For tech workers across the globe, the new year started on a heavy note and 91 companies have laid off more than 24,000 tech employees in the first 15 days this month, signalling more difficult days ahead.
Approximately 24,151 tech employees were laid off, which were majorly dominated by companies like Amazon, Salesforce, Coinbase and others, according to layoff tracking website Layoffs. fyi.
Last week, crypto lending exchange Crypto. com announced that the company will reduce its global workforce by approximately 20 per cent amid ongoing economic headwinds and unforeseeable industry events.
In India, companies like Ola (which fired 200 employees), voice automated startup Skit. ai, dominated the headlines this month.
As per the website, which tracks job layoffs since the beginning of the pandemic, 153,110 workers were laid off in 2022, majority of them by companies like Meta, Twitter, Oracle, Nvidia, Snap, Uber, Spotify, Intel and Salesforce, among others.
The number of job losses reached its peak in November, which saw 51,489 tech workers lose their jobs.
The Deccan Herald reported that Google is another giant tech company expected to take harsh steps to reduce its employee count by 11,000 in early 2023.
In another report, tech giant and search engine, Google, is expected to take drastic measures to lessen its workforce in early 2023.
The top search engine company is firing its employees over ‘not having enough impact’ in the organisation. The layoff trend is also growing due to the estimation of a global recession in late 2023, which has deepened the fear of economic slowdown and uncertainty.
As per to a report by The Information, around 6 per cent of Google employees may be let go for “not having enough impact.”
Up to 11,000 jobs could be cut at Google in 2023 due to layoffs at Google layoffs in 2023 layoffs at Google layoffs in 2023 redundancies.
It implies that 2023 is likely to become the worst year in the history of the tech world.
At the end of this month, the Big Tech quarterly results will be released, and they are eagerly awaited by the analysts across the globe.
According to experts, the layoff trend emerged post-pandemic, after which companies worldwide started imitating each other. As claimed by several Multinational tech firms, the layoff trend is set to worsen in 2023 amid ongoing global macroeconomic factors.
