3.6 C
London
Saturday, January 28, 2023

853 technology companies are laying off more than 137,492 workers worldwide, with more jobs to come

Must read

Police prosecute second teen in Iowa school shooting that left 2 dead

DES MOINES, Iowa — Authorities on Friday charged a second teen with murder in the shooting of two students at an educational program in...

Fifth Wall, focused on $3.2 billion real estate technology and management, appears to be eating even more of its market – londonbusinessblog.com

Brendan Wallace's ambition is beginning to seem almost limitless. The LA-based venture firm that Wallace and co-founder Brad Greiwe launched less than seven...

Warner Bros. stole our Harry Potter wand’s IP address, says Kano • londonbusinessblog.com

canoethe British start-up known for its own computer kits and software for learning coding and associated STEM skills, Warner Bros. accused of copying...

Adani Enterprises’ ₹20,000 crore FPO is now open, analysts remain cautiously optimistic

Adani The follow-on public offering (FPO) of ₹20,000 crore from companies has received mixed reception from brokers, who underline that the bet on green...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

As more companies across the spectrum are laying off workers amid the global meltdown, at least 853 tech companies around the world have so far laid off about 137,492 workers, and the count is only moving north on fears of a recession.



According to data from layoffs.fyi, a crowdsourced database of tech layoffs, 1,388 tech companies have laid off a total of 233,483 workers since the onset of Covid-19, but 2022 was the worst for the tech sector.

As of mid-November, more than 73,000 workers in the U.S. technology sector have been laid off in massive job cuts led by companies like metaTwitter, Salesforce, Netflix, Cisco, Roku and others.

Robinhood, Glossier, and Better are just a few of the tech companies that will significantly trim their workforces by 2022, according to Crunchbase.

Big tech companies such as Amazon and PC and printer HP Inc have joined the global layoff season and are set to lay off more than 10,000 and up to 6,000 employees respectively in the coming days.

Amazon CEO Andy Jassy has warned employees that the company will see more layoffs in early 2023 “as leaders continue to make adjustments.”

The massive job cuts have hit several divisions, especially the Alexa virtual assistant business reportedly losing $10 billion this year as the voice assistant never managed to create a continuing revenue stream.

Alphabet, GoogleThe company’s parent company is reportedly preparing to lay off about 10,000 “underperforming” workers, or 6 percent of its workforce.

According to a report in The Information, Google plans to relieve 10,000 employees through a new ranking and performance improvement plan.

In India, nearly 16,000 employees have been requested by about 44 startups, led by edtech companies like BYJU’S, Unacademy and Vedantuwhen VC funding dried up.

Other tech startups and unicorns that have laid off workers in India include Ola, Cars24, Meesho, LEAD, MPL, Innovaccer, Udaan and more.

Meanwhile, thousands of contract workers have also been laid off, making 2022 the toughest year for workers in the technology sector.

The startup ecosystem’s funding winter could last another 12 to 18 months and the industry could face “a lot of turmoil and volatility”, flip kart CEO Kalyan Krishnamurthy has warned.

Indian startups are undergoing major headcount cuts and hiring of permanent employees has fallen by as much as 61 percent over the past 12 months, according to the annual insights report of RazorpayX Payroll AdministrationRazorpay’s business banking platform.

Only two startups in India, Shiprocket and OneCard, achieved unicorn status (valued at $1 billion and above) in the July-September period, according to the latest PwC India report.

ALSO SEE:

Netflix is ​​working on ‘brand new AAA PC game’ project

Binance wants to hire 8,000 people by the end of 2023: CEO

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Police prosecute second teen in Iowa school shooting that left 2 dead

DES MOINES, Iowa — Authorities on Friday charged a second teen with murder in the shooting of two students at an educational program in...

Fifth Wall, focused on $3.2 billion real estate technology and management, appears to be eating even more of its market – londonbusinessblog.com

Brendan Wallace's ambition is beginning to seem almost limitless. The LA-based venture firm that Wallace and co-founder Brad Greiwe launched less than seven...

Warner Bros. stole our Harry Potter wand’s IP address, says Kano • londonbusinessblog.com

canoethe British start-up known for its own computer kits and software for learning coding and associated STEM skills, Warner Bros. accused of copying...

Adani Enterprises’ ₹20,000 crore FPO is now open, analysts remain cautiously optimistic

Adani The follow-on public offering (FPO) of ₹20,000 crore from companies has received mixed reception from brokers, who underline that the bet on green...

Southwest develops software fixation to prevent travel meltdowns

After the disastrous Christmas travel season, which saw 16,700 flight cancellations, Southwest Airlines is testing new software solutions - and facing an investigation from...