HCL Technologies lays off 350 employees globally working for Microsoft’s news platform MSN: Reports

New Delhi: HCL Technologies has reportedly laid off 350 employees globally that include India, Guatemala and the Philippines. The employees were working on HCL's client Microsoft’s news platform MSN , and were apparently informed about being fired in a town hall meet last week. 

The laid-off workers will get severance pay and the last day of work is reported to be September 30. Media reports said that Microsoft was not satisfied with the quality of work being rendered under HCL who had got the contract work. Now, after the expiry of contract, the employees stand to lose their job, reports added. ()

At least half of the companies worldwide are planning to lay off people, most are reducing bonuses and rescinding job offers amid the economic downturn, IANS quoting a new report had said recently. ()

According to the latest PwC 'Pulse: Managing business risks in 2022' survey in the US, 50 per cent of respondents are reducing their overall headcount, even as business leaders remain concerned about hiring and retaining talent.

More than 32,000 tech workers have been laid off in the US till July, including at Big Tech companies like Microsoft and Meta (formerly Facebook), and the worst has not been over yet for the tech sector that has seen massive stock sell-off.

In India, more than 25,000 startup workers have lost jobs since the pandemic began -- and more than 12,000 have been fired this year.