2023 is the year of layoffs, top leading companies have been laying off thousands of employees. Recently, KPMG has laid off 2,000 US workforce and Deutsche Bank to reduce 1700 jobs.
KPMG has laid off 2,000 jobs
One of the Big Four accounting organizations, KPMG is laying off 5% of its U.S. employees due to “economic uncertainty.”
Earlier in February, the company had cut about 2% of its U.S. workforce. The firm had over 39,000 employees in the U.S. at the end of its last fiscal year on Sept. 30.
Deutsche Bank to reduce 1700 jobs
A German multinational investment bank and financial services company, Deutsche Bank will be cutting 10% of its 17,000 German retail jobs over the next few years.
The reduction in retail jobs is in the planning phase and is still subject to discussions with unions and worker representatives.
The move of layoffs is part of a larger trend of tech companies cutting jobs and slowing hiring as investors become increasingly fearful of a recession. Tech companies have either frozen the hiring process or laid off many employees.
Amazon sacked 27,000 employees in the last three months. The major companies that laid off employees include Infosys, Amazon, Google, Byju’s, Wipro, and Salesforce laid off a maximum number of workers globally.
Recently, the consulting giant Accenture shocked the industry by announcing plans to trim its workforce by 19,000 globally including India over the next 18 months.
