Thursday, March 23, 2023

New workforce cuts in tech sector: PayPal to lay off nearly 2,000 people due to “complex macroeconomic environment”

technology companies They are not passing through their best moments. After years of exponential growth, the sector is now facing massive wave of layoffs Which is completely destroying the sector.

The most notorious cases have since been Amazon, Google, Meta (the Facebook, Instagram and WhatsApp parent company) or Microsoft. Between them, more than 50,000 people have been laid off.But the list of technology companies announcing cuts continues to grow.

now it’s done paypal expressed intent to suppress 2,000 jobs, thus cutting nearly 7% of its global workforce. The online payment firm referred to “complex macroeconomic environmentAs to the reason which has led him to take this decision.

“We must continue to transform as our world, our customers and our competitive landscape evolve,” said the PayPal CEO. Dan Schulmanthrough a statement he had access to BBC,

This means of communication cites another technology company, crackle (Snapchat’s parent company), which already laid off 1,200 people last August and which said Tuesday it expects earnings to decline by up to 10% between now and March.

“We anticipate Operating environment to remain challengingAs such we expect the headwinds we have faced over the last one year to continue through the first quarter,” the company told investors.

A new study uncovers the real reasons for layoffs at Google, Microsoft, Facebook and Amazon

Andy Jassy Is The New Ceo Of Amazon.

One of the last companies to announce layoffs was hardware maker IBM, which stepped up workforce cuts that will affect about 4,000 people As a result of failing to meet their annual targets.

loss Bad The results may be one of the reasons behind this wave of layoffs. At least, that’s one of the reasons companies are confirming that cuts are on the way. Techies also refer to the slowdown that seems imminent or the sheer pace of hiring during the pandemic.

However, a study cited by forbes points out that these reorganizations may actually be due to the reconstruction they are going through human resource departmentOn the one hand, due to the hiring strike expected in 2023, and on the other, due to the automation of processes and the use of artificial intelligence.

Nation World News Desk
Nation World News Desk
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