THE TREND OF LAYOFFS...
The trend of Layoffs…
The job market is experiencing a shift with a wave of major layoffs across big tech companies pushing top talent to explore open roles at mid-sized companies. So, apparently, It’s the season of layoffs. The world is stunned to see big techs such as Meta and Twitter sacking employees, but the Indian startup world too has had its share of bad news. Add to this, the absolute low level of empathy shown by the companies while handling such situations.
There are various reasonable reasons for which the companies are taking such major steps, the reasons vary from economic conditions to the pandemic to the restructuring of the company, and even the inefficiency of the employees. The reasons are also linked to cost-cutting or financial difficulties.?
Some of the companies even faced criticism for their sudden decision. Many people lost their jobs during the pandemic and now these strings of similar layoffs are creating a ruckus in the world. The economic situation of the world is also a big reason for these layoffs.
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According to Layoffs.FYI, a website that tracks tech layoffs, 217,404 employees across more than 1,300 tech companies have been fired since the Covid-19 pandemic.?The companies that were once thriving are now facing a significant downturn and one of the main reasons that are seen across most of them is the reduction in demand.?
Amidst all the layoff there’s this Indian CEO who has urged Indian workers, who lost their jobs in the US and Canada to come back to India and work for his company at such a difficult time. Harsh Jain, the founder, and CEO of Dream11 has pledged to accommodate Indians, particularly those who have visa?concerns.
Getting a handle on where you stand financially after a layoff is critical to keeping your stress and anxiety in check.
The truth is the blow of being fired or asked to resign hurts. You might feel as if you’re insufficient, unworthy, incapable, or unsuccessful. In the particular situation where you were let go, perhaps you weren’t the right fit, or maybe you made a mistake. No matter the reason, you don’t have to let that experience define who you are. Acknowledge your disappointment, and let yourself grow from there. You might not have anticipated the abrupt transition, so look at it as an opportunity to pivot and reposition yourself for success.
Founder at Sygnific Careers
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