18 January 2024

2023 & 2024 Tech Layoffs: A Comprehensive Overview

The tech industry has faced over 240,000 job cuts in 2023 with major layoffs from tech giants and startups alike.

Featured Article: A comprehensive list of 2023 & 2024 tech layoffs

From major layoffs at Google, Amazon, and Microsoft to small fintech startups and apps, the tech industry has experienced significant workforce reductions. Last year saw over 240,000 jobs cut, a number that is 50% higher than the previous year and still increasing. While significant layoffs earlier in the year involved major tech companies, startups across various sectors have also been impacted.

Understanding the Impact

Economists have cautioned against recession fears, suggesting room for optimism. However, tech sector gains are slow, with companies still downsizing and shifting focus from growth to efficiency due to market pressures. Monitoring these job cuts is crucial for gauging the impact on innovation and understanding which companies are under stress and the opportunities for those expanding their workforce.

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