Big tech companies like Meta, Google offer hefty salaries and good facilities to their employees, which is probably everyone’s dream to get. But now working in these companies is no longer safe.
Are you an IT professional and Meta-Google Dreaming of working in a big tech company like? You need to think about this once again. This dream can put you in trouble. This advice is related to the retrenchment in jobs these days, which shows that the jobs of people working in companies like Amazon, Microsoft and Meta are not safe at all.
Obviously, the phase of layoffs in the IT sector is in full swing this year. Recently, Meta has talked about removing 10,000 people from their jobs. On the other hand, if we talk about the layoff in February, the shortest month of the year, then according to a report, more than 77 thousand employees have been removed from US-based companies.
410% more jobs lost in February
Tech companies like Amazon, Microsoft, PayPal and Google’s parent company Alphabet have also laid off thousands of people. According to a report, 15,245 people were laid off in February last year. Accordingly, the job cut in February 2023 is 410% more.
What is the condition of IT companies in India?
- In the last 6 months, the condition of many startup companies in India has become tight.
- According to Tracxn data, Indian startups raised $1.18 billion in January, which is 75% less than in January 2022.
- Apart from this, ShareChat, Byjus, Vedantu, Unacademy, Ola, Meesho, Swiggy and GoMechanics are also doing layoffs.
Talking about tech giants, Amazon and Google have cut jobs in India. Although there is no official data, but according to some reports, Google has fired about 450 people in the country. At the same time, Amazon India has laid off 900 employees. Apart from this, Meta and Microsoft have also cut jobs.
Why are layoffs happening in the IT sector?
Most tech companies have cited the economic slowdown behind this layoff and people have been removed to reduce expenses. On the other hand, the words of the fired employees tell some other reason for this.
In some recent reports, ex-employees of Meta have cited overhiring as the reason behind these layoffs. According to him, the company hired many people only so that they do not go to any other company. Not only this, Meta had no work for these people. The company paid salaries to the employees without working for several months and then later fired them.
Pay attention to these things before joining the job
If you want to avoid retrenchment like those working in Meta or other big companies, then there is a need to learn from these cases.
Before joining any company, do check its Layoff background. The company which can eat people’s jobs once, will not hesitate to do so for the second time as well. Apart from this, read the policies and terms and conditions of the companies properly.
Also read: Meta first deposited employees like Pokemon cards, then fired
Also read: Layoff 2023: What did Zuckerberg say after eating the jobs of 10 thousand people? Gave this message to the employees