Is 2022 a year of layoffs? Companies layoff nearly 70,000+ people

Layoffs are a difficult decision for companies but 2022 has been a year of layoffs. Top tech companies have either frozen the hiring process or laid off employees.

Below is the list of companies that Laid off employees

• Amazon– layoffs nearly 10,000 employees. However, as per recent reports, the number may increase to 20,000.
• Meta– announced that the company is laying off more than 13% of its staff, or more than 11,000 employees.
• Twitter laid off 50% of the workforce or 3,500 employees.
• Wipro– laid off 300 employees due to moonlighting. The Other two IT companies Happiest Minds Technologies & Infosys also laid off employees but the exact number is unknown.
• IT companies Cognizant &  Accenture also laid off employees due to failed background checks.
• Alibaba: Alibaba laid off nearly 10,000 employees to cut expenses and the slowing economy.
• Better.com: The company conducted three mass layoffs in about five months. The company reduced its workforce by half and laid off 5,000 employees.
• Byju’s-Edtech unicorn Byju announced in October that it will terminate 5 percent of its workforce (2,500 employees), over the next six months.
• Morgan Stanley– American multinational financial services company Morgan Stanley laid off about 1,600 employees.
• PepsiCo– An American multinational food, snack, and beverage company, PepsiCo Inc plans to lay off hundreds of workers from its headquarters in the North American snacks and beverages division.
• Hirect– A leading job portal in India, Hirect has sacked nearly 200 people which is 40 percent of the total workforce.
• HP– An American multinational information technology company, HP is planning to lay off nearly 4000 to 6,000 employees.
• Cisco– will be laid off more than 4,000 employees.
• Unacademy– has slashed 350 employees this November. Earlier, In April, the company laid off about 1,000 contractual and full-time workers. 
• Philips– has said that the company will lay off nearly 4,000 jobs. Followed by many more companies.

Amid layoffs and retrenchment across various sectors in the country including in IT, Minister Bhupender Yadav has said that Layoffs are deemed illegal if not carried out as per Industrial Disputes (ID) Act.