Several tech and e-commerce companies around the world are executing mass lay offs amid what is seen as fears of global recession and slowdown. Reports suggest that major tech and e-commerce companies have laid off 55% of their workforce, booting out around lakh of roles.
With the layoff wave continuing, the companies are running out employees to lay off but foreseeing the global recession the companies are bound to lay off, and to ensure the same tech and e-commerce giants have announced massive hiring only to layoff more employees to cut down their expenses.
Amazon aims at 133% layoff while Microsoft Corporation aims at 156% layoff in this fiscal year. Speaking to The Fauxy, an e-commerce company head said “Look, the Easiest way to cut down the company’s expense is employee layoff, and now when we are close to layoff 100% employees we need to hire more to layoff them, we aim to hire 30,000 employee and layoff nearly same number”
A jobless person told The Fauxy that he will apply for that job since he’ll have three months of notice period between hiring and firing and three months salary he will use for his startup of tea stall outside the same company.