According to layoff.fyi, a website that tracks tech sector job cuts; 1,178 tech companies have laid off 260,771 lakh employees in 2023 globally, with more than 36,000 being sacked in India.
Paytm has laid off over 1,000 employees, giving the reason for reducing costs and realigning its business. Social media platform ShareChat, owned by Bangalore-based Mohalla Tech, asked 15% of its workforce to go as part of strategic restructuring. Adda247, a Google-backed edtech platform, has laid off 250-300 employees across verticals while Byjus has sacked 4,000-5,000 employees, in a "business restructuring exercise." The homegrown quick-grocery delivery startup, Dunzo has already sacked nearly 400 employees so far this year, in two job-cut rounds.
Google fired 12,000 people this year, the number being the highest in the company's history, as 'AI performs better than they expected.' And now, reports say that as AI has started automating ad sales, another 30,000 may lose their jobs at Google.