Layoffs.fyi, a start-up tracking layoffs to offer financial planning consultancy to businesses, has compiled a list of companies that fired staff and documented the number of employees retrenched company-wise. As per the data available on the website, 1,035 companies globally gave marching orders to a total of 158,951 employees in 2022. In 2023, 56,570 techies have already received pink slips across 174 tech companies. So, the current wave of layoffs has already taken a toll on close to 2 lakh employees. The scale of the current layoffs is thus the biggest since the 2008 meltdown.
Since most companies with transborder operations such as Apple, Amazon, Microsoft, and Google have not given a country-wise break up of layoffs, the impact of the phenomenon on individual nations is not clear.
“The opinion in Canada is divided on how intense the spillover of the US tech crisis would be in Canada. The tech crisis and layoffs in Europe too are not as severe as in the USA,” said Vishal Varadharajan, who works as an engineer in a tech firm in Calgary, Canada.
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