Within 5 months of 2023, 2 lakh people have lost their jobs in the tech industry.Image Credit source: Representative Photo

The round of layoffs that started in the technology sector at the end of the year 2022 around the world, its danger is still intact. Only 5 months have passed for the year 2023 and more than 2 lakh people have lost their jobs in this sector. There are still 7 months of the year left, in such a way it has to be understood that how big is the danger ahead?

According to Layoff.FYI, a company that monitors the statistics of layoffs, in the year 2022, 1056 tech companies laid off about 1.64 lakh people. Whereas in 2023 till May 18, 1,97,985 people have lost their jobs in this sector. These jobs have gone to 696 tech companies. In this way, within a few months of 2023, the number of layoffs has crossed the number for the whole year of 2022.

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danger lies ahead

In the year 2023, so many jobs have already gone. While there is a possibility of snatching the employment of more people in the next 7 months. Companies like Amazon, Meta, Microsoft and Twitter have already done mass layoffs. In the coming months also the same companies can fire more people.

Google, Meta, Amazon and Microsoft have announced more job cuts in the coming months. All these companies are troubled by the reduction in margins after Kovid and are going through a phase of re-structuring.

Meta has announced the removal of 6,000 people, which is going to start from this week. The company had fired 11,000 people in November 2022, while in March 2023 it had announced to reduce a total of 10,000 more jobs. At the same time, Amazon has also talked about closing many divisions to cut costs.

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The layoffs started from Twitter

This job search started last year from Twitter. After Elon Musk became the owner of Twitter, the company has halved its workforce. In this, the entire work force present in India was fired.

There have been layoffs in India in Dunzo, Sharechat, Rebel Food, Bharat Agri and Ola. Companies like Accenture are in the process of laying off 19,000 people. Apple is the only company that has not fired people on a large scale.