HCL cuts 350 employees who work on Microsoft project The report

New Delhi, Sep 13 : In the midst of a global recession, market conditions, the tech giant HCL Technologies has reportedly laid off 350 employees around the world including in India, Guatemala and the Philippines who were working on an Microsoft news-related project, media reports claimed.

The final day of work is said to be September 30 for employees who were laid off, and they will be receiving severance payments.A report from last month found that at the least half of companies around the world are planning to cut employees, with most reducing bonuses and rescinding job offer due to recessionary economic conditions.

According to the most recent PwC Pulse: Managing business risk in 2022 survey , which was released in the last month in the US 50 percent of respondents are cutting their overall workforce, even business leaders are worried about retaining and hiring talent.Over 32,000 tech employees have been dismissed in the US up to July, which includes those employed by Big Tech companies like Microsoft and Meta (formerly Facebook), and the worst hasnt been over for the tech industry, which has seen massive stock sales.

In India more than 25,000 workers who were in the beginning of their careers have lost their jobs since the outbreak began more than 12,000 have been laid off this year.vc/ar.