March layoffs 2023: Layoffs have become the latest trend in the market this year as well. 2023 has turned jittery for those seeking jobs. There is a scarcity of employment for people finding work as the jobs of existing employees are in jeopardy. A slew of companies, be it startups or the biggest names in tech like Google, Twitter and Amazon among others have been on a layoff spree. The decision of recalibration of head counts and tightening of belts is due to concerns about the slowing economy. As per layoffs.fyi, March 2023 quarter recorded the highest number of job cuts since the COVID pandemic. Let‘s take a look at some of the tech giants that slashed jobs in the month of March.
US-based job search firm announced on March 22 that it would cut off about 2,200 jobs, which is about 15% of its workforce. It joins a heap of companies that are downsizing their workforce as a result of a pandemic-driven employment boom.
In addition to the previously announced layoffs that started in November and continued till January, Amazon on March 20 announced that it will fire 9,000 more workers. Amazon decided to reduce staff numbers in an effort to reduce expenses.
The Dublin-based tech company, Accenture which focuses on providing software solutions to business customers is planning on firing 2.5% of its workforce. It announced its plans to cut 19,000 jobs on March 23. As per Economic Times, about 40 per cent of Accenture’s workforce operates from India. The company stated in a regulatory filing that the layoff procedure will take 18 months to finish.
Meta announced on March 14 that it would be laying off 10,000 more employees and incurring restructuring costs of between $3 billion and $5 billion. CEO Mark Zuckerberg confirmed the same saying that the economic unrest could last for many years.
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