Major tech firms laid off more than 70,000 employees. The reasons companies are shouting behind the layoffs are financial difficulties and concerns about the economic slowdown.
Organizations aggressively deploy new technologies like Artificial intelligence (AI), Intelligent automation (IA), and Business process management (BPM), which reduce human dependency and can perform many jobs efficiently with less workforce. From warehouse to business operation to the front office, technology has fixed its place.
Some of the biggest layoff announced are:
Amazon, the world’s largest online retail platform, has decided to lay off more than 18000 employees.
Google’s parent company Alphabet said that it would lay off 12000 employees.
Meta announced a massive layoff of 11000 employees.
Microsoft announced a layoff of 10,000 employees through FY23.
Salesforce announced around 10% job cut by laying off 7000 employees.