Bizongo to lay off 15% of its employees

The AI-powered vendor digitization and embedded financing platform company, Bizongo is to lay off 15% of its employees or 50 employees.

A Bizongo spokesperson said, “We are driving sharper focus towards key business goals and in lieu of this, we have reallocated our people.”

“Parting ways with people is never easy and these are difficult decisions. We are fully committed to extending support to affected employees to the best of our abilities”, the spokesperson added.

The layoff will happen after the company has recently raised USD 50 million funding round.

Flexport plans to cut up to 30% of workforce 

According to Reuters, Flexport plans to lay off up to 30% of its workforce by the end of the month following a change of CEO in September. The layoff could affect up to about 1,000 people.

The move of layoffs is part of a larger trend as companies cutting jobs and slowing hiring as investors become increasingly fearful of a recession. Tech companies have either frozen the hiring process or laid off many employees. 

Amazon sacked 27,000 employees in three months. The major companies that laid off employees include Infosys, Amazon, Google, Byju’s, Wipro, and Salesforce laid off a maximum number of workers globally.

So far in 2023, there have been 1,651 layoffs at tech companies with 365,490 people impacted (1,296 people per day). In 2022, there were 1,557 layoffs at tech companies with 243,318 people impacted (667 people per day).