Layoff Update: The sword of retrenchment has run deep on the employees this year. The biggest blow has been in the tech industry. Till May 21, 2023, about 2 lakh employees have been retrenched in 695 companies. About 1 lakh tech employees were retrenched in January this year itself and its shock was also seen in giant companies like Amazon, Microsoft, Google, Salesforce.
Layoff Update: The fire of layoffs has not died down yet. Now it has also hit the American marketing tech company ZoomInfo . Zoominfo is reducing about 3 percent of its global workforce. The company has given this information to the US market regulator Securities and Exchange Commission (SEC) in an exchange filing. The company has informed the employees about the retrenchment. The company has communicated to its employees its intention to streamline organizational structure, speed up decision making and focus resources on growth opportunities while maintaining profits.
How many employees will be shocked
According to a media report, based on the data available till 31 December 2022, Zoominfo has 3540 employees. The company disclosed this in its annual report. Now according to the decision of the company, out of this, 3 percent of the employees i.e. about 106 will be taken out of the company. Employees who will be retrenched will be supported through an average of 10 weeks of severance pay, shares as well as healthcare and education funds.
Hiring will also continue
The company has decided to take 3 percent of its employees out of the company. Although the hiring will continue. Hiring will continue to expand across sales, engineering and customer success roles as well as strengthen its generative AI capability. To implement this plan, the company has estimated an expenditure of around $6 million on restructuring.
2 lakh employees have been laid off in the tech industry this year
The sword of retrenchment has run deep on the employees this year. The biggest blow has been in the tech industry. Till May 21, 2023, about 2 lakh employees have been retrenched in 695 companies. About 1 lakh tech employees were retrenched in January this year itself and its shock was also seen in giant companies like Amazon, Microsoft, Google, Salesforce.
