Tech Industry Turmoil: A Detailed Overview of 2023 Layoffs

The ongoing tech industry reckoning from the previous year is still in progress. In 2023, more than 240,000 jobs were reported lost, an increase of 50% compared to the previous year. Major tech companies such as Google, Amazon, Microsoft, Yahoo, Meta and Zoom initiated mass layoffs at the start of the year, with layoffs announced by startups across various sectors during the first half of the year. While layoffs slowed down in the summer and fall, recent numbers indicate an increase in job cuts again. Despite fears of a recession, the tech sector’s rebound has been slow, prompting companies to focus on efficiency over growth. Tracking these layoffs helps understand their impact and the pressures companies face. As of November 2023, the total count of layoffs has reached 224,503. This exceeds the total layoffs in 2022, indicating a worsening trend. Each month from January to October has seen significant layoffs, with November also revealing some major layoff announcements from companies like Amazon, FreshBooks, and Sega. The extent of layoffs during each month showcases the significant challenges the tech industry continues to face. This data visualization reveals the impact of these layoffs and how they are affecting companies and employees across the industry.