: More than 199,000 tech-sector employees have lost their jobs since the start of 2023

by | May 26, 2023 | Stock Market

More than 199,000 global technology-sector employees have been laid off since the start of 2023, according to data compiled by the website Layoffs.fyi. The website’s tally of 2023 global tech layoffs has gone up almost eightfold since mid-January.

The data show that 2023 has surpassed 2022 for global tech redundancies, with 714 tech companies laying off 199,759 employees since the start of the year. Last year, 1,024 tech companies laid off a total of 154,336 employees, according to Layoffs.fyi. Now read: Meta begins third round of layoffs: reports Chinese tech giant Alibaba Group Holding Ltd.’s
cloud unit has started cutting 7% of staff, Barron’s reported this week, citing a source familiar with the matter. News of the job cuts was first reported by Bloomberg. MarketWatch has reached out to Alibaba with a request for comment. Facebook parent Meta Platforms Inc.
has started its latest round of layoffs, according to reports, marking the tech giant’s third round of cuts this year. Meta declined to comment in response to a request from MarketWatch for confirmation of the latest layoffs. Meta began a second round of layoffs in April, cutting technical positions, according to LinkedIn posts. Meta is in the midst of cutting 21,000 jobs in 2023 as part of what CEO Mark Zuckerberg has described as a “year of efficiency” for the company. Related: Meta begins cutting technical jobs in latest round of layoffs “So far we’ve gone through two of the three waves of restructuring and layoffs that we had planned for this year — in our recruiting and technical groups,” Zuckerberg said during an April 26 conference call to discuss the company’s first-quarter results. “In May we’re going to carry out our third wave across our business groups.” Other big-name tech companies have also been making cuts. In early May, Microsoft Corp. 
-owned LinkedIn announced plans to cut its workforce by more than 700 employees. The company is also getting rid of its local jobs app in China. “As we guide LinkedIn through this rapidly changing landscape, we are making changes to our Global Business Organization (GBO) and our China strategy that will result in a re …

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