Big Techs’ India Layoffs: Is The Worst Over Yet?

Big Techs’ India Layoffs: Is The Worst Over Yet?

SUMMARY

After dishing out fancy packages during the pandemic to hire employees, the tech giants have put them on PIPs, made project deadlines stricter and cut down on yearly appraisals

The employees that Inc42 spoke with said that the work culture of tech behemoths has become nerve-racking, with managers constantly hovering over their heads and sounding alarms to deliver or depart

According to experts, US-based tech giants are expected to keep on firing people at least in 2023, even though we are already past the first major layoff wave

At a recently held networking event in Bengaluru, an Inc42 team met several mid-rung executives working at global tech giants such as Google and Amazon. During our conversation with these executives, we realised how concerned they were about losing their jobs, for which they have been upping the ante by sharpening their skills for many years.“The fact of the matter is India is no longer considered as a cost-effective destination for US-based tech firms that today are paying their Indian workforce on par with what they pay to their employees in the US,” said Pareekh Jain, a Bengaluru-based senior tech consultant.According to the data compiled by Inc42, which we collated from various HR tech platforms, layoffs in India account for nearly 10-15%, or 25,000 job losses, of the total pink slips shown (about 2 Lakh) across the world by these tech giants since last year.Meanwhile, the CEO of Greyhound Research, Sanchit Vir Gogia, noted that the first wave of workforce rationalisation is over; however, small rounds of firings by these big techs may be pointed towards those products that have failed to achieve business outcomes.“These changes were rapid and started impacting big tech companies. The gradual shift in the power from the US to other countries, including China, Russia and India, has also hit the businesses of tech firms headquartered there,” Gogia said.“That is a unique opportunity the Indian talent could look for. There is a gap in demand and supply in cyber security and AI verticals. I can confirm that there are 45,000 such jobs available in the market right now. However, the supply side is a challenge,” Sunil said.

As we opened up with these executives to understand their fears, an angel investor joined the conversation, saying: “Welcome to the startup world!”Gogia added that although it is likely that every part of the business function will be impacted, the roles that will be under scanner include sales, pre-sales, marketing and entry-stage developers.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

No results were found for "".
  • «
  • 1
  • »
modal lock

Continue Reading With A Free Inc42 Account

Get the most out of your Inc42 experience by creating a free account. Enjoy personalized recommendations, ad-lite browsing, and access to our exclusive newsletters.