Reports that IT layoffs will exceed those of the Great Recession in 2022

Approximately 65,000 individuals were laid off by IT businesses in 2008, and a comparable number of people lost their jobs in 2009, according to statistics from Challenger, Gray & Christmas, a worldwide outplacement and career transitioning agency.According to the research, 965 IT businesses have fired more than 150,000 workers globally this year, exceeding the Great Recession-era levels of 2008u20132009.Layoffs are a part of a plan used by tech companies, according to a MarketWatch study, to stay profitable through 2023 and beyond.Since the start of Covid-19, 1,495 tech businesses have laid off 246,267 people, according to data from layoffs.fyi, a crowdsourced database of tech layoffs. However, 2022 has been the worst year for the industry, and early 2023 might be much worse, according to a report on Thursday by CNBC TV-18.
 Source : The Economic Times More than 73,000 US IT industry employees have been let go as of mid-November as a result of widespread employment layoffs spearheaded by firms including Meta, Twitter, Salesforce, Netflix, Cisco, Roku, and others.Over 17,000 techies in India received the pink slip in the meanwhile.Alphabet, the parent firm of Google, has been considering terminating approximately 10,000 workers worldwide. On Tuesday, CEO Sundar Pichai said: What we’ve been working really hard on, and you’ve seen the messaging for the past many, many months, is trying to make important decisions, be disciplined, prioritise where we can, and rationalise where we can so that we are better prepared to weather the storm, regardless of what’s ahead. I think that’s what we should focus on and try and do there.Share your thoughts with us in the comments.