Business
From Microsoft to SAP, Employee Turnover is More Than 2 Lakhs So Far Worldwide; List Here
The beginning of 2023 has been difficult for workers as major IT companies around the world continue to lay off to save expenses. The layoffs are taking place as the world economy remains unstable. Over 2 lakh tech jobs have been eliminated since the beginning of the year. Here is a list of the largest firms’ layoffs.
Microsoft
Due to worries about a global economic slump, the computer giant stated that it would lay off 10,000 employees, or about 5% of its whole workforce, in the coming days.
3M
To better align itself with changed capacity utilization, 3M, the manufacturer of Post-it notes, professional coatings, and porcelain, is laying off around 2,500 factory workers worldwide.
Amazon
As a result of the uncertain global economy, businesses are being forced to cut expenses and reorganize their operations, and Amazon is doing just that.
Its parent company Alphabet plans to shed 12,000 positions or 6% of its global staff. The company as a whole and all of its employees will be affected by the layoffs.
Spotify
The leader in the music service revealed plans to lay off 600 employees worldwide, or 6% of its workforce. Daniel Ek, the CEO of the Swedish company, claimed in a statement that he overreached by making investments before the firm’s sales growth.
Dow
In an attempt to save USD 1 billion this year, the advanced materials business is eliminating nearly 2,000 jobs or around 5% of its total workforce.
SAP
To reduce expenses and concentrate on its cloud market, the German software major wants to eliminate 3,000 employees, or 2.5 percent of its global staff, and consider selling its residual Qualtrics investment.
IMB
Despite exceeding revenue forecasts in the fourth quarter, the company revealed 3,900 layoffs as a component of certain asset sales and exceeded its yearly cash objective.
Meta, the company that owns WhatsApp, Instagram, and Facebook, laid off approximately 11,000 employees in November 2022, or almost 13% of its employees. To save costs, Elon Musk, the new CEO of Twitter, has also laid off 50% of its employees worldwide.