Several big companies are laying off employees from different divisions because of the global recession. Here's a list of firms that are going to join the layoff spree.
The global recession has impacted several sectors around the world. Many prominent businesses like Twitter, Google, Meta, Microsoft and more have laid off thousands and thousands of employees all over the world. Laying off employees hasn’t stopped yet. Many companies are still planning to let go of their employees as a cost-cutting measure.
Deloitte layoff:
Recently, Global financial consulting firm Deloitte announced that it will lay off 1,200 employees. The Financial Times reported that the job losses at Deloitte will result in a 3% reduction in the division's overall staff for risk and Financial Advisory division in the US, which has been most affected due to acquisitions and mergers.
Ernst & Young layoff:
Ernst and Young have recently decided to lay off 3,000 of its employees. This is 5 per cent of the total force of the company. EY is one of the “Big Four” accounting firms that has decided to lay off staff. The choice was made after the corporation abandoned plans to split up its audit and consultancy divisions in response to US executive committee opposition. According to reports, the layoffs are necessary due to the economy, high rates of staff retention, and overcapacity in several areas of the business.
Lyft layoff:
Later on Friday, the ride-hailing company Lyft, popular in North America said that it would drastically scale back its workforce "as part of a restructuring to focus on better meeting the needs of riders and drivers". Lyft has not commented on the precise amount of layoffs, but according to the Wall Street Journal, at least 1,200 workers, or 30% of its 4,000-person staff, will be let go.
People who are affected will get at least 10 weeks of compensation, plus additional weeks for team members who have worked for Lyft for more than 4 years.
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