January 2023 \ Business & Investment \ Business News
137,492 TECH WORKERS RETRENCHED GLOBALLY

As more and more companies across the spectrum sack employees amid the global meltdown, at least 853 tech companies worldwide have laid off about 137,492 employees to date, and the tally is only going north amid recession fears.

New Delhi: As more and more companies across the spectrum sack employees amid the global meltdown, at least 853 tech companies worldwide have laid off about 137,492 employees to date, and the tally is only going north amid recession fears.

According to data from layoffs.fyi, a crowd-sourced database of tech layoffs, 1,388 tech companies have fired a total of 233,483 employees since the onset of Covid-19, but 2022 has been the worst for the tech sector.

As of mid-November, 2022, more than 73,000 workers in the US tech sector have been laid off in mass-level job cuts led by companies like Meta, Twitter, Salesforce, Netflix, Cisco, Roku, and others.

Robinhood, Glossier, and Better are just a few of the tech companies that have notably trimmed their headcount in 2022, according to Crunchbase.

Big Tech companies like Amazon and PC and printer major HP Inc have joined the global layoff season, and were set to lay off more than 10,000 and up to 6,000 employees in days to come, respectively.

Amazon CEO Andy Jassy has warned employees that there will be more layoffs at the company in early 2023 "as leaders continue to make adjustments".

The massive job cuts have hit several divisions, especially the Alexa virtual assistant business that reportedly set to lose $10 billion this year as the voice assistant never managed to create an ongoing revenue stream.

 




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