Layoffs in 2023: After Microsoft and Google, now this company has announced layoffs, 2500 employees will be laid off
Layoffs in 2023: Another company’s name has been added to the global layoffs. The giant company 3M has now announced 2500 employees (retrenchment of employees). This decision has been taken in view of the company’s low profit and weak demand in the coming days. 3M is a large company in the manufacturing sector (Manufacture Company Laoffs), which manufactures products ranging from electrical to health sector.
During the Kovid-19 pandemic, this giant company also made masks for the people. Last year, the supply of many of the company’s products was reduced. Also, its business has been affected by the war between Russia and Ukraine. 3M’s net profit for the fourth quarter of fiscal 2023 was $541 million, up from $1.4 billion a year earlier but down from the quarter a year ago. The company’s revenue fell 6.2% to $8.1 billion.
2023 the crisis will worsen
Giving information about the layoffs, the company’s CEO Mike Romm said that there could be a macroeconomic problem in 2023. Due to this, about 2,500 employees are being laid off globally to stay in the market. Mike Rome said the decision was necessary to manage the company’s losses and profits.
the company will continue its business
The company has not yet disclosed other details of the layoffs. The company expects very low US growth of about one percent this year, while global growth is expected to be less than 1.5 percent. The company said it would continue to manufacture the products. Let us tell you that a large number of employees are getting laid off this year. So far this year, companies like Microsoft and Google have been laying off people in large numbers.
Dismissal of 2 lakh employees from IT sector in America
Due to the global economic crisis, big tech companies are showing the way out to their employees. These companies have started layoffs from November 2022 last year. People working in these IT sector companies for a long time are also being asked to leave their jobs for one reason or the other. Thousands of employees have been fired in 3-4 months and this process is not taking the name of stopping.
According to a media report, only 2 lakh employees have been retrenched in the IT sector of America in 3-4 months. Now the first challenge before these unemployed laborers is to find a new job. Otherwise they will have to go to their country from America. These people are facing many problems. Learn about this matter…
2 lakh employees were laid off
According to media reports, since November 2022 last year, around 2,00,000 employees have been laid off in the IT sector. Companies cutting a record number include Google (Google), Microsoft (Microsoft), Facebook (Facebook) and Amazon (Amazon), Twitter (Twitter).