Tech layoffs surpass Great Recession levels, set to get worse in early 2023

TL;DR

In 2008, tech companies laid off about 65,000 employees, and a similar number of workers lost their livelihoods in 2009, according to data by global outplacement and career transitioning firm global outplacement & career transitioning firm Challenger, Gray & Christmas.According to a MarketWatch report, layoffs are part of a strategy by tech firms to maintain viability through 2023 and beyond.Data from layoffs.fyi, a crowdsourced database of tech layoffs, showed that 1,495 tech companies have sacked 246,267 employees since the onset of Covid-19, but 2022 has been the worst year for the tech sector and early 2023 can even be grimmer.Big Tech companies like Amazon and PC and printer major HP Inc have joined the global layoff season, and were set to lay off more than 20,000 and up to 6,000 employees in days to come, respectively.Staff can’t Take Up Work that’s Against Co’s Interests: GovtThe government said staff can’t take on work that’s against the interests of their employers in addition to their jobs, clarifying the law as a debate rages over moonlighting in India’s tech industry."

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