For workers in the tech industry, january got off to a terrible start. More than 3,400 tech workers are being let off every day on average in january throughout the globe as more Big Tech companies, including microsoft and google, join the ongoing layoff season. According to information provided by the layoffs tracking website Layoffs.fyi, 219 businesses have fired more than 68,000 workers so far in January. 154,336 employees were let go by more than 1,000 organisations in 2022, according to data from the layoffs monitoring website Layoffs.fyi.

The 2022 mega IT layoffs are still going on in the new year. The frequency of the firings has increased as concerns about a worldwide economic recession have grown. In 2023, there will be more substantial layoffs as most business economists anticipate that their organisations would reduce payrolls in the near future. Only 13% of economists surveyed by the National Association for business Economics (NABE) believe employment will rise at their companies during the next three months, down from 22% this fall, according to a CNN story citing the survey.

For the first time since the early stages of the Covid epidemic, more business executives foresee job losses at their companies. According to Julia Coronado, president of NABE, the findings show that "widespread fear about entering a recession this year" exists. Around 3,000 tech workers are now being let off every day on average in january across the globe, including in India, as more Big Tech companies like microsoft and google join the ongoing layoff season.

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G GOWTHAM

29/01/2023 12:03 PM