Several media houses, including NBC News, MSNBC, CNN, Paramount Global, The Walt Disney Company and others, have been firing employees. Sports Illustrated is the latest media company to join the list.

It recently laid off top editors, including executive editor Adam Duerson, among 17 workers amid the deepening global macro-economic conditions.

Duerson took to Twitter to reveal that he has been asked to leave his position. He wrote, “Folks, I'm done. I've joined the esteemed ranks of former @SInow editors -- a brilliant and vast group whose members have each deserved better, but who were PAID (!!) to think and dissect and parse and nitpick. Imagine that. It was surreal to the last second.”

Besides his tweet, an internal memo was also obtained by The New York Post. It revealed that Ryan Hunt, the co-editor-in-chief, who has been with the media house for 25 years, will be retiring in March.

"We are saying goodbye to 17 colleagues and have created 12 new openings to reflect the new needs of the Sports Illustrated (SI) business," read the memo.

"The changes announced here will allow us to continue to respond and address those evolving audience needs. It is critical that we invest in the growth areas of our brands while maintaining the expectations of our existing and long-time consumers," the memo read.

Other fired staff too went on social media to share that they have been terminated. "I was laid off by Sports Illustrated... I came here as a nervous and awed 22-year-old fresh out of college and leave nearly 9 years later having grown immensely. I've worked with so many tremendous people and I'm really proud of everything we accomplished," wrote Molly Geary, sports editor. 

Not just the tech industry, the media and entertainment industry worldwide has also been hit with job cuts as advertisers reduce spending amid the global economic slowdown.