Expert anticipate mild recession next year. Keeping themeselves ready for it, several tech companies globally have announced lay off in the past few months, making it one of the worst years in the industry. Meta recently laid off 11,000 employees while Twitter cut almost 50% staff this month. However, they are not alone. Several tech companies have taken the same measure to lower their cost and turn themselves profitable in coming months. Here's the list of big tech companies that laid off their employees and what is the percentage of it.
The laid-off workers will get severance pay and the last day of work is reported to be September 30. Media reports said that Microsoft was not satisfied with the quality of work being rendered under HCL who had got the contract work. Now, after the expiry of contract, the employees stand to lose their job, reports added.
India's executives of tech giants like Apple, Google, etc. will testify before a parliamentary panel. The parliamentary committee is looking into anti-competitive practices in digital space. The CCI is already probing various cases, especially in the digital space, following complaints of unfair business practices.