Tech layoff 2023: Due to hazy macroeconomic conditions, Microsoft is prepared for a big Tech layoff 2023 after Twitter, Meta, and a number of other tech behemoths. The corporation may let off 5% of its workers by this week, according to The Verge. According to a Bloomberg article, the IT giant might make a layoff announcement as soon as today. At the moment, Microsoft employs about 220,000 people or roughly 11,000 at 5%. Microsoft cut close to 1000 employees across divisions in October of last year.
According to the most recent sources, the engineering divisions would be most affected by the most recent wave of job losses. Just a few days prior, Microsoft in the US announced an “unlimited time off policy” for its paid staff. According to the policy, paid US employees will not be limited to a set amount of vacation days and may take as many vacations as they need. Those who work part-time are exempt from this.
Even while the announcement of the layoffs is regrettable, the situation isn’t wholly unexpected because Microsoft has been hinting at future challenges. For instance, Microsoft’s CEO Satya Nadella recently visited India and stated in an interview with CNBC that the company is not impervious to changes occurring throughout the world.Also Read : https://india-24.com/chatgpt-vs-satya-nadella-over-biryani/.
After the pandemic-fueled expansion, Nadella anticipates that the following two years will be difficult for tech companies. He also acknowledged that Microsoft was not immune and insisted that the tech industry needed to improve internal efficiency in order to compete.
To reduce operating costs, numerous American tech behemoths have laid off thousands of workers over the past five months. The main causes cited by the companies include the conflict between Ukraine and Russia, weak growth, and excessive employment during the peak of the COVID-19 outbreak.
Following Elon Musk’s official takeover in October, mass Tech layoff 2023 started to happen, primarily on Twitter. The new CEO of Twitter has implemented stringent efforts to control spending. More than 3000 workers at Twitter have been let go. Late last year, Amazon let go of close to 10,000 employees, and the corporation just revealed that additional staff would be laid off. This will bring the overall count up to 18000.
Additionally, hundreds of workers were let go by Meta, formerly Facebook, last year. Over 11,000 people worldwide were affected by the nearly 13% labor reduction. To cut costs, a number of other tech behemoths like HP and Adobe also announced layoffs.
