As the tech industry faces a crunch due to the recent mass layoffs imposed by leading companies such as Meta and Twitter, an Indian American CEO believes that the downsizing approach is not ideal, and will have a negative impact in the future.
Condemning the reduction in workforce Raj Chowdhury, CEO of HashCash said, “Companies going with mass layoffs have a price to pay in morale, performance, and brand value. Removing loyal high-performing talents from your arsenal is not a strategic initiative but a quick and shabby easy fix.”
