Most of the tech companies and startups are doing rapid layoffs to cut down their expenses and have reduced the hiring of new people. Meanwhile, Google’s parent company Alphabet Layoff has also shown the way out to hundreds of people.
After the end of the Corona period, there was a sudden increase in jobs. In such a situation, there is a strong demand for recruiters i.e. hiring people. During that time, many people left their jobs and joined the HR team of many companies who hire others. But today the situation has become such that the jobs of those who employ others are in danger. This is happening because most of the tech companies and startups are doing rapid layoffs to cut down their expenses and have reduced the hiring of new people. Meanwhile, news agency IANS has reported that on Wednesday Google’s parent company Alphabet Layoff has also shown the way out to hundreds of people from its strong recruitment team of more than 3000 people.
Why did Google lay off hundreds of people?
The company has said that it has reduced its overall hiring. For this reason, the company has taken a tough decision to reduce the number of its recruiting team. The company spokesperson has said that all possible help is being provided to the laid off employees. Let us tell you that in January this year, Google had made the biggest retrenchment, under which about 12 thousand people were fired, which was 6 percent of the total workforce at that time. At the same time, Google India had laid off about 400 employees in the month of March also.
Had taken hike till 100%, now not getting job
According to industry experts, when there was intense hiring going on in tech companies, thousands of recruitment professionals from staffing/recruitment/search firms got roles to hire corporate talent with salary hikes of 40-100 percent. Now the jobs of many such professionals are in danger. In such a situation, now these people are increasingly turning back to recruitment and staffing firms. However, people who had earlier left these firms to get a bigger hike are now finding it difficult to get jobs there. If we look at it, layoffs are going on in the entire industry and hiring is decreasing, hence the difficulties in getting a job are increasing.
17 thousand layoffs in 70 startups in 6 months
According to the report of CIEL HR, a recruitment and staffing firm, these 17 thousand people have been fired in the first half of 2023 itself. About 70 startups have also done this retrenchment. That means one thing is clear that the difficulties for startups have not reduced yet. This is the reason why employees are being fired from startups every day. Maximum layoffs have taken place in startups from sectors like fintech, edtech, logistics tech, health tech. E-commerce startups dealing in segments like grocery, baby care and personal care have also pulled out people rapidly. Unicorns like Meesho, Unacademy, Swiggy and ShareChat have also laid off people.
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