More than 138,000 tech-sector employees have lost their jobs since the start of 2023

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More than 138,000 tech-sector employees have lost their jobs since the start of 2023
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2023 is on pace to surpass 2022 for global tech redundancies, with tech companies laying off more than 138,000 employees so far, according to data from...

More than 138,000 global technology-sector employees have been laid off since the start of 2023, according to data compiled by the website Layoffs.fyi.The data suggest that 2023 is firmly on pace to surpass 2022 for global tech redundancies,... More than 138,000 global technology-sector employees have been laid off since the start of 2023, according to data compiled by the website Layoffs.fyi.

“With less hiring, I’ve made the difficult decision to further reduce the size of our recruiting team,” Meta Chief Executive Mark Zuckerberg wrote in a blog post on March 14. “We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May.”

Zuckerberg added: “Overall, we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven’t yet hired.”In November, Meta announced that it would cut 11,000 employees, or about 13% of its workforce, in the first layoffs in the company’s 18-year history.

A host of tech companies, including Palantir Technologies Inc. PLTR , Twilio Inc. TWLO , DocuSign Inc. DOCU , Salesforce Inc. CRM , SAP SAP , Zoom Video Communications Inc. ZM , eBay Inc. EBAY , Dell Technologies Inc. DELL , PayPal Holdings Inc. PYPL , International Business Machines Corp. IBM , Intel Corp. INTC , Microsoft Corp. MSFT , Spotify Technology SPOT and Google parent Alphabet Inc. GOOG GOOGL have announced job cuts in 2023.

In late February, citing three people familiar with the matter, the New York Times reported that Twitter had 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.

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