Tech Layoffs: More Than 1,600 Employees Were Laid Off In An Average Day In January

Tech Layoffs: More Than 1,600 Employees Were Laid Off In An Average Day In January

January 20, 2023: Amid the economic slowdown and fears of a recession, layoffs have accelerated and an average of 1,600 tech workers are being laid off a day in 2023 globally, including in India. 

According to data released by layoffs.fyi, a layoffs tracking site, a total of 1,024 companies laid off 154,336 workers in 2022. 

Mass tech layoffs continue in 2023 and India’s companies and startups are leading the way in laying off employees. 

Here are some records of company layoffs in the last two years: 

India-based social media company ShareChat (Mohalla Tech Pvt Ltd) laid off 20% of its workforce, affecting over 500 employees due to market uncertainty. 

Backed by leading companies like Google, Twitter, Tiger Global and Snapchat, ShareChat currently has around 2,300 employees. 

ShareChat laid off less than 5% of its workforce in December 2022 after the company shut down a fantasy sports platform called Jeet 11, IANS reported. 

Ola, one of the world’s largest ride-hailing companies and operating in more than 250 cities in India, Australia, New Zealand and the UK, laid off 200 of its employees this month. Along with this, voice automated startup Skit.ai also dominated the headlines for its staff layoffs. 

Another company Dunzo, which delivers groceries and essentials to major Indian cities, also laid off 3% of its workforce as part of its cost-cutting measures, IANS reported. 

Most of the tech workers lost their jobs as early as 2023. In just 15 days in January, 91 companies laid off more than 24,000 tech workers, a sign that worse days are ahead this year. 

E-commerce giant Amazon laid off around 18,000 employees, including around 1,000 from India. 

At this time, LinkedIn is flooded with users looking for jobs, offers of support for displaced friends and colleagues, and suggestions and advice for employees as many companies cut back on their manpower to weather the uncertain macroeconomic environment. 

Data from Sensor Tower, a market research firm, shows that the LinkedIn app was downloaded an estimated 58.4 million times from the Google Play Store and Apple App Stores worldwide in 2022, up 10 percent from 2021, reports IANS.

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