In 2021, an average tech company earns $182 per second.
In 2022, Apple posted profits of more than $1,700.
In January of this year, the technology companies laid off 75,017 employees.
Since the Covid-19 pandemic, the world has undergone some drastic changes that have completely shaken up all industries. After three years of the health crisis, where companies and industries had to adapt to new normalities, some projects have been lifted and others are beginning to reflect the havoc as is the case for this 2023 in technology companies around the world.
Given this scenario, Covid-19, the war between Ukraine and Russia and all the supply problems have triggered a wave of layoffs and reductions in the world’s technology companies. What data from 2020 positions this sector in United States with a growth of 4.2 percent, according to the report Perspectives of the Information Technology (IT) Industry of the firm CompTIA.
In that same order, a study conducted by CNBC and shared in May 2022 highlighted that, based on the latest earnings reports published by seven of the largest technology companies, as are Amazon, Apple, Alphabet, Microsoft, Facebook, Tesla and Netflix, it can be said that these generated per minute in the first three months of 2021, an average of 373 thousand 606 dollars.
But those data changed at the end of 2022, where the United States stock index that includes the 100 values of the companies The most important in the technology sector, the Nasdaq, collapsed and there have been countless layoffs from various companies in this area.
What about technology companies?
In recent months, and according to the monitoring company TrueUp, in January of this year, technology companies fired 75,017 employees, in that month alone. And making a more exhaustive count, From February 2022 to date, job layoffs in the tech industry were 315,584 people.
After these data, names like Amazon, Meta, Twitter, Lyft, Stripe, Robinhood and Coinbase are some of the companies that have laid off employees in recent weeks. The blows come from several fronts: Companies have announced significant staff cuts, historical stock market losses have been recorded and there is an economic context with the brakes on due to high inflation and high energy costs.
That according to all its spokespersons, it is a wave of exits to combat the repercussions of the economic crisis and other problems that are registered in the world.
In this sense, many have already set their sights on this sector and wonder what might happen in the future.
Confirming the aforementioned data, Luis Felipe Treviño, in an investigation, managing director of the investment firm private Beamonte Investments, refers that at the time the pandemic was a boom opportunity for this industry, since no one expected such great growth in the midst of a global crisis.
“The problem is that the demand of the last two years is not being reflected in higher income and the impact of the pandemic has already diminished. And the reality is that there are not so many future resources for technology companies to help them invest in the large number of workers they have hired,” the expert explained in a press release.
In this sense, from a financial point of view, technology companies had to have “a risk plan, take care of cash flow and reduce costs, considering that technology is an industry that by its nature can take advantage of the benefits of teleworking”.
“Many of the workers in the sector are relatively young and have not experienced an economic downturn in their careers, like the one in 2000 or 2008. This may be a rude awakening for workers in the technology sector, who have so far enjoyed the famous advantages of the industry”, added Treviño.
Like this specialist, another, also express their opinion on the subject, where they highlight that there are many effects that are currently hitting the technology industry, even reasons that are outside their own spheres. of companies and have to do with issues that affect other sectors of society, generating a tail of ‘uncertainty’.
Let us remember that in statements by the company managers themselves, even Mark Zuckerberg acknowledged have been wrong in their economic predictions during the pandemic on issues such as electronic commerce, the need for a large workforce and investments, but “this did not turn out as expected,” said the CEO of Meta last year.
And it is like this, as in the speeches of the experts, this crisis is a natural adjustment after the exorbitant growth of these companies during the confinement, which will once again gain strength thanks to innovation.
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