Retrenchment started in India too
Amid fears of a global recession, after multinational companies, now Indian companies have also started laying off employees (Layoff 2023). However, experts say that even if there is a recession, it will not affect India.
Starting from Twitter, the retrenchment of employees has reached India’s Wipro via Microsoft, Google, Amazon. Wipro has decided to lay off around 800 employees. However, following media reports, Wipro said it would lay off 452 employees.
The reason behind the retrenchment was that the people who were fired were freshers and their performance was poor. “We had to weed out 452 freshers as they repeatedly failed assessments even after training,” the company said.
According to media reports, in the termination letter sent to the employees, Wipro has said that these employees are liable to pay Rs 75,000 as it was spent on their training. However, Wipro has written in the same mail that the company has waived off the amount.
Apart from Wipro, Indian companies that have announced layoffs include HP, Swiggy and ShareChat. Software company HP has fired 6,000 of its employees. At the same time, HCL Technolog has fired 350 employees while announcing layoffs globally.
Food delivery company Swiggy has announced to lay off around 400 employees. It is said that reducing the workforce by about 10 percent, a total of 6,000 people will be fired. In November last year, food delivery company Zomato had laid off 120 employees. Earlier in May 2022, 520 employees were removed.
At the same time, Cars24 company has also fired 600 employees. Last year also this company fired 650 employees. Edtech’s top company Byju has fired 1,100 companies. Apart from this, startup edutech companies like Unacademy, Vedantu, Lido, Frontrow, Lido have also fired thousands of employees.
Online goods delivery company Dunzo has also announced a 3 percent reduction in its workforce. Accordingly, about 100 companies will be pulled out. Dunzo company has got the support of Google. At the same time, video sharing platform Sharechat has laid off 20 percent i.e. about 450 employees.
downsizing foreign companies
Similarly, Google’s parent company Alphabet has announced the removal of 12,000 employees globally. This is 6 percent of the company’s workforce. Google has announced 16 weeks’ salary and 2 weeks’ compensation to the laid-off employees. Along with this, these people have also been assured of help in finding jobs.
Apart from Google, software giant Microsoft has also announced layoffs of 10,000 employees. This is about 5 percent of the total employees of the company. Microsoft employs 2.20 lakh employees worldwide. The company cited tough economic conditions behind the layoffs.
Earlier, Facebook’s parent company Meta had announced the removal of 13 percent of its total employees. Accordingly, the future of 11,000 employees was hanging in balance. He had said that big tech companies are finding it difficult to earn profit. That’s why we are forced to take such a decision.
Amazon has laid off 6 percent of its 18,000 employees. Among the employees who were evacuated, 1,000 were Indians. Earlier, Twitter had announced the removal of 3,800 employees in November 2022. Along with this, the contract of 4,500 contract employees was also terminated.
At the same time, a company called Salesforce has removed 10 percent of its total workforce i.e. 800 employees. Software company HP HP removed 600 people, cutting the number of employees by 10 percent. At the same time, Seagate has removed about 250 employees. This is about 8 percent of the total workforce of the company.
Another media company Snapchat has also shown the way out to its 6,400. At the same time, in the last year 2022, China’s multinational company Alibaba had shown the way out to more than 9,241 employees.