Hundreds of thousands of specialists are losing their jobs. No business is insured.
In the past month, the tech industry has continued its trend of reducing the so-called "dead weight", laying off tens of thousands of employees. Among the companies that decided to take this step were giants such as Amazon, Google and Microsoft, who are trying to maximize profits and meet the demands of shareholders by cutting jobs.
The terms used like "company restructuring" or" downsizing " simply cannot correctly reflect the scale of what is happening.
According to the Trueup resource, in 2023, about 2 thousand companies cut 428,836 jobs, which is an average of 1,175 people per day.
And even since the beginning of this year, more than 45 thousand employees of technology companies have already been laid off. Among the largest reductions are the following:
Thus, the trend of job cuts in the technology industry is only gaining momentum as companies try to adapt to changing market conditions and improve efficiency. However, this does not make it any easier for simple "office workers". Many people have been left out of work without any adequate financial cushion.
Are you confident in your company? Perhaps it's time to find a "spare airfield", too?
In the past month, the tech industry has continued its trend of reducing the so-called "dead weight", laying off tens of thousands of employees. Among the companies that decided to take this step were giants such as Amazon, Google and Microsoft, who are trying to maximize profits and meet the demands of shareholders by cutting jobs.
The terms used like "company restructuring" or" downsizing " simply cannot correctly reflect the scale of what is happening.
According to the Trueup resource, in 2023, about 2 thousand companies cut 428,836 jobs, which is an average of 1,175 people per day.
And even since the beginning of this year, more than 45 thousand employees of technology companies have already been laid off. Among the largest reductions are the following:
- Telefonica — 3,412 employees;
- Xerox — 3,075 employees;
- Paypal — 2,500 employees;
- Microsoft Activision Blizzard — 1,900 employees;
- Unity Software — 1800 employees;
- Google's mobile gadgets division — 1,000 employees;
- eBay — 1000 employees;
- The Twitch streaming service has 500 employees.
Thus, the trend of job cuts in the technology industry is only gaining momentum as companies try to adapt to changing market conditions and improve efficiency. However, this does not make it any easier for simple "office workers". Many people have been left out of work without any adequate financial cushion.
Are you confident in your company? Perhaps it's time to find a "spare airfield", too?
