The year 2023 started on a Layoff note. Now, Google Parent Company Alphabet, Citigroup, and General Motors have announced fresh layoffs.
107,780 employees were sacked from various companies this year in January 2023. However, in February 2023 the number has reduced to 47,533 impacted employees. And in March to date, 2,070 employees have been sacked.
Recently, in March top three companies also laid off employees. The details of layoffs are as below:-
Google Parent Company Alphabet fires Waymo employees
An autonomous driving technology company of Google, Waymo will sack 137 employees. This will be bringing total cuts for the year to 8% of its workforce.
Waymo is suspending certain engineering positions. The company is currently focusing on commercial success. The company has a total cut of 209 jobs this year.
Citigroup Cuts Hundreds of Jobs
Recently, Citi announced it has completed the sale of its India consumer business to Axis Bank Limited (Axis). The sale, which Citi and Axis first announced in March 2022, includes credit cards, retail banking, wealth management, and consumer loans, as well as the transfer of approximately 3,200 Citi employees.
Post the merger now, Citigroup will cut hundreds of Jobs. As per the reports, the employees from the investment banking division will be affected by the layoffs.
The layoffs are less than 1 percent of the company’s workforce. At present, Citigroup prides itself in having about 2,40,000-person strong workforce. Recently, other competitors JPMorgan Chase & Co and Goldman Sachs Group have sacked hundreds of employees.
General Motors follows job cut trend, fires hundreds of workers to save costs
General Motors has also announced cutting executive-level and broader jobs. The company will reduce the number of jobs to cut structural costs and increase efficiency. However, the company has not commented on the exact number of layoffs.
The companies are also reviewing the performance of the employees. Recently, Uber sacked employees on the ground of a ‘more rigorous approach’ to performance reviews. However, the company has stated that it will fill the affected roles with new hires.
As of the date this year in 2023, there have been 572 layoffs at tech companies with 157,704 people impacted (2,544 people per day). Last year in 2022, there were 1,535 layoffs at tech companies 241,176 people were impacted.