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Kuration #211 2023 tech layoffs
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The article from TechCrunch, written by Alyssa Stringer, provides a comprehensive list of layoffs in the tech industry throughout 2023. The tech sector has witnessed over 240,000 job losses in 2023, a 50% increase compared to the previous year. Major tech companies like Google, Amazon, Microsoft, Yahoo, Meta, and Zoom initiated mass workforce reductions earlier in the year, with startups across various sectors following suit. Despite a slowdown in layoffs during summer and fall, recent trends indicate an increase in job cuts.
Economists have downplayed fears of a recession, but the tech sector's recovery has been sluggish, leading to continued workforce reductions and a shift from growth to efficiency due to challenging market conditions. The article emphasizes the importance of tracking these layoffs to understand their impact on innovation, identify companies under pressure, and recognize opportunities for hiring in growing businesses. It also highlights the human aspect of layoffs and potential changes in risk profiles.
The article includes a month-by-month breakdown of layoffs in 2023, with a running total of 224,503 layoffs based on full months to date, according to Layoffs.fyi. This figure surpasses the total number of tech layoffs in 2022. The article details layoffs by various companies, including Pico, Cruise, Snap, Amazon, Google, Virgin Galactic, Ubisoft Montreal, Nextdoor, Beyond Meat, Ava Labs, OpenSea, Starz, Faire, Niu, 100 Thieves, OpenSpace, Informatica, Splunk, and many others.
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