2023 Layoffs Surpassed Great Recession Level: This year, from the country to abroad, tech companies have laid off on a large scale (Tech Firms Layoff). According to a report, there have been so many layoffs across the world that even the great recession of 2008 has crossed this figure. At the global level, 965 tech companies have fired more than 1 lakh 50 thousand employees this year.
Amid fears of a major recession in the US, big tech companies like Meta, Twitter, Netflix, Microsoft, Snap and others have laid off a large number of their employees. According to the information, tech companies have done so many layoffs so that in 2023 their business is not affected much and they do not have to face loss in business.
More layoffs than the 2008 recession
According to a report by IANS, this figure of retrenchment of employees this year shows that during the Great Recession of 2008, so many people did not lose their jobs. In 2008 to 2009, tech companies had laid off around 65,000 employees and in 2009 the same number of workers had lost their livelihood.
The situation may become more serious in 2023
This situation is going to get worse next year as per the ongoing financial situations in Meta, Amazon, Twitter, Microsoft, Salesforce and other companies. In such a situation, some more employees may be laid off. The report of Marketwatch states that a major reason for the retrenchment of employees is that they want to retain their position in 2023.
2.46 lakh employees lost their jobs after the Kovid-19 epidemic
According to layoffs.fyi data, a crowdsourced data for tech layoffs, 1,495 firms have laid off 246,267 employees since the Kovid-19 pandemic, but 2022 has been the worst year in the tech field. In such a situation, it is being said that even in 2023, the situation may become more serious. During mid-November itself, US tech companies Meta, Twitter, Salesforce, Netflix, Cisco, Roku and others have fired 73 thousand employees. At the same time, more than 17 thousand employees in India are about to lose their jobs.
Google is also considering to remove employees
Amazon and HP Inc are also preparing to lay off their employees. In the coming days, 20 thousand and more than 6000 employees can be fired. Meta has also started the process of laying off 4,000 employees globally. At the same time, Google’s parent company Alphabet is considering laying off 10,000 employees globally.