According to business today, Infosys co-founder Kris Gopalakrishnan has said that layoffs aren’t desirable, but can’t be avoided.
Infosys co-founder Kris Gopalakrishnan said the statement at the All Summit 2023 by Great Place to Work. However, the layoffs have been disheartening.
The IT industry currently employs 5 lakh people. The industry has been continuously adding employees on a net basis over the past 4 decades. According to the current status, over 1 lakh employees have lost their jobs.
Infosys co-founder Kris Gopalakrishnan said, “If the company board or CEO decides to cut 10% of expenses, the easiest way to do it is to cut 10% of the workforce and you immediately meet your goal.”
“That’s mechanical and indiscriminate and could cause damage far beyond what you expect”, Kris Gopalakrishnan added.
“On the other hand, if the layoffs are necessitated by changes and if you it in a humane way, it’s not desirable but it cannot be avoided,” he stated at the summit.
As of date, the latest layoffs of big tech, tech unicorns, and startups have laid off employees. As per trueup.io, so far in 2023, there have been 438 layoffs at tech companies with 130,877 people impacted (3,116 people per day). In 2022, there were 1,535 layoffs at tech companies, and 241,176 people were impacted.
As the layoffs are concerned, The major companies that laid off employees include Amazon, Google, Microsoft, Byju’s, Wipro, Yahoo, Godaddy, and Salesforce laid off a maximum number of workers globally.
Additionally, Disney will layoff 7,000 employees to make business more profitable. The layoffs represent an estimated 3.6% of the company’s global workforce.
Recently, Zoom also announced to sack 1300 employees or roughly 15 percent of the company’s workforce. Additionally, the Zoom CEO’s salary is to be reduced by 98%.
Earlier in November, Amazon announced that will be layoff 10,000 employees. However, the company further added 8,000 employees, and the total layoffs were announced as 18,000 employees.
On the other hand, The IT major Google sacked roughly 12,000 staff. Microsoft and Salesforce laid off 10,000 and 7,000, respectively.