In this video we are going to answer how many companies did layoff in 2022?
EPAM Systems laid off 100 employees; revokes new joinees' offer letters
Staff across testing, .Net, DevOps, and Java domains in both firms — EPAM Systems and EPAM Anywhere — have been asked to resign from their position. They were communicated on Microsoft Teams
The staff has been given two options - one with three months' pay with immediate exit, another that they can serve two months' notice, where their resignation can be revoked if they land any project during the notice period.
The company's human resources also told the employees that the firm over-hired, misjudging the demand forecast. The HR managers added that they can't fund any projects for onboarding in the near future.
The layoffs are being done in a staggered manner over the last few weeks, mostly from EPAM Anywhere, and a few from EPAM Systems, two people aware of the development told ET.
Candidates from more than over 20 countries under EPAM Anywhere are offered IT jobs that are remote by design. After joining, the candidate can work from anywhere in the country, which is the employee's permanent residence.
According to EPAM Systems 2021 annual report, it had 4,349 professionals in India, the largest after Ukraine, Belarus, and Russia.
Various media sources also reported that dropping Indian staff could be because of a lack of resources as the company could have rehired some of its impacted Ukrainian employees who are now working out of nearby countries like Poland and Romania.
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2. Microsoft
Laid Off – 1800 Employees
Microsoft, however, added its name to the list of significant businesses laying off staff when the corporation disclosed that it would be doing so as part of a “realignment.” It’s also vital to remember that Microsoft is the first major tech company to fire workers. According to estimates dated July 13, 2022, the Microsoft layoffs will affect 1% of its 1,80,000-person staff across all of its offices and products.
Along with the announcement of Microsoft laying off, the news of the slowdown of Microsoft hiring in the Windows, Teams, and Office groups has also surfaced.
3. Netflix
Laid Off - 300 Employees
One of the reasons for Netflix’s slower income growth is that it has recently lost over 2 lakh customers and is reportedly losing more. In May, Netflix again laid off 300 employees reason for which was cost-cutting.
4. Twitter
Laid off - 100 Employees
According to the story from July 7, 2022, the company, which employs more than 7000 people, would be letting go of about 100 workers.
5. BlueStacks
Laid Off - 60+ employees
The company has experienced tremendous growth thanks to the enormous demand for Android smartphones. 60 Indian employees of this well-known Android emulator platform have been let off, according to news from July 20, 2022. On July 18, 2022, BlueStacks used video conferences to warn the bulk of its staff that their services would no longer be required.
6. Unacademy
Laid Off – 600 Employees
This year, one of India’s largest EdTech companies startled everyone by deciding to fire 600 people or 10% of their staff. In April, it was a last-minute choice. According to the layoff justification, the workers’ performances weren’t up to par.
7. Vedantu
Laid Off – 624 Employees
Yes, another well-known Edtech company, Vedantu, has let many staff leave. They fired 424 full-time and contractual staff in only one month.
8. Cars24
Laid Off – 600 Employees
Over 600 workers from Cars24, or 6% of their workforce, bid goodbye to the company. The fired individuals included workers from various departments and positions. The corporation has just said that the layoff is based on employee performance without offering any other explanation. If staff are not giving their all, they are fired every year.
9. Meesho
Laid Off – 150 Employees
Meesho abruptly and unexpectedly sacked 150 workers from the company’s supermarket division in April
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