Page 5 - It Layoffs

Tech job losses on course to exceed 2022 number, already at 57% of last yr

Some 8,134 employees have reportedly lost their jobs in the country as of May 2023

Digital intelligence Israel-based firm Similarweb cuts another 6% of staff

In November last year, Similarweb laid off about 10 per cent of its team, around 130 employees, when it announced its results for the third quarter of 2022

Akamai Tech lays off nearly 3% of global workforce impacting 300 workers

"This was a difficult decision, but it was necessary for us to prioritise investments in the areas with the greatest potential for future growth as we strive to deliver greater value for shareholders"

As Apple slows down hiring, Tim Cook says mass layoffs are 'last resort'

Apple services set an all-time record with $20.9 billion in the March quarter

Upto 60% jump in IT employees taking courses to avoid a possible layoff

With AI and machine learning dominating the discussion in the space, many employees are taking these courses in order to stay ahead of the curve and maintain their relevance

Cognizant to lay off 3,500 employees in 2023 amid declining revenue

In the quarter ended March 31, the company reported a margin of 14.6%, among the lowest in the industry

IT firms give staffing companies a miss, fill vacancies internally

Companies were doling out up to 100 per cent hikes to hire top IT talent only a year ago, the situation has completely changed today

Layoffs continue at startups; funding winter, macro uncertainty to blame

New-age companies like Byju's, Unacademy, social media firm ShareChat, MyGate, and automobile-servicing startup GoMechanic were among the leading names that fired employees in large numbers

HCL bucks the trend; says it intends to hire as others continue to fire

The firing spree was not limited to back-office jobs and affected big tech companies, including Amazon, Meta, Microsoft, and Google parent Alphabet, among others

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