According to data from layoff tracking site Layoffs.fyi, Tech layoffs in 2023 surpassed the entire total from 2022 in early April this year. In first quarter of 2023, 166,004 employees laid off, and to date 695 tech companies have fired around 1.98 lakh employees.
Last year, 1,046 tech companies laid off more than 1.61 lakh employees. In January alone this year, around 1 lakh technical employees globally lost jobs. Companies laying-off employees include Amazon, Google and Microsoft. From 2022 to May–2023 , about 3.6 lakh technical workers have lost jobs.
Companies citing reasons for layoffs are — over-hiring, uncertain global macroeconomic conditions, etc. Meta ( formerly Facebook ) is reportedly going to start retrenchment of more employees in its third round of job cuts next week. It is expected that the company will lay off about 6,000 employees in this round.
Amazon India has fired around 400-500 employees from various departments this month. Fintech Unicorn Jeps is retrenching 420 employees, or 26 percent of its workforce. UK telecom giant BT Group has announced plans to cut 55,000 jobs by the end of the decade.
Global telecom carrier Vodafone said it plans to reduce 11,000 jobs over the next three years with the aim of simplifying both headquarters and local markets. Meanwhile, Microsoft has denied any details in the salaries of its employees this year.
Early this month, it was reported that Shopify is laying off 20% of its employees. It previously cut 10% last July. LinkedIn is laying off 716 employees, which is 4% of its total workforce.
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