As the month of March comes to a close, once again a wave of layoffs has begun in major global tech companies. It is being speculated that around 8,000 employees could face termination from these major companies.
Layoffs in Major Companies
In March, news of layoffs in the global technology sector has shaken the public. This month, four major global tech companies including Apple, IBM, Dell Technologies, Ericsson, and Korean Telecom have announced layoffs for a significant number of employees. Such layoffs were also witnessed during the time of the coronavirus pandemic. However, many large companies are still struggling to recover from the economic downturn caused by the pandemic, leading to layoffs becoming a common occurrence in these big companies.
Reasons Behind the Layoffs
It is believed that the closure of research and development (R&D) projects at Apple has led to significant job cuts in both America and Asia. Dell Technologies, an American computer company, is facing layoffs for the second time in two years. Artificial intelligence (AI) is also considered a major reason behind these layoffs. Additionally, the layoffs reflect the changing dynamics in the technology world, economic downturns, technological advancements, and the changing landscape due to the COVID-19 pandemic. This situation poses challenges against the expectations of tech companies and highlights the need for innovative approaches.
During such crises, it’s crucial for the youth to focus not only on job security but also on career development and enhancement. Moreover, it’s essential for tech companies to collaborate as partners in developing and providing job opportunities amidst this crisis.