This year seems to have commenced on a bad note for tech workers globally as 91 companies have laid off more than 24,000 tech employees in the first 15 days of this year, signaling a worse start.
Thousands Of Employees Lost Their Jobs
To be specific, 24,151 tech workers lost their jobs, working in companies like Amazon, Salesforce, Coinbase and others, according to the information provided on layoff tracking website Layoffs.fyi.
Last week, Crypto, the lending exchange Crypto.com, announced that it will reduce its global workforce by approximately 20 percent amid ongoing economic headwinds and unforeseeable industry events.
When it comes to India, firm’s like Ola (which fired 200 employees), voice automated startup Skit.ai, dominated the headlines in January.
Job Losses In 2022
During December 2022, more than 17,000 tech employees were shown the door.
It appears that this website has been tracking job losses since the start of the pandemic.
Reportedly, 153,110 workers were let go in 2022, belonging to companies like Meta, Twitter, Oracle, Nvidia, Snap, Uber, Spotify, Intel and Salesforce, among others.
During November, the number of layoffs reached its nadir which saw 51,489 tech workers lose their jobs.
In the coming time, Google is the Big Tech company which is likely to take harsh steps to reduce its headcount in early 2023.
Economic Slowdown Not Helping
Currently, the tech industry is struggling to sail through the ongoing economic slowdown.
The past year 2022 was also difficult with post-pandemic market impact, stagnant revenue growth, and uncertainty of recession.
In the company’s defense, they are trying to manage the expenses amid all the chaos.
During this time, almost all the big heads, including Amazon, Twitter, Meta, Apple and Google fired employees to cut down on cost and restructure the teams.
Yess, the things were bad but the new year 2023 doesn’t seem to bring any difference.
On one side, the fear of recession is on the doorsteps, on the other side, the market is still not stable and the layoffs are back.
Amazon announced that it has already fired Thousands of employees across the globe.
In case of Twitter, the firm is still laying off teams in phases.
Even the India-based companies like Ola and Dunzo are slashing hundreds of employees to reduce costs.
