2 lakh tech employees lose their jobs in 2023

For the people working in the technology sector, this year i.e. 2023 is worse than the previous year 2022. Arguably, 2023 has been the worst year for technology workers and could be more.

Because globally, from big tech firms to startups, nearly two lakh technology workers have been laid off and shown the way out in the last five months. This trend will not stop here, as Meta, BT, Vodafone and many others.

According to data from lay-off tracking site Layoffs.fyi, 695 tech companies have laid off nearly 1.98 lakh employees in the five months from January to May so far this year. If compared to last year i.e. 2022, January to December 2022.

In January this year alone, around one lakh technology workers lost their jobs globally, with the largest number being from Amazon, Microsoft, Google, Salesforce and other companies. 3.60 lakhs in total by January 2022 and May 2023 this year.

There are various reasons behind the move by big tech companies to lay off employees. Which includes over-hiring, uncertain global financial situation, post-Corona pandemic situation and more.

Meta (formerly Facebook) will reportedly begin laying off more employees in its third round of job cuts next week. Although the exact number has not been confirmed, the company is expected to lay off around 6,000 employees in this round.

Amazon India this month laid off around 400-500 employees in its cloud division AWS as well as People Experience and Technology Solutions (PXT) or HR and Support vertical. Fintech unicorn Zepz to 420 employees, or 26 percent.