Now these companies are going to lay off thousands of employees, know the reason

Layoffs 2023 Companies: In many big companies around the world, the era of firing employees is not taking the name of stopping. Citing the economic slowdown and lack of revenue, companies are laying off their employees. After Facebook, Twitter, now the American chemical company Dow is going to show its employees the way out of the job. Know how many employees will be affected…..

Two thousand employees will be affected

It is reported that the American chemical maker Dow will lay off about 2,000 employees worldwide. Although this number is 5 percent of the total employees of the company working worldwide. According to the report, the company has set a target of $1 billion in spending cuts this year, and this move is part of that.

This was the movement of the stock in the fourth quarter

About 37,800 people currently work in the Midland-based company in Michigan. Although Dow has not given the figure. Dow says it will assess assets to focus on Europe. The company posted a profit of $613 million, or 85 cents per share, in the fourth quarter.

SAP will lay off employees

On the other hand, Waldorf-based group SAP provides traditional software and cloud-based computing services. The SAP company says that it has planned to undertake a targeted restructuring program to strengthen its core business and improve efficiency. Disclosing the full year results for the year 2022, said in an Earning Report that this program is expected to remove about 2.5 percent of SAP employees. SAP has a workforce of approximately 120,000 employees worldwide. Out of which the company is planning to lay off around 3,000 employees.

3 out of 4 worried about inflation

The move comes after layoffs announced by tech giants Meta, Amazon, Google, IBM and Microsoft. At the same time, it has been revealed in a report that, 3 out of 4 people are worried about rising inflation. They are thinking of taking several decisive steps to deal with it. 3 out of 4 Indians are afraid of losing their jobs. It is significantly higher in the rich class (32 percent), in the age group of 36-55 years (30 percent) and in the salaried class (30 percent).

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