: More than 75,000 tech-sector employees have lost their jobs since the start of the year

by | Jan 31, 2023 | Stock Market

More than 75,000 global technology-sector employees have been laid off in the first few weeks of 2023, according to data compiled by the website Layoffs.fyi. The website’s tally of global tech layoffs so far this year has tripled in the last two weeks.

The data suggest that 2023 is on pace to surpass 2022 for global tech redundancies, with 234 tech companies laying off 75,912 employees in the first few weeks of the year. Last year, 1,024 tech companies laid off a total of 154,336 employees, according to Layoffs.fyi. Also read: More than 68,000 global tech-sector employees have lost jobs in 2023: layoff-data tracker Layoffs.fyi was set up by San Francisco–based startup founder Roger Lee to track layoffs during the COVID-19 pandemic. Lee is the co-founder of Human Interest, a digital 401(k) provider for small businesses, and Comprehensive, an employee-compensation platform. Major U.S. tech companies are firmly in the layoffs spotlight. Last week both International Business Machines Corp. 
and SAP
 announced layoffs. And earlier this month, Google parent Alphabet Inc. 

confirmed plans to lay off about 12,000 workers globally, while Intel Corp. 
said it was slashing hundreds of jobs in Silicon Valley. Microsoft Corp. 
also confirmed plans to cut about 10,000 positions. Earlier reports from Sky News and Bloomberg had indicated that the software maker was preparing to make cuts. Now read: Spotify joins Google, Intel, Microsoft, Amazon, Salesforce and other major companies laying off thousands of people Spotify Technology
has also joined the list of companies making layoffs this year. In a filing with the Securities and Exchange Commission, the streaming service said it was reducing its workforce by about 6%, which translates to about 588 jobs. Earlier this month, Coinbase Global Inc.
announced it would eliminate 950 jobs in an effort to cut costs.

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