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Layoffs: Half of the year 2023 has passed and in the first six months of the year itself, the worldwide jobs crisis has become so deep that there is a cloud of all-round concern. In the first six months of the year, more than 2.12 lakh employees have lost their jobs in the world, be it big tech firms or startups, the situation is the same in all of them. In the first six months of 2023, the situation in the global technology sector is becoming more worrying.
2.12 lakh employees have been fired so far
According to the tracking site Layoffs, which gives information about layoff data, this information has come out and according to this, by June 30, 2023, out of 819 tech companies, 212,221 employees have been shown the way out. In comparison, if we look at the data for the year 2022, out of 1046 tech companies, 1.61 lakh employees have been retrenched. On the basis of all this, a total of 3.8 lakh employees have been retrenched till June 30 of the year 2022 and 2023.
What is the reason for layoffs in companies
From big tech companies to small startups, they have given similar reasons for layoffs. Chief among these are excessive recruitment, volatile global macro-economic conditions and the residual impact of the Covid-19 pandemic and its concerns.
Effect is also visible in India
These retrenchments are looming large in the Indian tech ecosystem as well. So far, more than 11 thousand Indian startups employees have been fired. This is 40 percent more than the same period last year. The total layoffs in India have been 5 percent of the global layoffs. According to another data, ever since the companies are preparing for the tough times in the year 2022, the phase of retrenchment has started and till now more than 27,000 employees in 102 Indian startups have lost their jobs. Of these, there are 22 edtech startups, including seven unicorn edtechs, which have laid off around 10,000 employees.
No new unicorns this year
So far this year, there has been a decline of more than 70 per cent in funding as compared to January-June last year. due to this year 2023 In January-June i.e. in the first six months, not a single new unicorn has been created in the country. This is an indication that difficult times have come and due to the sound of economic recession, companies are taking a cautious approach.
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