Is the well-known tech industry changing due to the impact of the epidemic?
The outbreak of the coronavirus has not only affected our daily lives, but has also shaken the global economic situation. And tech companies have not been left out of this list. The cuts have started in all the big tech companies since mid-March. In the first two months, about 40,000 workers lost their jobs in the world's largest and largest tech companies. In the first week of May, Uber laid off a total of 3,800 workers, Airbnb 1,900 and Lift about 1,000.It is not difficult to estimate the number of these companies in the world when the corona storm is known and the situation of these big companies is such.
Why are tech companies facing financial instability?
Not to mention technology-dependent, many tech companies survive by selling software, but due to financial insecurity, buyers are currently reluctant to make any new investments. The resulting software is not being sold. Institutions are collapsing financially.If we talk about other technology based organizations, then there are many organizations like ride sharing or food delivery, whose main work revolved around technology. As an app-dependent organization, they are facing direct losses due to reduced app usage. The whole process is falling apart due to lack of customers.However, the tech companies that have been formed over the last few decades can also be blamed for this whole affair. Especially in the first part of the last decade, the number of tech companies has increased a lot. Many companies have invested in this newly profitable tech industry. In 2017, the companies were moving forward at a very good pace. However, this year the journey has come to a halt.
Although it is possible to succeed with less employees than other companies through financial investment, it has become very difficult for many tech companies to cope with the current financial instability. So many people are trying to solve this financial problem through layoffs, many people are thinking of closing down the organization for the time being or they are thinking of closing down the organization permanently.
Are all tech companies being negatively affected?
No, most of the tech companies are facing losses in the life system that has come to a standstill due to Corona, but not all the companies are suffering losses. Take Amazon for example. The e-commerce company has hired an additional 1,75,000 employees this year to cope with the pressure of additional orders. Companies like Facebook and Apple have handled the situation very well.A few days later, Google is considering hiring new staff. Not all tech companies had to go through bad times during the epidemic. In particular, the use of technology by many companies has increased. And the main reason is that the use of these technologies in epidemics has increased much more than usual.
This is very insightful post. Thnx
Nice post.