Winning Bizness Desk
Mumbai. Bad news keeps pouring in for IT sector companies. After companies like Google, Facebook and Amazon, now German business application software maker SAP will lay off 2.5 per cent of its total workforce globally and the recent news of layoffs coming in the world's tech companies is very disturbing. Most of the employees of tech companies are worried that the sword of retrenchment will start hanging in their company. Amidst the sound of economic crisis in the world, the phase of retrenchment is going on in big companies, due to which the question is arising whether the shadow of economic recession is starting? SAP is laying off around 3000 employees. Not only this, to deal with the economic crisis, SAP has also made preparations to show the way out to more than 200 staff in Germany. With the announcement of this layoff, SAP has now joined the list of Alphabet-owned companies like Google, Microsoft, Amazon and Meta, which have laid off thousands of people in recent times. Every company has blamed the economic crisis behind the retrenchment.
American companies hiring!
Despite the continuous reduction of jobs by tech companies, the demand for positions in these companies has not reduced in America. Eight out of the top 10 best jobs this year are technology-related jobs. According to data from job portal Indeed, tech jobs in high demand are topped by full-stack developers, followed by data engineers, cloud engineers, senior product managers and back-end developers. Nearly half of the top 25, or about 44 percent, had tech jobs in the US market, reported CNBC, citing the data. Industries like Retail, Finance, Professional Services, Travel, Government, Aerospace, Health Care are looking for people with tech skills.
- SAP- 3000
- IBM Corp - 3,900
- Alphabet – 12,000 employees
- Amazon - 18,000 employees
- Meta - 11,000 employees
- Twitter - 4,000 employees
- Microsoft - 10,000) Employees
- Salesforce-8,000 Employees
Indicator of recession ?
This is the first time since the initial days of the epidemic that more and more business leaders have estimated to reduce jobs in their firms. According to NABE President Julia Coronado, the results indicate a recession this year. So far this year, more than 166 tech companies have sacked more than 70,000 employees. In 2023, layoffs are being done on a large scale and according to a report citing a new survey, only 12 percent of economists polled by the National Association for Business Economics (NABE) forecast that their firms would increase employment in the next three months, up from this fall. is less than 22 percent.
The Ministry of Commerce and Industry said in a statement that in December 2022, the inflation of food items was negative 1.25 percent and the inflation of fuel and electricity was 18.09 percent. Inflation in manufactured products was 3.37 percent in the month under review. According to the statement, the decline in the rate of inflation in December 2022 was mainly due to the fall in the prices of food items, mineral oils, crude oil and natural gas, food products, textiles and chemicals and chemical products.