Zambia Expansion of Copper Mining in 2024 can Result in Stronger Economy
Layoffs in 2023 by Major Tech Companies
By Indu Tyagi Ketan , 31 January, 2023
2023 is seeing major tech layoffs in some of the world's biggest tech companies. Microsoft, Alphabet, Amazon, and Salesforce are the companies ahead in this layoff in 2023. Among these, Microsoft and alphabet are the latest companies to announce significant job cuts, per the reports.
Big companies like Microsoft, Amazon, etc., and smaller tech firms face declining revenue. This decline is happening since these companies hired binge during the pandemic when lockdowns forced remote work and were suitable for e-commerce.
The layoff in 2023 is worse than in 2022 even. But it is forecasted that global IT spending may rise in 2023. The survey said that in 2022, the tech sector cut employees more than 150,000; in some initial weeks of 2023, layoffs reached 30 percent of that figure.
In January 2023, Satya Nadella, CEO of Microsoft, confirmed that the company would cut off 5 percent of its workforce by impacting 10,000 employees. The report says Amazon is to lay off nearly 18,000 employees. And the majority of the job cuts will be seen in the Amazon Stores and People, Experience, and Technology (PXT) organizations.
As per the CEO of Andy Jassy, the layoffs result from 'the uncertain economy,' but then added that releases will provide long-term opportunities for a more robust cost structure for the companies. According to the reports, experts are expecting widespread job cuts throughout 2023.
Major Tech Company Layoffs
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Indu Tyagi Ketan
Chief Strategy Officer
