Tech companies, including startups, around the world fired more than 425,000 employees in 2022 and 2023, with more than 36,000 employees being sacked in India in the same time frame.
Layoffs have become a common occurrence, particularly in the tech industry. However, it is crucial to begin the job hunt with a personalised approach, examining transferable skills, and devising a list of potential companies and roles accordingly. The interview stage must tackle the "why laid off" question professionally and honestly. Despite the impact of layoffs, it is feasible to consider freelance work or entrepreneurship.
Meta Platforms Inc, the parent company of Facebook, has recently made significant changes to its workforce, including the layoff of top executives and the elimination of entire business units in India.
From small startups to large multinational corporations, tech companies of all sizes have been forced to let go of employees in droves, leaving many wondering why this is happening.