Recession Jolts Tech INdustry

965 IT firms have fired more than 150,000 workers globally this year

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Cisco has fired 5% of its workforce, which is more than 4000 of its employees.The IT giant has not commented on the matter.

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In early November, Meta laid off over 11,000 employees.It reduced its workforce by 13% and instituting a hiring freeze that will last until the first quarter of 2023.

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Microsoft

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Amazon plans to lay off 20,000 employees.
Amazon’s device organisation, including Alexa, retail division and human resources, will be targeted for layoffs.

The Hewlett-Packard Company (HP) decided to axe 6,000 employees due to low demand in PC segment

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Salesforce jobs cuts impacted 2,500 jobs in major round of layoffs.
Salesforce said in a filing that headcount rose 36% in the past year and needed resizing

Goldman Sachs is also planning to cut 3900 jobs and will start laying off employees in January

Why Layoffs are happening?

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Recession Jolts Tech INdustry

965 IT firms have fired more than 150,000 workers globally this year

Cisco has fired 5% of its workforce, which is more than 4000 of its employees.The IT giant has not commented on the matter.

In early November, Meta laid off over 11,000 employees.It reduced its workforce by 13% and instituting a hiring freeze that will last until the first quarter of 2023.

META

Microsoft

Microsoft continues layoffs, sacks nearly 1,000: reportThis is the third layoff by the company in recent times. According to Axios, the layoffs took place across different levels and teams across the world.

Amazon plans to lay off 20,000 employees.
Amazon’s device organisation, including Alexa, retail division and human resources, will be targeted for layoffs.

Amazon

The Hewlett-Packard Company (HP) decided to axe 6,000 employees due to low demand in PC segment

Salesforce jobs cuts impacted 2,500 jobs in major round of layoffs.
Salesforce said in a filing that headcount rose 36% in the past year and needed resizing

Goldman Sachs is also planning to cut 3900 jobs and will start laying off employees in January

Why Layoffs are happening?

Due to economic uncertaininty profitability has taken centerstage & Layoffs are a part of a plan used by tech companies to stay profitable through 2023 and beyond.

Recession Jolts Tech INdustry

965 IT firms have fired more than 150,000 workers globally this year

Cisco has fired 5% of its workforce, which is more than 4000 of its employees.The IT giant has not commented on the matter.

In early November, Meta laid off over 11,000 employees.It reduced its workforce by 13% and instituting a hiring freeze that will last until the first quarter of 2023.

META

Microsoft

Microsoft continues layoffs, sacks nearly 1,000: reportThis is the third layoff by the company in recent times. According to Axios, the layoffs took place across different levels and teams across the world.

Amazon plans to lay off 20,000 employees.Amazon’s device organisation, including Alexa, retail division and human resources, will be targeted for layoffs.

Amazon

The Hewlett-Packard Company (HP) decided to axe 6,000 employees due to low demand in PC segment

Salesforce jobs cuts impacted 2,500 jobs in major round of layoffs.Salesforce said in a filing that headcount rose 36% in the past year and needed resizing

Goldman Sachs is also planning to cut 3900 jobs and will start laying off employees in January

Why Layoffs are happening?

Due to economic uncertaininty profitability has taken centerstage & Layoffs are a part of a plan used by tech companies to stay profitable through 2023 and beyond.

Amazon plans to lay off 20,000 employees.
Amazon’s device organisation, including Alexa, retail division and human resources, will be targeted for layoffs.

Salesforce jobs cuts impacted 2,500 jobs in major round of layoffs.
Salesforce said in a filing that headcount rose 36% in the past year and needed resizing