The year 2023 has been a year of layoffs over 3 Lakhs employees (1,600 people per day) were laid off in 2023.
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.
Month Wise Layoffs:
|Month Of Layoffs/2023||Number of Laid-ff employees|
|Total Layoffs in 2023||321,554|
Microsoft resulted in as many as 276 employees losing their jobs, including a now-former staffer who claimed this was the third layoff of her professional career.
Uber is sacking 35 percent of its workforce from the recruitment team. Earlier, the company laid off 150 jobs in its freight services division.
Goldman Sachs Group is expected to cut 250 jobs in the coming weeks, said a report. The layoffs are expected to be spread across seniority levels and include partners and managing directors.
Disney has also begun more cuts, affecting about 2,500 workers. The firm announced in March that it would eliminate 7,000 jobs as it worked to rein in costs.
Meta is cutting employees in its business segments. The layoffs come a month after cuts targeted the Facebook parent’s core tech jobs and are part of a 10,000-employee layoff announced in March.
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.
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.
So far in 2023, there have been 1,275 layoffs at tech companies with 321,554 people impacted (1,600 people per day).
In 2022, there were 1,557 layoffs at tech companies 243,318 people impacted (667 people per day).