Massive hiring freeze trend in South Africa

In 2022, hiring freezes and layoffs will become more common domestically and internationally, according to Nedgroup, as CEOs in South Africa and the United States attempt to cut costs in preparation for a possible recession. The most recent Pulse Report for November from Big Tech, which examined both domestic and international markets, reveals that the company has been terminating a number of employees since December 2021. At Tesla, Twitter, Amazon, and the tech conglomerate Meta, which Elon Musk founded, over tens of thousands of employees have been laid off. According to Nedgroup, among the numerous tech companies that have reduced their workforce, Twitter has received the most media attention. This took place following Elon Musk's purchase of the business on October 28. “He started a massive overhaul of the company's teams and business model and laid off fifty percent of Twitter's 7,500 employees. According to Nedgroup, "financial backers are igniting worries that ...