More than 150,000 workers have been laid off from the world’s technology sector in one year. The number of layoffs from the sector is increasing every year, according to Reuters, a tracking site for layoffs. Starting from large companies like Microsoft, Twitter, Meta, the list includes small and large companies.
Recently, the e-commerce company Amazon has written its name in the list of layoffs from the technology sector. Amazon hinted at layoffs last November. However, the number of workers laid off is much larger than expected. This time they dismissed 18 thousand workers.
According to analysts, Reuters says that the ongoing economic slowdown around the world due to the Russia-Ukraine war has affected the technology sector. Organizations are choosing layoffs as the fastest way to save costs.
Meanwhile, such incidents are creating instability in the job market amid the ongoing recession. As a result, the global economy and people’s lifestyles are having a huge negative impact.