BanklessTimes has recently revealed its findings after analyzing data to reveal the major tech companies laying off staff in March 2023. March isn’t yet over, and already two of the world’s largest tech firms have announced significant layoffs. Meta is to let go 10,000 of its employees, while Amazon is not far behind with 9,000 worker redundancies.
"Meta and Amazon are not the only household name brands to find themselves struggling in recent months. In January, Alphabet, the parent company of search engine Google, announced its biggest series of post-pandemic layoffs, cutting 12,000 jobs, representing 6% of the tech giant’s total workforce.
So far in 2023, we have already seen 528 tech companies announce layoffs, and sadly in the current climate of economic uncertainty and cost pressure, it seems inevitable that redundancies in the industry will continue well into the next few months, and that the pinch is being felt across the globe."
"When we think of redundancies we often think of corporate insolvencies, but what I think is unusual here is that Amazon, Meta, and Google are all highly successful companies still turning enormous profits. This must be a worrying time for anyone employed in the tech industry because even those in flourishing businesses cannot necessarily count on job security," commented Jonathan Merry, CEO of BanklessTimes.
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