HomeTech newsLayoffs 2022: Recession Hits! After Meta, Amazon, now these American companies...

Layoffs 2022: Recession Hits! After Meta, Amazon, now these American companies also announced layoffs

Layoffs 2022: After retrenchment of employees in companies like social media platforms Facebook, Twitter and e-commerce company Amazon, now many big corporate companies of America are laying off their personnel. These corporate companies have taken this decision due to the rising inflation in America and the rising interest rates of the Federal Reserve. After these decisions of companies, the possibility of recession in the whole world including America has increased further. After February 2021, these American companies have done the biggest layoffs in November 2022. In the last few days, the layoffs in America have increased by 13 percent.

According to media reports, thousands of people working in the company may become unemployed. Due to the Corona epidemic and the Russia-Ukraine War, recession is being seen worldwide. In the last few days, many big companies have announced the retrenchment of their employees.

Amazon also laid off on a large scale
The world’s largest e-commerce platform Amazon has also started laying off its employees. In view of the economic crisis, the company has told the Regional Authority of California that it is going to lay off 250 employees from its company. This includes Data Scientists, Software Engineers and other corporate workers. This retrenchment will be applicable till 17 January 2023. The thing to note is that the company has not yet made it clear that how many people it is going to lay off in total. Amazon gives employment to about 1.5 million people all over the world. Amazon has attributed the decreasing revenue behind these layoffs.

Many giant companies started layoffs
Apart from this, the parent company of Facebook has also recently informed that it is going to lay off 13 percent of its personnel. The company has fired 11,000 workers from all over the world. This sorting is one of the biggest sorting in the world. Apart from this, after the Twitter takeover of Elon Musk, the company has laid off about 50 percent of its employees (Twitter Layoffs). More than half of the employees of Twitter India are being fired. Apart from this, the streaming platform Walt Disney has also announced layoffs.

News Reels

Walt Disney has completely banned the hiring of new personnel. Along with this, the company is also planning to lay off many employees. Apart from this, Microsoft has also laid off 10,000 employees. Apart from this, layoffs have also been announced in Morgan Stanley, Citigroup, Intel Corp. Intel Corp has announced cost cutting up to $3 billion. Apart from this, many companies like pharma company Johnson & Johnson, vegan meat maker Beyond Meat Inc, online banking firm Chime, Phillips 66, Arrival SA have decided to reduce the workforce for cost cutting.

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