More than 17,400 employees in the tech industry have lost jobs in the month of February globally to date, with many workers in India receiving pink slips amid deepening global macroeconomic conditions.
In 2023 so far, around 340 companies have laid off more than 1.10 lakh employees worldwide, and there appears to be no respite from job cuts.
Major companies which commenced layoffs this month include Yahoo, BYJU’s, GoDaddy, GitHub, eBay, Autodesk, OLX Group and others.
In January, close to 1 lakh of them lost jobs in the month of January globally, dominated by companies like Amazon, Microsoft, Google, Salesforce and others, according to layoff.fyi, a website that tracks job cuts globally.
More than 3,300 tech employees lost jobs daily on an average by more than 288 companies worldwide in January alone.
More job cuts are likely coming in days to come amid recession fears.
After firing 11,000 employees in November last year, Meta (formerly Facebook) is reportedly planning to reduce headcount further in its “year of efficiency”.
Aviation giant Boeing is slashing 2,000 jobs in finance and HR verticals this year and the company outsources about a third of those jobs to Tata Consulting Services (TCS) in Bengaluru.
In 2022, over 1,000 companies laid off 154,336 workers, as per the data by layoffs tracking site Layoffs.fyi.
So far, more than 2.5 lakh tech employees have lost jobs.
Source - IANS
-Agencies
