A new report has revealed that in the year 2022, more than 1000 companies have laid off as many as 154,336 workers,
In January alone, 219 companies have laid off more than 68000 employees across the globe.
Massive Global Layoffs: 3400 Employees Laid Off Every Day in January
In 2023, the tech industry was still experiencing a layoff season, and notable companies like Microsoft and Google joined the list. On average, 3,400 or more tech workers are being let go worldwide each day in January.
Data from the layoffs tracking website Layoffs.fyi shows that 219 businesses have fired more than 68,000 workers so far in January.
154,336 employees were let go by more than 1,000 companies in 2022, according to data from the layoffs monitoring website Layoffs.fyi.
The 2022 mass tech layoffs are still going on in the new year. The frequency of the firings has increased as concerns about a global economic recession have grown.
As per reports, in 2023, there will be more substantial layoffs as most business economists anticipate that their companies will reduce payrolls in the near future.
For The First Time Ever, More Business Executives Foresee Job Losses
Only 12% of economists, down from 22% this fall, believe that employment will rise at their companies over the next three months, according to a survey conducted by the National Association for Business Economics (NABE).
For the first time since the early stages of the Covid pandemic, more business executives foresee job losses at their companies.
According to Julia Coronado, president of NABE, the findings show that “widespread concern about entering a recession this year” exists.
Around 200,000 IT workers have been laid off since November last year, including some record numbers in companies like Google, Microsoft, Facebook and Amazon, as per another media report. According to some industry insiders, between 30 to 40 percent of them are Indian IT professionals.
3900 IBM employees have also been subjected to a massive layoff, as a part of some asset divestments.
Amazon plans to lay off around 1,000 employees in India as part of its global retrenchment drive. Globally, the company announced that it would cut approximately 18,000 jobs due to uncertain economic conditions.
Adding oil to the fire is Google. As per reports, a crucial step in obtaining an employer-sponsored green card, the Program Electronic Review Management (PERM) process, has been put on hold by Google.
Google has informed its foreign workers via email that it will halt all new PERM applications, leaving them in a precarious situation.
