The global technology sector has laid off 55,970 workers in the first 20 days of 2023, according to an analysis of datas sourced from layoffs.fyi.
During the COVID-19 pandemic, many tech firms hired a lot of workers as the demand for online services grew because of enforced lockdowns. Since these lockdowns eased, demand for online services has reduced and many tech firms have recorded reduced revenues.
“Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected.” When Twitter announced its mass layoff in 2022, a large chunk of its African team was affected. Also, in 2022 local tech firms like Chipper Cash, Kuda, Swvl, Wave, and more headlined layoffs on the continent.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Naira Exchange Could Impact 54.2% Unbanked Negatively – ReportThe Inclusion for all Initiative, a multifaceted advocacy programme, has suggested that Nigeria’s most vulnerable groups could be adversely affected by the
Read more »
Oil production crashes by 83% – ReportNigeria’s ability to produce crude oil has crashed by 83 per cent, findings have shown.
Read more »
Police vow swift attendance to PWDs after PUNCH reportThe Inspector General of Police, Usman Alkali-Baba has said concerted efforts have been put in place to ensure there is a cordial relationship between the police and the disability community.
Read more »
Rivers Community Dismisses Police Report Over Explosion At APC Campaign GroundThe people of Rumuwoji Community in Port Harcourt City local government area of Rivers State have dismissed the report by the police that it was a chieftaincy
Read more »
Weekly Report: Chatham House, Fuel Queues and Award For Buhari - Daily TrustBe it for health reasons or for a speech, London seems to be the second home of Nigerian politicians. Perhaps this is why three out of the four prominent
Read more »
APC: Report claiming Yahaya Bello has withdrawn support for Tinubu is false | TheCableThe All Progressives Congress (APC) says report that Yahaya Bello, governor of Kogi, has withdrawn his support for Bola Tinubu, standard bearer of the party, is false.
Read more »