May 30, 2022
According to a report, more than 15,000 employees working in the IT sector lost their jobs internationally in May as global macro-economic factors hit companies.
Throughout 718 firms around the world have laid off 1.25 lakh employees since the Covid-19 outbreak began in March 2020.
Several concerns confront tech companies, including growing inflation, recession fears, and the Russia-Ukraine conflict.
Meta (previously Facebook) and Twitter have both declared employment restrictions, while Snap, the parent company of Snapchat, has acknowledged that it is limiting hiring due to revenue targets not being met.
Vtex, an enterprise e-commerce platform, has announced the layoff of 193 employees.
PayPal’s US headquarters in San Jose has laid off dozens of staff.
Getir and Gorillas, two of the most popular instant grocery apps, announced layoffs this week. Getir, a Turkish company, said it aims to cut its global staff by 14%, while Gorillas said it was making the “very difficult decision” to let off roughly 300 people.
Source: Business Standard
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