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Layoffs-What is Ailing the Corporates-An Insight with Concerns

  • Posted on January 22, 2023
  • News
  • By Akta Yadav
  • 285 Views
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Layoffs:-
Tech companies have been facing a difficult situation since 2022. Every now and then tech giants are in the limelight for all the reasons which must concern society as a whole.   Meta, Twitter, Microsoft, Cisco, Byju’s even e-commerce giant Amazon have cut off many positions in the last few months. Google was able to hold for the longest amount of time but now that has also succumbed to the pressure. With trends becoming the norm for tech companies a sensible citizen must be inquisitive and concerned what are the Corporate practices which are responsible for this worrisome plight of these big companies. Latest Layoffs in the Tech Industry in the Year 2023 Many companies tried to cut off their workforce in order to save themselves during difficult situations like: Amazon, out of its strong 1.5 million workforce across the globe it announced the decision to drop off 18,000 employees globally. It recently removed around 8,000 of its employees.   Layoffs Layoffs Microsoft is also on the list. The tech giant cut off 5 % of the total workforce which is 10,000 positions. Google too toed the line this week when its CEO Sunder Pichai wrote an emotional letter to outgoing employees and employees were fired in the middle of the night just by shooting an email. Think of employees working for last 5-20 years and one night they are sleeping their employer sends an email ending their engagement with immediate effect. Consider the plight of shock and agony these families might have been subjected to when they would have woken up in the morning. Why Should Sunder Pichai Continue as Google Boss: Shocker which is recent in the series is that people who got fired and others are asking why Sundar Pichai should continue in office in the present situation wherein he has fired 12000 employees of Google. There is a huge undercurrent of anger against this layoff in society at large. Layoffs that Took Place in 2022 November The biggest layoff that is still the topic of discussion is when Twitter fired 7500 employees after Elon Musk took over the social media platform. Soon after, Mark Zuckerberg gave a shocker with a greater figure of 11000 employees being short-listed for laying off and their accounts were disabled without any prior information so that they are not able to access their workstations  Other giant Layoff in 2022 Snap also announced a layoff and stated that even though they dropped around 1000 employees the workforce is still more in number as required. Their total number of employees reached 5600. Tech layoffs are very frequent and the number of employees layoff is massive Studies and data on these tech layoffs suggest that around 50,000 employees lost their bread and better in the last few months. Even people working for 20 years were not capable enough to save themselves.  Cost-cutting efforts of Twitter boss Elon Musk were criticized across the internet but one must think that being cost-effective is far better than asking employees to leave due to a financial crisis. Though Twitter was also sailing the same boat when Musk started massive layoffs just after his taking over of the micro platform of social media.  There are many employees who were serving these so-called giants and gave almost 15- 20 years of their lives and still, they got hit.   Layoffs Layoffs While the upper management receives salaries in millions. The CEOs of these tech companies are living a luxurious life, their yearly payment is more than enough to pay the salaries of these thousands of employees who are actually the base of these tech giants. But unfortunately, the present scenario is tough for these hardworking tech employees. These tech giants need to plan for the future otherwise these layoffs are going to be the story of every month and will have larger and darker implications for society and the concerned people for a long time. to come. It’s time for these corporates to introspect and improve their managerial practices to imbibe a sense of trust and loyalty for mutual premises. They need to address the exponential salaries they provide to the freshers making them habitual of luxurious lifestyles and then one day firing them off. Instead of offering huge salaries to the newcomers, these corporates must also think of those employees who have worked for it for years and based upon hard work of whom these corporates have become so indispensable for society and profitable for themselves.    
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Akta Yadav

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