The market technological gained a lot of momentum with the evolution of technology in recent years. A lot of manpower has become necessary due to the growth of online services, such as e-commerce, for example. However, expectations were surpassed by reality and companies in the field had to opt for mass layoffs due to some factors. Now check out more details.
The layoff wave that swept the tech world
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In a field as promising as technology, it is almost impossible to think about failures and worrying negative numbers. That's because with each passing year, we evolve in an absurd way, technologically speaking. However, the world has seen a devastating wave of layoffs roll over this market.
layoffs in numbers
It wasn't one or two companies that laid off many of their employees, but several. Including those of repute, the giant technology companies, the famous bigtechs. To give you an idea, at Google alone there were 12,000 layoffs, which represents 6% of the company's workforce. In addition, Meta, Amazon, and Microsoft also presented alarming numbers.
The company that owns the Facebook, Instagram and WhatsApp, Meta, laid off 11,000 employees. Amazon has already made about 18,000 layoffs. The period observed is from 2020 until then. On the part of Microsoft, another 10,000 employees received the letter of resignation.
In addition to them, other large companies also appear on the list, check out some examples:
Company — Layoffs
- Uber — 6,700
- Cisco — 4,100
- IBM — 3,900
- Twitter — 3,700
- Airbnb — 1,900
After all, why did this happen?
As everyone knows, the COVID-19 pandemic has completely messed up the functioning of the world. Ironically, one of the biggest beneficiaries was the technology market, but that was at the beginning of it.
With the current lockdown in several areas of the planet, billions of people started to use electronic devices more, setting fire to the technology market. This made companies believe that the future would be promising and, consequently, hired many people. Thus inflating the technology market.
In fact, professionals were so competitive that high salaries began to perpetuate themselves in the technology market. However, the negative impacts of the pandemic did not forgive and soon ended the positive expectation generated. Economic recession, high inflation and low demand turned the scenario into a nightmare and companies were forced to fire their employees.
