Only 18 days into the new year but the list of tech companies cutting jobs due to recession fears is only getting bigger. As a part of scaling back, one of the big names to join the list recently is Microsoft. Microsoft Corp plans to cut thousands of jobs in human resources and engineering divisions. while there is no fixed number layoffs at microsoft Unveiled this year, a source close to the development said the reduction would be much larger than Microsoft’s other rounds in the past year.
preparing for a possible recession and slowing sales growth, Amazon.com Inc. is also set to launch A new round of deep job cuts. The company announced earlier this month that it would cut jobs for 18,000 employees among its corporate ranks. “These changes will help us pursue our long-term opportunities with a stronger cost structure,” Chief Executive Officer Andy Jassy said in a memo to employees.
Amazon is one of several big tech companies lowering its ranks, including Vimeo, ShareChat, Cisco Systems Inc., Intel Corp., among others. Meta Platforms Inc.Qualcomm Inc. and Salesforce Inc. Amazon, Vimeo, Salesforce are among others who have sacked around 30,611 people in the first six days of January 2023, according to a report.
Just a few days ago, Google Backed ShareChat said it would lay off About 20 percent of its employees. In a memo, ShareChat CEO Ankush Sachdeva said, “There is growing consensus in the market that the current global economic downturn will be more persistent, and thus we have, unfortunately, realized greater cost savings by reducing the size of our team.” Have to search.”
Salesforce Inc., a major software company, said it will lay off about 10 percent of its workforce. Citing a challenging economy amid fears of a recession, Salesforce also announced that some offices would be closed as a part of its restructuring plan.
Apart from these companies, Twitter, Meta, HP, Byju’s, Unacedemy, Goldman Sachs Group Inc, Moran Stanley, Intel Corp, Johnson & Johnson and Snapchat have announced layoffs.
(with agency inputs)
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