Home / Companies / News /  ‘How should I deal with this situation?’ Wipro leaves 452 freshers clueless

Companies around the world have resorted to layoffs to reduce their workforce and restructure their businesses as the global economy slows down. Tech companies including Wipro, Microsoft, Google, Spotify are laying off a large number of employees. 

One of the country's leading tech company, Wipro has also joined the list and sacked 452 freshers citing their poor performance, even after training, said the spokesperson as quoted by a report in financial daily.  

CNBC had a conversation with some freshers who joined Wipro, but were sacked due to under performance, despite getting training. 

“I come from a farming family and took an education loan of 4 lakh for B.Tech. How should I deal with this situation? I will not be able to get any other job at this time. For now, I have only one option, that is, daily wage work," Ayush told CNBC (name changed on the condition of anonymity). 

There have been around 50,000 job cuts across the technology sector in the past month. Large and small tech companies went on a hiring spree in over the past several years due to a demand for their products, software and services surged with millions of people working remotely.

However, even with all of the layoffs announced in recent weeks, most tech companies are still vastly larger than they were three years ago.

Take a look at some companies that have announced layoffs

1) Google: The search engine giant becomes the most recent in the industry to say it must adjust, saying 12,000 workers, or about 6% of its workforce, would be let go.

2) Spotify: The music streaming platform on Monday announced that it is planning to cut jobs by about 6% across the company to lower costs. Currently, the company has about 9,800 employees and a 6% job cut would mean laying off about 600 people working for them.

3) Swiggy: The food and grocery delivery platform Swiggy has fired 380 employees of its 6,000-strong workforce as part of a "restructuring exercise". 

4) Microsoft: The software company said it will cut about 10,000 jobs, almost 5 per cent of its workforce.

5) Amazon: The e-commerce company said it must cut about 18,000 positions. That's just a fraction of its 1.5 million-strong global workforce.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less

Recommended For You

Trending Stocks

Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout