Over 1,600 tech employees being fired a day on average in Jan

by IANS |

New Delhi, Jan 17 (IANS) More than 1,600 tech employees are being laid off per day on average in 2023 globally including in India, and the sacking episodes have gained speed amid global economic meltdown and recession fears.

In 2022, over 1,000 companies laid off 154,336 workers, as per the data from layoffs tracking site Layoffs.fyi.

The mass tech layoffs of 2022 are continuing into the new year, and Indian companies and startups are among the leaders in firing staff.

Homegrown social media company ShareChat (Mohalla Tech Pvt Ltd) laid off 20 per cent of its workforce due to uncertain market conditions, affecting more than 500 employees.

Backed by Twitter, Google, Snap and Tiger Global, ShareChat has about 2,300 employees.

In December 2022, ShareChat laid off less than 5 per cent of its employees after it shut down its fantasy sports platform called Jeet11.

Companies like Ola (which fired 200 employees) and voice automated startup Skit.ai also dominated the headlines for laying off employees this month.

Homegrown quick-grocery delivery provider Dunzo has laid off 3 per cent of its workforce amid cost-cutting measures.

The year 2023 has begun on a bad note for tech workers globally and 91 companies have laid off more than 24,000 tech employees in the first 15 days this month, signalling worse days ahead.

Amazon announced to lay off 18,000 employees globally, including nearly 1,000 in India.

Meanwhile, LinkedIn is full of job hunts, offers of support for laid off friends and colleagues, and advice for coping with career hurdles as several companies trim their workforce to navigate through an uncertain macroeconomic environment.

According to market research firm Sensor Tower, the LinkedIn app was downloaded an estimated 58.4 million times in 2022 globally across Google Play Store and Apple App Stores -- up 10 per cent from 2021.

Latest News
IPL 2024: 'They opened for Australia...', says Ganguly on DC's opting for Warner, Marsh as opening pair vs PBKS Thu, Mar 28, 2024, 02:28 PM
India's trade policy is calibrated with economic growth path: Piyush Goyal Thu, Mar 28, 2024, 02:17 PM
Holi brings cheer to UP excise dept as sales soar Thu, Mar 28, 2024, 02:11 PM
Punjab CM Bhagwant Mann blessed with baby girl Thu, Mar 28, 2024, 02:10 PM
New AI tool can predict fatal heart rhythm with 80 pc accuracy Thu, Mar 28, 2024, 12:41 PM
IPL 2024: 'Perplexed, beyond my understanding', Smith, Pathan slam Hardik's tactics of using Bumrah vs SRH Thu, Mar 28, 2024, 12:27 PM
Sensex surges more than 700 points led by gains in financial stocks Thu, Mar 28, 2024, 12:19 PM
India launches new database to record crimes against UN peacekeepers Thu, Mar 28, 2024, 12:11 PM
Israel bracing for six-week Rafah operation immediately after Ramzan Thu, Mar 28, 2024, 12:04 PM
Meghalaya CM thanks PM Modi for not fielding BJP candidates Thu, Mar 28, 2024, 11:40 AM
Ladakh agitation intensifies as protesters threaten march to border with China Thu, Mar 28, 2024, 11:38 AM
Stoinis, Harris, Neser, Agar miss out as Australia announce national contracts for 2024-25 Thu, Mar 28, 2024, 11:34 AM
Devine out of 5th T20I against England with injury; Plimmer comes in as replacement Thu, Mar 28, 2024, 11:32 AM
X users with 2,500 verified subscriber followers to get Premium service for free Thu, Mar 28, 2024, 11:26 AM
Top VC firm Accel to nurture 8 early-stage startups in India Thu, Mar 28, 2024, 11:25 AM