More Tech Layoffs in the Winters, as Per the Reports

By Garvit Vyas , 13 March, 2023

Being in the better parts of the last 12 months many tech stocks and companies have been in a tailspin. This is the main factor behind the reduction in the workforces of numerous start-ups and companies in the tech sector after the pandemic years.

Meta, twitter and amazon saw mass lay-offs where amazon tops the list with 18,000 lay off employees globally. Again, in January 2023, Microsoft announced of reducing its workforce by about ten thousand. Then alphabet also announced 12,000 jobs cut off. According to the reports, winter months have seen a greater number of heavy lay offs at the start ups and the tech companies.

Again, as per the data, in November 2022, more than 50, 000 techies were laid off in global scenario. Amazon let go of 10,000 workers and Meta laid off 11,000 employees. Again, Salesforce fired another 1,000 employees after previous waves of layoffs. In the fintech sector, Crypto companies are among the worst hit in the fintech sector.

According to the survey, since the beginning of the year, around 120,000 employees have been fired at the tech related companies. This is around 75 percent of the tech in 2022. The companies like Dell, PayPal, IBM, Yahoo and Zoom parted ways with 1300-6500 employees each. Again, 283,000 people laid off between January 1, 2022 to march 2, 2023. This counts for 68 percent of the them in the United States.

Tech Employees Layoff

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Garvit Vyas

Analyst