Wednesday, March 29, 2023
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Close to 1 lakh tech employees lost jobs in January

In what could be touted as the worst month ever for tech workers, close to 1 lakh of them lost jobs in the month of January globally, dominated by companies like Amazon, Microsoft, Google, Salesforce, and others.

It means that more than 3,300 tech employees lost jobs daily on average by more than 288 companies worldwide.

Barring Apple, every other Big Tech firm has slashed jobs, led by Amazon with 18,000 job cuts, followed by Google with 12,000, and Microsoft with 10,000 job cuts in January.

Also Read: Over 1,600 tech employees were fired a day on average in Jan

Salesforce (7,000), IBM (3,900), and SAP (3,000) were other tech companies that announced layoffs last month.

In 2022, over 1,000 companies laid off 154,336 workers, as per the data from the layoffs tracking site

So in total, more than 2.5 lakh tech employees have lost jobs in 2022 and now. As more and more Big Tech companies continue to sack employees, they listed various reasons behind the move — over-hiring, uncertain global macroeconomic conditions, strong tailwinds from the Covid-19 pandemic, and more.

After laying off 11,000 employees, Meta Founder and CEO Mark Zuckerberg now want 2023 to be the “year of efficiency”.

Joining the mass layoff season, online marketplace OLX Group slashed 15 percent of its workforce, or more than 1,500 employees, globally including in India as part of restructuring amid the global meltdown and recession fears.

Edtech major BYJU has laid off a further 15 percent of its employees from its engineering teams. According to sources, the company in a fresh round of layoffs asked more than 1,000 workers (or 15 percent) to go, mostly from its engineering teams.


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