The company sources termed the cuts as part of an aggressive measure to reduce excess burn and the need to prioritise profitability over growth. The entire tech sector has been hit by the global economic slowdown. Even giants like Apple, Microsoft and Snap are feeling the squeeze and have cut back on hiring plans.

The Indian IT sector, which has a large part of its earnings from outside India, is also feeling the heat but has not entered the meltdown stage yet. The start-ups, however, are shedding jobs. The list includes Byju’s, Unacademy, Vedantu, Cars24, Ola etc. Ryan Roslansky, CEO of LinkedIn, has said that there will be a hiring freeze across various verticals of the company.

Experts are of the opinion that employees are turning to different platforms to look for new and better opportunities and even upskill themselves for better prospects. The past year was filled with several changes to the conventional workplace, and hybrid work emerged as the new norm. As per a survey, 74% of Indian employers agree that hybrid working is the future and is here to stay for the long run.

We can only expect this trend to continue to evolve as remote, freelance, and contract employees become even more prevalent, and employees seek more work-life balance. The workplace has been evolving drastically, and technology has continued to be at the centre of everything. Hybrid work, however, comes with a few challenges.

Going forward, video collaboration will become the norm of communication. The rise in the adoption of AI is with a focus on the end-user experience. However, if companies can ensure equity in a hybrid work setup, create employee-friendly policies, and focus on embracing collaboration technology deep into an organisation's DNA, hybrid working can not only survive as the future of work but thrive.

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