Google is the latest to lay off 12,000 employees, or about 6 percent of its workforce. (Representational Image: REUTERS/Shannon Stapleton)
Companies like Amazon, Vimeo and Salesforce laid off 30,611 employees in the first six days of January
Tech layoffs are once again trending on social media as major IT companies announced job cuts in the first month of the new year, fueling uncertainty among employees and fears of a recession. Google is the latest to lay off 12,000 employees, or about 6 percent of its workforce, while Microsoft said it would cut about 10,000 jobs, which is close to 5 percent of its workforce. Similarly, Wipro also said that it had to terminate 452 freshers on the basis of performance.
According to reports, companies like Amazon, Vimeo and Salesforce laid off 30,611 employees in the first six days of January.
internal perspective
Amidst the respective scenario across the world and in India, Rajarshi Bhattacharya, Chairman and Managing Director, ProcessIT Global, told News18 That most of the Indian companies who are working and providing services in the Indian market need not worry as the market demand is increasing in the country. But he also said that there was a “fear of an impending global recession” and that multinationals India Deciding to cut jobs.
“Some companies are laying off employees as they are unable to sustain themselves and do not want to bear the burden of additional manpower, which eats into their costs. Business Units, which are not performing well, are left with no option but to lay off employees and retain employees in profitable divisions. For future business needs, organizations prefer to hire skilled manpower and replace existing low-skilled workers.”
Madhu Sawant, Head Business, TechPartner Alliance, said last year’s layoffs, especially at multinationals, were continuing well into 2023, with rising inflation affecting consumer spending, cutting digital ad spend by advertisers And there was the fear of recession.
Sawant said, “The current firing of employees is also due to over-hiring during the pandemic as the market needs were such then but are not present now and will have only a short-term impact.” Organizations are opting for a recruitment strategy where they hire candidates with new-age skill sets that help them achieve their business goals of optimizing customer experience, improving business operations, and increasing sales efficiency among others. Huh.”
Saeed Anjum, co-founder and CTO of GreyHR, said that thousands of employees are being laid off every day, not only in other countries but also in India. “It is not just the fear of recession; Now we seem to be in the middle of a recession. While India is expected to be less affected than other economies, there is no reason to become complacent or prepare for the worst,” he said.
“Businesses will focus on operational efficiency, capital conservation and cost optimization to balance lower sales and de-growth. Amidst the gloom, this could be a golden opportunity for the Indian SaaS industry to help global businesses run efficiently and reduce costs simultaneously. If it works, the increased sales could even offset the expected decline in IT services exports,” Anjum said.
expert advice
Christopher Roberts, managing director of Engaged Strategy, said before the layoffs, many people believe they should keep a low profile and stay quiet. But according to him, this was not the right approach as it was time for key senior managers to get noticed and work hard.
“During a layover, spruce up your CV and highlight your accomplishments about what you’ve done to save the organization money. Focus on what you’ve done so that a potential employer will consider it. is sure you can hit the ground running. Treat yourself like a small business and invest in your own growth and development. Taking strategic steps will help you market yourself well and attract organizers will realize that they made a mistake by letting you go.”
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