From Zomato & Infosys To IBM, Major Companies Layoff Workforce Amid Global Uncertainties
In this moment of uncertainty, coupled with extensive volatility, many corporations appear to be trying to shore-up space and trim down before the wave of tariffs affects them.
FPJ
The world economy is in the middle of a chaotic storm as the Donald Trump-led US administration is gearing up for an all-out tariff war with its allies and rivals alike.
Layoffs Amid Global Turbulence
This deadline for the new set of tariffs ends of April 2. This includes a whole host of tariffs that could have a chilling effect on international trade and the global economy at large.
In this moment of uncertainty, coupled with extensive volatility, many corporations appear to be trying to shore-up space and trim down before the wave of tariffs affects them.
While the layoff season has persisted since the end of the pandemic, during which companies went on a hiring spree, the recent list of firings are probably a harbinger of what is to come.
IBM
In the recent past, it was reported that IBM, the American tech giant is reportedly planning to lay off thousands of employees in its Cloud Classic segment. In addition, it is being learned that the company may be looking to focus its hiring in India to cut down on its costs.
Infosys
Infosys, one of the biggest names in the Indian tech business, is also learned to have given the pink slip to around 45 trainees from its Mysuru campus. This comes barely 2 months after reports of layoff of 300-400 trainees in February from the same campus, after their failed their internal assessment test.
Boeing
Another major tranche of layoffs came from one of the biggest names in the aerospace industry, Boeing. The embattled aircraft maker known for its infamous 737 Max has been looking to trim its fat, and makes its business efficient. In March, the company fired 180 of its employees from its India operations.
BSNL
From an American giant, we have an Indian PSU, BSNL. The telecom company, that is looking to modernise and compete in the oligopolistic market is sharpening its weapon with the launch of 5G along with expansion of 4G.
In the meantime, it is also being understood that the company is looking to slash its workforce by a staggering 35 per cent, trying to offload as many as 18,000 staffers through VRS.
Zomato's Firing
Zomato, one of the biggest names in the new consumer business world, recently laid off around 300+ employees from its customer service training initiative. According to an anonymous post, these employees were fired without any warning or any opportunity to improve.
HSBC
Recently, the banking giant HSBC was hit was a wave of backlash when the financial sector's behemoth laid off some of its employees (count not mentioned) on the day they were expecting their annual bonuses. These employees were forced to leave without any bonuses.
Tech Companies
Hewlett Packard Enterprise or HP, the American computer maker, also was in the news for firing thousands. The company asked as many as 2,500 of its employees to cut ties with the company in the first week of March.
Along with the likes of Meta, Google, Alphabet and Amazon, even TikTok has been involved in trimming its workforce recently. The company has largely targeted its safety and trust units.