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<ul><li>The tech industry has seen more than 200,000 <keyword id="6357067" type="General" weightage="100" keywordseo="layoffs" source="Orion">layoffs</keyword> since the start of 2022.</li><li>Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add a major value to the organization.</li><li>Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management.</li></ul>Bipin Singh, a business development manager at Byju’s with over 11 years experience in the EdTech industry was laid off last month after a stint of 1.5 years at the company. In his LinkedIn post he mentioned about the layoff and urged everyone to reach out to him with job offers or if not, like share and comment on his post to increase reach. Anil <keyword id="906861" type="General" weightage="50" keywordseo="sahani" source="Orion">Sahani</keyword>, a software engineer, lost his job in Accenture recently .“I was one of the first ones to let go as I was a contract employee and also did not have any notice period. The layoffs are still on.” Singh and Sahani are among the thousands of employees who have been affected by tech layoffs in India. Google trend data, which reflects what people search for, shows that between January 22-28 this year, the term ‘layoff’ was at its peak popularity of 100, while between January 23 to January 29 last year, it was just at five. This is not surprising because layoffs are being reported majorly in the media and almost every other post on Linkedin is talking about layoffs. It all started with the news that the big tech giants like Amazon and Google parent Alphabet were laying off in large numbers. While Alphabet laid off 12,000 people, the Amazon layoffs affected more than 18,000 people. Microsoft said it will lay off 10,000 people by the end of the third quarter of 2023 and even SAP and IBM have started laying off employees. It seems it is almost like a contagion that is spreading rapidly like wildfire. The Indian situation: Which brings us to the question: Is the situation as bad in India? Layoffs are now a reality in India too. Reports suggest that around 21,000 techies have lost their jobs in the last three to four months. In the third week of January, Wipro fired more than 400 freshers for failing performance tests. While Amazon has laid off 1,000 of its employees in India, IBM and SAP are also laying off employees, affecting their employees in India as well. Very recently, Byju’s laid off 1,000 people, in a second round of layoffs in February. Sivaprasad N, vice president &amp; business head, TeamLease Digital, a staffing solutions company, puts the number of layoffs in the tech industry at more than 2,00,000 since 2022. Over 21,000 employees <a href="https://www.businessinsider.in/business/news/70-plus-indian-startups-show-exit-door-to-21k-techies-more-pink-slips-coming/articleshow/97411761.cms?">have been laid off </a>by 70 startups in the past 3-4 months including from unicorns like BYJU'S, <keyword id="6354720" type="General" weightage="50" keywordseo="ola" source="Orion">Ola</keyword>, MPL, Innovaccer, Unacademy, Vedantu, Cars24, OYO, Meesho, Udaan and many more. Anuj Gupta, who has over 10 years of experience in SEO, has lost his job in edtech company upGrad and is a part of the current tech and marketing layoff wave. The layoff situation in India is currently more of a spill-over effect of shake-ups in the West. Unlike the funding winter that hit the Indian funded tech startups cohort in 2022, the current layoffs by big labels are largely corrective talent adjustments. “Despite potential opportunities coming our way due to global shakeups, it is prudent for India Inc. to treat the current layoffs as a tip of the iceberg,” says <keyword id="138078" type="General" weightage="50" keywordseo="kamal-karanth" source="Orion">Kamal Karanth</keyword>, CoFounder, Xpheno, a specialist staffing company. He adds that enterprises, especially in tech, will benefit from remaining alert and conservative on costs for at least two quarters. Agrees Sivaprasad, “Companies are battling a slowdown in demand after a hiring frenzy. No company is certain to avoid significant cutbacks in such an economic environment. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. It looks like the trend will continue for some time.” Many IT majors have announced mass layoffs in the last couple of months, quoting factors like overhiring, an impending recession and geopolitical conflicts. “We expect businesses to exhibit caution in hiring and workforce management through a major part of 2023,” <keyword id="13896318" type="General" weightage="50" keywordseo="sachin-alug" source="Orion">Sachin Alug</keyword>, CEO, NLB Services - a global technology &amp; digital talent solutions company. Delhi-based Pankaj Kumar, laid off from a software company this month, says that one day he got a message saying that the company was restructuring and that it was his last day. “However, we were forced to resign and also we received very little in the name of assistance as promised.” Kumar feels that most startups today have no clue about manpower requirements and just hire to show their investors that they are doing well without having an idea of how they can sustain themselves in crucial times. Tech jobs have been the most affected: As discussed, tech companies, especially IT firms, are very vulnerable to an impending recession in the US. “The tech sector has always been highly sensitive to economic cycles, and the current economic downturn could have a significant impact on these companies. A recession could lead to decreased consumer spending, reduced corporate investment, and layoffs, which could all hit tech companies hard,” says <keyword id="328697" type="General" weightage="50" keywordseo="sandeep-budhiraja" source="Orion">Sandeep Budhiraja</keyword>, Co-founder, Executive Director and Chief People Officer - BYLD Group which provides HR and Business productivity solutions, Additionally, the US market is a major source of revenue for many tech companies, so a recession here could have a widespread impact on global operations. Finally, any disruption to the global supply chain could further disrupt tech companies, as many rely on components and materials sourced from around the world. “The sectors that may be most affected, other than the technology, are telecommunications, financial services and retail. The telecommunications sector could be hit by reduced investment in infrastructure and lower customer demand. The financial services sector could be adversely affected by a decrease in credit availability and tightened lending standards, while the retail sector could suffer from decreased consumer spending,” adds Budhiraja. Everyone is vulnerable: “Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add major value to the organization. Usually, mass layoffs affect employees invariably regardless of their performance but in organizations that choose to let go of a selected few, performers at a certain level tend to be the target,” says Alug. The primary causes of layoffs are the foreseeable recession and the geopolitical scenario which have led to inflation, impacting many industries. Prominent players in the IT and Technology domain are being cautious to ensure profitability and better predictability of business. Agrees Karanth, “The larger layoffs related to enterprise strategy and austerity are mostly across the ranks and ratings of performance. Such layoffs related to macroeconomic movements are typically steamrollers on entire divisions, geographies and business units. While each enterprise has their own pattern of priority on the layoffs, the high cost and high volume headcounts typically come under the lens faster.” Look out for red flags: “Layoffs in a situation like now are largely written on the wall. It is often the speed and style of a layoff that's a surprise to talent, and not the layoff by itself,” says Karanth. Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management. “Additionally, if a company is reducing or eliminating certain departments or projects, it may be a sign that layoffs are coming. If there are rumours of layoffs or if employees are being asked to take unpaid leave, this could also be a sign that layoffs are imminent. Finally, if the company is not meeting its financial goals or is experiencing a downturn in business, layoffs may be a possibility,” says Alug. Hiring remains slow: “Many of those who lost their jobs are still looking for work, as nearly every major corporation has put a freeze on new hiring due to global macroeconomic conditions and recession fears. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. Looks like the trend would continue for some time,” says Sivaprasad. However Karanth feels that while tech hiring has slowed down, there are opportunities for talent who are flexible and agile to look beyond their domain. The non-tech sector's talent demand has been compensating well for tech's hiring slowdown. <keyword id="2838370" type="General" weightage="50" keywordseo="shraddha-jain" source="Orion">Shraddha Jain</keyword>, who is also known as 'Aiyyo Shraddha' on social media, posted a hilarious video on Instagram, where she slammed companies for laying off employees despite making a profit. "At the company offsite, we celebrated the company tripling its profit in a year. What happened? A month later we are so poor. Who robbed us?" she asked. While these are questions that reflect the grim reality of large scale layoffs, employees should brace themselves for tough times ahead. 2023 will be a turbulent ride.

Tech layoffs to continue for sometime thanks to a slowdown in demand and an uncertain economic environment

<keyword id="143" type="CITY" weightage="100" keywordseo="Bollywood">Bollywood</keyword> has finally come up with a fun-filled, breezy rom-com that features the Gen Y with a genuine frankness and without the traditional trappings of a boy-meets-girl story. But this time, the man is from the North, the woman is from the South and the cultural clashes, strongly upheld by the two pairs of in-laws, nearly ruin the relationship. Inspired by <keyword id="6390428" type="PERSON" weightage="100" keywordseo="Chetan-Bhagat">Chetan Bhagat</keyword>’s best-selling novel, <keyword id="694041" type="UNKNOWN" weightage="100" keywordseo="2-States-The-Story-of-My-Marriage">2 States: The Story of My Marriage</keyword>, the Arjun Kapoor-Alia Bhatt-starrer <keyword id="72970" type="UNKNOWN" weightage="100" keywordseo="2-States">2 States</keyword> sparkles on-screen (at least during the first half) and has made a big bang at the <keyword id="827271" type="UNKNOWN" weightage="100" keywordseo="Domestic-Box-Office">domestic box office</keyword>, collecting around Rs 38 crore nett over its debut weekend. The first Monday (Day 4, April 21) did not disappoint either and earnings stood at around Rs 6 crore, as per Koimoi. Total <keyword id="1996079" type="UNKNOWN" weightage="100" keywordseo="Overseas-collections">overseas collections</keyword> during the first weekend amounted to an estimated Rs 13.66 crore. 
 
“2 States has a FANTABULOUS weekend. Friday Rs 12.42 crore, Saturday 12.13 crore, Sunday 13.51 crore. Total: Rs 38.06 crore nett. SUPER HIT,” tweeted trade analyst Taran Adarsh. According to <keyword id="255727" type="COMPANY" weightage="100" keywordseo="Box-Office-India">Box Office India</keyword>, the film has emerged as the biggest hit of 2014 and has the potential to be the first Super Hit film of the year, depending on how well it can sustain over the next 10 days or so. 
 
Other two releases of the week include <keyword id="1135108" type="UNKNOWN" weightage="100" keywordseo="Dekh-Tamasha-Dekh">Dekh Tamasha Dekh</keyword>, a brutally honest and vitriolic political <keyword id="1462374" type="COMPANY" weightage="100" keywordseo="Satire">satire</keyword> directed by theatre icon Feroz Abbas Khan (of Tumhari Amrita fame), and <keyword id="1167288" type="UNKNOWN" weightage="100" keywordseo="Lucky-Kabootar">Lucky Kabootar</keyword>, a <keyword id="24069" type="UNKNOWN" weightage="100" keywordseo="romantic-comedy">romantic comedy</keyword> starring <keyword id="1364986" type="UNKNOWN" weightage="100" keywordseo="Eijaaz-Khan">Eijaaz Khan</keyword> and <keyword id="3212" type="PERSON" weightage="100" keywordseo="Kulraj-Randhawa">Kulraj Randhawa</keyword>. The latter, directed by <keyword id="1660883" type="UNKNOWN" weightage="100" keywordseo="Shammi-Chhabra">Shammi Chhabra</keyword>, has been released after too many delays and depicts how <keyword id="6369280" type="COMPANY" weightage="100" keywordseo="Lucky">Lucky</keyword> (Eijaaz) ends up marrying the Plain Jane <keyword id="1734" type="PERSON" weightage="100" keywordseo="Laxmi">Laxmi</keyword> (Kulraj), instead of the glam babe <keyword id="190428" type="PERSON" weightage="100" keywordseo="Kammo">Kammo</keyword> (<keyword id="33221" type="PERSON" weightage="100" keywordseo="Shraddha-Das">Shraddha Das</keyword>). But for both the movies, the collections are hardly notable, thanks to very little promotion and near-zero hype. While Lucky Kabootar collected a little over Rs 1 crore in the first two days (Sunday and Monday numbers are still <keyword id="6357415" type="ENTERTAINMENT" weightage="60" keywordseo="missing">missing</keyword>), Dekh Tamasha Dekh garnered around Rs 4.7 crore during the same time span. But we will take a closer look at these two after decoding the tremendous <keyword id="25892" type="ORGANIZATION" weightage="100" keywordseo="box-office">box office</keyword> success of 2 States. 
 
 
 With the <keyword id="6364416" type="COMPANY" weightage="80" keywordseo="Good-Friday">Good Friday</keyword> fervour adding to its charm, <keyword id="2208706" type="UNKNOWN" weightage="100" keywordseo="Abhishek-Varman-directed">Abhishek Varman-directed</keyword> 2 States saw 50-60% occupancy at multiplexes on the first day and also did well in the mass belt. Till date, the best performers are Mumbai and Mysore, with Mumbai amassing over Rs 13 crore nett and Mysore collecting around Rs 3 crore nett. The movie’s opening is the second biggest ever for a non-star-cast film after <keyword id="6621270" type="UNKNOWN" weightage="100" keywordseo="Grand-Masti">Grand Masti</keyword> (2013). <keyword id="127336" type="ENTERTAINMENT" weightage="100" keywordseo="Bhaag-Milkha-Bhaag">Bhaag Milkha Bhaag</keyword> (2013), <keyword id="549195" type="ENTERTAINMENT" weightage="100" keywordseo="Student-of-the-Year">Student Of The Year</keyword> (2012) and <keyword id="1710502" type="UNKNOWN" weightage="100" keywordseo="Shuddh-Desi-Romance">Shuddh Desi Romance</keyword> (2013) are the next in order after 2 States. 2 States is also one of the highest grossers of 2014 and has already surpassed the lifetime collections of some noted <keyword id="569603" type="UNKNOWN" weightage="100" keywordseo="Bollywood-flicks">Bollywood flicks</keyword> including <keyword id="1520199" type="UNKNOWN" weightage="100" keywordseo="Hasee-Toh-Phasee">Hasee Toh Phasee</keyword>, <keyword id="853887" type="UNKNOWN" weightage="100" keywordseo="Shaadi-Ke-Side-Effects">Shaadi Ke Side Effects</keyword>, <keyword id="6354768" type="ORGANIZATION" weightage="100" keywordseo="Highway">Highway</keyword> and <keyword id="1434830" type="UNKNOWN" weightage="100" keywordseo="Yaariyan">Yaariyan</keyword>. That is definitely good news for producers <keyword id="27326" type="PERSON" weightage="100" keywordseo="Sajid-Nadiadwala">Sajid Nadiadwala</keyword> and <keyword id="3778" type="PERSON" weightage="80" keywordseo="Karan-Johar">Karan Johar</keyword>. 
 Going by its <keyword id="1996031" type="UNKNOWN" weightage="100" keywordseo="Box-office-performance">box office performance</keyword>, 2 States seems to have done a commendable job, with <keyword id="6354526" type="UNKNOWN" weightage="100" keywordseo="Alia-Bhatt">Alia Bhatt</keyword> (<keyword id="2204646" type="UNKNOWN" weightage="100" keywordseo="Ananya-Swaminathan">Ananya Swaminathan</keyword>) and <keyword id="114453" type="PERSON" weightage="100" keywordseo="Arjun-Kapoor">Arjun Kapoor</keyword> (<keyword id="2204645" type="UNKNOWN" weightage="100" keywordseo="Krish-Malhotra">Krish Malhotra</keyword>) showing a rare on-screen chemistry that rocks and sizzles. The young people meet at the <keyword id="6429635" type="ORGANIZATION" weightage="100" keywordseo="IIM-Ahmedabad">IIM-Ahmedabad</keyword> campus and fall in love, but it is, by no means, a campus romance as harsh social realities await them outside. And the movie, too, stumbles at that point as we are led to <keyword id="122267" type="UNKNOWN" weightage="80" keywordseo="orthodox">orthodox</keyword> households (Krish is a <keyword id="5105" type="ORGANIZATION" weightage="100" keywordseo="Punjabi">Punjabi</keyword> lad and Ananya is a <keyword id="6356629" type="COMPANY" weightage="100" keywordseo="tamil">Tamil</keyword> lass from Chennai as all of you must know by now), instead of modern abodes housing millennial open culture, and two pairs of stereotype Bollywood parents. The rest of the struggles and tribulations faced by the young lovers follow the beaten path until the final-and-inevitable reconciliation that makes everyone happy. 
 
Interestingly, Bhagat’s work has managed to ward off the cliché that lies inherent in cultural clashes and generation gaps. However, the movie has an overdose of everything although it manages to retain some kind of charm that will keep you hooked. As Saibal Chatterjee of NDTV so rightly pointed out, “2 States is a <keyword id="2208734" type="UNKNOWN" weightage="100" keywordseo="Cross-culture-love-story">cross-culture love story</keyword> that strives to be sweet, funny and emotionally wrenching all at once. It is occasionally funny and sweet in parts all right, but the <keyword id="1204454" type="UNKNOWN" weightage="100" keywordseo="family-drama">family drama</keyword> at the film’s core has a severely stultified feel… It sets out to be a slice-of-life drama about a real couple grappling with the politics of <keyword id="2208729" type="UNKNOWN" weightage="100" keywordseo="Inter-community-marriage">inter-community marriage</keyword>, but it fails to generate enough energy and warmth to draw the audience into a tight clinch.” 
 
In stark contrast to 2 States, Dekh Tamasha Dekh (starring <keyword id="317266" type="PERSON" weightage="100" keywordseo="Vinay-Jain">Vinay Jain</keyword>, <keyword id="2218" type="PERSON" weightage="100" keywordseo="Satish-Kaushik">Satish Kaushik</keyword> and <keyword id="1559" type="PERSON" weightage="100" keywordseo="tanvi-azmi">Tanvi Azmi</keyword>) is based on a true story and ruthlessly reveals a nation’s <keyword id="2208740" type="UNKNOWN" weightage="100" keywordseo="Political-hypocrisy">political hypocrisy</keyword> and <keyword id="877158" type="UNKNOWN" weightage="100" keywordseo="Communal-Disharmony">communal disharmony</keyword> with the help of its twin tools – satire and <keyword id="424300" type="UNKNOWN" weightage="100" keywordseo="Irony">irony</keyword>. Too many human elements are woven here in a complex tapestry, but the very core of <keyword id="6355987" type="ORGANIZATION" weightage="100" keywordseo="violence">violence</keyword>, <keyword id="6388475" type="UNKNOWN" weightage="100" keywordseo="tragedy">tragedy</keyword> and hopelessness would hit us hard and keep us wondering about the multi-layered reality we are compelled to confront every day. Although not a typical art house film, this movie is meant for a niche audience and offers a <keyword id="2208742" type="UNKNOWN" weightage="100" keywordseo="Gripping-tale">gripping tale</keyword> of the <keyword id="911828" type="UNKNOWN" weightage="100" keywordseo="dark-forces">dark forces</keyword> that we are not likely to forget in a hurry. 
 
Images: Indiatimes

Box Office: 2 States Raking
In Big Bucks; Dekh Tamasha Dekh Offers A Gripping Tale

Raipur, May 27 () Twenty-four-year-old Shraddha Patel, a private school teacher in Durg district of Chhattisgarh, was supposed to get married on May 17, but her family had to call off the wedding after the coronavirus- induced lockdown came into force in March. Her family is in a dilemma now as they want to hold the marriage ceremony next month with downsized gathering and simple celebration, whereas the couple is unwilling to tie the knot in the absence of their relatives and friends. "We had booked the venue and started with pre-marriage preparations after my engagement on March 1. Generally in our state wedding arrangements begin much ahead of the wedding schedule," Shraddha told over phone. Her marriage was fixed with an IT assistant at a steel plant in Durg. "Our families (bride and groom) then planned to reschedule the marriage in the year end, but in view of the muhurat (auspicious moment), they wanted to hold it next month," she said. "I don't want a lavish wedding with hundreds of guests, but at least I want my close friends and relatives to be present there on the occasion. However, it is not possible according to the present rules which allow only 15 people to attend a wedding function. So we are trying to figure out when to hold the wedding," she said. T Vaibhavi (21), a final year student of polytechnic college in Bhilai town, has the same story. Her father had booked a marriage hall 'Jain Bhavan' in Bhilai for her wedding with a Hyderabad-based engineer on June 10 and paid a handsome amount in advance. "We have no regret that we have lost money given in advance for marriage preparations. We just wish that we all should get rid of coronavirus soon and people should stay safe. Marriage can be held later," said T V Murali, Vaibhavi's father. According to sources, nearly 80 per cent of weddings were postponed across the state due to the lockdown. It can be assessed by the fact that the administration in various districts have so far received only a few applications seeking permission for holding weddings in May and June. During the past two weeks, the Durg district administration received applications seeking permission for holding 400 weddings, government officials said. Similarly, authorities in Raipur received 400 such applications during this period while permissions were sought for 134 weddings in Raigarh town, 50 in Korba and 90 in Bilaspur, they said. Most of the applications were received from rural areas, officials said. The wedding hall owners and caterers are bearing the bruntof the cancellation of weddings scheduled in this summer (April-June), which is considered as a peak marriage season in the state. Sanjay Choubey, who runs a wedding hall- Abhinandan Palace- in Raipur said,"We had about 18 bookings for April and May and all of them were cancelled after the lockdown was imposed. We suffered a cumulative loss of about Rs 25 lakh in this season." "We are not even in a position to refund the advance as we have to spend around Rs 60,000 per month on maintenance of the venue. We are in complete loss and it seems the situation will remain the same throughout the year," he said. A Raipur-based caterer, Vimal Yadu, said, "My business has been in total loss since the last three months. I had got the order for around 22 weddings but all of them were cancelled. I suffered a loss of about Rs 15 lakh." "It is not just the hall owners or caterers, but even those who provide lights, flower decorations and sound services also suffered a huge loss," he added. COR TKP NP NP

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