More than 123,000 tech-sector employees have lost their jobs since the start of 2023
More than 123,000 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 fivefold since mid-January.
Related: Palantir joins growing list of tech companies announcing layoffs
The data suggest that 2023 is firmly on pace to surpass 2022 for global tech redundancies, with 454 tech companies laying off 123,882 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.
In late February, citing three people familiar with the matter, the New York Times reported that Twitter laid off another 200 employees, equal to about 10% of the roughly 2,000 people still working at the company. MarketWatch has reached out to Twitter with a request for comment.
Now read: Snowflake plans to hire 1,000-plus workers this year as other tech companies cut
A host of tech companies, including Palantir Technologies Inc.
Zoom Video Communications Inc.
Dell Technologies Inc.
PayPal Holdings Inc.
International Business Machines Corp.
and Google parent Alphabet Inc.
have announced job cuts in 2023.
In a blog post in January, Alphabet and Google CEO Sundar Pichai described the layoffs as “a difficult decision to set us up for the future.”
Related: Marc Benioff reminds Wall Street that ‘this isn’t my first recession,’ saying Salesforce’s activists ‘made a lot of money today’
Alphabet expanded to meet demand during the pandemic era but was later confronted with a different economic situation, Pichai said. “Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today.”
Additional reporting by Ciara Linnane.
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