Washington: The world's leading tech companies are conducting mass layoffs in 2023 and 2024. Estimates suggest that around 50,000 people will lose their jobs in the first two months of 2024 alone. In 2023, about two and a half lakh people lost their jobs. The same trend continues. Companies are doing mass layoffs because of the huge crisis in the market.
In March too, some major companies laid off employees. IBM was the first to lay off employees. The chief communication officer of the company, Jonathan Adashek, informed that the employees are being laid off. However, he did not specify how many employees would lose their jobs.
After this, Dell, the world famous computer manufacturer, laid off 6000 people. Dell laid off employees due to setbacks in its personal computer division. Dell's revenue fell 11 percent last year. Dell estimates that costs will be high, even though revenue is forecast to increase this year.
Vodafone is another company that has laid off employees. Vodafone laid off 2,000 people in Germany. The layoffs were part of a move to save €400 million.
Ericsson, a Swedish company facing a major crisis in the mobile network market, has dismissed 1200 employees. Canadian telecom giant Bell has lost 5,000 jobs. Bell laid off nine percent of the company's total workforce. Apart from this, some companies have also taken steps to cut the salaries of the employees. Full figures for March layoffs are yet to be released. In addition, it is certain that the number of people who lost their jobs in 2024 will increase significantly.