Layoffs, Spreading to Industries other than IT

Today, Vodafone announced plans to remove 11000 employees in the next three years. The telecom company has approx 1,00,000 employees currently. Vodafone has already cut 1000 jobs in Italy and 1300 jobs in Germany earlier this year. 

AI adoption in most of companies is increasing. AI handles many crucial tasks in companies like filing and sorting documents or preparing and measuring KPI goals for screening candidates for potential roles. It is assumed that rapid growth in Artificial Intelligence has become the reason for mass layoffs by companies. It is more economical to keep AI as a virtual employee rather than a human employee. It has become a threat to the jobs of many corporate employees. In just recent months, A lot of tech companies have released news related to lay off of employees. Even the companies which are ruling in their field are also doing it. The best example of it – Google is eliminating 12,000 jobs, which make up about 6% of its workforce, while Amazon is laying off 18,000 employees. 

See how people are reacting to this new trend of laying off employees by tech companies.
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