Tough Time: Around 1 Lakh Layoffs In 6 Months In 2024!

The last two years have been very tough for the employees as far as the layoffs are concerned. The happiness of beating the Covid outbreak did not last long with this. Companies across the sizes and domains are going for layoffs. It looks like 2024 is no different from this.

In what could be a danger signal, close to one lakh employees were sacked by the employers in just six months of this year. In a few days, we will bid goodbye to the first half of the year. Shocking data has come out that companies are on a lay offing spree.

Going by the data shared by Layoffs.fyi, 98,000+ IT employees were sacked by various companies including tech giants. More than 300 employees went for layoffs resulting in a massive number of employees losing jobs.

It is said that the trend of layoffs has changed. The trend of silent layoffs has picked up under which the employees are being informed about losing jobs. They are given one month to get another job. If they fail to do so they are handed over the pink slips.

The trend is concerning for the Indian IT employees too. Companies are sacking them in big numbers. Apple, Google, Microsoft, Meta, and others sacked the employees. The sacked employees include high-paying employees too which is a big concern.

The chances of employees with big salaries getting jobs with other companies are very less. Usually, companies prefer negotiating with them with the salaries. Employees switch companies to get high pay and this might not be possible every time.

A lot of reasons are responsible for the layoffs. Having a crisp workforce, economic uncertainties, and taking safety measures are the main reasons for this. Even the global companies are no different from this.