walt Disney Studios; Walt Disney and Pixar Animation Studios, and Pixar Animation Studios. Marvel Studios. Lucasfilm, Disney theatrical group, 20th-century studios. Searchlight Pictures.
General entertainment
20th television studios, ABC entertainment; the ABC-owned television stations group, ABC News, ABC signature, Disney-branded television, freeform, FX, Hulu originals; National Geographic. The Walt Disney Company’s cable channels, ESPN+, and ABC.
The amount of control over these companies by Disney depends upon the percentage of ownership it has over them.
Most of Disney’s revenue is generated from:
Media networks
Park and resorts
Studio entertainment
Consumer products and interactive media
Netflix
Founders
Reed Hastings, and Marc Randolph
Founded in
1997
Headquarters
Los Gatos, California, U.S.
Revenue
$31.6 Bn (2022)
CEO
Ted Sarandos
Biggest Media Company | Netflix
You can’t think of media without adding Netflix next to it, such as the established position it has acquired in the minds of everyone. Netflix changed the game when they introduced a subscription model in the year and no doubt is the competition of all the new platforms coming in wanting to not miss out on the streaming revolution that is making rounds.
Starting as a DVD-by-mail business in the year 1997, it changed its business model over time. The revenue comes in from the subscription fees from the members; it had 192.95 million paid subscribers, according to reports from the second quarter of the year 2020. Another study revealed that most of its users are from the U.S. and Canada in 2021. As of now, it has over 231 million paid subscribers.
Lastly, keep in mind that Netflix is exploring new areas and aiming to expand its empire in gaming. Releasing five games back in November, which are available on iOS and Google Play Store, Netflix is slowly taking the company to another level as it plans to release three new mobile games globally.
Alphabet Inc.
Founders
Larry Page, and Sergey Brin
Founded in
2015
Headquarters
Mount View, California
Revenue
$76 Bn (2022)
CEO
Sundar Pichai
Biggest Media Company | Alphabet
Alphabet Inc. the parent company of Google, was established in the year 2015, and co-founded along with Sergey Brin, who also serves as the Director, to make the core business of Google cleaner and more accurate. Alphabet Inc. identifies as a company that falls under the computer service industry. The holding company includes segments of Google: Google services, Google Cloud and Google Workspace.
Google is involved in businesses like:
Engagement in advertisement
Sales of digital content
Applications
Cloud offerings
Not to forget its hardware products, which are:
The pixel phones
Chromecast with Google TV
Google Nest Hub smart display
Apart from this, Alphabet Inc. is also engaged in other segments. The most recent buzzing news is about the deal Verizon Communications signed with Alphabet Inc’s Google Cloud to use its 5G network, its computing powers, and more.
Comcast Corporation
Founder
Ralph J. Roberts
Founded in
1963
Headquarters
Philadelphia, Pennsylvania
Revenue
$121.43 Bn (2022)
CEO
Brian L. Roberts
Biggest Media Company | Comcast
Comcast Corporation, the biggest cable TV and broadband provider company, has been a part of many firsts in history. David Sarnoff founded the first permanent radio network, NBC, in the year 1926, which brought the Olympics to the world with NBC covering it.
In 2010, they opened the doors to the Wizarding World of Harry Potter. In 2018, Xfinity became the largest Gigabit Internet Provider in the United States in more than 58 million homes, which was faster than any other internet service provider at that time. 2020 had been the best year for Comcast for its broadband. And apart from this, some recent acquisitions in the past few years by Comcast include:
Sky
DreamWorks Animation
NBCUniversal
They have also launched Peacock, Xfinity Flex, xFi, and more. The media and technology company also has won broadcasting rights for the Olympic games 2032 back in 2014.
Charter Communications
Founders
Barry Babcock, Jerald Kent, and Howard Wood
Founded in
1993
Headquarters
Stamford, Connecticut
Revenue
$54 Bn (2022)
CEO
Tom Rutledge
Biggest Media Company | Charter Communications
Charter, which is a broadband and cable operating company, has served over 32 million customers with the help of its brand Spectrum. The services provided by Charter Communications Inc. are further divided into:
Spectrum networks
Spectrum Original
Spectrum Reach
Spectrum Business
Spectrum Enterprise
With more than 30 Spectrum Networks Delivering Local News and Sports. It aims to be the broadband provider of the future that is fast and secure.
The United States media industry is dominated by a handful of large conglomerates, including The Walt Disney Company, Comcast, AT&T, ViacomCBS, and Discovery, among others. These companies control various media outlets such as television networks, movie studios, streaming services, and publishing houses, enabling them to reach millions of people every day.
While this concentration of power has led to concerns about media diversity and competition, these companies have also played a significant role in shaping American culture and influencing global media trends. As the media landscape continues to evolve and new technologies emerge, these companies will likely remain major players in the industry for years to come.
FAQs
What are the 5 biggest media companies?
Some of the biggest media companies are:
Comcast
AT&T
Walt Disney
Netflix
Alphabet
Which is the biggest media company in the US?
Comcast is the biggest media company in the U.S.
Who Owns the Media in the U.S.?
U.S. media outlets are owned by 15 billionaires and six corporations.
With steady growth, the tech industry is growing at an impressive 5.3% rate. The industry occupied around 35% of the total market base. And the count of tech companies is increasing with a high amount. For instance, the highest count of tech companies is based in the United States, with a count of more than 500 thousand.
And it’s true that regardless of their origin industry, the means of technology is acquired by everyone, and so is every industry. Technology covers all sectors, including hardware, software, online services, tools, and cybersecurity solutions.
Speaking of the tech industry, we are here to make you familiar with the top tech companies in the world, with their market capital and total revenue. So, let’s get started with the article!
List of Top Tech Companies in the world
The tech industry comprises many companies, among which are some of the most valuable in the world. And here’s the list of those and the top tech companies worldwide:
Apple iPad, Apple Mac Book, Apple Watch, Apple iPhone Mobile
Website
www.apple.com
Apple Website
With the highest market capitalization of USD 2421 billion, Apple has an enormous presence in the world’s tech market, making it a giant in the industry. Apple specializes in software, electronics, and online services, with an employee account of over 1,608,000.
Apple is an integral part of BIG FIVE, which includes Google, Amazon, Meta, Apple, and Microsoft. These five companies are the most valuable public corporations in the world based on their market capitalization.
This tech giant was founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne. Since then, Apple has been on a progressive growth producing various kinds of tech devices, from computers to wearables.
Moreover, Apple is the largest technology company based on its revenue, USD 387.54 billion in 2022. And ranked the fourth largest personal computer vendor based on its unit sale in 2021. Its popular products are AirPods, iPhone, iPad, and Apple Watch.
2. Microsoft
Company
Microsoft
Founded
1975
Market Cap
$1825 B (2022)
Revenue
$198.27 B (2022)
Top Products
Microsoft Windows, Microsoft Office Suite, Micrsoft Azure, Internet Explorer
Website
www.microsoft.com
Microsoft Website
Being the most prominent tech giant in the world and the largest software company, Microsoft is one of the oldest tech companies mentioned in this list. It was founded in 1976 and released to the public in 1986. It is best known for its Windows operating system, Azure cloud services, LinkedIn social media platform, and Xbox gaming system.
Moreover, Microsoft is ranked first in the list of BIG FIVE tech giants. The company reported a 12.3% revenue growth in 2022, whose main credit goes to Microsoft’s Azure and other cloud services. Also, at the start of 2022, it announced its deal to acquire the video gaming publisher Activision Blizzard Inc. (ATVI).
3. Google Alphabet
Company
Google Alphabet
Founded
1998
Market Cap
$1346 B (2022)
Revenue
$278.13 B (2022)
Top Products
Google Search, Google Maps, Google Assistant, Gmail, Android
Website
www.abc.xyz
Next, with a whopping market capital of 1346 billion dollars, Alphabet Inc. is an American-based multinational company that originated from Google LLC and many other subsidiaries.
Google Inc. is considered a unanimous leader in the search engine sector across the world, whose market share is around 91.9%. Regarding the FIVE GIANTS, Google has always been a genuinely innovative and trustworthy tech giant, founded by Larry Page and Sergey Brin in 1998.
Google Alphabet always has a keen eye for investing in innovative projects such as life extension R&D company Calico, self-driving cars, the smart home project Nest, and many more.
4. META
Company
Meta
Founded
2004
Market Cap
$545.44 B (2022)
Revenue
$117.929B (2021)
Top Products
Facebook, Meta Audience Network, Meta Business Tool
Website
www.about.meta.com
Meta Website
When it comes to top tech companies across the world, META can never be off the table. The company is the parent company of the most powerful social media platforms such as Facebook, Instagram, and Whatsapp.
Mark Zuckerberg founded the company when he was still a student at Harvard University in 2004. META succeeded with an advanced graph, and as of today, the company has reached nearly 3 billion active users monthly.
In competing with Snapchat and Tiktok, META has introduced several innovative features that have made it a leader in online advertising.
The global tech industry is roughly valued at $5.2 trillion. The above graph shows the global tech industry distribution by the market share in percentage.
5. Tesla (TSLA)
Company
Tesla
Founded
2003
Market Cap
$656.57B (2022)
Revenue
$74.863B (2022)
Top Products
Tesla Electric Car, Tesla Model X, Tesla Model 3
Website
www.tesla.com
Tesla Website
Tesla is a true leader in electric vehicle development and production. Even though the prices of vehicles offered by Tesla are too high, and it takes a lot of time to deliver them, consumers prefer them over everything else.
Tesla was founded by Elon Musk who is also the current CEO of the Tesla Company. The unique thing about Tesla is its business model, which does not use the traditional dealership model of selling vehicles.
Initially, the company was limited to online marketing only, but with time, it started developing its technological devices and also offered cloud services to consumers. With such an innovative mindset, Amazon is ranked the 6th largest company by Forbes among the list of top 25 techs and IT companies.
7. Samsung Electronics
Company
Samsung Electronics
Founded
1969
Market Cap
$281.39 B (2022)
Revenue
$250.21 B (2022)
Top Products
Samsung Galaxy Mobile Phones, Samsung Monitors, Samsung Camera
Website
www.samsung.com
Samsung Electronics Website
Samsung Electronics is the largest mobile phone manufacturing company and the biggest competitor to Apple Inc in the production of mobile phones.
The company is based in Seoul, South Korea. Samsung Electronics isn’t limited to producing electronic devices but also ships, turbines, aircraft engines, and life insurance. Its flagship brands are Galaxy S, Z, and note series. They contribute up to 40% of the company’s growth.
Tencent Holdings, a Chinese technology conglomerate company, is the first-ever Asian tech company that reaches the mark of $500 billion.
The company offers web portals, payment systems, e-commerce platforms, mobile games, and social networks. Along with this, it also owns Tencent Music and Tencent Games companies.
The most successful product of Tencent Holdings is WeChat which has over 1.2 billion monthly active users. The company also provides various marketing solutions and cloud services.
9. Alibaba Group
Company
Alibaba Group
Founded
1999
Market Cap
$191.14B (2022)
Revenue
$134.567 B (2022)
Top Products
Alibaba.com, Aliwangwang, Alibaba Cloud, AliGenie
Website
www.alibabagroup.com
Alibaba Group Website
Another massive Chinese multinational technology company is Alibaba Group. It specializes in retail, e-commerce, the internet, and technology. It offers various profitable services such as web portals, electronic payment services, shopping search engines, and cloud computing.
Alibaba Group was founded in 1999 and established in Hangzhou, Zhejiang. Regarding retailers and e-commerce companies, Alibaba Group is one of the largest groups of companies in the industry.
Moreover, the company is ranked fifth among the largest artificial intelligence companies in the world in 2020.
Semiconductors Used in Mobile Devices, Internet of Things, Automotive Electronics
Website
www.tsmc.com
TSMC Website
Being the largest contract chipmaker in the world, Taiwan Semiconductor Manufacturing produces highly advanced and innovative semiconductors designed by Qualcomm Inc. (QCOM) and Advanced Micro Devices Inc. (AMD).
In recent years, Taiwan Semiconductor Manufacturing has reported a 43.5% growth in its revenue and a net worth of $7.9 billion. The company was founded in the year 1987 and ever since then; it has been leading the global semiconductor foundry, where it generates a 517% return for investors.
Another super famous American tech company is Dell Technologies, which specializes in the market of personal computers. It offers a vast range of tech products, such as data storage devices, servers, SmartTV, network switches, computer accessories, cameras, and many more.
This tech company was founded in 1984 by Michael Dell. Since then, Dell Technologies has been known for its innovative chain supply management and direct sales e-commerce model.
12. Oracle Corporation
Company
Oracle Corporation
Founded
1977
Market Cap
$202.40 B (2022)
Revenue
$44.15 B (2022)
Top Products
Oracle Database, Oracle ERP, MySQL, Oracle E-Business Suite
Website
www.oracle.com
Oracle Corporation Website
Oracle Corporation, a computer software company, was founded in 1977 in California, United States by Larry Ellison, Bob Miner, and Ed Oates with its corporate office headquartered in Austin, Texas.
The company has over 400,000 customers across the globe, such as Siemens Healthineers and FedEx. It provides multiple specific solutions for different types of industries.
Its solutions help manage the modernization of restaurants’ finances, connect HR/product management, secure network infrastructure, and, most importantly, enhance client satisfaction.
Foxconn is spread over to more than 20 countries with its subsidiary count reaching up to 200+ in total. It is also considered the world’s largest electronic manufacturer and a leading science and technology solution provider.
Its top products in the market are iPhone, Kindle, iPad, Blackberry, Redmi phones, PlayStation, and Nintendo. Foxconn ranked 22nd in the 2021 Fortune Global 500.
14. Huawei
Company
Huawei
Founded
1987
Market Cap
$71.2 B (2022)
Revenue
$99.9 B (2021)
Top Products
Huawei MateBook, Huawei Watch, Huawei Mobiles
Website
www.huawei.com
Huawei Website
Another China-based tech company is Huawei Technologies, a consumer electronics manufacturer. Its designs create and sell telecommunication tools to the top telecom companies worldwide, including British Telecom, Bell Canada, and Vodafone.
The company was started as a reselling private branch exchange company, founded in 1987 by Ren Zhejiang. Today, Huawei is a telecom behemoth that develops numerous innovative tech gadgets.
Adobe was founded in 1982 as an American-based software company that provides practical solutions for marketing and document management. Its top products in the market are Adobe Photoshop, Adobe Acrobat, and Adobe Creative Cloud.
Adobe was founded by John Warnock and Charles Geschke in 1982 with its headquarters being placed in San Jose, California (United States). Adobe Inc. also expanded its services in digital marketing software and was considered one of the top global leaders in Customer Experience Management (CXM) in 2021.
The top three services provided by Adobe are Creative Cloud, Experienced Cloud, and Document Cloud.
Conclusion
In conclusion, we can say that the tech industry is increasing and covers some of the most valuable companies in the world. However, it’s essential to know that before investing in any company, you need to do thorough research and, after that, focus on buying an ETF.
As the industry contains a vast number of tech companies, there are many options for you to invest and earn a profit. The above list includes the top 15 tech companies in the world with some of the
FAQs
Which are the top 5 IT companies in the world?
The top 5 IT companies in the world are Microsoft Corporation, IBM, Accenture, Oracle, and TCS.
Which is the oldest tech company?
IBM is considered the oldest tech company in the world. Basically, IBM is counted to be 108 years old company.
What are the top 3 online businesses?
The top 3 online businesses are selling digital marketing services, freelancing, and coaching and consulting.
Who is the market leader in technology?
Apple is considered the market leader in technology with a marketing capital of about $2.448 T.
It was in May 2022 that news began circulating about the world’s largest technology companies that lost over USD 1 trillion in value over just three trading sessions. This was in direct response to the Federal Reserve raising its benchmark interest rates.
The year-over-year inflation rate has remained abnormally and consistently high and peaked in June 2022 at 9.1%, according to the Consumer Price Index Data. It fell to 8.2% in September 2022, which was well above the inflation rate of 2% that is preferred by the central bank.
The Federal Reserve Bank has been struggling to control and bring down the inflation rate, and working towards this had announced a 0.75% interest rate hike. This is the sixth interest hike by the Federal Reserve in the hope that it can cause prices to reduce by slowing down the economy.
Top Companies Valuation (2020-22)
As stocks at large began selling off with the Federal Reserve’s announcement of yet another interest rest hike, the technology sector felt the tremors more than any other sector. The world’s most valuable company, Apple, shed USD 220 billion followed by Microsoft which lost USD 189 billion, Amazon declined by USD 173 billion, Alphabet lost USD 123 billion, and Meta which lost USD 70 billion. Investors are also showing an increasing interest in pushing their money toward the safer market pockets as opposed to stocks that drove business during the strong bull market in recent years.
As much as the numerous interest rate hike by the Federal Reserve Bank have impacted trillion-dollar companies to lose valuation, the entire burden for this decline does not rest on its shoulders alone. There are reasons, external and internal, that hugely impact the fluctuation in a company’s valuation.
External Factors
Many external factors affect the valuation of any company these includes-
Government Policies
Macro-Economic Forces
Industry Life Cycles
Company’s Own Life Cycle
Personal Needs and Desires of the Owner
Capital Markets
Each of these factors is of considerable importance which makes it tough for a company to accurately time any transaction. However, historically, credit markets have proven to be one of the most powerful external forces that decide thevaluation of a company. There are two primary reasons for this.
1. Rate of Return
Economic risks are measured by determining the rate of return required for an equivalent investment facing an equivalent level of risk, known as the ‘discount rate’. Simply explained, it means that as the interest rates go down, current values go up which ensures that the company’s valuation increases. Contrarily, the higher the interest rates, the lower the valuation as borrowing money becomes more and more expensive. This decreases a company’s valuation.
2. Supply of Money
This particular concept heavily influences business valuations. As the economy slows, the Federal Reserve lowers the interest rate driving the capital markets to loosen purse strings by buying stock cheaply. What then happens is that there is more money that competes for a limited number of assets which, then, consequently, drives valuation higher making investors take on more risks due to easy access to debt and lower discount rates. This period of speculation ignores the fundamentals where the growth is high.
Internal Factors
An Enterprise’s value also depends on these critical micro-business valuation factors which are largely internal and within the control of the management team.
Companies that lose valuation do not do so overnight. There are warning signs that come to the fore before the actual valuation drops. These warning signs, if not recognized and corrected at the right time can prove to have devastating effects on businesses.
A sharp drop in revenues
Delayed payments to creditors
Default on statutory payments
Delay in payment of employee salaries
Numerous red flags were raised by auditors, analysts, and fund managers in the annual accounts
Huge churn in the company’s top management
Company stocks being sold off quickly by institutions
Promoters exiting their stake
Deteriorating performance in comparison with competition
Consistently dropping return ratio on ROE, ROCE, ROA, NPM, OPM, etc.
Here are the famous top 3 companies that lost 1 Trillion in Market Cap
Economic downturns are a harsh reality in the global world. However, if companies are consistently losing valuation despite external factors like stable federal reserve interest rates and a bullish capital market, the reasons are more than likely internal. It is, then, to an investor’s advantage to conduct a deep study of the business itself and its internal functions to realistically assess the risks of investing.
FAQs
Did Amazon Lose $ 1 Trillion and What Are the Reasons?
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In a company, one of the most significant factors is the employees. Without them, one cannot even imagine running a company, no matter how small the business is. Your employees are the main assets of your company. However in 2022, we are seeing, some major, popular companies laying off their employees. Some of these layoffs have stunned the world of business as they are even reaching thousands of employees at once.
The reason for the layoffs varies, from cost-cutting to bad performance to financial difficulties. Some of the companies even faced criticism for their sudden decision. Many people lost their jobs during the pandemic and now these strings of similar layoffs are creating a ruckus in the world. The economic situation of the world is also a big reason for these layoffs. According to reports over 8000 people alone in just the first half of 2022 have been laid off by their companies.
In this article, we will talk about those companies who have laid off their employees and their reason for doing that. Furthermore, we will also talk about the companies that have the possibility to follow the path of laying off their employees. So, without any further ado, let’s get started.
“Your employees come first. And if you treat your employees right, guess what? Your customers come back, and that makes your shareholders happy. Start with employees and the rest follows from that.” -Herb Kelleher
Founder – Bill Hewlett, David Packard Founded – 1939 Laid Off – Up to 6,000 Employees (by 2025)
HP – Top Companies Laying off Its Employees
The American multinational IT Company, HP has joined the list of top tech companies laying off its employees. HP will lay off 4,000 to 6,000 employees, which is around 10% of its current global workforce of 61,000, over the next three years as a part of its cost-cutting efforts.
The company will also reduce its real estate footprint along with the layoffs. HP’s ‘Future Ready Transformation’ plan is expected to save the company as much as $1.4 billion annually by the end of 2025. It expects the restructuring and other activities to cost around $1 billion.
India’s prominent food delivery startup, Zomato, is reportedly planning to lay off its employees on account of its cost-cutting efforts to become profitable. Zomato is going to lay off about 3-4% of its workforce, which currently consists of nearly 3,800 employees. Around 100 Zomato employees have already been affected in the product, technology, catalogue, and marketing areas. Zomato has called it a “regular performance-based churn.” Earlier, Zomato laid off around 520 employees (13% of its workforce) in May 2020 as a result of the business downturn caused by the pandemic.
Amazon
Founder – Jeff Bezos Founded – 1994 Laid Off – 10,000 Employees (November 2022)
Amazon – Top Companies Laying off Its Employees
Amazon has also joined the bandwagon of layoffs and is reportedly laying off 10,000 employees in corporate and technology jobs. The company’s layoffs will be focused on its device business, including its Alexa products, and its retail and human resources divisions. The layoffs represent less than 1% of Amazon’s global workforce of more than 1.5 million. It is the biggest job cut that Amazon has ever made in its history.
Meta
Founder – Mark Zuckerberg, Andrew McCollum, Chris Hughes, Dustin Moskovitz, Eduardo Saverin Founded – 2004 Laid Off – 11,000 Employees (November 2022)
Meta – Top Companies Laying off Its Employees
On November 9, 2022, Meta, the parent company of Facebook, Instagram, and WhatsApp, announced that it is laying off more than 11,000 employees, accounting for nearly 13% of its workforce. It is one of the biggest tech layoffs of 2022. According to Meta’s CEO, Mark Zuckerberg, the reasons behind the company’s mass layoffs include the macroeconomic downturn, increased competition, and diminishing ad revenues, which caused Meta’s revenue to be lower than what he had expected.
Meta also plans to cut down its discretionary expenses and continue the hiring freeze through the first quarter of 2023.
Twitter
Founder – Jack Dorsey, Biz Stone, Evan Williams, Noah Glass Founded – 2006
Twitter Recent Layoffs
November 2022
3,700 employees
July 2022
100 employees
Twitter – Top Companies Laying off Its Employees
Twitter is an American communications company founded by Jack Dorsey, Biz Stone, Evan Williams, and Noah Glass on March 21, 2006. Currently headquartered in San Francisco, California, United States, Twitter is one of the biggest social media platforms that has been all over the news in relation to one of the biggest acquisitions in modern times ($44 billion), led by billionaire techie, Elon Musk. Twitter laid off 30% of its staff (nearly 100 employees) from the recruiting team in July 2022.
On November 4, 2022, Twitter laid off about 3,700 employees, accounting for nearly 50% of its global workforce, including 90% of employees in India, as a way to cut costs following the company’s acquisition by Musk, which closed on October 27, 2022.
Founder – Amod Malviya, Vaibhav Gupta, Sujeet Kumar Year – 2016 Laid Off – 350 Employees (November 2022)
Udaan – Top Companies Laying off Its Employees
Udaan, a B2B eCommerce platform and a proud unicorn startup in India has joined the list of top companies laying off its employees. The startup laid off about 350 full-time employees in November 2022 in order to attain profitability and better efficiency. However, this is not the first time that the startup has laid off its employees. Earlier in June 2022, it laid off 180 employees as a part of its cost-cutting initiatives. The second round of its layoffs this year comes only a week after the startup raised $120 million through convertible notes and debt.
Coinbase
Founder – Brian Armstrong and Fred Ehrsam Founded – 2012
Coinbase Recent Layoffs
November 2022
60
June 2022
1,100
Coinbase – Top Companies Laying off Its Employees
Coinbase is an online platform from which you can buy and sell cryptocurrency. The employees of the company work remotely and it doesn’t have any headquarters. It is considered the biggest crypto exchange platform. On a very shocking note, the company laid off around 1,100 of its employees which amounts to almost 18% of its workforce in June 2022. According to the company, the decision has been taken to control and manage the expenses of the company with the ongoing situation in the market.
Coinbase laid off another 60 employees from its recruiting and institutional onboarding departments in November 2022.
Unacademy
Founder – Gaurav Munjal, Hemesh Singh, Roman Saini Founded – 2015
Unacademy Recent Layoffs
November 2022
350 employees
June 2022
150 employees
Unacademy – Top Companies Laying off Its Employees
One of the biggest EdTech companies in India shocked everyone this year when they decided to lay off around 600 employees. It was a sudden decision in the month of April. The reasons for this layoff were said to be that the performances of the employees were not good enough.
After that, the edtech giant laid off 150 employees in June 2022. On November 7, 2022, Unacademy conducted another round of layoffs and laid off around 350 employees, accounting for nearly 10% of its workforce of 3,500, as the company tries to cut its expenses and generate a profit.
Microsoft
Founder – Bill Gates, Paul Allen Founded – 1975
Microsoft Recent Layoffs
October 2022
1,000 employees
August 2022
200 employees
July 2022
1,800 employees
Microsoft – Top Companies Laying off Its Employees
Microsoft Corporation or Microsoft was founded by Bill Gates and Paul Allen on April 4, 1975. Microsoft is an American multinational technology corporation that is unarguably one of the biggest tech companies in the world today. However, after the company announced that it would be laying off as part of a “realignment”, Microsoft also joined the list of big companies laying off their employees. Besides, it is also important to note that Microsoft became the first tech giant to lay off employees.
Microsoft laid off 1,800 employees in July 2022, and a month later, it laid off another 200 employees. In October 2022, it laid off around 1,000 employees, marking the third round of layoffs in the same year.
BYJU’S
Founder – Byju Raveendran, Divya Gokulnath Founded – 2011 Laid Off – 2,500 (October 2022)
BYJU’S – Top Companies Laying off Its Employees
In October 2022, the biggest Edtech in India, BYJU’S took a drastic decision and announced that it will lay off 2,500 employees or 5% of its workforce. The unicorn, even after reaching a valuation of around $22 billion, decided to sack its employees. The startup’s co-founder and CEO blamed macroeconomic conditions and the startup’s plans to achieve profitability by the end of the current financial year as the reasons behind mass layoffs.
Noom
Founder – Saeju Jeong, Artem Petakov Founded – 2008
Noom Recent Layoffs
October 2022
500 employees
April 2022
500 employees
Noom – Top Companies Laying off Its Employees
Noom is a wellness app that deals with tracking the weight of a person and also focuses on mental health. The company in the month of April announced the dismissal of 500 employees. The layoff is done because of the sole reason for changing the coaching model. The strategy of coaching has been changed, and the employees were dismissed for the betterment of the business. In October 2022, Noom laid off about 500 employees, accounting for nearly 10% of its total staff.
Clear
Founder – Ankit Solanki, Archit Gupta, Srivatsan Chari Founded – 2011 Laid Off – 190 to 200 Employees (September 2022)
Clear – Top Companies Laying off Its Employees
India’s leading Fintech SaaS startup, Clear (formerly Cleartax) is another prominent name that has joined the list of companies laying off their employees in 2022. The Bengaluru-based startup laid off 190 to 200 employees across different departments on September 15, 2022. This number amounts to nearly 20% of the company’s workforce. The layoffs are said to be a part of the company’s restructuring efforts to increase its cash flow.
Rupeek
Founder – Sumit Maniyar Founded – 2015
Rupeek Recent Layoffs
September 2022
50
June 2022
180-200
Rupeek – Top Companies Laying Off Its Employees
Rupeek is a digital gold loan provider company whose headquarters is situated in Bengaluru, India. It is present in over 35 cities. The company laid off about 180-200 of its employees which is 10-15% of its workforce in June 2022. The layoff has been done from different departments and teams. Rupeek gave the reason for cost-cutting for firing its employees, the company is looking forward to making its structure leaner and more compatible. In September 2022, Rupeek once again laid off around 50 employees across different departments as part of its strategy to become profitable in the next 12-18 months.
Meesho
Founder – Sanjeev Barnwal, Vidit Aatrey Founded – 2015
Meesho Recent Layoffs
August 2022
300 employees
April 2022
150 employees
Meesho – Top Companies Laying off Its Employees
Meesho, in a sudden and surprising move, fired 150 employees of the company from their grocery business in the month of April. The popular reselling startup in India had its grocery business called Farmiso, which has now been renamed Meesho Superstore. The company is in discussion to merge the grocery store with its main app. The reorganization of the store is said to be the reason for the layoffs. This is also based on their performance in the business till now and their efficiency in adapting themselves to the new form of Meesho Superstore.
A few months later, in August 2022, Meesho laid off more than 300 employees after shutting down its grocery business in India, Superstore.
Better.Com
Founder – Eric Wilson, Erik Bernhardsson, Shawn Low, Viral Shah, Vishal Garg Founded – 2016
Better.com Recent Layoffs
August 2022
250 employees
April 2022
1,000 employees
March 2022
2,000 employees
December 2021
900 employees
Probably the most controversial layoff that has been done is by Better.com. The company was facing the heat since last year when it fired over 900 of its employees over a single Zoom call in December 2021. In March 2022, it laid off 2,000 employees and about 1,000 employees were fired in April 2022. In this year only, they have laid off almost 3000 of their employees. As per the company, the reason for the layoff is based on the performance of the employees. They have stated that the employees are fired because of their lack of productivity and their inefficiency in work. Since December 2021, the company has fired almost 50% of its workforce.
In August 2022, Better.com conducted yet another round of layoffs, by firing about 250 employees.
Ford
Founder – Henry Ford Founded – 1903
Ford Recent Layoffs
August 2022
3,000 employees
April 2022
580 employees
Ford – Top Companies Laying off Its Employees
The American multinational automobile manufacturer Ford, in the month of April, announced that they are laying off 580 of its US employees. This decision comes right after when the company announced that it will restructure the company and will focus on the making of electric vehicles. The dismissal is mainly done by the engineering department as the making of electric vehicles required different skill sets. Therefore, as per the company, it is done for the future needs of the company.
In August 2022, Ford confirmed laying off around 3,000 employees and contract workers. The job cuts are effective September 1, a spokesman said. The reason behind the layoffs is said to be the change in operations and redeployment of resources as the company plans to embrace new technologies that were not previously core to its operations, such as developing advanced software for its vehicles.
Walmart
Founder – Samuel Moore Walton Founded – 1962 Laid Off – 200 Employees (August 2022)
Walmart – Top Companies Laying off Its Employees
Walmart Inc., the popular American retail multinational corporation disclosed that it would be cutting the job roles of hundreds of corporate employees. In its Bentonville, Arkansas, headquarters, Walmart reported on August 3, 2022, that it would have to part with nearly 200 of its employees. The departments that would have to bear the brunt are numerous, including merchandising, real estate, and global technology, among others.
Robinhood
Founder – Vladimir Tenev, Baiju Bhatt Founded – 2013
Robinhood Recent Layoffs
August 2022
700+
April 2022
300+
Robinhood – Top Companies Laying off Its Employees
Consumer investing and trading service company, Robinhood before announcing its financial performance in the first quarter of 2022 announced that they are going to lay off 9% of its employees that is more than 300 of its employees in April 2022. All these employees were their permanent employees. The company went public last year in 2021 but they face a decline in trading, as per reports, this is said to be the main reason for the dismissal. In August 2022, the company again laid off about 23% of its workforce which might account for more than 700 employees. The Financial Times estimated the number of employees impacted to be nearly 780.
Yes, another popular Edtech startup, Vedantu has laid a good number of employees. Vedantu laid off 424 employees both full-time and contractual, in May 2022. Before that, it laid off 200 of its employees in the same month. The reason for this is to increase their Capital runway as per Vedantu. Apart from that, the reopening of schools and classes being conducted offline, are also said to be the reason for the layoffs of the Edtechs. Vedantu again laid off 100 employees across departments, in July 2022. This was done due to the business restructuring procedure that Vedantu is planning.
BlueStacks
Founder – Rosen Sharma, Jay Vaishnav, Suman Saraf Founded – 2011 Laid Off – 120 to 150 Employees (July 2022)
BlueStacks – Top Companies Laying off Its Employees
BlueStacks was founded by Rosen Sharma, Jay Vaishnav, and Suman Saraf in 2011. Headquartered in Campbell, California, United States, BlueStacks is known as the 2nd largest PC gaming platform in the world that aims to bring PC gamers and the Android gaming library. The pouring demand for Android smartphones has helped the company witness humongous growth throughout the year. This popular Android emulator platform has laid off 60 Indian employees, as per reports dated July 20, 2022. BlueStacks reportedly informed a majority of the employees via video calls on July 18, 2022, that their services would not be needed anymore.
Along with India, the company has also cut down its workforce in many other countries as well, from its offices in London, Tokyo, Seoul, and Beijing. The total count of layoffs might be as high as 150 employees as well, ranging between 120-150, according to the reports. The reason behind the layoffs is internal restructuring. BlueStacks has offered 1 month of salary as severance pay to the laid-off employees along with medical benefits, as mentioned by sources.
TikTok
Founder – Zhang Yiming Founded – 2016 Laid Off – 100 Employees (July 2022)
TikTok – Top Companies Laying off Its Employees
TikTok is a short-form video hosting service platform that is owned by the Chinese company ByteDance. TikTok has achieved sensational growth in India and across the world for its viral, short-form content, which even resulted in several countries complaining and banning TikTok. The platform is still growing with 8 new users joining TikTok each second. It has over 1 billion monthly active users, as of July 2022.
The popular, controversial ByteDance subsidiary TikTok has reportedly started reducing its workforce by laying off staff working in the EU, EK, and the US. These layoffs, according to Wired and some other news and media networks might affect around 100 TikTok employees, which currently work with a workforce of around 10,000 employees across the US and Europe. The TikTok layoffs are in line with the global restructuring initiatives of the company.
Netflix
Founder – Marc Randolph, Reed Hastings Founded – 1997
Netflix Recent Layoffs
June 2022
300 employees
May 2022
150 employees
Netflix – Top Companies Laying off Its Employees
The biggest streaming platform, in a surprising turn of events, announced that it was going to lay off 150 of its employees across the company in May 2022. Although it was not a huge number, it still became the talk of the town. Some of Netflix’s sudden decisions led to its slower growth of revenue, which was said to be the prime reason for laying off 150 employees. According to Netflix, it was basically done to cut costs at the streaming giant. Netflix recently lost over 2 lakh subscribers and is expected to lose more; this is one of the reasons for its slower revenue growth. In the month of June 2022, Netflix again laid off 300 of its employees, and again the reason was cost cutting.
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Founder – Elon Musk, Martin Eberhard and Marc Tarpenning Founded – 2003 Laid Off – 200 (June 2022)
Tesla – Top Companies Laying off Its Employees
Tesla which was working on its Autopilot advanced driver assistance features has faced a sudden shock. In an unexpected turn of events, Tesla laid off around 200 employees who were working on the autopilot feature in June 2022. This decision comes after Elon Musk asked the company to decrease the headcount by 10%.
CityMall
Founder – Angad Kikla and Naisheel Vardhan Founded – 2019 Laid Off – 191 (June 2022)
CityMall – Top Companies Laying off Its Employees
The three-year-old Ecommerce startup CityMall stuns everyone when it announced the layoff of 191 of its employees in June 2022. The Gurugram-based startup even after raising $75 million, added its name to the list of startups that have laid off their employees in the year 2022. The reason for this layoff as stated by the company is the structural changes that are taking place in the system.
Cars24
Founder – Gajendra Jangid, Mehul Agrawal, Ruchit Agarwal, Vikram Chopra Founded – 2015 Laid Off – 600 Employees (May 2022)
Cars24 – Top Companies Laying off Its Employees
Cars24 said goodbye to over 600 employees of the company, which is 6% of their workforce. The fired people include employees from different departments and roles. The company has not provided any special reason for the layoff and has only stated that it is based on the performance of the employees. Every year employees are laid off if they are not providing their very best. Cars24 decision of firing its employees comes at a time when the company is looking to expand itself globally.
Klarna
Founder – Sebastian Siemiatkowski, Niklas Adalberth Founded – 2005 Laid Off – 700 (May 2022)
Klarna – Top Companies Laying off Its Employees
Klarna is a Swedish fintech company that deals with online financial services. In a pre-recorded video the CEO of the company forwarded the news to the employees that the company will lay off 10% of the global workforce. Almost 700 employees were affected by this decision in May 2022. The CEO said that the Ukraine-Russia war and a likely recession are the reason behind this drastic step.
In September 2022, the company disclosed over a video meeting that it is planning another round of layoffs in an attempt to “reflect” its new and “more focused nature.” According to Klarna, the new round of layoffs will affect less than 100 employees, globally.
MFine
Founder – Prasad Kompalli, Ashutosh Lawania Founded – 2017 Laid Off – 500 (May 2022)
MFine – Top Companies Laying off Its Employees
MFine is a digital health platform based in Bengaluru that provides services like doctor consultations, diagnostic tests and others. The health platform’s sudden turn of events laid off almost 500 employees of the company in May 2022. It is almost 50% of their workforce. The company hired employees even in the month of April but after the struggle to raise funds started increasing, it decided to lay off its employees.
Blinkit
Founder – Albinder Dhindsa Founded – 2013 Laid Off – 1,600 approx (March 2022)
Blinkit – Top Companies Laying off Its Employees
Blinkit, previously known as Grofers is an online grocery shopping platform, recent in the month of March it laid off some of its employees. It is said to be 5% of their workforce which is about 1,600. The layoff has been done in mostly three cities, Hyderabad, Kolkata and Mumbai. The company has spent almost INR 600 Crores to focus on their 10 minutes delivery offering. Apart from laying off their employees, the online grocery platform is also delaying the payments of the vendors. The main reason for the layoff is said to be cost-cutting.
Trell
Founder – Agrawal, Sachan, Arun Lodhi, Bimal Kartheek Rebba Founded – 2016 Laid Off – 300 (March 2022)
Trell – Top Companies Laying off Its Employees
Nothing seems to be going right for the Social commerce startup Trell. Amidst its investigation of its alleged financial irregularities, it is said to have decided to fire 300 of its employees almost 50% of its workforce. The situation that has led to this decision is mainly the investigation that is going on by EY India. However, the company gave out the reason for restructuring and strengthening the company for the layoff. The roles that are not needed are cut off from the company.
Furlenco
Founder – Ajith Karimpana Founded – 2012 Laid Off – 180 (March 2022)
Furlenco – Top Companies Laying off Its Employees
Furlenco is a startup that provides rented furniture to its customers. The company is said to lay off about 180-200 of its employees. It is also reported that the startup has stopped all their operation in the cities like Kolkata, Jaipur, Chandigarh and Mysuru. The company has given restructuring as the main reason for the firing of their employees, the staffs mostly belong to the customer support and grievance management departments.
OkCredit
Founder – Gaurav Kumar, Aditya Prasad, Harsh Pokharna Founded – 2017 Laid Off – 40 (February 2022)
OkCredit – Top Companies Laying off Its Employees
OkCredit is a digital ledger company and on a shocking front, the company laid off around 40 of its employees in the month of February 2022. The organisation said that the reason for the sudden decision was because of the company’s changes in their priority. This has led to the restructuring of the company and the roles of the employees in the company which has led to the dismissal of several employees from the company.
Lido Learning
Founder – Sahil Sheth Founded – 2019 Laid Off – 150+ Employees (February 2022)
Lido Learning – Top Companies Laying off Its Employees
The employees of Lido Learning faced a shocking and terrible situation when about 150 to 200 of them were laid off in the month of February 2022. Lido Learning has been backed by some of the most prominent investors like Anupam Mittal and Mukesh Bansal. The company also raised over $10 million in the month of September 2021. Lido Learning founder Sahil Sheth informed the employees that because of facing some financial difficulties, the company wouldn’t be able to pay their salaries. Apart from that, some employees were asked to look for other jobs.
Unilever
Founder – Antonius Johannes Jurgens, Samuel van den Bergh, Georg Schicht Founded – 1929 Laid Off – 1,500 Employees (January 2022)
Unilever – Top Companies Laying off Its Employees
Unilever, the consumer goods multinational company revealed its plan to cut 1,500 jobs from the company in January 2022. This will be valid worldwide, the decision comes after its failure to buy the consumer health division of GlaxoSmithKline. Unilever has decided to opt for a more competitive operating model and reorganize the company for its growth and to be more responsive to consumer trends.
DiDi
Founder – Cheng Wei, Zhang Bo, Wu Rui Founded – 2012 Laid Off – 3000 (February 2022)
DiDi – Top Companies Laying off Its Employees
Chinese Ridesharing service DiDi decided to lay off 20% of its workforce in the month of February. Approximately 3,000 employees lost their jobs because of this decision. The reason for this decision is said to be the regulatory pressure that the company faced since an investigation was launched against the company last year. With its shares facing a huge decline and the company suffering a loss, the decision was taken to analyse the whole matter.
Royal Mail
Founder – Henry VIII Founded – 1516 Laid Off – 700 (January 2022)
Royal Mail – Top Companies Laying off Its Employees
The postal company of Britain, Royal Mail has been present for centuries. The company in January 2022 decided to cut off 700 employees of theirs. This decision comes after the company faced problems because of Covid, which has led to delays in deliveries. The performance of the postal company was criticised, therefore to bring change and restructure the company, they decided to fire their 700 employees.
In October 2022, the company announced that it is planning to cut down its workforce by around 10,000 by August 2023. Royal Mail attributes this decision to ongoing strikes and rising losses at the company.
Nestlé
Founder – Henri Nestlé Founded – 1866 Laid Off – 104 (March 2022)
Nestle Logo
Nestlé is a Swiss multinational food and drink conglomerate. In a sudden decision, the food processing giant has decided to close down its Sweet Earth food facility that is in California. This has led to the laying off of 104 employees in March 2022. The decision comes after, the plant-based meat company was seen to have negative growth and experience losses. Nestle acquired Sweet Earth Food Facility in 2017, it sells plant-based meat food items.
Tesco
Founder – Jack Cohen Founded – 1919 Laid Off – 1600 (February 2022)
Tesco Logo
Tesco is the biggest supermarket chain in Britain, now the supermarket chain is looking for a major overnight transformation. They are mostly shutting down the meat and fish counters of 300 stores because of low demand. This decision may lead to the layoff of 1600 employees of Tesco. The job cuts are followed as the supermarket chain is on the verge of reorganising itself.
Cineplex
Founder – Ellis Jacob, Garth Drabinsky, Gerald W. Schwartz Founded – 1999 Laid Off – 5000 (January 2022)
Cineplex Logo
Cineplex is a movie theatre chain in Canada. The pandemic situation has created many problems throughout the world, the theatre chain also faced a problem due to this. The company in the month of January announced that it was temporarily laying off 5000 employees of their as theatres are shutting down in Ontario. This decision comes after the surge of the Omicron variant of Corona in the country. However, the layoff is said to be a temporary one.
Primark
Founder – Arthur Ryan Founded – 1969 Laid Off – 400 (January 2022)
Primark Logo
The UK-based multinational fashion retailer Primark has decided to cut off 400 employees of theirs in the month of January. As per reports, the decision was taken to simplify the management structure. As the omicron variant surged and the inflation seems to get serious, the sales of Primark were hit. Now to restructure the company, the layoff was needed.
Conde Nast
Founder – Condé Nast Founded – 1909 Laid Off – 90% of the Workforce
Conde Nast Logo
Conde Nast is one of the biggest global media companies, home to some iconic brands like Vogue, GQ and Vanity Fair. On a quite shocking front, the Magazine giant announced that they will lay off 90% of employees in Russia and will halt the distribution of Vogue Russia and other publications of theirs. The biggest reason for this decision was said to be the Ukraine invasion by Russia. The company has cut off its term permanently with Conde Nast Russia.
Common Reasons for the Layoffs
Big companies and organisations are facing problems and many of them are laying off their employees in response to that. There are multiple reasons, varying from company to company. Some of the common reasons for the layoff are:
Companies are not able to adapt to the situations after the lockdown and pandemic.
Inflation is on the rise again.
Companies facing financial difficulties.
The slowdown of funding in the business world.
The Ukraine invasion by Russia has led many companies to stop doing business with the latter.
The inefficiency of employees.
Restructure and modernisation of a company.
Companies That Have to Freeze Their Hiring
With the economy of the world facing jeopardy and several other reasons, a number of companies have frozen their hiring and they are:
Meta has frozen their hiring and it is said to be lasting through the first quarter of 2023. The main reasons, the company has given are the industry-wide downturn and privacy data changes.
In May 2022, Wayfair froze their hiring for 90 days and again the reason is the situation with the economy of the world.
Twitter freezes their hiring and many of its top employees are getting fired, the sole reason is the ownership change of the company, as it now belongs to Elon Musk.
Google is another company that has slowed down its hiring, though it has not frozen its recruitment yet, as mentioned by Google CEO Sundar Pichai, in the first week of July 2022.
Conclusion
Various companies are taking the step of firing their employees as mentioned above the reason varies from economic conditions to the pandemic to the restructuring of the company, and even the inefficiency of the employees. Apart from all these, there also seems to be a slowdown in funding and pressure by investors to make the company more and more profitable. With the current global economic situation, it seems like the worst is yet to come.
FAQs
What is a layoff?
A layoff simply refers to the termination of an employee of a company. It occurs due to business-related reasons and not because of the employee’s fault. A company may lay off a single employee or multiple employees at the same time.
Why Companies are laying off their employees?
Companies are firing employees for various reasons that vary from economic conditions to the pandemic to the restructuring of the company, and even the inefficiency of the employees.
Which Indian startups are laying off their employees?
Many Indian startups are laying off their employees in 2022, including Udaan, Unacademy, BYJU’S, Vedantu, Meesho, Cars24, Clear, Lido Learning, and more.
Is Meta laying off its employees?
On November 9, 2022, Meta, the parent company of Facebook, Instagram, and WhatsApp, announced that it is laying off more than 11,000 employees, accounting for nearly 13% of its workforce.
How many Twitter employees were laid off?
On November 4, 2022, Twitter laid off about 3,700 employees, accounting for nearly 50% of its global workforce, including 90% of employees in India, following the company’s acquisition by Elon Musk.
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Meta (formerly Facebook) too had its iron lady, who goes by the name Sheryl Sandberg. After Mark Zuckerberg, the 2nd most iconic face of Facebook was Sheryl Sandberg, who served as the Chief Operating Officer of Facebook, joining way back in 2008. During all these years, Sandberg has grown to become quite synonymous with Facebook as is the company’s CEO, Mark Zuckerberg.
After 14 long years of serving as the COO of the company, Sandberg resigned from the post, which she announced on her own Facebook page on June 1, 2022.
Sheryl Sandberg has been hailed on successive occasions by Fortune as one the World’s Most Powerful Women, and with her numerous other honors and philanthropic initiatives along with how she headed the Mark Zuckerberg-led company, Sheryl Sandberg is not only an inspirational woman entrepreneur but a towering figure in the world of startups and businesses for all globally.
If you are curious to learn more about this successful businesswoman, then check out this article ahead, which covers the story of Sheryl Sandberg, her educational background, career, role at Facebook, books authored, Sheryl Sandberg’s net worth, and more.
Sheryl Sandberg – Biography
Name
Sheryl Sandberg
Born
August 28, 1969, Washington, D.C., U.S.
Citizenship
American
Education
Harvard University (AB, MBA)
Title
COO of Facebook (2008–2022), Founder of LeanIn.Org
Board member of
Meta Platforms, Women for Women International, Center for Global Development, SurveyMonkey
Net worth
US$1.5 billion (December 2022)
Husband/Partner
Brian Kraff (m. 1993; div. 1994); Dave Goldberg (m. 2004; died 2015) Tom Bernthal (married 2022)
Born in a Jewish family of Joel and Adele Sandberg in Washington D.C., Sandberg was the oldest of three children. Her father was an ophthalmologist while her mother was a teacher of the French language. As her family went to North Miami Beach, Florida when she was just a toddler, Sandberg was admitted to North Miami Beach High School from where she graduated in 1987 and ranked 9th in her class. Sandberg was the sophomore class president, who eventually became a member of the National Honor Society. Sandberg was also on the senior class executive board. When she was in High School, Sheryl also taught aerobics.
Sheryl Sandberg’s education resume is nothing short of brilliant. She was always excellent in academics and eventually was admitted to Harvard College. Sandberg graduated in 1991, summa cum laude, and Phi Beta Kappa, with a BA with a major in Economics. Sandberg also received the John H. Williams Prize, as the top graduating student from the college in Economics.
Sheryl Sandberg founded the organization, “Women in Economics and Government” while she was still in college. It was at Harvard too that she met Lawrence Summers, who later became her mentor and thesis advisor. Sandberg soon also became a research assistant of Summers at the World Bank. From where her career started. At World Bank, Sandberg was associated with health projects in India that dealt with leprosy, AIDS, and blindness.
Sheryl Sandberg then pursued her MBA at Harvard Business School in 1995 with the highest distinction. She earned her fellowship right in the first year of business school.
Sheryl Sandberg – Career
A Brief Career in McKinsey & Company
Sheryl Sandberg’s career started anew after she completed her MBA. Sandberg first joined McKinsey & Company as a Management Consultant, a role which she served for a year. After leaving McKinsey, Sandberg again worked under Lawrence Summers, who was then the United States Secretary of the Treasury working under President Bill Clinton. The Treasury was then working actively on forgiving debt in the developing world during the Asian financial crisis, which she assisted.
A Major Role in Google as the Vice President of Global Sales and Operations
After 5 years of work for Treasury, Sandberg joined Google in 2001, 3 years after the search engine giant was founded, and rose to the rank of the Vice President of Global Sales and Operations. Furthermore, she was also involved in the philanthropic arm of Google, Google.org.
At Google, Sandberg was responsible for the online sales of advertising and publishing products of Google. She also handled the sales operations of Google’s consumer products and Google Book Search. As Sandberg joined Google quite early in her career, when the search engine giant was far from what Google is now, her role was pivotal in Google. Sandberg in Google, helped the search engine grow the ad and sales team from 4 to 4,000.
Sheryl Sandberg’s Meeting with Mark Zuckerberg and Her Joining Facebook
Mark Zuckerberg and Sheryl Sandberg
Sheryl Sandberg met with Mark Zuckerberg in late 2007. It was a Christmas party held by Dan Rosensweig when Sheryl met Mark, the young founder of Facebook. Though Zuckerberg didn’t have a COO position in mind and neither did he look for the same, Sheryl was still deemed as a perfect fit for this role. This is why Sandberg was offered the position of COO by Facebook in 2008.
Sheryl Sandberg’s Illustrative Career as the COO of Facebook
After her major work with Google, where she has often been described as a “valued member of the Google team“, and a “well-regarded Google executive“, she left the search engine giant to join the social media giant, which was just 4 years old back when she joined in 2008.
Sheryl Sandberg joined Facebook as the Chief Operating Officer of Facebook, the no. 2 leader of the Mark Zuckerberg-founded organization.
Sandberg had a hefty portfolio. Apart from that, she had a fluid and trustworthy relationship with Mark Zuckerberg. Sandberg did all the things Mark hated to do and hence, Mark could focus on what he liked: engineering. Well, it was due to her efforts that he had given her space to be the public face of the company in many areas.
Soon after she joined Facebook, Sandberg quickly figured out smart ways to make the company profitable. Until then Facebook strived to emerge as a cool site without any major revenue model as such, thereby, it lacked profits or a way to make them.
Facebook believed that coolness should be there and profits shall eventually follow. With Sheryl Sandberg in its arsenal, Facebook soon started to rely on advertising and began to present advertisements discreetly, and it was in 2010 that Facebook finally became profitable.
Back then, Sandberg used to oversee almost all the major departments of the social media company Facebook (Meta) including sales, business development, marketing, communications, public policy, and more.
Sandberg had set her sights on the problem of mobile advertising. As Mark had reassigned his engineers to prioritize the mobile applications over the website, Sandberg had controlled the business side of Facebook. She had pushed to simplify the ad formats and had convened biweekly meetings with ad and product executives to balance the user experience with the needs of the marketers.
She gave away the stories of conversations she had with the top executives of various companies to push more into what the situation demanded. The result of Sandberg’s efforts speaks for itself. The shares, which tanked after Facebook’s botched IPO in May 2012 scaled up by 140% to around $50 in recent years. The mobile ads accounted for 41% of Facebook’s $1.6 billion in ad revenue in one of its recent quarters.
The CEO of the company Mark had predicted that the mobile revenue will comprise the majority of Facebook’s business. Therefore, Sandberg had been well rewarded for her contributions. She earned around $26 million in cash and stock in 2012. Sandberg’s Facebook shares and options were about $704 million. Apart from that, she also received an additional $277 million as unvested shares and options.
Sandberg joined the Board of Directors of Facebook in 2012 when she emerged as the first woman to join the Facebook Board of Directors. Though Sandberg held some stakes in the company, it was revealed that she had sold over half of her stocks since the company went public on May 18, 2012.
The Facebook IPO was humongous indeed with a market capitalization of over $104 billion. Facebook’s IPO is still regarded as the biggest among the technology companies and one of the biggest in the history of the internet. Sandberg, who was left with 41 million shares in the company during the time of the Initial Public Offering (IPO) of Facebook, was left with 17.2 million shares after some rounds of sales, which amounted to 0.5% stakes in Facebook then, and worth close to $1 bn.
A few years ago, Facebook landed itself in a tricky business partnership with PayPal. Therefore, whenever the teams were in a tussle, Sandberg would personally reach out to John Donahoe, the CEO of eBay, which owns PayPal. The high-level involvement had removed the differences over time. This resulted in eBay spending far more on Facebook ads.
According to some Facebook executives, even though Sandberg can’t be cloned, she can be emulated. With Sandberg’s efforts, Facebook has turned into a giant in the social media industry and a role model for many other companies, startups, business professionals, CEOs, and other individuals, which was just a young and growing company when she vowed to stay with the team.
Sheryl Sandberg’s leadership style is transformational as she believes in celebrating her employees’ successes and also encourages people to do better work.
Along with Facebook, Sheryl is also known for many other initiatives including Lean In. Sandberg had been serving actively as the COO of Facebook, she had also extended her valuable contributions to the social media giant even after Facebook termed itself, Meta, on October 28, 2021, before she announced her resignation from the post of COO on June 1, 2022.
Sandberg mentioned that the reason is her wish to write the next chapter of her life. She resigned in the fall of 2022. According to Forbes richest list, Sheryl Sandberg is presently worth around $1.5 bn, as of December 2022.
Sheryl Sandberg- Success Story
Sheryl Sandberg and LeanIn.Org
The first Sheryl Sandberg book Lean In has been widely successful. The publication of Sheryl Sandberg’s Lean In, which was focused on business leadership and development and stressed the issues of the lack of women in government and business leadership positions and feminism, ignited an international movement that made feminism mainstream again.
This made her a champion of women’s rights, who advocated gender equality and the name of Sheryl Sandberg soon began to be taken in the same breath as other celebrities like Oprah, Bono, and Michel Bloomberg.
The book, Lean In, has heightened expectations about Sandberg’s post-Facebook life. This book which dealt with the lack of women in businesses and all the challenges they had to face, is truly revolutionary in its own right.
According to Mark, Lean In has done a lot more for the advancement of Facebook than Facebook has done for Lean In. As a result of which while, Mark is a celebrity in his own right and the anti-hero of an Oscar-winning Hollywood movie.
Lean In Foundation or LeanIn.org was founded by Sheryl Sandberg in 2013, as a nonprofit organization. This organization has been founded by the then Meta COO to offer women “ongoing inspiration and support to help them achieve their goals.”
The Lean In organization aims to support women in 3 main ways:
Community
Education
Circles or small and connected peer groups
Lean In has seen the joining of over 380,000+ women and men to its Lean In community and has successfully created 34,000+ Lean In Circles in over 157 countries to date.
Furthermore, Lean In is also responsible for annual national campaigns like #BanBossy and #LeanInTogether. These initiatives were organized to help Lean In accomplish its goals and establish partnerships.
The Lean In Foundation has been renamed to the Sheryl Sandberg & Dave Goldberg Family Foundation, which was kept after the name of Sheryl and her late husband. Sandberg has also reportedly transferred around $100 mn in Facebook stock to fund the organization and other charitable endeavors of Sandberg. It now serves as an umbrella for LeanIn.org and as a new organization around her book Option B.
While some Facebook executives say Sandberg has not missed an opportunity to contribute others say that Lean In was distracting and took much of her time. But, according to them, it was only for a brief period. The book has turned Sandberg into an international sensation. It has truly helped with recruiting and retention of women engineers and executives, which is a major revolution witnessed in recent times.
Presently, women executives also lead the company’s global sales, public policy, mobile engineering, European operations, and many important groups. However, only one of Sandberg’s five direct reports was reported to be female and except for Sandberg, all of Mark’s six direct reports are male. It seems that women still need to draw inspiration from Sandberg!
Sheryl Sandberg as an Author and Speaker
Sheryl Sandberg wrote an article in 2008 in the support of her mentor Lawrence Summers, which was published by The Huffington Post. She was a keynote speaker at the Jewish Community Federation’s Business Leadership Council in 2010.
It was in the month of December, of the same year that Sandberg went ahead for her first TED speech, which focused on empowering women and elevating them as leaders, titled “Why we have too few women leaders“.
Sandberg was also chosen the very next year as the speaker of the Commencement Address of the Barnard College graduation ceremony. She was a keynote on many occasions that followed and delivered the commencement address on several occasions too, including:
The Class Day ceremony at the Harvard Business School in May 2012
The second annual Entrepreneur Weekend at Colgate University, in Hamilton, New York
Berkeley graduation ceremony at the University of California
Virginia Tech’s Class of 2017
Massachusetts Institute of Technology in Cambridge, MA
Sheryl Sandberg released her first book called Lean In Women, Work, and the Will to Lead, which was co-authored by Nell Scovell and published by Knopf on March 11, 2013. The book had sold more than 1 million copies and featured as one of the bestsellers since its launch, in the fall of 2013.
Lean In – Book by Sheryl Sandberg
Though the book has received mixed reviews from critics and others, Lean In has been a career-swirling attempt by Sheryl Sandberg that gave rise to LeanIn.org, which paved the entrepreneurial way for Sheryl Sandberg.
Option B, which was released in April 2017 and co-authored by Adam Grant, was another book written by Sandberg. This book dealt with how to handle loss after she lost her husband unexpectedly. It has also crossed the 2.75 million mark in terms of copies sold.
Option B – Book by Sheryl Sandberg
Sheryl Sandberg also was involved in the signing of an open letter which the ONE Campaign had been collecting signatures for in 2015.
Sheryl Sandberg is serving as a Board member in several reputed organizations including Meta.
Sandberg was named to the Board of The Walt Disney Company, Starbucks, and V-Day. She serves on the Boards as a member of Women for Women International, the Center for Global Development, and Brookings Institution, and Ad Council also had Sandberg on their Boards previously. Sandberg was also known as a member of the advisory board of the Peter G. Peterson Foundation.
She Helped co-found the on-campus group Women in Economics and Government.
Larry Summers, treasury secretary under President Bill Clinton, the director of the National Economic Council for President Barack Obama, and the chief economist at the World Bank was her thesis advisor at Harvard.
She graduated with the highest distinction from Harvard Business School.
She worked at Google before Facebook.
Sheryl Sandberg and Zuckerberg met at a Christmas party.
She was the first woman to be appointed to Facebook’s board.
Sheryl is the author of 2 best-selling books.
Sheryl Sandberg’s house is in Menlo Park and costs over $11 million.
Sheryl Sandberg – Controversies
Sheryl Sandberg has seen her own share of controversies, which were primarily associated with Facebook and her work with the social media company.
Sandberg was a part of the coordinated campaign to restrain Daily Mail from publishing a story about a temporary restraining order that was announced for Activision Blizzard CEO Bobby Kotick, by a former girlfriend, The Wall Street Journal reported on April 21, 2022.
It was also reported that when the order was announced, Kotick and Sandberg were dating. Both of them worked with a team including Facebook and Activision employees to forge a strategy that would help convince the Mail not to publish the article in 2016 and 2019, reports say. Facebook is currently reported to be reviewing if Sandberg actually violated any of the company’s rules during the same occasion.
Sandberg was the face of Facebook when the social media giant was tangled in numerous controversies, like the time following the 2016 US presidential election, when Sandberg faced blowback over issues including the Cambridge Analytica scandal. She was involved in the spread of misinformation, and Facebook’s failures of oversight with regard to everything.
Sheryl Sandberg – An Inspiration
Sheryl Sandberg Ted Talk
It is a no-brainer that Sandberg is an inspiration for everyone. Her entrepreneurial work has fueled the growth of the company and hence, as a result, Facebook is the largest social media platform in the world. She has risen through the ranks and is one of the reasons why Facebook is still a big name across the world dominated by the internet.
Under Sandberg, the team has worked efficiently and had continued to do so, at least till the announcement of her resignation, post which she will continue to be there on the Facebook Board. TheSheryl Sandberg story doesn’t end here but awaits the new beginnings that Sheryl has hinted at while posting about her resignation.
The Sheryl Sandberg foundation known as Sheryl Sandberg & Dave Goldberg Family Foundation aims to build a more equal and resilient world. With the help of two key initiatives LeanIn.Org and OptionB.Org, they bring people together to support each other.
One of the top Sheryl Sandberg quotes is “Feeling confident — or pretending that you feel confident — is necessary to reach for opportunities. It’s a cliche, but opportunities are rarely offered; they’re seized.”
Sheryl Sandberg is popularly known as the COO of Facebook and the author of 2 bestselling books.
What did Sheryl Sandberg study?
Sheryl Sandberg went to Harvard College and has an AB in economics. She is also the recipient of the John H. Williams Prize for a top graduating student in economics. Later on, she pursued her MBA at Harvard Business School in 1995 with the highest distinction.
What is Sheryl Sandberg’s net worth?
As of 2022, the net worth of Sheryl Sandberg is $1.6 billion.
What ethnicity is Sheryl Sandberg?
Sandberg was born to a Jewish family and is the oldest of three children.
What are the books by Sheryl Sandberg?
The 2 books Sheryl Sandberg wrote are Lean In and Option B. Sheryl Sandberg’s book Lean In has frequented the bestseller list.
What did Sandberg do for Facebook?
Since she became the COO at Facebook, she has helped to dramatically increase the social media firm’s revenue.
Who is Sheryl Sandberg’s Husband?
Sheryl Sandberg’s husband is Tom Bernthal.
How many kids does Sheryl Sandberg have?
Sheryl Sandberg has two kids.
What does a COO do?
The chief operating officer (COO) is considered second in the chain of command and is responsible for overseeing the day-to-day administrative and operational functions of a business.
Niku Mandal
