Will there be a Telecom and ICT recession?

Opinion
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Source: :point_down:

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Bell’s 4,800 layoffs, largest in nearly 30 years, ‘feel like death by a thousand cuts,’ says Canadian Association of Journalists

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Ericsson to lay off 1,200 staff in Sweden as 5G spending slows

https://www.reuters.com/business/media-telecom/ericsson-lay-off-1200-people-sweden-2024-03-25/

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Big Tech post strong earnings and revenue growth, but cuts jobs along with Telecom Vendors

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Layoffs crash into Microsoft’s Azure for Operators

Microsoft is cutting employees in its Azure for Operators business, which targets the telecom industry. The moves dovetail with similar cullings at other telecom vendors, amid a downturn in operator spending.

Seems the trouble now is focused on Hyperscalers vs Telcos issues → Hyperscalers vs Telcos issues

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I’m sorry how is this needed? Isn’t 5G also provided with cellular networks?

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Intel is laying off over 15,000 employees and will stop ‘non-essential work’

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Samsung India to lay off over 200 executives with business slowing down

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Urgent wake-up call:
If you’re not actively updating your skills, you’re already falling behind.
Tech is evolving—so must you.

:brain: Learn. Unlearn. Relearn.

Will there be a Telecom and ICT recession in 2023
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TCS to cut 2% of workforce, affecting 12,000 employees amid skill gap and tech shift

https://www.moneycontrol.com/news/business/tcs-to-cut-2-of-workforce-affecting-12-000-employees-amid-skill-gap-and-tech-shift-13333687.html

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Cisco Layoffs 2024 – Resources and Recommendations

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Will there be a Telecom and ICT recession in 2023
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30,000 Amazon corporate employees are being eliminated in the largest mass layoff in the company’s history—surpassing even the 27,000 layoffs during the pandemic in 2022.

The three dozen thousand employees who will receive termination letters represent a small percentage of Amazon’s 1.55 million total workers, but a significant 10% of its approximately 350,000 corporate staff.

The initiative is being led by CEO Andy Jassy, who earlier this year launched an anonymous complaints hotline to identify inefficiencies. The program generated 1,500 reports, resulted in over 450 process changes, and has now culminated in 30,000 layoffs.

According to tech layoff tracking site Layoffs.fyi:

  • 2022: 165,000 layoffs across 1,064 companies
  • 2023: 264,000 layoffs across 1,193 companies
  • 2024: 153,000 layoffs across 551 companies
  • 2025: 128,000 layoffs across 218 companies

Although the number of companies conducting layoffs has decreased, the size of each layoff round has increased. If the HR buzzword in 2022/2023 was “pandemic,” in 2024/2025 it has become just two letters: AI.

Just in the past week:

  • UPS: announced it reduced its workforce by 48,000 employees this year
  • PwC: cut 5,600 employees in Q2
  • Target: eliminated 1,800 management roles (8% of its corporate team)
  • Paramount: cut 2,000 jobs across two rounds