Indians greatly affected in Singapore..!? Dismissal..?

Meta, the parent company of major platforms facebook, Instagram, and WhatsApp, has recently laid off 11,000 employees, or 13 percent of its workforce, after months of warnings from CEO mark zuckerberg as it suffered poor quarterly results and lost customers. This is the highest number of employees fired at the time. facebook has started losing customers due to competition from leading companies like TikTok and UTU. This is also a thing that is happening for the first time in the last 18 years. Do you know that indians will be the most affected by Meta's mass Layoff..?More than 1,000 employees were laid off in this mass layoff at Meta's Asia Pacific market headquarters in Singapore. It is estimated that at least 100 more of these are likely to be tech workers. In that way, according to the data of the singapore Ministry of Manpower in 2021, about 1,77,100 people are working in singapore with an employment pass, of which 25 percent or 45,000 people are indians, according to government data.In general, an employment pass in singapore is a permit given to a skilled and talented foreigner to come and work in Singapore. Those who hold this employment pass must earn 5000 singapore dollars per month. In this situation, most of the people working with this salary are likely to be tech workers and Indians. As such, market conditions suggest that indians are likely to be the most affected by tech company layoffs, including Meta. Most international tech companies headquartered in singapore have either stopped hiring new employees or resorted to layoffs to cut costs. The main reasons for both of these are rising inflation and interest rates. Similarly, foreign workers have been hit hard by the massive layoffs announced by tech companies in the US, including workers from india and other countries working on H1B visas.Foreign workers in the U.S. are the most affected by the restriction that workers on H1B visas cannot stay in the U.S. Meta announced that it has created a separate unit to provide assistance to H1B visa workers even as it issues layoff notices. Similarly, twitter also brings employees from india and global companies. H1B visa workers will have no problem finding new jobs if only a few companies lay off their jobs. But finding new jobs has become a major challenge as most companies have stopped hiring and laid off employees.

మరింత సమాచారం తెలుసుకోండి:

singapore indians affected

Sowmiya Sriram

14/11/2022 11:26 AM