Tech Companies Layoffs: The recent news of layoffs coming in the world’s tech companies is very frightening. Most of the employees of tech companies are worried that when the sword of retrenchment will start hanging in their company. Amidst the sound of economic crisis in the world, the phase of retrenchment is going on in big companies, due to which the question is arising whether the shadow of economic recession is starting to fall?
Layoffs are happening in other big companies from world’s big tech companies
After companies like Google, Facebook and Amazon, now German business application software maker SAP will lay off 2.5 per cent of its total workforce globally. SAP is laying off around 3000 employees. Not only this, to deal with the economic crisis, SAP has also made preparations to show the way out to more than 200 staff in Germany.
SAP joins the list of Google, Microsoft, Amazon
With the announcement of this retrenchment, SAP has now joined the list of Alphabet-owned companies like Google (Google), Microsoft (Microsoft), Amazon (Amazon) and Meta, which have laid off thousands of people in recent times. . Every company has blamed the economic crisis behind the retrenchment.
IBM Corp – 3,900
Alphabet – 12,000 employees
Amazon – 18,000 employees
Meta – 11,000 employees
Twitter – 4,000 employees
Microsoft – 10,000) Employees
Around 3900 employees laid off in IBM
Google, Amazon, Meta, Microsoft, IBM, SAPS Salesforce, Spotify and other tech firms have recently announced mass layoffs. European software giant SAP announced on Thursday that it is cutting about 2,900 jobs. At the same time, IBM has talked about laying off about 3,900 employees.
Expectation of hiring in tech companies in America
Despite the continuous reduction of jobs by tech companies, the demand for positions in these companies has not reduced in America. Eight out of the top 10 best jobs this year are technology-related jobs. According to data from job portal Indeed, tech jobs in high demand are topped by full-stack developers, followed by data engineers, cloud engineers, senior product managers and back-end developers. Nearly half of the top 25, or about 44 percent, had tech jobs in the US market, reported CNBC, citing the data. Industries like Retail, Finance, Professional Services, Travel, Government, Aerospace, Health Care are looking for people with tech skills.
Results are indicating recession
This is the first time since the initial days of the Kovid epidemic that more and more business leaders have estimated to reduce jobs in their firms. According to NABE President Julia Coronado, the results indicate a recession this year. So far this year, more than 166 tech companies have sacked more than 70,000 employees.
Fear of widespread layoffs in 2023
In 2023, layoffs are being done on a large scale. According to a CNN report citing a new survey, only 12 per cent of economists polled by the National Association for Business Economics (NABE) forecast that their firms would increase employment in the next three months, up from this fall. is less than 22 percent.
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