Page 5 - It Layoffs

Amazon, Google CEOs hint at more layoffs amid meltdown to evaluate business

As tech layoffs continue unabated in 2023, Amazon and Google CEOs have hinted at more layoffs as the companies continue to evaluate business

What led to mass layoffs in tech sector globally and who was affected?

According to a report over 150,000 people have been affected by tech layoffs in 2022 alone, whereas, 68,500 new cuts were seen in January 2023 alone

Google CEO Sundar Pichai hints at more layoffs, wants to ensure efficiency

The development comes at a time when Google already fired six per cent of its total workforce in January, leaving 12,000 Googlers without a job

US lawmakers write to USCIS on immigrants impacted by tech layoffs

Expressing concern over large-scale layoffs in the tech industry, a group of lawmakers from the Silicon Valley have written to the US Citizenship and Immigration Services to ensure high-skilled immigrants can remain in the country even after losing their jobs. This group of immigrants possesses skills that are highly valuable in today's knowledge-based economy and "forcing them to leave the US is harmful to our nation's long-term economic competitiveness", they said in their letter to USCIS Director Ur Jaddou. The letter has been sent by Congressmen Zoe Lofgren, Ro Khanna, Jimmy Panetta and Kevin Mullin. Lofgren has been a former Chair of the House Subcommittee on Immigration and Citizenship. "This issue is of great importance to our constituents because layoffs in the tech sector have accelerated in recent months. The number of tech jobs lost since the beginning of 2023 has already surpassed the total number of layoffs in 2022," the letter said It also requests that the USCIS rele

Parag Agrawal sues Elon Musk: everything about the Twitter story so far

Ex-CEO Parag Agrawal, Twitter's former general counsel Vijaya Gadde and Ned Segal, former chief financial officer were removed from their positions

Software firm Amplitude lays off 99 employees, 13% of workforce globally

"Unfortunately, we are not immune to the headwinds being faced by our customers or to the macroeconomic environment at large"

US-based firms sack over 270,000 employees in Q1, up by nearly 400%

"The technology sector is leading all industries, and this talent is in demand across industries. In fact, 38 per cent of all cuts are in the Tech sector," the report stated

Amid salary cuts, layoffs, techies now hit by soaring rents in Bengaluru

The techies, especially those in early phase of their career, are finding it difficult to afford exorbitant rents and they are considering to migrate to distant localities that have afforable rents

Amid constant fear of layoffs, employees at startups looking for a way out

People working at these firms have witnessed their colleagues being shown the door. Many have left on their own or are looking for options

Tech layoffs, economic slowdown hampers office space demand in India

Global economic slowdown, tech layoffs and hybrid work have impacted gross leasing of office space in India, as flexible office space providers share reached almost at par with traditional companies

TMS Ep399: Indian IT layoffs, confectionery, markets, bank stress test

Do Accenture layoffs portend trouble for Indian IT? Why is India's confectionery market attracting billions? How will the markets play out in FY24? What is a bank stress test? All answers here

US-based cloud computing firm Rackspace to lay off 4% of workforce

The company said that it will provide severance and other resources to those employees who are laid off, the report mentioned

If layoffs accelerate in next few months, a recession 'will be underway'

One of the best indicators of an impending recession is the inverted yield curve, particularly the difference between the 10-year Treasury note and the three-month T-bill

Wrong to assume fired H1B staffers have to leave country: USCIS director

Amid mass layoffs in the tech sector, the US Citizenship and Immigration Services (USCIS) has said it is wrong to assume that fired workers holding H-1B visa has to leave the country within 60 days and that they have multiple options to stay. In a letter to the Foundation for India and Indian Diaspora Studies, USCIS Director Ur M Jaddou said, "When non-immigrant workers are laid off, they may not be aware of their options and may, in some instances, wrongly assume that they have no option but to leave the country within 60 days." The Foundation for India and Indian Diaspora Studies(FIIDS), which has been working for laid-off H-1B visa holders, had recently written to USCIS about the impacts of recent technology sector layoffs and sought an increase to the up to 60-day grace period. In the letter addressed to FIIDS director for policy and analysis strategy Khanderao Kand, the USCIS said it acknowledges the financial and emotional impact that job loss can have on employment-based ...

Tech job still pays $120 an hour despite mass layoffs in US tech industry

In the past two weeks Meta Platforms Inc. announced it was cutting another 10,000 jobs and eliminating 5,000 open roles, Amazon.com Inc. laid off an additional 9,000 workers and job-hunting website

Hiring resumes in Indian IT sector after months-long slowdown amid layoffs

Amid ongoing global layoffs especially in the tech sector, hirings in India saw a 9 per cent sequential growth in February and the IT sector signalled a positive comeback after witnessing a decline

Global media outlet NPR plans to lay off 100 employees as revenue declines

Global media outlet NPR plans to lay off about 10 per cent of its current workforce, about 100 employees, as its financial outlook has "darkened considerably over recent weeks."

TMS Ep373: IT layoff, millets market, IT stocks, debt refinancing

Why is TCS bucking the trend on IT layoffs? How can millets crack the consumer market? Are IT stocks a good bet even as new hiring tapers? What is debt refinancing? All answers here

HP Inc to lay off 100 employees in Israel, most cuts in Indigo division

PC and printer major HP Inc is laying off 100 employees and most of the job cuts will be in HP Indigo, which is engaged in the production of digital printing machines.

Google sacks employees in India, cuts 450 jobs across verticals

Meanwhile, some of the employees who were laid off took to LinkedIn