People might be aware that some of the esteemed and largest organisations are laying off their employees left right and centre, are we heading into recession? Because I have seen my colleagues getting laid off and it's been months they are unable to find a job. Either we are heading towards recession or globally companies overhired the employees post COVID hence clearing the additional manpower. I am bit convinced that it's like recession sort of thing and not sure to over hiring. Share your thoughts on this crisis which has left a good amount of people without any work.
The current layoffs likely stem from a combination of two factors: over-hiring during the pandemic and mismanagement from executive leadership. During the pandemic, companies understandably hired additional staff to manage the increased workload. However, some executives may have authorized these hires without thoroughly evaluating the long-term need for these positions within the company's workflow. Interestingly, when I search about layoffs, they mostly seem to be happening in tech industries. However, in other industries that I'm familiar with, the demand for employees remains high, making it easier to find a job.
Lets not ignore the fact that slowly companie are adopting machines that could help especially in production, take example the food industry where in the past people or man power are important in order to do the production going and to produces many products but because of the technology innovations production especially in food industry wherein one machine could do a lot of work than people and it will be more less cost because it is a machine, lets face it in the industries where AI or automative machine can pur on will most likely able to lay offf their workers as the machine is doing their job already, so the scary part is that we may expect more companies that will need less people to do the work. Thats why too much innovation and advancement could give both advantages and disadvantages, so will you let yourself be left behind? Do your part.