How to Be Ready for the Global Economic Recession in 2023?

08/12/2022

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How likely is the world to fall into a recession has been the topic of discussion for quite some time now.   Many CEO of big companies including Amazon, Microsoft, Tesla are talking about upcoming recession. CEOs of Goldman Sachs and JPMorgan are convinced that it is inevitable.

Recession fears are predominant amongst most of the big economies including United States, United Kingdom, Canada, China, India and much of the Europe. In addition to recession fears, Americans may also be affected by rising interest rates in 2023. Many big companies have already started downsizing. Small firms have also started taking measures to cut costs in various ways. Here are some of the approximate figures by known brands.

Layoffs by Big Companies

Company Name Layoffs Figures (Approximates)
Amazon 10,000
Cisco 4,500
Intel 21,000
Meta 11,000
Amazon 10,000
Google 15,000
Twitter 4,900
Netflix 510
Ola 2,100
Blinkit 1,600
mFine 600
Vedantu 725
Unacademy 1,120
Byjus 2,500
Front Row 250
WhiteHatJr 1,000
Udaan 700
Cars24 600
Toppr 350
Far Eye 250
Clear Tax 190
City Mall 191
Furlenco 180
Chargebee 142
Yojak 140
MPL 100
Lead 100
NovaBenefits 80
BlueStacks 60
WazirX 60
OyeRickshaw 40
PharmEasy 40
Eruditus 40

Not all countries will be hit equally in the global recession. Some of the countries may very well tread it brilliantly. However, one thing for sure is that World economy is slowing down. And, you need to prepare yourself in advance for it. Read on to find out what exactly is economic recession and how one can save themselves from the tough times.

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