The tech industry has observed an increase in layoffs, with over 240,000 jobs lost in 2023, marking a 50% growth compared to last year. Major tech companies such as Google, Amazon, Microsoft, Yahoo, Meta, and Zoom drove mass workforce reductions earlier in the year, and startups also announced cutbacks. Economists have expressed concerns about a potential recession, but the tech sector’s rebound has been slow, leading companies to scale back workforces and shift from growth to efficiency. The ongoing layoffs have a significant human impact and play a role in shaping future risk profiles.
Here’s a comprehensive list of tech layoffs in 2023 by month: January: 89,554; February: 40,021; March: 37,823; April: 20,014; May: 14,928; June: 10,958; July: 10,589; August: 9,545; September: 4,632; October: 7,331; November: 6,956; December: detailed layoffs data.
In December 2023, several companies have announced layoffs, including Chipper Cash, SmileDirectClub, Sunfolding, Zulily, D2iQ, Atmosphere, Tidal, ZestMoney, Navan, Incredibuild, Bill, CourseHero, Pivo, and others.
These cuts have impacted companies in various sectors of the tech industry, and the number of layoffs continues to rise. The data also shows the number of job cuts by the end of each month, with 224,503 employees affected. Tech layoffs in 2023 have already surpassed the total number of tech layoffs in 2022, indicating the severity of the situation. The trend demonstrates the challenges faced by the tech sector and its workers, and the uncertainty that lies ahead in the coming months.