Twitter CEO Elon Musk is closing Twitter offices globally to improve the company’s financial health. Despite Delhi becoming a hot spot of political interference and national controversies, it is alleged that it does not contribute significantly to Twitter’s income.
Google is laying off around 12,000 employees globally. This is about six percent of the company’s total workforce. Google’s parent company, Alphabet, announced this last month. Following this, Google will cut 453 employees in India. With further job losses ramping up, the IT sector is expected to lose 10,000 jobs in a few months.
Also Read: Google to lay off 453 employees in India
Why the job loss?
Microsoft, Alphabet, Amazon and Salesforce have also laid off thousands of people. The objective of companies is to cut operating costs and increase profits. The salary of techies has increased after covid. Higher salaries will also lead to widespread job losses.
During the spread of Kovid-19, there was a growth in the tech sector. During this time the companies increased the hiring. Attractive salary packages also attract more employees. Optimism among companies has risen as the world has returned to normal life after the Covid-19 pandemic. There is high growth potential. But facing inflation and the threat of a global recession are other reasons behind tech companies’ layoffs.
What is the situation in India?
Meanwhile, most of the job losses in the US are in the technology sector. Union Minister of State for IT Rajiv Chandrasekhar clarified that not in India. He pointed out that 18 lakh jobs have been created in the technology and electronic sector in two years after the Covid in India.