Meta and Amazon Recession

Meta and Amazon declared the dismissal of thousands of employees in the US due to fear of a Recession

Previous year – 2022, is declared the biggest tech layoffs. Many companies including Amazon, Meta, Twitter, Citi group, Intel, Johnson & Johnson have reduced  their workforce due to the Recession. During the pandemic, economic downfalls forced  many companies to take such  decisions . This year over a lakh  employees got dismissal from such big hi-tech companies. Most of the employees who lost their jobs in the US were on H1-B visas, which required employees to search for a job within 60 days or leave the country. This situation was very  loathsome for them. To overcome the poor economic growth, many companies decided to lay off.  Meta  announced to fire 13% of its staff  which was more than 11000 employees.  Companies  such as Doordash Inc and, the food delivery firm  cut their 1250 employees. AMC Inc, a cable network company also reduced  20% of its US workforce. The e-commerce company Amazon, including its human resources and retail division, has cut  10000 of its employees. Not only this Microsoft Corp has trimmed  its 1000 employees. The  Walt Disney Co. has also frozen  its hiring and has cut some jobs. The video streaming device maker company, Roku Inc, has reduced  its 200 employees due to the current economic condition. HP is also  going to reduce their 6000 job positions  by the end of the year 2025. The Buzzfeed media company has also  reduced 12% of its workforce. Many other companies have also reduced their staff due to the existing economic disasters.

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