Microsoft to Lay Off 10000 Workers
Another big company announced that layoffs are on the way. As the title suggests Microsoft announced that they are cutting 10000 jobs which is around 5% of the entire workforce they actually have. In around 1 year more than 200000 people from the tech sector lost their jobs. This also includes HR and Business personnel along with the developers.
Also, we need to take into account that these layoffs are hitting one after the other from big corporations like Amazon, Meta, Microsoft, Coinbase, Twitter, Salesforce, Tesla, Netflix etc etc. In case you are wondering the CEOs that announced these layoffs mentioned that this is happening in order to save costs.
Now some of the reasons behind these moves are ofc the war which led to inflation and thus many everyday people are trying to save and reduce their costs. Another reason was Covid19 and it may be the exact opposite you are thinking. The whole pandemic helped mostly every tech company out there as everyone had to stay home and needed to do everything from their computer or smartphone.
Just imagine that according to a report by the United Nations' Broadband Commission, global internet traffic increased by as much as 60% during the pandemic. The report also highlights that the pandemic has accelerated the shift to remote work and online education, which has led to a significant increase in video conferencing, streaming, and cloud-based services.
Additionally, the pandemic has also led to an increase in online shopping and e-commerce as people were unable to visit physical stores. A report by the National Retail Federation estimated that e-commerce sales increased by as much as 44% during the pandemic.
As you imagine all of these tech companies due to the workload during the pandemic had to increase their staff to be able to be competitive as well. Now that the pandemic is over and internet usage and services dropped they don't have what to do with the staff and thus they start firing people.
The only good things that will come out of this is 1) the extremely unbalanced salaries of the IT guys will get a tiny decrease and 2) all of these people that left these enormous companies are highly skilled with good resume and the majority of them will easily land another job.
What's your Opinion?
Posted Using LeoFinance Beta
