Why the entire TECH world is laying off employees at the same time? | Everything you need to know
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#microsoft has recently announced layoffs right after #amazon and #Salesforce. Microsoft layoffs 2023 is bad news for everybody. When employees within these multinational companies can’t feel secure, then we can’t know how employees in other companies might be feeling right now. Amazon layoffs 2023 have shocked us before but Microsoft layoffs have hit us as well now. In this video, I’ve covered 3 things. First, is why these layoffs are happening at a fundamental level, second which divisions are impacted more by these layoffs and which are impacted less, and finally what are the available options in front of us?
When Microsoft announced its quarterly results, its revenues were up by 11% and Azure and Cloud division revenues were up by 35% but the revenues of Windows OS were less by 15%, and by the next quarter, the revenues for Windows OS are projected to reduce by 30%. This is because the demand for personal computers is down. Demand for PCs is down because many people have already purchased PCs during the covid time. Microsoft job cuts 2023 are a result of this.
Silicon, Germanium, and Gallium are necessary for manufacturing semiconductor chips. Germanium comes from Russia and Gallium comes from Ukraine. The war between these two countries has disrupted the supply chain for these two essential raw materials for manufacturing semiconductor chips. The Ukraine-Russia conflict has resulted in severe inflation across the world.
R&D and Engineering teams in Microsoft and Recruiting Team and Alexa Team in Amazon are impacted the most because of these layoffs. These teams are traditionally considered the cost centers. Non Performing business units and cost centers are impacted the most. On the other hand, the sales and client servicing teams are not impacted much by the current layoff trend.
You need to know what you should do in these situations. Two options available in front of you are preparing for that next interview or reducing dependency on your current income. There are two ways to reduce your dependence on income. You can create a zero-risk income stream. It could be through the rental or fixed deposit. It must be as low risk as possible. Number two is having a side hustle. The importance of a side hustle cannot be overstated because it can give you that revenue in the long run.
How to start a side hustle? I’d say first sit down and understand what are those stills that can help others gain value from you. It could be editing, digital marketing, or it could be anything else. The nature of the skill doesn’t matter until you are good at it. Please fill out the form I’ve provided and I’ll refer you to the people in my network who would be interested in your skillset. I have made several videos about networking, upskilling, resume making, and such on this channel which you can definitely benefit from.
How to prepare for job interviews? Or what to do after getting fired? Improve your relationships right now when you have time and spend time building your resume. Focus on structured communication as much as you can. In dire times if you think about what to do after getting laid off, then it’d be difficult for you to get a good job. Hope you found this video helpful and you can definitely benefit from the information I have shared on this channel in other videos as well.
About Me
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Chapters
0:00 - Intro
0:30 - Video Pointers
0:45 - Microsoft Layoffs case study
3:17 - Most impacted divisions
3:55 - Least impacted divisions
4:21 - Available Options
4:39 - How to reduce dependence?
4:55- How to start a Side Hustle?
6:29 - Preparing for Job Interviews
6:57 - Summary
8:07 - Outro