● A sudden drop in the demand for talent in IT & BPM sector results in hiring freeze and layoffs ● Software Development is the most sought-after domain in this segment
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Layoffs are a part of course correction in business. Just as much as hiring newer staff is. A high-profile company like Facebook or Twitter gets attention when it announces a headcount correction
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Sets up newest technology innovation centre in Gurugram following recent launches in Hyderabad and Bangalore Global supply chain solutions provider is ramping up its technology staff numbers as it seeks innovative solutions to automate trade flows
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Both Twitter and Meta are currently overshadowed by bad publicity, loss of knowledge, weakened engagement, higher voluntary turnover, and lower innovation
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The news of slashing isn't new in the German automotive and industrial supplier, in 2020 they announced the reduction of 4,400 jobs
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The layoffs are happening in the name of reducing costs, due to disappointing earnings and a drop in revenue
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Mark Zuckerberg said, "I want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I'm especially sorry to those impacted."
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The company has not confirmed the exact number of people laid off but it is less than a thousand
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