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Tech companies across globe continue laying off employees: Millions have been fired within the past few months

NEWS HUNGAMA
Kolkata, January 19, 2023, News Hungama

Microsoft Corp. and Amazon.com Inc., two of the world’s biggest companies, began cutting a total of 29,000 jobs on Wednesday in a post-pandemic reckoning that has left almost no tech name unscathed.

The software giant began notifying some of the 11,000 workers that will lose their jobs this quarter, while Amazon started sending out emails to people who are among 18,000 people whose positions will be eliminated.

Both companies said the painful measures were necessary to offset slowing sales and a possible recession. The tech industry benefitted during the pandemic from a surge in demand for computers, phones, software and goods ordered online, leading to a frenetic pace of hiring.

Salesforce Inc. announced earlier this month that it would cut about 10% of its workforce after acknowledging that its workforce nearly tripled in the past four years.

Facebook parent Meta Platforms Inc. announced widespread job cuts last fall, and beleaguered social network Twitter Inc. has slashed about half its workforce.

Adobe announced job cuts as well, though it impacted around 100 jobs, so this was at a much smaller scale. Cisco systems plan to cut 5% of jobs as well. Last year, companies like Snap– parent company of Snapchat, Lyft, and DoorDash also announced job cuts affecting several employees.

HP announced 6000 job cuts, which will take over the next three years as demand for PCs declines. Chipmaker Intel also plans similar job cuts, which will take place over the years.

Seagate Technology Holdings, known for computer hard drives, announced job cuts which would impact 3,000 employees. US-based Payments company Stripe’s job cuts would impact 14 per cent of its staff.

While Apple and Google have not announced job cuts as of now, hirings have been paused in Cupertino’s case. Meanwhile, Google CEO Sundar Pichai reportedly told employees to prepare for tough times and to cut back on unnecessary expenses.

In India, the ed-tech sector has also been deeply impacted by job cuts. From Byju’s to Unacademy thousands have lost jobs there too.

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