Recently when Amazon declared to lay off their near about 18000 employees everyone was shocked and could anticipate the new wave of recession after the famous slowdown of the early 2000s. It last happened 23 years back and now after 23 years again, the global business world is anticipating another huge wave of recession. After Amazon now Microsoft also declared to lay off a big number of employees. And now youth is fearful of their jobs. However, on Twitter, we can see mixed views about the same.
There is a reason why #layoffs happen. It is not always economics related. Sometime the wrong talent is recruited & then they become a liability. They need to be relieved if they are in-efficient. Companies don't pay for paying sake. They pay for results. pic.twitter.com/XQFqYUlAkm
— Dr Edmond Fernandes, MD (@Edmondfernandes) January 16, 2023
On the other hand, the reaction to Layoffs is critical and people are fearful about their existing jobs. As after amazon now Microsoft has also decided to Layoff their 5% of the workforce, chances are high that more multinational companies will follow this route soon. One of the reports suggests that till now in 2023, 104 Tech Companies have laid off 26061 Employees. Over 1,600 techies are being fired a day on average in January says tracking site http://Layoffs.fyi
The next few days are crucial and important, especially for the people from the tech industry. Let’s see what happens next and how this Global Slowdown will treat us.