Layoffs in IT sector

As a budding engineering student I was deeply shocked when I read articles about the happening news in IT sector. Yes layoff has become the buzzword with tech giants like Amazon ,Twitter, Meta (the parent company of Facebook , Instagram and WhatsApp), and google the latest one that may layoff employees across the globe.

Before getting to know the consequence and causes of layoffs it would be more clear if I’d explained what actually is called a layoff.

Being laid off refers to a temporary or permanent termination of work contract by an employee because of reasons relating to the business. To give more detailing about why layoff actually occurs is because of three major reasons according to experts.

#OVERSTAFFING

Layoffs also occur when a company needs to eliminate some positions due to over-staffing

#REDUCING COSTS

One of the main reasons why workers get laid off is because the company decides to cut back on costs in some ways

#BUSSINESS NEEDS

If a company is going out of business, it'll likely start performing layoffs, only keeping those on staff who they require to work to maintain the level of operations the business needs

The year 2022 started with so much hope as covid pandemic has finally come to an end and IT Sectors boosted their growth rapidly in the month of january but in the wink of an eye it has turned out rough for the tech industry with as many as 11,833 startup employees in India losing their jobs in 2022 across industries, according to the data compiled.

Highly educated and qualified employees are now unemployed and their lifes are in a questionable state. The common people working under IT sector are in a rat’s race in order to fulfil the needs and qualifications of the society. Unemployed engineers are now in a state where they aren’t even able to pay their education loans or the emis that the society forced on them !

As an engineering student the learning from the layoffs of 2022 according to me are

1) No matter in which company we are working in either a well known company or a company with less than 10 employees we should always be interview ready every time.

2) Always go for stable companies instead of hyped companies

3)Be passionate about the job and not the craze for company name.

Some positivity

Tata Group owned Jaguar Land Rover has announced that it will hire 800 skilled workforce from among employees who were laid off by tech giants.

How great is it to hear such positive news ..! In this world we always have a ray of hope which we can always hold on to in order to create a happy space for ourselves in this universe is what I believe.

SAY NO TO HYPED COMPAINES

SAY YES TO GOOD COMPAINES