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
Israel delegation to reach Doha for ceasefire talks Tue, Mar 19, 2024, 01:03 PM
Palestinian death toll mounts to 31,645: Ministry Tue, Mar 19, 2024, 01:01 PM
Skipper Smriti reveals the backroom brainstorming behind RCB’s WPL triumph Tue, Mar 19, 2024, 12:57 PM
Building collapse: BJP complains to EC against Kolkata Mayor for MCC violation by announcing compensation Tue, Mar 19, 2024, 12:52 PM
IAF aircraft's emergency landing facility on NH 16 activated Tue, Mar 19, 2024, 12:51 PM
CA postpones Afghanistan T20Is citing deteriorating human rights for women Tue, Mar 19, 2024, 12:48 PM
Need to make Hydrogen cleaner and more economical: Govt scientific advisor Tue, Mar 19, 2024, 12:42 PM
Sensex down by more than 500 points Tue, Mar 19, 2024, 12:30 PM
Explosive material found near Bengaluru school Tue, Mar 19, 2024, 12:29 PM
Medical licences must not be used as a tool against people: S. Korea Prez Tue, Mar 19, 2024, 12:28 PM
Buzz over MNS joining NDA-BJP camp, may contest LS polls Tue, Mar 19, 2024, 12:27 PM
Woman found hanging, angry family burns in-laws alive in house Tue, Mar 19, 2024, 12:27 PM
Indian Consulate in touch with US authorities after another Indian student dies Tue, Mar 19, 2024, 12:23 PM
President accepts resignation of Telangana Governor Tue, Mar 19, 2024, 12:00 PM
Pak citizens commend Modi govt for boosting India's global standing Tue, Mar 19, 2024, 12:00 PM