- Published on January 20, 2024
- In AI Features
The Real Reason behind Big Tech’s Recent Mass Layoffs
A result-driven, volatile hiring process has consistently resulted in mass firings
Image by Diksha Mishra
- By Vandana Nair
Recently, several big tech companies, including Google, Amazon and others, have been laying off a significant number of employees. While some, like Paytm and Dropbox, cite AI advancements as a reason for layoffs, this isn't universally the case, and sometimes it is because of quarterly-driven results for cost-cutting and restructuring.
Citing Salesforce’s layoff strategy, Zoho chief Sridhar Vembu said that such companies are constantly engaged in hiring and firing sprees driven by short-term, quarterly financial goals. He noted that this approach is common in publicly traded companies, which focus on immediate cost-cutting and restructuring, often leading to a volatile employment environment.
Quarterly-Driven Layoffs
At the start of 2023, Salesforce announced a 10% layoff
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Vandana Nair
As a rare blend of engineering, MBA, and journalism degree, Vandana Nair brings a unique combination of technical know-how, business acumen, and storytelling skills to the table. Her insatiable curiosity for all things startups, businesses, and AI technologies ensures that there's always a fresh and insightful perspective to her reporting. She now hosts her tech segment 'Point Break' on AIM Tv.
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