The year 2023 has become the worst year for tech employees. In the current year, nearly 2 lakh tech employees from Big Tech firms to startups have been sacked to date globally.
The major layoffs in May are as below:-
- JioMart fires 1,000 employees and more than 9000 jobs are at risk that can be laid off in the coming weeks.
- BT Group has planned massive layoffs to cut up to 55000 jobs and some of these jobs will be replaced by artificial intelligence.
- Vodafone has decided to cut 11,000 jobs over the next 3 years. The job cuts equate to about 12 percent of the total workforce.
- LinkedIn is cutting 716 positions and shutting down its jobs app in mainland China, the California-based company announced.
- Teachmint has laid off 70 more employees in the second round of layoffs in six months.
- Shopify CEO Tobi Lutke announced that the company will lay off 20 per cent of its workforce which will impact over 2,000 of its employees.
- Meesho will sack 15% workforce or 251 employees. This is the second round the company will cut jobs in just over a year. Earlier, the company laid off 150 workers around the same time last year.
- According to reports, Cognizant will lay off 3,500 employees. However, as of now the exact number of people impacted in India is still unclear.
Apparently, major tech companies are laying off employees exponentially due to economic uncertainties. The move of layoffs is part of a larger trend of tech companies cutting jobs and slowing hiring as investors become increasingly fearful of a recession. Tech companies have either frozen the hiring process or laid off many employees.
In January alone this year over 1 lakh tech employees lost jobs globally by companies including Amazon, Microsoft, Google, Salesforce, and others.
As per the data by layoffs tracking site Layoffs.fyi, nearly 2 lakh people have lost jobs. The exact figures are “695 tech companies” have sacked 1.98 lakh employees so far this year. In comparison, 1,046 tech companies laid off more than 1.61 lakh employees in 2022.
