How do you evaluate the growing layoff trend and decode the underlying circumstances in Indian context? Will global layoffs jolt India’s IT sector?
RD The past two years has been a phase of unexpected growth and to match and fuel that growth, organisations have onboarded people expecting the same pace of growth. I believe gone are the days where in the problem of western world was a global problem, whereas the vice-versa used to be untrue. Today Indian economy has a vast impact on global economy, and I know the kind of layoff that is happening in the west will have lesser impact in Indian IT setup, but of-course layoff will have cascading impact on all.
We have seen organisations like Meta (11,000 job cuts), Google (12,000 layoffs), Microsoft (10,000 job cuts), Amazon (18,000 job cuts), Salesforce (7,000 layoffs) has done mass layoffs, and also Swiggy announced it would layoff 380 people, even as the CEO admitted to the error of ‘over hiring’.
Because those projections have not been met, investors are urging...