Massive Layoffs In The Tech Sector In America!

America has the image of a land of opportunities. True to the image, people from various countries go there for employment opportunities. However, the current trend shows that the nation is slowly coming out of the image as massive layoffs are made. The tech sector is facing severe layoffs.

As a big example of what is going on in the country, 32,000 employees have been sacked in the US so far. Irrespective of the sizes the companies are going for layoffs. The employees are fearing the zoom calls as the news of their sacking ss informed them. Two companies did the same.

A start-up company called for a zoom call with the employees. The CEO spoke to the employees and told them the shocking news. Around 200 people were sacked. After the meeting, the news was shared. The employees would have not predicted the big shock before the meeting.

The same was the case with another company. Employees working in the Real Estate wing of the company were sacked at once. One meeting changed their life as they were sacked.

Be it small companies or giants the same is the trend. The employees are sacked. Compared to the other companies the tech employees are in danger. 2023 saw around 2.4 lakh employees losing their jobs. 2024 is hinting that it will not be any different.

Looking at the reasons for this, the companies lost the projects after the Covid fear. During the covid outbreak, companies had many projects in hand. Seeing the situation, employees even held multiple jobs which is called moonlighting policy. But things changed later and the companies lost the projects.

With no big work in hand, the companies are going for layoffs. Thousands of employees were sacked already and the experts say that the trend might continue for a few months. If the same continues then we can say that 2024 will not be any different from 2023.