In March 2023, Accenture, Amazon, and Meta fired 38000 employees, many of them Indian

Accenture, Amazon, and Meta fired 38000 employees

Given that numerous tech companies continue to lay off thousands of staff, it appears that the hiring season won’t be ending anytime soon. Amazon announced the layoff of up to 18,000 workers earlier this year, while major tech firms like Google also decreased headcounts by 12,000 workers. Meta, Amazon, and Accenture have all eliminated 38,000 employees in March alone. Numerous Indian employees who had been employed by these organisations had also been let go, and they vented their resentment on LinkedIn. The laid-off workers have expressed their dissatisfaction with how major big firms have handled layoffs, complaining that there has been no transparency or prompt distribution of severance compensation, and that some have been locked out of their systems without warning. According to reports, layoffs will affect hundreds of Indians in March 2023. This is all the information you require regarding the layoffs this month.

Details about in March 2023, Accenture, Amazon, and Meta fired 38000 employees, many of them Indian

Accenture announced the termination of 19,000 employees.

Accenture disclosed in an SEC filing that it will lay off 19,000 employees to cut costs. The corporation forecasted that in the upcoming quarters, profits and revenue would expand at a slower rate. As a result, steps are being taken to use the revenue to grow the company and make investments that would help the IT firm. Additionally, Accenture affirmed that it intends to increase staffing in the second half of 2023.

“Although we continue to employ, particularly to support our strategic growth targets, we commenced efforts to streamline our operations and change our non-billable corporate services to decrease expenses during the second quarter of fiscal 2023,” it stated.

In March 2023, Meta laid off 10,000 additional employees.

Meta has previously laid off 11,000 employees and just lately announced the termination of 10,000 more. Technically speaking, this indicates that the tech business has let go of up to 21,000 workers. Mark Zuckerberg, the CEO of Meta, listed a few reasons why the company had to make the decision to lay people off. Increasing competition, slower revenue growth, the recession, and excessive recruiting were a few of the causes. All of these factors result in the dismissal of thousands of workers.

However, Meta also pledged to provide severance pay to the affected employees, something Accenture does not appear to be doing based on its silence on the matter. The CEO has also expressed regret at the loss of brilliant workers brought on by the challenging times the business is going through.

In March, Amazon cut 9,000 more jobs.

Last but not least, Amazon recently let go of 9,000 additional workers after letting go of 18,000 earlier this year. A number of departments, including advertising, human resources, Twitch units, and cloud computing, have made layoffs. Layoffs have also been attributed by Amazon to overhiring and ominous economic conditions. The business has stated that the most recent round of layoffs will be finished by mid- to late-April. If we count both layoffs, the e-commerce behemoth has sacked 27,000 workers thus far.

The CEO of Amazon, Andy Jassy, said when the layoff was announced, “This was a painful choice, but we think it is best for the firm long term. Leaders from across the firm collaborate with their teams to identify what investments they want to make for the future as part of our yearly planning process, giving priority to what matters most to customers and the long-term sustainability of our companies. Prior to this one, most of our businesses significantly increased personnel over a number of years. Given the state of our businesses and the economy as a whole, this made logical. We have opted to be more lean in our costs and personnel, nevertheless, given the uncertain economy in which we currently live and the uncertainty that will prevail in the near future.

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