Job Alert! Tech companies fired 45 thousand employees, IT companies stopped hiring, know how is the condition of the job sector.
New Delhi. The crisis on jobs is increasing all over the world at this time. America’s biggest tech companies, including Twitter, have done the most layoffs. Big companies like Microsoft, Google, Intel have also fired thousands of people due to lack of earnings. This crisis has increased due to increasing uncertainty in the global market due to the Russo-Ukraine war and supply chain problems. Meanwhile, Indian IT companies have also put brakes on their hiring.
According to Crunchbase News Tally, if we look at the figures till October, so far in the year 2022, America’s big tech companies have done more than 45 thousand layoffs. Some companies have also announced layoffs, while most have put an end to hiring. It also includes such companies, which made a huge amount of money from growing online business in Korokal. Among them are all tech companies, small and big and their CEO says that they had over-hired and now looking at the earnings of the company, it is being brought to the right level.
How many layoffs in which company
C-Gate: Hard drive maker C-Gate Technology said last month that it is preparing to lay off 8 percent of the workforce, which will have about 3,000 employees.
Intel: The company is preparing to save about 18 thousand crore rupees by next year and is preparing for a large number of layoffs for this. This will affect 20 percent of the employees.
Microsoft: The company has announced a cut in expenses due to the decrease in its earnings. Under this, in July itself, the company has laid off about 1 percent of the employees.
Twitter: As soon as Elon Musk took command, the company has laid off about 50 percent of the employees. Musk had said that the company is currently suffering a daily loss of $ 4 million and layoffs are necessary to deal with it.
Coinbase: This US-based company has fired 18 percent of its staff, which includes about 1,100 employees. The company says that in view of the possibility of recession, it was necessary to do cost cutting.
Netflix: This OTT platform has also suffered a huge loss and the company has so far fired 500 employees. The company says that the year 2022 has been quite tough for it.
Snap: The company’s stock has declined by about 40 per cent and is now preparing for 20 per cent layoffs. Due to this move, there is a danger of loss of jobs of about 1,000 employees.
Shopify: This e-commerce company has also announced a layoff of 10 percent of its employees, due to which more than 1,000 employees may lose their jobs.
Lift: This California-based company has reduced its workforce by about 13 percent last month and 700 employees were fired. The company has also stopped hiring from September.
Stripe: This fintech company has about 8,000 employees and it is preparing to reduce the workforce by about 14 percent. Due to this, 1,120 employees of the company will have to lose their hands.
Opendoor: Real estate startup company Opendoor says that it is preparing to lay off 18 percent of the employees, from which 550 people will be fired.
Indian companies stopped hiring
Not only American companies are keeping a check on layoffs and jobs, but Indian IT companies have also made preparations to stop hiring. The figures of 5 out of 10 big IT companies of the country are shocking. In the total cost of IT companies, 55 to 65 percent of the expenses are incurred on the employees. This is the reason why companies have slowed down the hiring process. Wipro’s workforce has declined by 6.5%. L&T has reduced headcount by 5 per cent and Tech Mahindra by 1.4 per cent.
