INDIAN START UPS FACING THE IMPACT AS PINK SLIPS GROW IN NUMBER
Arun Kumar Shrivastav
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2023-02-01 12:24
Tech layoffs have left the employment scene bloodied. So far, Google has officially laid off 12,000 employees, Amazon 18,000, Meta 11,000, Salesforce 8,000, Twitter 4,000, IBM 3,900, SAP 3,000, and Coinbase 2,000. Microsoft is planning to reduce its headcount by at least 10,000 and Google investors are reportedly pressing CEO Sundar Pichai to reduce the workforce by half to improve profitability. In all, over 200,000 tech jobs were eliminated globally by the end of 2022. But the first month of the new year itself has seen nearly 70,000 technology jobs eliminated. Indian tech companies, particularly, startups, have been part of this global tech layoff calamity.