According to Proshare, amid global staff layoff, which has continued to hit tech companies due to the economic shutdown, no Nigerian tech company has announced it is laying off workers.

But the rumble, Proshare says, is already being heard from beneath the industry. Citing data from Layoffs FYI, a global startup tracking platform, it says tech companies worldwide have laid off a total of 42,356 tech workers in November across 122 layoff events.

It argues: “With a few days left in November, the figure will likely increase. Recall that Stripe, the American tech giant, earlier this month, announced 1,120 head cuts, representing 14% of its workforce, like Meta, Twitter, Amazon, and so on. With these developments, the issue of layoff is no longer a question of if, but when and who will be affected.

“There is a rising concern not just for global tech workers thrown into the labour market but for Nigerian tech employees. Analysts believe there would be more layoffs as other tech companies would want to use the current trend to trim down their headcount.”