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 NameLayoffs Figures (Approximates)
Amazon10,000
Cisco4,500
Intel21,000
Meta11,000
Amazon10,000
Google15,000
Twitter4,900
Netflix510
Ola2,100
Blinkit1,600
mFine600
Vedantu725
Unacademy1,120
Byjus2,500
Front Row250
WhiteHatJr1,000
Udaan700
Cars24600
Toppr350
Far Eye250
Clear Tax190
City Mall191
Furlenco180
Chargebee142
Yojak140
MPL100
Lead100
NovaBenefits80
BlueStacks60
WazirX60
OyeRickshaw40
PharmEasy40
Eruditus40

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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