Layoffs 2023: 91 IT Businesses Laid Off Roughly 24,000 Employees in January

Layoffs 2023 is trend that is undesirable but real. The year 2023 began poorly for tech workers worldwide, with 91 organisations laying off more than 24,000 tech professionals in the first 15 days of the month, indicating that worse days are coming. According to the layoff monitoring website Layoffs.fyi, around 24,151 tech professionals lost their employment, with corporations such as Amazon, Salesforce, Coinbase, and others dominating. Crypto.com revealed last week that it would cut its worldwide staff by around 20% due to persistent economic challenges and unanticipated industry events.

Is India following the layoffs 2023 trend?

In India, firms such as Ola (which laid off 200 staff) and voice-activated company Skit.ai dominated the news in January. Over 17,000 tech personnel were let off in December of last year. According to the website tracking job losses since the outbreak began, 153,110 people were laid off in 2022, with firms such as Meta, Twitter, Oracle, Nvidia, Snap, Uber, Spotify, Intel, and Salesforce leading the way. The number of layoffs reached a trough in November when 51,489 tech professionals were laid off.

Will 2023 be the worst year in the history of technology?

According to a report by The Information, approximately 6 percent of Google employees might be dismissed over "not having enough influence," according to a report by The Information. Google layoffs in 2023 might result in losing up to 11,000 jobs. It indicates that 2023 will be the worst year in the history of technology.

Do we expect an impact due to the layoffs in India as well?

All eyes are now on the Big Tech quarterly results, which are set to be released at the end of this month. This year's significant layoffs by computer businesses have topped the levels. Indian IT services organisations are among the most important employers in the organised sector, and any global economic trend would undoubtedly affect their growth predictions. When cutting expenses and protecting profit margins, management pays close attention to headcount figures since they are held accountable to investors. Though there is no clear trend, a few indicators may indicate what is to come in the following months.