Job losses hit silicon valley: Microsoft, Tesla layoff over 2,000 people

The on-going economic meltdown has pushed IT major Microsoft and EV maker Tesla

to cut down its expenses by firing employees.

Satya Nadella-run Microsoft has become the first tech giant to lay off employees as part of a 'realignment'.

The IT major laid off 1,800 of its employees across offices and product divisions.

A few weeks back, Elon Musk owned Tesla fired 229 employees...

...as it decided to permanently shut its California office.

Musk told top managers last month that the company needed to cut staff by about 10 percent.

IMF warns

The head of the IMF Kristalina Georgieva has warned that the world will face an increased risk of recession in the next 12 months.

Slowdown in United States

The IT sector, which had been unaffected by the pandemic, is starting to show early signals of slowdown – indicating a possible recession in the US, Ramani Dathi, CFO of TeamLease Services told CNBC-TV18.

These job losses took place before US announced June inflation numbers, which hit a 40 year high on 13 July.

Twitter, Netflix, Coinbase and Tesla’s rival Rivian are some of the other...

...global companies who have laid off employees in the last 2-3 months.

Indian IT majors like Accenture, Tata Consultancy Services have sharply reduced...

...their new hires for the year, but no job losses have been reported as yet.