So far in 2023, already around 2 lakh IT workers have been let go worldwide. But even after that, companies like Meta, BT, Vodafone, have declared additional plans to let go more workers till the year ends.
Since approximately 2 lakh IT workers have been let go worldwide, from Big IT businesses to startups, in 2023, it has become the worst year for tech workers. Companies like Meta, BT, Vodafone, and many more have declared additional plans to let go more workers in the following months.
According to data from the layoffs monitoring website Layoffs.fyi, 695 IT businesses have fired 1.98 lakh people so far this year. In contrast, almost 1.61 lakh people were let go by 1,046 IT businesses in 2022. Nearly 1 lakh IT workers lost their jobs in January alone this year, mostly at firms like Amazon, Microsoft, Google, Salesforce, and others.
Up till May of this year, 3.6 lakh tech workers nationwide had lost their employment. They cited a variety of factors, including overhiring, hazy global socioeconomic conditions, the Covid-19 outbreak, and more, as more and more Big Tech businesses kept firing staff. According to reports, Meta (previously Facebook) will begin terminating additional workers as part of its third wave of layoffs next week.
Although the precise number has not been determined, it is anticipated that the corporation would let go of about 6,000 workers in this round.
Amazon India laid off 400–500 AWS cloud professionals from its People Experience and Technology Solutions (PXT) HR and support verticals this month. Zepz, a financial unicorn, is firing 26% of its personnel, 420 individuals.
BT Group, the UK’s largest telecom corporation, plans to cut 55,000 jobs by the decade’s end. Vodafone plans to shed 11,000 jobs over three years to “simplify” corporate operations and regional markets.
Due to the global financial crisis, Microsoft employees, including top executives, will not not an increment in their salaries this year.
