Tech layoffs spiked

[coffee]

Tech companies, bank chop hundreds of Bay Area jobs in fresh layoffs

Austin American-Statesman
Round Rock-based Dell Technologies cuts unknown number of sales team in latest layoffs
 

Layoff tsunami 2023: Tech companies laid off 2.26 lakh employees to date, 40% more than in 2022

 

In the span from January to December of 2022, the tech industry saw a dramatic surge in layoffs, with a staggering 164,744 employees being let go. This number is nearly eleven times higher than the 15,000 reported the previous year. An alarming 75,912 individuals found themselves unemployed in January alone, accounting for almost half of the total layoffs reported in 2022.

Following this, the number of job cuts decreased in February, but the trend persisted with approximately 40,000 more layoffs. Despite a decline in the subsequent three months, the tech sector still recorded almost 73,000 job losses during this timeframe.