The layoffs saga is progressing at an alarming pace in the technology industry with substantially high number of employees losing their jobs every day.
The latest reports are suggesting that Philips and OLX are set to cut down heavily on their word force.
Philips is set to lay off over 6000 employees in its latest job-cut exercise. The company is laying off over 13% of its work force to improve profitability.
OLX is also doing something similar as the company is set to give pink slips to over 1500 of its employees. This is roughly 15% of its work force.
Giants like Facebook, Google, Amazon, and Microsoft have also been laying off employees at a staggering rate.