Tech sector redundancies reach 210,000
It’s been reported that since 2022 technology companies have reported over 210,000 job layoffs. With 55,000 in January 2023 alone.
The latest companies to announce redundancies plans are Google, Microsoft and Spotify.
Google announced that 6% of its workforce will be let go. As well as redundancies at Microsoft with a 5% reduction in total staff and 600 jobs to be cut at Spotify.
These tech giants were not the only companies to announce layoffs recently. WeWork, Amazon and Salesforce are joining the trend that is predicted to continue throughout 2023.
This month, January has been reported to have the second-highest number of layoffs in a month since Q3 2020. That’s without the month even closing.
During the pandemic, many tech companies overhired when worldwide online activity hit an all-time high.
Reports from layoffs.fyi have stated a total of 40,474 tech jobs were cut in January 2023 from 151 different companies.
This doesn’t even include the 12,000 that Google announced just a few days ago.