Bad News For Techies! 853 IT Firms SACK Over 137,492 Workers, More Job Cuts Coming

Lay Off, Job Cuts: Alphabet, Google's parent company, is reportedly gearing up to lay off about 10,000 "poor performing" employees, or 6 per cent of its workforce. 

Published: November 24, 2022 6:02 PM IST

By India.com Business Desk | Edited by Surabhi Shaurya

BBC announces lay offs, digital first, restructuring, downsizing, digital media, lay offs
In June this year, the Bengaluru-based firm, which is planning to launch its initial public offering (IPO) in the next 12-18 months, also sacked 180 employees.

New Delhi: Amid the global meltdown, at least 853 tech companies across the globe have sacked approximately 137,492 employees so far, and the tally is only going upward owing to the recession fears. Data from layoffs.fyi, a crowdsourced database of tech layoffs showed that 1,388 tech companies have fired a total of 233,483 employees since the onset of Covid-19, but 2022 has been the worst for the tech sector.

Also Read:

In the US tech sector, companies like Meta, Twitter, Salesforce, Netflix, Cisco, Roku, and others have sacked 73,000 workers. Robinhood, Glossier, and Better are just a few of the tech companies that have notably trimmed their headcount in 2022, according to Crunchbase.

Later, Amazon and PC and HP Inc also joined the bandwagon and announced to lay off more than 10,000 and up to 6,000 employees in days to come, respectively. Moreover, Amazon CEO Andy Jassy warned employees that there will be more layoffs at the company in early 2023 “as leaders continue to make adjustments”.

Alphabet, Google’s parent company, is reportedly gearing up to lay off about 10,000 “poor performing” employees, or 6 per cent of its workforce.

In India, nearly 16,000 employees have been asked to go by about 44 startups, led by edtech companies like BYJU’S, Unacademy, and Vedantu, as VC funding dried up. Other tech startups and unicorns that have laid off employees in India include Ola, Cars24, Meesho, LEAD, MPL, Innovaccer, Udaan and more.

Meanwhile, thousands of contractual employees have also been let go, making 2022 the harshest year for workers in the technology sector.

(With IANS Inputs)

For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Read more on Latest Business News on India.com.

Published Date: November 24, 2022 6:02 PM IST