The job market has become increasingly volatile due to the surge in layoffs, resulting in over 1.2 lakh employees being terminated this year, as nearly 480 tech companies have resorted to cost-cutting measures. The current situation has had a significant impact on Indians living abroad on work visas, particularly H1B visa holders, who must find new employment within 60 days of termination, or they will be forced to leave the country.
One such individual who has been affected by the layoffs is Vandan Kaushik, a senior product manager who was employed at Microsoft for eight years before being laid off. Kaushik and his entire team were let go during the most recent round of layoffs at Microsoft. In a LinkedIn post, Kaushik discussed his experience and shared his efforts to find new employment.
Kaushik held various positions at Microsoft, including launching new ad types on Bing, supporting international customers on Azure, and introducing a new language for the company's Indonesian customers. Kaushik mentioned that he had been working on diversifying Microsoft’s supply chain, reducing onboarding costs, and increasing efficiency.
Upon hearing the news of his termination, Kaushik expressed how supportive his colleagues and leadership were. Despite the difficult news, Kaushik shared that his immediate leadership team did not rush the transition process but instead checked on one another to ensure that everyone was doing okay. Kaushik stated that he has rarely seen such a positive and supportive attitude from colleagues and leadership in his two decades of working.
In the midst of this challenging situation, Kaushik is seeking employment opportunities and has reached out to his LinkedIn network for help. His post conveyed excitement and optimism for the new opportunities that may come his way.
The tech industry has been experiencing financial difficulties since the demand boom related to the Covid pandemic subsided. Companies are implementing various cost-cutting measures such as divesting from aligned businesses, focusing on core areas, launching paid subscription plans, and conducting mass layoffs. Earlier this year, Microsoft announced that over 10,000 employees across various levels, functions, teams, and geographies would be laid off over the next few months.
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