Within The Next Hour…: GoDaddy Joins Layoff Spree, 8% Of Global Team Fired

“Within the next hour, impacted team members will receive a meeting invite from their leadership to learn the details of their transition, aligned with local employment processes," he wrote on February 8.

The move affected around 530 staffers - mostly in the US - spanning multiple levels in the company and every division. The company has around 6,600 employees across the world.

Bhutani said that the move was also intended to help improve integration of three brands – Media Temple, Main Street Hub and 123 Reg – into GoDaddy.

Also read: Who is at risk in IT sector and which profiles are isolated as layoffs continue?

The laid off employees are being offered a transition package in line with local norms. In the US, former staffers will be given 12 weeks of paid administrative leave with continued core benefits coverage, eligiblility for two additional weeks of severance per year worked (with a minimum of four weeks), extended healthcare benefits, as well as outplacement and immigration support.

Tens of thousands of workers have been laid off in recent months as an ever-growing list of companies initiate workforce reduction and cost-cutting measures. Earlier this week, video conferencing platform Zoom announced plans to lay off around 1300 people as part of a 15% workforce reduction.

Meanwhile, Boeing said it expects to cut about 2,000 corporate jobs, while Dell Technologies is reportedly planning to eliminate around 6,650 positions.

According to a Reuters report, SoftBank Group Corp's chip technology firm Arm Ltd's China joint venture has laid off 90-95 employees last week to cope with a challenging business outlook this year. The layoffs come as SoftBank tries to set up a public listing for Arm this year, with most of the affected employees being engineers in research and development.