Why are there layoffs in companies like FB, Apple, and Amazon, is the world in a recession?

Posted on 7th Nov 2022 by rohit kumar

Is there a recession in the world? Questions are being raised about how giant companies including Facebook, Twitter, and Amazon have done layoffs and banned recruitment. The tech industry witnessed rapid growth in the past decade and now such layoffs in the sector have raised concerns. Tech and edutech companies in India have laid off people on a large scale. The way people have been thrown out in many companies, including Bjyu's, has raised questions. Amazon has announced that it will not recruit for some posts. At the same time, Apple says that it is also going to ban recruitment in some departments.

 

A few months before these, giant tech companies Google and Facebook also banned hiring. Apart from this, some startups have done large-scale layoffs. Twitter has fired about half its employees in a single day. This is the case for companies that have earned or got funding in a big way. But the fall in profits and the sound of a slowdown have forced these companies to cut spending. According to a survey by KPMG, many more companies may be on the path of layoffs in the next few months.

 

In India too, companies like Bjyu's have done big layoffs

 

The way users were associated with online companies during the Corona period, that figure is now decreasing. Instead of using more and more online content, the world is now again returning to the earlier mode. Whether the world's famous company Amazon or India's edutech company Bjyu's, all have suffered losses. Amazon's profit has been 22 percent lower this time than in the third quarter of last year. The company says that the demand has come down. In such a situation, Amazon has now banned new recruitment. Facebook-owned company Meta may lay off thousands of employees, according to the Wall Street Journal.

 

There is also a stir between Microsoft and Intel

 

Microsoft has also laid off about 1,000 employees in the past. The company has laid off many people at all levels and countries. "Like all companies, we continue to assess our business priorities," Microsoft said in a statement. There is also news about another well-known company Intel that thousands of employees can be laid off. This layoff will have the biggest impact on the company's sales and marketing teams. It is being said that the company can lay off 20 percent of the staff.

 

Also Read: Meta Layoffs: After Twitter, now there are massive layoffs in Meta, this week thousands of workers may lose their jobs

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