Includes data scientists, software engineers and other corporate workers. This retrenchment will be applicable till 17 January 2023.
(Agency) New Delhi, After laying off employees in companies like social media platform Facebook, Twitter and e-commerce company Amazon, now many big corporate companies in America are laying off their employees.
These corporate companies have taken this decision due to rising inflation in America and increasing interest rates of the Federal Reserve. After these decisions of the companies, the possibility of recession in the whole world including America has increased. After February 2021, these American companies made the biggest layoffs in November 2022.
In the past few days, layoffs in America have increased by 13 percent. According to media reports, thousands of people working in the company may become unemployed. Due to the corona epidemic and the Russia-Ukraine war, the world is experiencing a recession. In the last few days, many big companies have announced layoffs.
Amazon, the world’s largest e-commerce platform, has also started laying off its employees. In view of the financial crisis, the company has told the California Regional Authority that it is going to lay off 250 employees from its company.
This includes data scientists, software engineers and other corporate workers. This retrenchment will be applicable till 17 January 2023. Notably, the company has not yet specified how many people it is going to lay off in total.
Amazon employs around 1.5 million people worldwide. Amazon has attributed the layoffs to declining revenue. Apart from this, the parent company of Facebook has also recently informed that it is going to lay off 13 percent of its employees.
The company has laid off 11,000 workers worldwide. This sorting is one of the largest sorting in the world. Apart from this, after Elon Musk’s takeover of Twitter, the company has laid off nearly 50 percent of its workforce. More than half of Twitter India’s employees have been laid off.
Apart from this, streaming platform Walt Disney has also announced layoffs. Walt Disney has completely banned the hiring of new employees. Along with this, the company is also planning to lay off many employees. Apart from this, Microsoft has also laid off 10,000 employees.
Besides, layoffs have also been announced at Morgan Stanley, Citigroup, Intel Corp. Intel Corp has announced up to $3 billion in cost cuts. Apart from this, many companies like pharma company Jansen & Jansen, vegan meat maker Beyond Meat Inc, online banking firm Chime, Phillips 66, Arrival SA have decided to reduce the number of employees to reduce costs.