Salesforce CEO recently pledged no significant layoffs for the next 90 days. On his Twitter account, Salesforce CEO Marc Benioff published a statement. He clarified that there will be no significant layoffs in the next three months. He also urged the senior leadership to do their part by helping workers keep their jobs.
American IT Conglomerate
CEO of Morgan Stanley has also promised to not issue any layoffs. He assured that there will be no reduction in overall headcount in 2020. Chairman and CEO of Visa also assured his employees that there will be no layoffs in 2020.
Indian IT service firms are also in a much better shape. Top firms including Wipro, Infosys are already operating at 80-85% of their overall utilisation. These companies have not taken any public stand like many US firms but they will not cut jobs.
This is the perfect time for the tech industry to send across long-lasting message of providing a sense of job security to employees. Several companies need to be careful when it comes to allocating budgets but they will retain the existing headcount.