A dangerous streak of layoffs in the tech industry


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When American technocrat Elon Musk bought the Twitter company Dharar, there was talk that he would lay off 75 percent of the company's employees. At present, more than 50 percent people have got water. Elon Musk is considered to be a jerk , he doesn't think much while implementing his crazy ideas , but because of the face he called on Twitter, the courage of many other companies has opened up. Almost all of America's biggest tech companies are laying off employees — at what many say is unprecedented rates. This streak does not stop.

Companies that were known for billions in revenue have suddenly started cost cutting. The world has seen recessions before , but this is new for the tech industry. You may be surprised to know , but layoffs.fyi and layoffstracker.com track how many companies are laying off employees. Websites like have also opened!

We read news related to all these everyday , but let's dig a little deeper into the reasons why this happened and especially, what will be the impact in India , what should Indian tech workers and tech students do now.

"All I have to say is that when a company is making a loss of $4 million (roughly Rs. 32 crore) a day , unfortunately , there is no option but to lay off people." All those who have been laid off have been given 3 months salary. We've said goodbye to our Talend friends , but the company's capabilities remain. ''

- Elon Musk

Twitter's new owner

"The people who have worked at Twitter before and now are very strong-willed people. He has always found a way even in any difficult situation. I understand that many of them are angry with me today. I accept responsibility for the situation in which all people are placed today. I apologize for expanding the company too quickly. ''

- Jack Dorsey

Founder of Twitter

" I take responsibility for everything. I understand that this is a difficult time for all of us. I apologize especially to those affected. I decided to significantly increase the company's investments. Unfortunately, everything did not turn out as I had hoped. However , Meta's decision to fire people is much more deliberate than Twitter's. ''

- Mark Zuckerberg

Founder of Facebook

" Sales and general productivity will be checked and if next quarter 's results are not good... THERE WILL BE BLOOD ON THE STREETS ... " ''

- Google Cloud

( Such a message is said to have been sent to the sales team of Google's cloud services from the company's top executives , of course there is no explanation)

" We are facing an extraordinary macro-economic environment and the company's hiring and investments have to be balanced accordingly. However , the company plans to hire more people in 2023. ''

- Beth Galletti

Amazon movies Wa. President (As of this writing Amazon is also preparing to lay off 10,000 people)

" Given the number of tech layoffs in the US by 2022 (over 52,000 ) , inform Indian employees (especially those with visa issues) to come back to India and join Indian tech companies to enable India's ability to grow exponentially over the next decade." make... ''

- Harsh Jain

CEO and co-founder of Dream Sports Group (Dream 11), in a series of tweets on Twitter.

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Two years ago , the same flurry that spread across the world due to Covid is now spreading in the tech world. Then there was concern about saving lives , now there is concern about whether there will be a job or not , but the reason is the same - Kovid!

In fact, the golden decade of the tech industry had already started before Covid. Tech companies were among the most valuable companies of all kinds in the world. The most expensive and most in-demand thing in the business of technology , especially software, is talent. Every major tech company is eager to attract good software programmers and engineers for a handsome salary. Companies that started to earn money started attracting good talent whether they needed it or not.

- And then came the Covid pandemic. The whole world came to a standstill , but the boom in the tech world picked up even more speed. Most tech companies went into overdrive due to Covid - the whole world went online in a flash. People worked from home , but before that they had fun online – social media , gaming sites , apps , video platforms , e-shopping, etc. everyone's usage increased dramatically. Tech companies have been hiring new people indiscriminately to meet this sharp surge in demand for their services. Many companies have doubled , tripled or six -folded their employee numbers in the wake of Covid and beyond . Taking on more work from existing employees can be difficult , but growing a team is a little easier—especially when there's a fluctuating income.

These companies believed that the post-Covid boom would last forever. But , as Facebook founder Mark Zuckerberg has admitted, the tech industry's calculations were wrong. With the departure of Kovid, the demand for online services also decreased. Tech companies that have suddenly come under pressure are now rampantly laying off. Many dreams of a tech job abroad have been dashed. In addition to these side effects of Covid , there is no chance of the foreign tech industry bouncing back quickly when there is a possibility of a global recession in many other ways.

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There is ' blood on the street ' in the US tech industry . Indians holding H-1B visas in the US have to find another job within 60 days and if not found, return to India. At that time, the CEO of India's Dream11 company has appealed to Indians who lost their jobs in the US to return to India. He has said that the next decade belongs to India - this optimism is good , but it has no solid basis.

Because India's tech industry is dependent on foreign countries for two reasons - work or funding. Both of these things are currently being felt. Big companies first outsource work to India for lower cost and then repeat orders for better quality of work , but the current global recession will play a role in such outsourcing. Also, the funding received by startups will also decrease, so new hiring will also decrease.

Currently, all domestic and foreign companies are focusing on cost cutting by taking advantage of the opportunity. India's situation is not as bad as abroad , but not very promising either.

What should tech workers , students do ?

An Indian youth shifted from India to Canada after getting a job in Meta and lost his job within two days! It is natural that such news should worry the youth working in the tech company and the parents of the students who want to get a job in it.

It is worth noting that the future of the entire tech industry is not bleak - this is just a phase , which will end sooner or later. But we have to prepare ourselves to face the situation of ' pink slip in hand and no direction ' . If you've moved into the tech industry, one skill or expertise alone won't do. While in college, along with the degree, you must understand and learn about your core field with the help of online courses.

Similarly, moonlighting for another company may not be considered ethical , but we have to learn to create a situation where we have some work to do when the original company lays us off.

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