Layoffs continue in 2023: Around 3000 employees are being fired every day in January
With more Big Tech companies like Google and Microsoft joining the ongoing layoff season, about 3,000 tech employees are now being laid off per day on average in January 2023 worldwide, including in India. The frequency of firing has increased because the concern about the economic recession across the world has increased. 166 IT companies have fired more than 65,000 workers so far.
In the near future, this situation will be more serious, because some major tech companies have announced that they will lay off a large number of employees.
In 2023, Microsoft and Google are involved in layoffs. In Microsoft, 10,000 employees, while Google’s parent company, Alphabet, announced the layoff of 12,000 employees. Unfortunately, companies like Meta, Twitter, and Salesforce are included in the layoff list.
Among the fears of a global economic recession, in January, 166 tech companies laid off over 65,000 employees. Before Microsoft laid off 10,000 employees, Amazon laid off a total of 18,000 employees globally, including 1,000 Indian employees.
According to statistics from the layoffs tracking site Layoffs.fyi, in 2022 more than 1,000 companies laid off 154,336 employees. However, the first month of the new year continues to see massive layoffs compared to 2022. Startup companies in India are also participating wholeheartedly in this. A great example of this is the startup company ShareChat which has laid off 20 percent or 500 employees.
Spotify could cut staff to reduce costs
Bloomberg News reported on Sunday (Jan. 22) that Spotify is planning layoffs as early as this week to cut costs. The report, which cited sources, said the number of jobs that would be eliminated was not specified.
In addition to the editorial staff members laid off in September, the firm let go of 38 employees from Gimlet Media and ParkCast podcast studios in October. Spotify did not immediately respond to a Reuters’ request for comment.
According to Spotify’s third-quarter financial report, the company currently employs around 9,800 people. Additionally, Spotify has spent over a billion dollars on acquisitions and the rights to famous shows since 2019, but the investments have failed to yield a return, and the shares fell 66% last year. In June, executives from Spotify predicted that within one to two years, the podcast business would turn a profit.
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