More than 218,000 people worldwide have lost tech jobs this year
More than 218,000 global technology-sector employees have been laid off since the start of 2023, according to data compiled by the website Layoffs.fyi.The data show that 2023 has easily surpassed 2022 for global tech redundancies, with 860 tech companies laying off 218,115 employees since the start of the year. Last year, 1,024 tech companies laid off a total of 154,336 employees, according to Layoffs.fyi.Software giant Microsoft Corp. MSFT, +1.
Last month, Niantic Inc., the company that created the popular “Pokemon Go” game, announced 230 layoffs.At the end of June, the Wall Street Journal reported that stock-trading app Robinhood Markets Inc. HOOD, -0.68% was laying off around 7% of its full-time staff, or about 150 people. “We’re ensuring operational excellence in how we work together on an ongoing basis,” a Robinhood spokesperson told MarketWatch.
And in early June, Spotify Technology SA SPOT, +2.94% announced plans to lay off approximately 200 people, or 2% of the company’s workforce.Chinese tech giant Alibaba Group Holding Ltd.’s BABA, -2.06% cloud unit also started the process of cutting 7% of staff, Barron’s reported in late May, citing a source familiar with the matter. News of the job cuts was first reported by Bloomberg.
Other big-name tech companies have also been making cuts. In early May, Microsoft-owned LinkedIn announced plans to cut its workforce by more than 700 employees. The company was also getting rid of its local jobs app in China.
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