In the past few months, a lot of companies have announced job cuts and layoffs are still going on as they fear a recession is coming. The top tech companies like Twitter just recently laid off around 3,800 employees to save costs. Facebook’s parent company Meta also fired 11,000 employees just a few days back. Almost every week, major tech companies are announcing layoffs. While a lot of people are having a tough time finding a job, the most impacted employees are the one who hold H1B visas and these also include many Indians.
They need to find a job within 60 days to continue staying in the US, and if they fail to get one, then they will be forced to move back to India. Looking at the situation right now, Harsh Jain, who is the CEO and co-founder of Dream11, has publicly announced that Indians should come back to their home country and work with Indian tech companies to help them grow.
“With all the 2022 Tech layoffs (52,000+!) in the US, please spread the word to remind Indians to come back home (specially those with visa issues) to help Indian Tech realise our hyper-growth potential in the next decade,” Jain said on Twitter.
He is openly offering jobs to impacted employees, saying that his company is always on the hunt for “great talent, specially with leadership experience in Design, Product, & Tech.” Jain also bragged about the company’s good financial condition to give them some sense of job security and even lure people.
While a lot of tech companies are struggling to manage funds for the future and laying off many employees to save costs, Jain boasted about the profitable business by saying, “We at Dream Sports are a profitable, $8 Billion Co with 150 Million+ users and 10 kickass portfolio companies in,” he said.
Some big tech companies like Meta have blamed the macroeconomic environment, and drop in ad revenue as a reason for layoffs. The company has also given over-hiring as another reason to reduce headcounts. Some have done the same thing in the name of restructuring teams.
