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Tag: Layoff 2023

Wave of retrenchment continues, now Spotify and InMobi are also laying off employees

The wave of layoffs is currently underway in full force. And every day, some story about this makes headlines. And one such alarming report that huge firms have undertaken widespread layoffs came to light yesterday. Spotify and InMobi are their names.

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Spotify laid off 600 employees

Major Spotify Technology-related news has just been released. Global layoffs are planned by the Spotify Technology Company. In this, it is said that 6% of the workforce will be let go.

According to media sources, the Spotify corporation announced on Monday that it will be laying off 600 people, or 6% of its workforce worldwide. CEO of the Swedish firm Daniel Ek made this announcement.

InMobi lays off 50-70 employees

The first unicorn in India has announced the layoffs of thousands of workers. There have been between 50 and 70 layoffs at InMobi. This layoff has affected both InMobi and its other company, Glance. Till now this news has not been confirmed by the InMobi officials.

Good news amid wave of layoffs! Hiring is expected to increase by 40-45% in these sectors

News of layoffs is currently spreading from all directions. India is one of several countries where IT startups and enterprises have lately let go of thousands of people. Google’s parent company Alphabet Inc. is also experiencing the wind of retrenchment and is about to lay off 12,000 employees.

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However, there appears to be some alleviation in the country’s telecoms and related industries for the time being. A survey claims that employment in the telecommunications industry and allied industries has increased by 30–36% during the past three to six months. At the same time, recruiting in these industries is anticipated to rise by 40–45% during the next two years.

He stated that by the end of FY 2022, there were around 40 lakh people working in telecommunications and related industries. By the end of FY 2026, this number is expected to rise to 60 lakh.

24,151 employees were laid off this year

According to Layoff Tracker, a website that analyses layoffs, as of January 15 this year, 24,151 people had been let go by organizations including Amazon, Coinbase, and Salesforce. Companies including Meta, Twitter, Oracle, Snapchat, Uber, and Intel also let go of roughly 1,53,110 workers last year, or in 2022.

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