Microsoft and Alphabet Extend the White-Collar Recession
Thousands of individuals have lost their employment in the computer sector in recent months as a result of job layoffs. The layoffs were communicated via private emails, the Slack messaging service, and even Twitter. Engineers working on artificial intelligence are no longer guaranteed a job, while marketing and human resources professionals have also been laid go. According to a forecast by outplacement company Challenger, Gray & Christmas, the IT sector will shed 97,171 jobs by 2022. This was more than seven times the number of employment lost in the IT industry in 2021, when 12,975 were eliminated.
The IT industry has been the most impacted of all, accounting for more than a quarter (27%) of all employment cutbacks in the United States (363,824 jobs) last year. The trend is expected to continue in 2023, with Microsoft and Alphabet announcing 10,000 and 12,000 job layoffs in only 48 hours, respectively. According to data company Layoffs.fyi, 38,815 IT jobs were lost in the first 20 days of the year. 133 companies have announced worker cutbacks. Apple is the only big technology business that has not announced layoffs.