Companies around the world are scared by the sound of recession and layoffs are going on at the same pace as the recruitment started after getting relief from Corona. American companies have fired about 45 thousand people this year, while Indian IT com
Cpanies have stopped their hiring. There is a big impact on the earnings of these companies. 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 media report, 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
Seagate: Hard drive maker Seagate Technology had told last month that it is preparing to lay off 8 percent of the employees, 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, layoffs and jobs were not only curbed by American companies, but Indian IT companies have also made preparations to ban 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.
