This past month’s layoffs in big tech American companies have been on the news. Since their fleets were enormous, even if the layoff represented just 5% of the total employees, thousands of professionals were left unemployed. This happened because they overhired during the tech boom due to the pandemic. Now sales are decreasing and companies need to cut some expenses.
However, European companies were more cautious and did not hire that many. That is why it was common thing to assume that layoffs would not hit the continent. Unfortunately, some countries such as the Netherlands are suffering from them too. It is due to the huge inflation that started in 2022.
In terms of absolute numbers, layoffs in Europe are not that big. Nevertheless, they represent huge shares of their fleets.