Big tech companies benefitted from boom in e-commerce sector that kicked off during Covid lockdowns in 2020 but now they are reporting declining growth rates as customer behavior returns to normal
The tech layoffs this year have exceeded the job cuts the sector faced globally during the financial crisis of 2008-2009 triggered by the Lehman Brothers' collapse
The Indian IT and BPM sector employs around 4.4 million people, directly and indirectly. Every year, around 2-3 per cent of the employee base get impacted owing to performance related issues