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Tech job sector begins 2023 on bleak note; Jan job loss of 1600/day estimated globally

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Tech job sector begins 2023 on bleak note; Jan job loss of 1600/day estimated globally
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New Delhi: Amid reports of tech firms having a bumpy ride for the last few months, now figures so far of 2023 show that an average of 1,600 tech employees are being laid off per day globally.

A report on this phenomenon by IANS also says that the retrenchment episodes have gathered speed amid global economic meltdown and recession fears.

In 2022, over 1,000 companies laid off 154,336 workers, as per the data from layoffs tracking site Layoffs. The rate of mass tech layoffs are continuing into the new year also.

More importantly for India, Indian companies and startups are among the leaders in firing staff.

Homegrown social media company ShareChat (Mohalla Tech Pvt Ltd) laid off 20 per cent of its workforce due to uncertain market conditions, affecting more than 500 employees.

Backed by Twitter, Google, Snap and Tiger Global, ShareChat has about 2,300 employees.

In December 2022, ShareChat laid off less than 5 per cent of its employees after it shut down its fantasy sports platform called Jeet11.

Companies like Ola (which fired 200 employees) and voice automated startup Skit.ai also dominated the headlines for laying off employees this month.

Homegrown quick-grocery delivery provider Dunzo has laid off 3 per cent of its workforce amid cost-cutting measures.

The year 2023 has begun on a bad note for tech workers globally and 91 companies have laid off more than 24,000 tech employees in the first 15 days this month, signalling worse days ahead.

Amazon announced to lay off 18,000 employees globally, including nearly 1,000 in India.

Meanwhile, professional network site LinkedIn is full of job hunts, offers of support for laid off friends and colleagues, and advice for coping with career hurdles as several companies trim their workforce to navigate through an uncertain macroeconomic environment.

According to market research firm Sensor Tower, the LinkedIn app was downloaded an estimated 58.4 million times in 2022 globally across Google Play Store and Apple App Stores -- up 10 per cent from 2021.

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