The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur

  • Home
  • City
  • Politics
  • Business
  • Education
  • Entertainment
  • Sports
  • Health
  • Crime
  • Forest
  • Featured
  • Vidarbha
Nation

Tech lay offs surpassed Great Recession levels and may worse in early 2023

by TLN Team December 15, 2022December 15, 2022
written by TLN Team December 15, 2022December 15, 2022
Tech lay offs surpassed Great Recession levels and may worse in early 2023

The massive layoffs by tech companies this year alone have surpassed the levels seen during the 2008-2009 Great Recession, which began with the collapse of Lehman Brothers.

In 2008, tech companies laid off about 65,000 employees, and a similar number of workers lost their livelihoods in 2009, according to data by global outplacement and career transitioning firm global outplacement & career transitioning firm Challenger, Gray & Christmas.

In comparison, 965 tech companies have laid off more than 1,50,000 employees globally this year, exceeding the Great Recession levels of 2008-2009.

Led by companies such as Meta, Amazon, Twitter, Microsoft, Salesforce, and others, tech layoffs are expected to worsen early next year due to ongoing global macroeconomic conditions.

In India, over 17000 tech workers have been laid off.

Amazon and PC and printer major HP Inc have joined the global layoff season with plans to lay off more than 20,000 and up to 6,000 employees respectively in the coming days.

Cisco has begun laying off nearly 4,000 people worldwide.

Google is reportedly preparing for massive layoffs early next year and Alphabet and Google CEO Sundar Pichai has reportedly given no assurances to concerned Google employees that this will not occur.

In a companywide meeting with staff, Pichai said “it’s really tough to predict the future, so, unfortunately, I can’t honestly sit here and make forward-looking commitments”.

He told employees that what the company is trying hard to do “is to make important decisions, be disciplined, prioritize where we can, rationalize where we can, so that we are set up to better weather the storm, regardless of what’s ahead”.

“I think that’s what we should focus on and try and do our best there,” Pichai added.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
Man-animal conflict: Man-eating tigers should be jailed immediately says Sudhir Mungantiwar
next post
Morcha to save Ambedkar Cultural Hall, Ambazari on Dec 20

You may also like

India has recorded 3,016 new Covid-19 cases, the...

March 30, 2023

The government waives import duties on drugs used...

March 30, 2023

Customers won’t be charged for UPI transactions: NPCI

March 30, 2023

Anushka Sharma is the ‘first owner of copyrights’...

March 29, 2023

General Manager Railway Flagged off 300th WAG12B Electric...

March 29, 2023

The number of new Covid-19 cases in India...

March 29, 2023

Teak wood from Alapalli forest for Shri Ram...

March 29, 2023

Ex-minister Girish Bapat passes away

March 29, 2023

IPL 2023: Suryakumar Yadav may fill in for...

March 29, 2023

Transaction via UPI to become expensive from April...

March 29, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Trending News

  • What is blue Aadhaar card? check details below

    March 30, 2023
  • SBI credit card fees and charges in 2023, details below

    March 30, 2023
  • Good Friday’s Traditional Food Practises

    March 29, 2023
  • Five planets set to align in rare Celestial Event on March 28

    March 28, 2023
  • Govt extends deadline to link PAN with Aadhaar to June 30

    March 28, 2023

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

December 2022
M T W T F S S
« Nov   Jan »
 1234
567891011
12131415161718
19202122232425
262728293031  

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us

© 2020 - The Live Nagpur . All Rights Reserved.