Mumbai, April 23: The year 2023 began on an unpredictable note with global companies cutting hundreds and thousands of jobs across sectors in view of the global recession. There have been layoffs everywhere, from tech to consulting and from finance to the service sector. The development of more layoffs comes after financial consulting giant Deloitte said that it would be cutting off around 1,200 jobs in the United States.
Earlier in the year, prominent companies such as Google, Twitter, Meta, Microsoft and others sacked thousands of employees across the globe, Now, with the economic uncertainty looming large, many companies are planning more layoffs in a bid to control costs. Here, we take a look at some of the notable companies that will be sacking off thousands of employees this year. Biggest Layoffs 2023 in Tech Industry: Top Companies That Announced Job Cuts Impacting a Major Chunk of Their Workforce.
Job cuts at Deloitte:
Financial consulting firm Deloitte recently said that it would be cutting around 1,200 jobs in the United States. According to a report by the Financial Times, the layoffs at Deloitte is likely to cut 3 percent of the total workforce in the company's Risk and Financial Advisory division.
Lyft Layoffs:
Amid the layoffs season, Lyft, a ride-hailing firm Lyft said that it is planning to reduce the size of its team "as part of a restructuring" in order to focus on better meeting the needs of riders and drivers". The layoffs at Lyft, which is a rival of Uber are likely to affect 30 percent of its 4,000 employees. If reports are to be believed, at least 1,200 workers will be let off by Lyft.
Layoffs at Disney:
After announcing to sack of at least 7,000 employees earlier in the year, Walt Disney Co is reportedly planning another round of layoffs this month. As per reports, the company is planning to lay off hundreds and thousands of employees in addition to the January layoffs. The entertainment company is planning to sack 15 percent of the workforce from its entertainment division. Layoffs 2023 Reasons: Overhiring Behind Job Cuts; Over 71 Percent Employees Worried About Potential Layoffs Due to Market Inflation, States Report.
Job cuts at Apple:
Reportedly, Apple is also planning to lay off a small percentage of people from one of its corporate teams. Reports suggest that the tech company has asked some of its corporate retail employees to reapply for their jobs or else they will be laid off. The move by Apple is seen as a "way to improve its operations" rather than a cost-cutting measure. It must be noted that the iPhone maker is the only tech company which has not announced any major layoffs this season.
FanClash Layoffs:
According to media reports, India's very own fantasy esports startup FanClash has reportedly laid off about 75 percent of its workforce. Various reports suggest that the startup sacked about 100 employees in three rounds. Those who have been impacted due to the layoffs have received a two-month salary as a severance package. CRISIL on Tech Layoffs 2023: Job Cuts Did Not Have Any Impact on Education Loan Repayments in FY23.
Layoffs at Ernst & Young:
Besides companies like Apple, Disney and Deloitte, another well-known consulting giant Ernst & Young has also announced layoffs. Last week, the company said that it would slash around 3,000 jobs or roughly 5 percent of its workforce in the US due to overcapacity in various parts of its firm.
Meanwhile, a recent survey revealed that more than 71 percent of people are worried about the potential layoffs due to market inflation while 36 percent of them believe that over-hiring is the reason for attrition. The survey also revealed that cost-cutting is the reason behind the layoffs as per 30 per cent of the respondents.
(The above story first appeared on LatestLY on Apr 23, 2023 04:08 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).