Recession: WazirX laid off 40 percent of its employees, due to the recession, these companies also fired employees.

Amidst the global crisis of economic slowdown, a big news related to crypto exchange WazirX is coming out. According to media reports, WazirX has fired 40 percent of its employees. Employees who have been fired from the company were told on Friday that they will be given 45 days’ salary, and they no longer need to report for work.

In a statement issued by WazirX, it has been said that the crypto market is going through a recession amid the current economic crisis in the world. Indian crypto market is facing challenges related to tax, regulation and banking. In this situation the volumes of all Indian crypto exchanges have declined dramatically. Let us tell you that some time ago, the central investigative agencies had also taken crypto exchange WazirX under investigation in the case of money laundering.

Many companies have already done layoffs

Let us tell you that in the last few months, many big companies have laid off employees. Earlier, India’s leading IT company HCL Technologies had laid off many of its employees at the global level. According to media reports, India’s third largest software company HCL Technologies has shown the way out of about 350 employees. The last working day of HCL employees was 30 September.

Meta CEO Mark Zuckerberg had said – there may be layoffs

Amid fears of a recession in the US market, Facebook’s parent company Meta CEO Mark Zuckerberg has told employees in a weekly Q&A session that new hiring at Meta is being stopped and there will be further layoffs. According to a Bloomberg report, Zuckerberg has told the company’s staff that the budget of most teams will also be reduced.

Ola Way Microsoft also laid off, SpiceJet sent workers on leave without pay

Some time ago it was reported that the riding service provider company Ola is also laying off employees. The company has asked about ten percent of its 2,000 engineers to leave. Apart from this, Microsoft had also decided to lay off more than two hundred employees amid the news of the recession. Apart from this, Alibaba has laid off ten thousand employees. More than 9,241 employees left Hangzhou-based Alibaba during the June quarter, as the company reduced its total workforce to 245,700. Meanwhile, Indian airline SpiceJet has sent 80 pilots on leave without pay.