Business / 2023 huge layoffs may happen Economists predict be prepared for it

Job Layoffs News: In the year 2023, big companies around the world are doing layoffs. Many companies including Amazon, Google to Microsoft have made plans to show the way out to the employees. According to economists, there is going to be a huge layoff in 2023. Economists have predicted that their companies will cut payrolls in the coming months. According to media reports, only 12 percent of economists have estimated that employment in their firms will increase in the next three months.

NABE released the report

Let us tell you that this survey was done by the National Association for Business Economics (NABE). This is the first time since the initial days of the Kovid epidemic that more businessmen have estimated job losses in their firms. According to NABE President Julia Coronado, the signs indicate widespread concern about entering a recession this year.

There will be more than 50 percent retrenchment

With big tech companies like Microsoft and Google joining the ongoing layoff season, nearly 3,000 IT workers are now being laid off on an average per day in January globally, including in India. According to the survey, more than half of business economists see the risk of a recession next year of 50 percent or more, which means there will be more layoffs in 2023.

Removed more than 65,000 employees

Let us tell you that 166 tech companies have removed more than 65,000 employees so far. Google's parent company Alphabet has announced plans to lay off 12,000 employees, or about 6 percent of its workforce. Microsoft Chairman and CEO Satya Nadella said last week that the company will make such changes that will result in a reduction of 10,000 jobs in our total workforce by the end of the third quarter of FY 2023.

154,336 employees laid off in 2022

Amazon had earlier announced layoffs of around 1,000 employees in India and 18,000 globally. Music streaming giant Spotify on Monday announced the reduction of 6 percent of its workforce or about 600 employees globally. In 2022, more than 1,000 companies have laid off 154,336 employees, according to data from layoff tracking site layoffs.fyi.com.