Adani Enterp. 2515.95↓-18.10(-0.71%)
Adani Ports 735.00↓-2.50(-0.34%)
Apollo Hospitals 4684.90↑44.45(0.96%)
Asian Paints 3149.40↑12.00(0.38%)
Axis Bank 935.65↑5.85(0.63%)
B P C L 360.80↓-0.90(-0.25%)
Bajaj Auto 4600.00↓-18.50(-0.40%)
Bajaj Finance 6980.00↑47.95(0.69%)
Bajaj Finserv 1451.95↑2.40(0.17%)
Bharti Airtel 820.40↓-0.85(-0.10%)
Britannia Inds. 4575.05↓-0.20(0.00%)
Cipla 961.05↑4.80(0.50%)
Coal India 244.15↓-1.95(-0.79%)
Divi's Lab. 3456.45↓-21.40(-0.62%)
Dr Reddy's Labs 4518.00↓-38.25(-0.84%)
Eicher Motors 3693.70↓-17.75(-0.48%)
Grasim Inds 1721.70↑8.40(0.49%)
H D F C 2678.95↓-11.60(-0.43%)
HCL Technologies 1140.75↑14.55(1.29%)
HDFC Bank 1631.00↓-4.50(-0.28%)
HDFC Life Insur. 573.60↓-5.45(-0.94%)
Hero Motocorp 2790.90↑14.00(0.50%)
Hind. Unilever 2659.00↑8.70(0.33%)
Hindalco Inds. 412.85↓-7.05(-1.68%)
ICICI Bank 947.50↓-0.65(-0.07%)
IndusInd Bank 1290.15↑5.20(0.40%)
Infosys 1315.85↑1.45(0.11%)
ITC 450.10↑1.00(0.22%)
JSW Steel 705.50↑3.30(0.47%)
Kotak Mah. Bank 1969.65↑16.45(0.84%)
Larsen & Toubro 2211.85↓-12.70(-0.57%)
M & M 1329.65↓-0.50(-0.04%)
Maruti Suzuki 9380.00↑46.50(0.50%)
Nestle India 21580.15↓-149.30(-0.69%)
NTPC 176.10↓-0.20(-0.11%)
O N G C 158.10↓-0.90(-0.57%)
Power Grid Corpn 235.20↑0.70(0.30%)
Reliance Industr 2526.15↑5.55(0.22%)
SBI Life Insuran 1215.60↓-2.50(-0.21%)
St Bk of India 593.65↓-1.35(-0.23%)
Sun Pharma.Inds. 963.00↓-5.45(-0.56%)
Tata Consumer 792.40↓-1.85(-0.23%)
Tata Motors 519.00↓-2.45(-0.47%)
Tata Steel 107.50↓-0.95(-0.88%)
TCS 3312.50↓-7.85(-0.24%)
Tech Mahindra 1103.15↓-10.90(-0.98%)
Titan Company 2811.45↓-0.80(-0.03%)
UltraTech Cem. 7919.25↑78.70(1.00%)
UPL 688.35↓-1.65(-0.24%)
Wipro 403.20↑3.40(0.85%)

Why big tech is firing employees by the thousands? Should we be worried?

What exactly led to this massive shakeout? And what does it mean for the industry, and you?

Nathalie Collins, Jeff Volkheimer & Paul Haskell-Dowland | The Conversation

Premium

Photo: Bloomberg

5 min read Last Updated : Jan 26 2023 | 4:40 PM IST

Tech companies are always in the news, usually touting the next big thing. However, the tech news cycle recently hasn’t been dominated by the latest gadget or innovation. Instead, layoffs are in the headlines.

In the last year, more than 70,000 people globally have been laid off by Big Tech companies – and that doesn’t count the downstream effect of contractors (and other organisations) losing business as budgets tighten.

What exactly led to this massive shakeout? And what does it mean for the industry, and you?

What’s the damage?