The Live Ahmedabad
  • Home
  • Ahd City
  • Business
  • Entertainment
  • Education
  • Crime
  • Health
  • Politics
  • Sports
  • Featured

The Live Ahmedabad

  • Home
  • Ahd City
  • Business
  • Entertainment
  • Education
  • Crime
  • Health
  • Politics
  • Sports
  • Featured
Nation

Tech layoffs surpassed Great Recession levels, may worse in early 2023

by TLAteam December 15, 2022December 15, 2022
written by TLAteam December 15, 2022December 15, 2022
Tech layoffs surpassed Great Recession levels, may worse in early 2023

The massive layoffs by tech companies this year alone have surpassed the levels seen during 2008-2009 Great Recession, which began with the collapse of Lehman Brothers.

Business News

In 2008, tech companies laid off about 65,000 employees, and a similar number of workers lost their livelihoods in 2009, according to data by global outplacement and career transitioning firm global outplacement & career transitioning firm Challenger, Gray & Christmas.

In comparison, 965 tech companies have laid off more than 1,50,000 employees globally this year, exceeding the Great Recession levels of 2008-2009.

Led by companies such as Meta, Amazon, Twitter, Microsoft, Salesforce and others, tech layoffs are expected to worsen early next year due to ongoing global macroeconomic conditions.

In India, over 17000 tech workers have been laid off.

Amazon and PC and printer major HP Inc have joined the global layoff season with plans to lay off more than 20,000 and up to 6,000 employees respectively in the coming days.

Cisco has begun laying off nearly 4,000 people worldwide.

Google is reportedly preparing for massive layoffs early next year and Alphabet and Google CEO Sundar Pichai has reportedly given no assurances to concerned Google employees that this will not occur.

In a companywide meeting with staff, Pichai said “it’s really tough to predict the future, so, unfortunately, I can’t honestly sit here and make forward-looking commitments”.

He told employees that what the company is trying hard to do “is to make important decisions, be disciplined, prioritise where we can, rationalise where we can, so that we are set up to better weather the storm, regardless of what’s ahead”.

“I think that’s what we should focus on and try and do our best there,” Pichai added.

AhmedabadAhmedabad cityAhmedabad newsGujaratGujarat governmentGujarat newslatest news
0 comment
previous post
Massive fire in Gujarat’s Kheda controlled after 5 hours
next post
Rs 98,000 crore will be invested in India’s airports over next 5 years

You may also like

Virat Kohli Named in Police Complaint Over Bengaluru...

June 6, 2025

Elon Musk’s Starlink Govt Nod from India, Set...

June 6, 2025

Sensex Rallies 700 Points, Nifty Nears 25K as...

June 6, 2025

Amazon India Introduces Rs 5 Marketplace Fee Per...

June 6, 2025

Big Change! India-England Series No Longer the Pataudi...

June 6, 2025

IRCTC Flags 2.9 Lakh Suspicious Bookings in Major...

June 5, 2025

DIGIPIN Explained: India’s New Digital Addressing System

June 5, 2025

Big changes by Indian Railways to fix Tatkal...

June 5, 2025

RCB Victory Celebration Turns Deadly: 3 Dead Many...

June 4, 2025

Monsoon Session of Parliament from July 21; First...

June 4, 2025

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Business News

Recent Posts

  • Virat Kohli Named in Police Complaint Over Bengaluru Stampede That Claimed 11 Lives

    June 6, 2025
  • Ahmedabad Woman Files FIR Against Husband and In-Laws for Dowry Harassment and Abuse

    June 6, 2025
  • NEET-PG 2025 Exam on August 3 in Single Shift; Supreme Court Gives Final Approval

    June 6, 2025
  • Elon Musk’s Starlink Govt Nod from India, Set to Boost Satellite Internet Services

    June 6, 2025
  • Forest Dept Fines 5 for Entering Gir to See Lions Without Permission

    June 6, 2025
December 2022
MTWTFSS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Nov Jan »
The Live Ahmedabad
Footer Logo
  • Home
  • Ahd City
  • Business
  • Entertainment
  • Education
  • Crime
  • Health
  • Politics
  • Sports
  • Featured
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms of use
  • Advertise with Us
  • Work With Us
  • Contact Us

© 2021 - The Live Ahmedabad. All Rights Reserved.