Will Layoffs Continue In 2025 In India Around 2 000 3 000 professionals from India s top IT companies lost their jobs in 2024 alone according to IT employee union Nascent Information Technology Employees Senate NITES
More than 100 000 tech jobs across more than 360 companies have been cut in 2024 so far with tech layoffs showing no signs of abating It follows more than 240 000 cut in 2023 with tech giants laying the blame at economic uncertainty or the rise of artificial intelligence as reasons for the cuts After a blossoming 30 years when a job with a tech giant felt like the path to a long secure There has been a flood of news reports about layoffs Accenture plans to cut 19 000 jobs Indeed to lay off 2 200 15 percent employees Amazon said it will layoff 9 000 people in its second
Will Layoffs Continue In 2025 In India
Will Layoffs Continue In 2025 In India
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The ongoing spate of layoffs has also impacted Indian companies On July 2 it was reported that edtech company Unacademy was laying off about 250 employees The company which is valued at 3 4 billion in its funding in 2021 has been slashing jobs since schools reopened across India following pandemic induced lockdowns In the last month alone at least 5 000 Indians working at large tech companies and startups have been laid off according to my back of the envelope calculation By some estimates nearly 16 000 Indians lost their jobs at Indian startups in 2022 From global giants like Twitter to Indian poster children like Byju s job don t seem safe
UPS accounts for 40 percent of the overall layoffs in tech companies in January 2024 firing over 12 000 employees in just one month Google has laid off over 1000 employees in January while The spate of layoffs in the tech industry seems to be continuing unabated In the first nine days of May over 2 000 people have been laid off from their jobs by various tech companies as per Layoffs fyi The companies have cited their usual reasons such as economic downturn shifts in consumer demands technological changes and automation etc
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Executives justified the mass layoffs by citing a pandemic hiring binge high inflation and weak consumer demand Now in 2024 tech company workforces have largely returned to pre pandemic levels According to news reports Netflix Meta Amazon Microsoft Google parent Alphabet and Apple have lost a collective market value of 2 5 trillion Of all the companies Meta ranked the highest
A recent report by the Mint revealed that in just one year 4 IT giants Infosys TCS Wipro and Tech Mahindra laid off over 67 000 employees The report further reveals that while Infosys laid off 24 182 employees Wipro handed the pink slip to 21 875 employees On the other hand TCS bid adieu to 10 818 people while Tech Mahindra culled Since the onset of the funding winter in 2022 an estimated 37 264 employees have been laid off by at least 130 Indian startups Nearly 25 Indian edtech startups including all seven edtech
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Will Layoffs Continue In 2025 In India - After massive job cuts last year tech companies and startups continue to slash their workforce this year as well According to data from Layoffs fyi a layoff tracking website a total of 2 62 595 employees were laid off last year by 1 187 tech companies So far in January 91 tech companies have already fired 24 564 employees