‘Big Techs’ already laid off 40 thousand in 2023; total in the sector is 100 thousand, according to a survey

[ad_1]

Soma was leveraged by mass layoffs at giants like Microsoft, Amazon and Google. Inflation, reduced advertising and excess hiring explain the negative scenario. Facebook, Apple, Google and Microsoft Montage/Reuters The group of “big techs” formed by Apple, Microsoft, Amazon, Meta (owner of Facebook, Instagram and WhatsApp) and Alphabet (Google) has already laid off 40,000 people in the first month of 2023 The layoffs in January occurred at three companies in this group: Amazon (18,000 employees); Microsoft (10 thousand); Google (12 thousand). Considering the entire technology sector, January saw nearly 100,000 layoffs. This is what a survey of the TrueUp platform, specializing in jobs in the area, points out. ALSO READ: ‘Big techs’ lose nearly US$ 4 trillion in market value in 1 year Twitter is sued in London for not paying office rent What’s the reason? The macroeconomic slowdown and the drop in advertising revenue explain the negative scenario. To begin to understand the situation of the “big techs”, it is necessary to take into account the consecutive hikes in the interest rate in recent months, in the United States, to contain inflation. In addition to impacting sales, the scenario has made companies reduce advertising spending, which has a huge impact on technology giants that depend on ads. Also, the Covid-19 pandemic has given hope to the sector with so many people online and boom in the electronics sector. With this perspective, companies made mass hiring, which later did not prove to be sustainable. G1 Explains: the big tech crisis G1 Explains: the big tech crisis

[ad_2]

Source link