Apple Twitter layoff: Skilled workers are less, yet tech companies are doing layoffs, Apple fired 100, Twitter also stirred.
Apple Twitter layoff: Despite the shortage of skilled workers, layoffs continue in large tech companies around the world. These include companies like Google, Microsoft, Twitter, Apple, Tesla, Uber, Metaverse and Amazon. The giant American company Apple has recently shown the way out of 100 contract employees, while there is also a stir in Twitter, the pace of recruitment has been slowed down here.
Despite the attrition rate being very high, these companies are doing layoffs. The three main reasons for this are… rising inflation, fears of a global recession and increasing interest rates by central banks around the world. In addition, these companies are preparing to cut spending, battling cost escalation due to the Russo-Ukraine war, supply chain problems and rising inflation.
Skill shortage highest in 16 years
In fact, due to the continuous strengthening of the US dollar, pressure on local currencies is increasing. Due to this companies have to spend more than before. In such a situation, recruitment is not being done to avoid expenses. With this, the shortage of skilled workers in tech companies around the world has reached a 16-year high.
Reduced earnings increased headache
During the Corona epidemic, heavy-earning tech companies have suffered a major setback in the second quarter of the current financial year. Google’s parent company Alphabet reported lower-than-expected earnings for the second quarter in a row. During this period, the company’s profit declined to $ 16 billion from $18.5 billion in the second quarter of 2021-22. In addition, the company’s revenue growth rate declined from 62 per cent to 13 per cent.
Metaverse’s revenue declined for the first time in a quarter. During this period, there was also a decrease of 36 per cent in profits.
Twitter’s revenue also declined 11 percent, while Microsoft’s earnings growth slowed.
40% employees less than two years old
40 per cent of the employees of tech companies in India are less than two years old. This means that there is a continuous movement of employees here as well.
India’s position better than major markets
India’s position is better than America. Compared to other countries, there is no dearth of skilled workers here. Employees working from home are no longer wanting to return to big cities. Under pressure, they are leaving their jobs as they are finding jobs in other companies that are suffering from lack of skills. Especially, in Coimbatore, Indore, Hyderabad and Kochi.
Ford to lay off 3,000 workers in India and the US
American carmaker Ford is about to lay off around 3,000 workers in India, the US and Canada. Of these, 2,000 are pucca and 1,000 are contract workers. Ford has more than 82,000 employees worldwide. However, layoffs will not affect people working in factories. Farley and Ford Chairman Bill Ford gave this information in an email sent to employees.
Xiaomi: Layoff of 900 people…
Chinese smartphone maker Xiaomi has fired 900 employees. The company started the process of layoffs after revenue declined 20 per cent in the second quarter. According to a report in the South China Morning Post, Xiaomi has laid off about 3 percent of its employees. However, it is not confirmed yet. The company’s president, Wang Jiang, said both demand and supply have decreased. Rising fuel prices, cost and inflation have also affected sales abroad.
