: Tech layoffs exceed 240,000 in 2023

by | Oct 13, 2023 | Stock Market

More than 240,000 global technology-sector employees have been laid off since the start of the year, according to data compiled by the website Layoffs.fyi. The data show that 1,059 tech companies have laid off 240,193 employees thus far in 2023. Last year, 1,024 tech companies laid off a total of 154,336 employees, according to Layoffs.fyi.

This week Qualcomm Inc.
joined the list of companies making layoffs when it announced that it will cut about 2.5% of its workforce in December. The cuts will be centered in California, the chip maker said in filings with the California Employment Development Department Thursday. Related: Qualcomm trimming workforce by 2.5% with California job cuts Last month, Epic Games Inc., publisher of “Fortnite,” announced that it would be laying off 16% of its workforce, or 830 employees. About two-thirds of the layoffs were in teams outside of core development, the company said in a statement. Networking giant Cisco Systems Inc. 
and streaming company Roku Inc. 
have also announced job cuts recently. Software giant Microsoft Corp.
 announced job cuts in July, in addition to the 10,000 cuts the company announced earlier this year. Related: Cisco to cut 350 jobs in latest round of layoffs In June, Niantic Inc., the company that created the popular “Pokemon Go” game, announced 230 layoffs. Also in June, the Wall Street Journal reported that stock-trading app Robinhood Markets Inc. 
was laying off around 7% of its full-time staff, or about 150 people. “We’re ensuring operational excellence in how we work together on an ongoing basis,” a Robinhood spokesperson told MarketWatch. “In some cases, this may mean teams make changes based on volume, workload, org design and more.” And in early June, Spotify Technology SA
announced plans to lay off approximately 200 people, or 2% of the company’s workforce.  Related: Roku plans to lay off 10% of staff, boosts revenue outlook A host of other tech companies, including Facebook parent Meta Platforms Inc.
 Amazon.com Inc. 
 Microsoft-owned LinkedIn, Electronic Arts Inc. 
 Palantir Technologies Inc. 
 Twilio Inc. 
DocuSign Inc. 
Salesforce Inc. 

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