This past year has not been kind to many workers in the tech space. TechCrunch reported that more than 240,000 jobs have been lost in 2023 throughout the industry, a total that is 50% higher than last year and continues to grow.
Massive layoffs became headlining news from major companies like Google, Amazon, Microsoft, Yahoo!, Meta, and Zoom. Startup tech companies also experienced staff cutbacks in the year’s first six months. The layoffs slowed down in the summer and fall, but the cuts are picking back up speed this winter.
While economists advised against fears of a recession, building some tech companies has happened slower than expected. Nearly 90,000 employees were laid off in January alone. In January, companies that laid off employees included SoFi Technologies, NetApp, Groupon, Impossible Foods, PayPal, Spotify, Arrival, Waymo, Alphabet, and Fandom.
Twitter laid off over 200 employees in February, continuing its staff cleanout since Elon Musk bought the company in October 2022. Since Musk took the reins, Twitter’s overall employment decreased by 70%. On March 6, SiriusXM laid off 475 employees. On March 14, Mark Zuckerberg confirmed Meta planned to cut 10,000 employees and 5,000 roles it had yet to fill. Twitch announced on March 20 that it would lay off 400 employees.
