NEW DELHI: After years of rapid expansion, a trend of freeze in hiring and layoffs has been observed among startups and major tech companies. So far, around 150 US-based companies have laid off over 37,000 people in 2022. Most layoffs were reported in June with 75 US-based tech companies laying off its staffers.
This layoff has affected almost every tech company from startups like Robinhood, Gemini, On Deck and Hopin to the ‘big names’ like Apple, Google, Microsoft and Amazon. According to a report by Insider, Google Cloud sales leadership has threatened employees with an "overall examination of sales productivity and productivity in general" and that if next quarter results "don't look up, there will be blood on the streets."
