Geomagnetic Storms may Affect United States Power Supply in 2024
Layoffs in 2023 by Major Tech Companies
By Indu Tyagi Ketan , 31 January, 2023
2023 is seeing major tech layoffs in some of the world's biggest tech companies. Microsoft, Alphabet, Amazon, and Salesforce are the companies ahead in this layoff in 2023. Among these, Microsoft and alphabet are the latest companies to announce significant job cuts, per the reports.
Big companies like Microsoft, Amazon, etc., and smaller tech firms face declining revenue. This decline is happening since these companies hired binge during the pandemic when lockdowns forced remote work and were suitable for e-commerce.
The layoff in 2023 is worse than in 2022 even. But it is forecasted that global IT spending may rise in 2023. The survey said that in 2022, the tech sector cut employees more than 150,000; in some initial weeks of 2023, layoffs reached 30 percent of that figure.
In January 2023, Satya Nadella, CEO of Microsoft, confirmed that the company would cut off 5 percent of its workforce by impacting 10,000 employees. The report says Amazon is to lay off nearly 18,000 employees. And the majority of the job cuts will be seen in the Amazon Stores and People, Experience, and Technology (PXT) organizations.
As per the CEO of Andy Jassy, the layoffs result from 'the uncertain economy,' but then added that releases will provide long-term opportunities for a more robust cost structure for the companies. According to the reports, experts are expecting widespread job cuts throughout 2023.
Major Tech Company Layoffs
Latest News
Geomagnetic Storms may Affect United States Power Supply in 2024
Geomagnetic storms in 2024 will affect America's power supply in the coming years. North America experiences geomagnetic storms, one after the other, within two months. The risk of geomagnetic storms is growing significantly due to increasing…
Surveys Shows UK to Increase Wind Power Prices to Maintain Progress in Clean Energy Transition
The United Kingdom is increasing its clean energy goals in 2024. The nation strives to meet its clean energy ambitions in the next five years. Hence, it shows that the UK needs to implement specific rules and policies to increase the pace of clean…
Net-Zero Goals to Drive Copper Demand in Future
Copper is an essential element in the energy sector. Its demand is growing significantly due to the clean energy transition in 2024. A survey conducted in 2024 shows that net-zero targets are driving the copper demand in the energy sector. Copper is…
US to get Benefits from Grid-Enhancing Technologies in 2024
Grids are an essential part of the renewable production process in the energy sector. It helps to transfer power to industries and homes. Grid-enhancing technologies (GETs) are an important solution to improve the transmission process. If renewable…
Elevated Interest Rates Affects Car Demands in 2024
The automotive industry faces changing dynamics at the industrial level. This is due to the fluctuating prices of vehicles, which will be accompanied by new incentives in 2024. A further study in 2024 shows that new car incentives struggle with…
Indu Tyagi Ketan
Chief Strategy Officer
