Layoffs 2023 January May Will See More Job Cuts Warn US Labor Statistics Experts Heres All Details

2022 did not prove to be good for many employees as many big companies like Amazon, Facebook, Intel, Netflix cut jobs. Some cited losses from the COVID-19 pandemic, others cited overhiring as the reason. However, not just 2022, it appears that 2023 will also see major layoffs. An American institute has claimed that there are more layoffs in January 2023 than ever before.

According to layoff tracking website, tech companies will eliminate more than 153,000 jobs in 2022, compared to 80,000 between March and December of 2020 and 15,000 in 2021. of website data Turns out that retail and consumer technology were the two parts of the industry that saw the most layoffs last year. There were about 40,000 layoffs in this space.

In the US, January is the biggest month for layoffs and discharges, according to data from the Bureau of Labor Statistics. Not only the institute, but many big experts have also pointed this out.

Bloomberg’s accordingRecently, Goldman Sachs CEO David Solomon warned employees that job cuts are on the way in the new year and that the downsizing will happen as early as January. “We are conducting a careful review and discussions are still ongoing, we expect to reduce our workforce in the first half of January,” Solomon said.

J.P. Gounder, advisor and vice president at analyst firm Forrester Research, told The Wall Street General Told“It wouldn’t be surprising to see more layoffs over the next few weeks,” he says, adding that December marks the end of the fiscal year for many companies, making January a month of “organizational restructuring and adjustments.”

Google may also announce thousands of job cuts this month. The company is said to be working with its own performance rating system called Google Review and Development (GRAD). employee evaluation Still working.

hope so also from amazon Is. The company’s CEO Andy Jassy has already announced in November 2022. was warned That the job cuts were a part of the company’s annual operating planning review.

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