Every week seems to bring a new round of layoffs in the tech sector. What started as a hiring freeze in some companies at the beginning of the year is now a full-blown crisis. Major tech companies that went on a hiring spree during the coronavirus pandemic are bleeding thousands of jobs in the face of uncertain economic conditions. (Image: News18 Creative)
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Meta CEO Mark Zuckerberg announced on November 9 that the company was laying off about 11,000 employees. (Image: News18 Creative)
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Twitter announced on November 4 to cut half its global headcount or about 3,700 employees a week after Elon Musk took over. (Image: News18 Creative)
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In October, Microsoft has announced layoffs across multiple divisions. (Image: News18 Creative)
Amazon plans to lay off approximately 10,000 people in corporate and technology jobs starting November. (Image: News18 Creative)
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The tech giant Apple has signaled caution, with chief executive Tim Cook saying the firm was “still hiring” but only on a “deliberate basis”. (Image: News18 Creative)
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According to Reuters, production and streaming company Walt Disney has announced a hiring freeze and job cuts in its quest to make Disney+ streaming service profitable. (Image: News18 Creative)
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Lyft and Netflix are among other companies to have cut jobs. (Image: News18 Creative)
The tech industry has seen a string of layoffs in 2022 in the face of uncertain economic conditions. (Image: News18 Creative)
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Many of these companies went on a hiring spree during the pandemic. A global recession, exacerbated by the Russia-Ukraine war and inflation, has increased pressure on the tech industry. (Image: News18 Creative)
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FAANG companies’ m-cap in 2022. (Image: News18 Creative)
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It’s important to remember that a pink slip in mass layoffs isn’t the employee’s fault. Layoffs occur because the organisation wants to downsize. (Image: News18 Creative)
