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Sunday, June 23, 2024

For the previous two years, 23 IT workers have been fired per hour

<p>In the previous two years (until October 13), IT businesses, including startups, have laid off more than 400,000 workers worldwide, with more than 30,000 of those layoffs occurring in India at more than 110 Indian startups.<img decoding=”async” class=”alignnone wp-image-237251″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-for-the-previous-two-years-23-it-workers-have-been-fired-per-hour-new-year-heralds.jpg” alt=”theindiaprint.com for the previous two years 23 it workers have been fired per hour new year heralds” width=”1275″ height=”717″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-for-the-previous-two-years-23-it-workers-have-been-fired-per-hour-new-year-heralds.jpg 400w, https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-for-the-previous-two-years-23-it-workers-have-been-fired-per-hour-new-year-heralds-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-for-the-previous-two-years-23-it-workers-have-been-fired-per-hour-new-year-heralds-150×84.jpg 150w” sizes=”(max-width: 1275px) 100vw, 1275px” title=”For the previous two years, 23 IT workers have been fired per hour 9″></p>
<p>Employers have been let go by Big Tech companies as well as startups across the board, citing the current economical climate.</p>
<p>The most recent information from layoff.fyi, a website that analyzes layoffs in the computer industry, shows that 2,120 tech businesses have fired 404,962 people worldwide thus far.</p>
<p>1,061 tech businesses fired 164,769 people in 2022, and as of today (October 13), 1,059 companies have fired 240,193 workers.</p>
<p>In the last two years, 23 individuals have lost their employment each hour, or nearly 555 employees per day on average. There were 89,554 layoffs in January alone.</p>
<p>However, even if the number fell, layoffs continued unabatedly.</p>
<p>According to the report, 4,632 workers were let go last month.</p>
<p>The two industries that cut the most jobs this year were retail technology and consumer technology. The report indicated that the retail and consumer tech sectors, respectively, laid off about 29,161 and 28,873 workers.</p>
<p>There will likely be additional layoffs in the coming months of 2023 since the year is still young.</p>
<p>According to a media source, chip manufacturer Qualcomm has said that it would be closing two of its locations in the US state of California, which will result in the loss of almost 1,258 jobs. Numerous other US-based software companies, including Chainalysis, Plex, Cisco, Pie Insurance, and many more, have recently let go of hundreds of people. Nearly 870 individuals will be affected by Epic Games’ intentions to lay off 16% of its workforce, which were disclosed last month.</p>
<p>Gaming firms including Ascendant Studios, Beamdog, Crystal Dynamics, Roblox, Blizzard, Team17, Naughty Dog, Niantic, and Keywords have all let go varied amounts of employees in the previous couple of months alone.</p>
<p>4,000–5,000 people would be let go by Byju’s, a leading provider of educational technology in India, as part of a “business restructuring exercise”. Over 10,000 employees have been cut by the company in the last two years. Dunzo, a local quick-grocery delivery service, is said to have fired at least “150-200” additional workers in September due to a severe financial shortage. In two waves of employment cuts, the business has fired close to 400 people so far this year.</p>
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