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The Layoff Wave of 2023: Tech Giants Google, Microsoft, and Salesforce Cut Thousands of Jobs in the Last 2 Months.

The Layoff Wave of 2023: Tech Giants Google, Microsoft, and Salesforce Cut Thousands of Jobs in the Last 2 Months.

HIGHLIGHTS

  • Amazon, Google, and Microsoft all made job cuts in 2023 announcements.
  • IT behemoths made termination announcements as part of cost-cutting measures.
  • While the tech industry faces challenging macroeconomic conditions, hiring has also been suspended across all organizations.

As the tech business had back-to-back layoffs towards the end of 2022, the beginning of 2023 only made matters worse. Tens of thousands of workers will lose their jobs within the first two months of 2023 due to layoff announcements made recently by tech titans, including Meta, Google, Amazon, and Microsoft, in response to challenging macroeconomic conditions.

There have been 567 layoffs at tech businesses, including prominent tech, tech unicorns, and startups, so far in 2023, according to Trueup.io, a website that is documenting all the layoffs in the industry.

According to statistics, around 157,263 IT experts lost their jobs in the last two months, affecting 2,537 people daily. Compared to the total number of layoffs in 2022, which included 1,535 tech company layoffs, with 241,176 people affected within months.

Layoff wave

According to the monthly layoffs, approximately 1,07,780 IT workers were affected by layoffs in January 2023. 47,854 people lost their employment in February. And as for March, which has only just begun, 1,629 employees have already lost their employment across their companies due to recent firings. As businesses get closer to the start of a new fiscal year, the number is anticipated to increase.

Several digital behemoths, including Google, Microsoft, and Salesforce, have made news by announcing significant layoffs in the first two months of 2023. Several employees have been left wondering why the sudden job cuts were made, which has worried and scared thousands of workers.

Let’s quickly review all the layoffs that have been announced so far in 2023.

  • Amazon

Amazon, a global leader in e-commerce and technology with headquarters in Seattle, laid off thousands of workers in 2018 and has stated that this trend will continue in 2023 as well. Amazon CEO Andy Jassy made the official announcement in January that the company would be laying off 18,000 workers as part of a restructuring and cost-cutting effort.

  • Google

Layoff wave

Internal layoffs at Google began in September 2022, but the Sundar Pichai-led tech company didn’t formally announce them until January 2023, when it said it would eliminate 12,000 positions across all departments.

Recently, the business even let go of around 450 workers from its India division. The company cited economic uncertainty as the reason for the layoffs and stated that it was necessary to streamline its operations to remain competitive in the market. Many of the affected employees were working in the company’s cloud division.

  • Microsoft

Microsoft also has plans to reduce expenses and began hiring fewer staff in January 2023. The corporation made the decision to lay off 10,000 employees, or around 5% of its whole team. The company attributed the layoffs to its decision to exit the retail business and shift its focus to its online store. The affected employees were working in Microsoft’s retail stores across the US and Canada.

  • Meta

In November 2022, Meta CEO Mark Zuckerberg announced its intention to fire around 11,000 employees, or close to 13% of its whole workforce. The company stated that the layoffs were part of its efforts to restructure its business and focus on virtual and augmented reality areas.

The affected employees were working in various roles across the company’s operations. However, the firm hinted at yet another round of layoffs in February 2023 as it further decided to reduce discretionary spending. Even the hiring ban was extended until March 2023.

  • Twitter

In September 2022, Twitter reduced its overall employment by more than 50% after Elon Musk was appointed as the company’s new CEO. The corporation kept making layoffs in various departments around the world and implemented stringent cost-cutting and restructuring initiatives. Regarding 2023, Twitter reportedly laid off roughly 10% of its remaining workers in the most recent wave of job cuts, affecting at least 200 individuals.

Layoff wave

The company stated that the layoffs were part of its efforts to restructure its business and focus on growth in areas like advertising and e-commerce. The affected employees were working in various roles, including engineering, marketing, and product management.

  • Salesforce

As part of its cost-cutting efforts, Salesforce also declared layoffs in January. The business announced its intention to eliminate 7,000 positions or 10% of its staff. The corporation even let go of 4,000 employees at the beginning of February 2023, and it has plans to let go of more in the near future.

The company stated that the layoffs were part of its restructuring efforts to improve its profitability and competitiveness. The affected employees were working in various roles, including sales, marketing, and engineering.

Swiggy, which has around 6,000 workers on staff, said in January that it would be cutting off 380 workers, or approximately 6 per cent of its workforce. The company cited the pandemic and its economic impact as the reason for the layoffs. The affected employees were working in various roles across the company’s operations.

  • Dunzo

A hyperlocal delivery firm in India called Dunzo has fired 90 employees in the past two months and laid off 3% of its personnel, citing restructuring. The company cited the pandemic and its impact on the economy as the reason for the layoffs. The affected employees were working in various roles across the company’s operations.

  • Zomato

Zomato has also disclosed that it will be laying off employees in several cities and will reduce its headcount by 3%. According to media reports, Zomato has let go of around 500-600 employees across various departments and locations, including sales, marketing, content, and customer support.

  • ShareChat

ShareChat, an Indian social media platform, has laid off around 20 per cent of its workforce, impacting over 400 employees in the last two months. The company stated that the layoffs were part of its efforts to restructure its business and focus on areas like regional language content and e-commerce. The affected employees were working in various roles, including engineering, product management, and operations.

  • Ola

Ola, an Indian ride-hailing company, has laid off 200 employees from its Ola Cabs, Ola Electric and Ola Financial Services verticals in the last two months. The company cited the pandemic and its impact on the economy as

What Can Affected Employees Do?

Layoff wave

If you’re one of the thousands of employees affected by the recent layoffs at Google, Microsoft, Salesforce, or another tech company, it’s essential to take action quickly to secure your future.

Some potential steps to consider include the following:

  • Updating your resume and LinkedIn profile to reflect your experience and skills.
  • Reaching out to your network of contacts to explore new job opportunities.
  • Considering freelance or contract work while you search for a new full-time position.
  • Seeking out career counselling or other resources to help with the transition.

While the layoffs are undoubtedly a difficult and stressful experience, it’s important to remember that the tech industry is still growing and evolving and that there are many opportunities available for those with the right skills and experience.

Conclusion:

The recent layoffs at tech giants such as Google, Microsoft, and Salesforce have caused concern and uncertainty for many employees.

However, it’s essential to recognize that these moves are part of a broader trend towards cost-cutting and efficiency in the tech industry and that there are still plenty of opportunities available for skilled professionals. By staying proactive and updating their skills and network, affected employees can position themselves for success in the future job market.

edited and proofread by nikita sharma

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