2 lakh tech workers to lose their jobs by 2023, more on offer
According to layoff tracking site Layoffs.fyi Dwara, 695 tech companies have shed nearly 1.98 lakh employees this year.
2023 is shaping up to be the worst year for tech workers as nearly 2 lakh tech workers from big tech firms to startups have been laid off globally, as companies such as Meta, BT, Vodafone and others have announced plans. Lay off more employees in the coming months
According to data by Layoffs.fyi, a layoff tracking site, 695 tech companies have laid off nearly 1.98 lakh employees this year.
In comparison, 1,046 tech companies laid off more than 1.61 lakh workers in 2022.
In January of this year alone, nearly 1 million tech workers lost their jobs globally, dominated by companies like Amazon, Microsoft, Google, Salesforce and others.
Overall, around 3.6 lakh tech workers have lost their jobs now through 2022 and May this year.
As more and more big tech companies continue to lay off employees, they list a variety of reasons behind the move — overemployment, uncertain global macroeconomic conditions, strong tailwinds from the Covid-19 pandemic and more.
Meta (formerly Facebook) will reportedly begin laying off more employees in a third round of layoffs next week.
The company is expected to cut around 6,000 jobs in this round, although the exact number is not confirmed.
Amazon India supports verticals this month by laying off around 400-500 employees from its cloud division AWS and People Experience and Technology Solutions (PXT) or HR.
Fintech unicorn Jefferies is laying off 420 employees, or 26 percent of its workforce.
UK telecoms giant BT Group has announced plans to cut 55,000 jobs by the end of the decade.
Global telecoms carrier Vodafone has said it plans to cut 11,000 jobs over the next three years in a bid to "simplify" both its headquarters and local markets.
Meanwhile, Microsoft will not offer any raises to salaried employees, including senior leaders, as global macroeconomic conditions continue to weigh on big tech.
