Tech sector has terminated over 30K employees globally

Tech sector has terminated over 30K employees globally

According to the data compiled by Layoffs.fyi, a website that tracks employee terminations, 122 tech companies have terminated the services of 31,751 employees as of February 3. In the years 2022 and 2023, global tech companies sacked more than 425,000 employees, with India alone witnessing more than 36,000 job losses.

Several well-known companies are among those that have announced a reduction in headcount. Zoom, the popular video communication platform, is terminating almost 150 employees, which constitutes less than 2 percent of its workforce. Cloud software vendor Okta is planning to let go of about 400 employees, or around 7 percent of its workforce, while online payment gateway PayPal is cutting at least 9 percent of its workforce, which amounts to around 2,500 employees.

iRobot, the maker of consumer robots, has announced the termination of about 350 employees, or around 31 percent of its workforce. In addition to this, the company’s founder and CEO, Colin Angle, is stepping down. Salesforce, the major enterprise software company, has sacked around 700 employees.

Also read: High Court Directs Mumbai’s Renaissance Hotel To Pay ₹25 Lakhs To Driver Fired Without Disciplinary Inquiry & Retrenchment Compensation

Online food delivery platform Swiggy is cutting almost 7 percent of its workforce, which amounts to around 350-400 jobs. E-commerce platform eBay is sacking around 1,000 employees, which constitutes 9 percent of its full-time workforce, and will also let go an unspecified number of contractors in the coming months.

Google-owned YouTube has terminated at least 100 employees from its creator management and operations teams. Google has reportedly sacked nearly 1,000 employees and is also cutting “a few hundred” more jobs in its advertising sales team as part of an ongoing restructuring exercise. Google CEO Sundar Pichai has warned employees to expect more job cuts this year.

Veeam Software, the global data management solutions provider, has reportedly sacked 300 employees. Polygon Labs, the team focused on building the layer-2 blockchain Polygon, has terminated about 19 percent of its workforce, or 60 employees.

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February 2024

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