The likelihood of the global economy going into recession increases, currently, it is approaching 50%. The recession leads to a decline in domestic production and employment in particular. The main problem is the lower level of labor productivityhence the reactions of companies to the pessimistic forecasts of specialists.

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Many tech companies are reconsidering their staffing needs, some are stopping hiring, withdrawing offers, and even start layoffs.

Amazon said in April it had too many workers after increasing employment during the pandemic and needed to make cuts.

“As the variance subsided in the second half of the quarter and employees returned from vacation, we quickly went from being understaffed to overstaffed, resulting in lower productivity,” said said Amazon Chief Financial Officer Brian Olsavsky.

The company has suspended construction of facilities for office workers, saying it needs time to determine how much space workers will need for hybrid working. As of March, the company employed 1.6 million people, making it the largest employer in the tech world.

Apple plans to slow employment and cut spending in some industries next year. However, the iPhone maker’s premiere schedule still assumes an impressive pace. Apple employed 154,000 people. employed in September.

Microsoft informed employees in May that it was slowing down hiring in Windows, Office and Teams groups. In 2021, the company employed 181,000 people. people. Recently, a software company reduced the number of jobs by less than 1%. as part of the structural reorganization.

netflix has made several rounds of layoffs since announcing the loss of 200,000. subscribers in the first quarter of 2022. In April, the company began to reduce certain marketing initiatives, then it laid off 150 employees in May and 300 in June. Last quarter, Netflix lost another 970,000. the subscribers. In 2021, it employed 11,300 people.

Spotify cut employment by about 25% to adjust to new economic factors, Daniel Ek, CEO of the company, told its employees in June. Spotify employs over 6.5 thousand. people.

You’re here in June, it laid off 200 employees following the closure of its San Mateo, California office. Electric vehicle maker Elon Musk said early layoffs would be needed amid growing economic uncertainty. In an interview with Bloomberg, Musk said about 10%. workers may be laid off over the next three months, although overall employment may increase over the course of a year. At the end of last 2021, Tesla employed 100,000 people. people all over the world.