Over 1.2 Lakh Employees Fired by Tech Companies in Jan-Feb 2023

Most tech companies ranging from large ones to startups are firing employees from the start of 2023. As per reports, 417 companies have sacked more than 1.2 lakh workers globally since January 2023.

In 2022, the total number of employees laid off by 1046 companies was more than 1.61 lakh, reported layoffs tracking site Layoffs.fyi.

In January 2023, around 1 lakh tech employees lost their jobs globally. Major companies like Amazon, Microsoft, Google, Salesforce, and others preferred to do away with their employees.

It is feared that Meta (formerly Facebook) is set for another big round of layoffs in March. Meta has reportedly given thousands of employees “subpar ratings” in its recent performance reviews.

Swedish telecom company Ericsson is firing off around 8,500 employees, to cut costs. Global consulting firm McKinsey & Co is reportedly planning to slash about 2,000 jobs. Cloud infrastructure provider DigitalOcean is laying off about 11 per cent of its workforce, or nearly 200 employees.