2023-01-25 22:00:00

Commentary: Layoff survivors guilt those who survive the cuts are also hurt

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Channel NewsAsia
By Elizabeth Nair

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SINGAPORE: Microsoft cutting 10,000 jobs. Google-parent Alphabet slashing 12,000 of its employees. Amazon.com shedding 18,000 jobs. Salesforce axing 10 per cent of its work force.

January has been a brutal month for tech workers - with job cuts coming rapidly and in big numbers.

In the past month alone, there have been nearly 60,000 tech layoffs, according to Layoffs.fyi, a website that tracks job cuts in the industry.

Spotify on Monday (Jan 23) joined in the carnage, announcing it will shed 6 per cent of its work force.

There are bound to be more layoffs as the tech sector backtracks on its rampant hiring during the pandemic, in anticipation of a looming recession. A top tech analyst has warned that another 15 per cent to 20 per cent of big tech employees could be without jobs over the next six months.

Ultimately, it keeps coming back to, simply, these companies added too many people too fast, Gene Munster, managing partner at Deepwater Asset Management told CNBC on Jan 23.

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