Companies are forced to lay off for many reasons. In these, there is a recession and economic situation, as well as planning for next year's budget. While Meta is planning massive layoffs, Lyft has decided to cut 700 and financial giant Stripe has decided to cut 14 percent of staff.

Tech and other big companies around the world have started layoffs on a large scale. According to a report, in the coming few weeks, jobs may fall on a large scale. Many companies including Meta are going to lay off.

Companies are forced to lay off for many reasons. In these, there is a recession and economic situation, as well as planning for next year's budget. While Meta is planning massive layoffs, Lyft has decided to cut 700 and financial giant Stripe has decided to cut 14 percent of staff. According to business and industry experts, this is just the beginning. In the coming days, worse days may have to be seen in terms of jobs.

Experts say that the income of technology companies is continuously decreasing. Along with this, she is also doing financial planning for the next year. Since there is also the threat of an economic recession, tech companies have already started gearing up to reduce payroll costs by laying off people. This means thousands of technical workers may lose their jobs in the coming weeks.

The looming threat of recession Big tech companies has said over the past few weeks that their earnings have declined. Along with this, he also warned about the future scenario. The looming threat of recession is forcing them to cut costs. Dan Wang, associate professor at Columbia business School, says companies are trying to reduce costs. When they cut costs, their main focus is often on reducing jobs, advertising, and marketing spending. Tech companies are coming out of the impasse caused largely by the pandemic, but what is happening now is a recovery.

Most layoffs are happening in these tech companies

Twitter- The company has fired about 50 percent of its employees. Around 3700 people have been retrenched.

Meta- About 11,000 employees will be laid off from Meta.

Amazon – 10,000 employees will get jobs.

Netflix – 500 employees were fired.

L&T – The company has reduced the workforce by 5 percent.

Tech mahindra - About 1.4 percent headcount was reduced.

Wipro – 6.5% workforce was reduced due to high expenditure on employees.

Snapchat - preparing for 20 percent layoffs due to a 40 percent drop in the stock. 1,000 employees may lose their jobs.

Shopify – The company has announced the layoff of 10 percent of its employees. More than 1,000 employees may lose their jobs.

Microsoft- The company has laid off about 1 percent of its employees since July due to declining earnings.

Intel- The company is preparing to lay off 20 percent of its employees.

C-Gate- The company has prepared to lay off 8 percent of its employees. About 3,000 employees may lose their jobs.

Lift- In the last month itself, the company has laid off 13 percent of its employees. About 700 employees were fired.

Stripe - The company is preparing to reduce the workforce by 14 percent, which will lead to the loss of about 1,120 employees.

Opendoor - The company is preparing to lay off 18 percent of its employees, affecting 550 employees.