Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now

Tech Sector Layoffs Top 239,000 Worldwide in 2023


More than 239,000 employees in the global technology sector have been laid off since the beginning of this year, according to data compiled by The data reveals that a total of 1,043 tech companies have made layoffs, resulting in 239,603 job cuts so far in 2023. Comparatively, last year saw 1,024 tech companies laying off a total of 154,336 employees.

Recent Layoffs

The latest layoffs in the tech industry come from Jabil Inc., an electronics manufacturer, who announced “headcount reductions” without specifying the exact number of positions that will be cut.

In the past month, Epic Games Inc., the parent company of popular game “Fortnite,” announced a workforce reduction of 16%, affecting 830 employees. The majority of these layoffs were in teams unrelated to core development.

Other notable companies that have recently announced job cuts include Cisco Systems Inc., Roku Inc., and Microsoft Corp. Cisco will be cutting 350 jobs in its latest round of layoffs, while Roku and Microsoft have also made significant job cuts this year.

In June, Niantic Inc., the company behind the widely popular game “Pokemon Go,” made headlines when it announced 230 layoffs.

These layoffs indicate an ongoing trend of staff reductions within the tech sector as companies reassess their operational strategies and business plans.

Tech Companies Make Workforce Reductions

In June, several prominent technology companies announced plans to lay off employees as they navigate changes in their operations and organizational structures.

Robinhood Markets Inc. and Spotify Technology SA

Robinhood Markets Inc., the stock-trading app, reportedly laid off approximately 7% of its full-time staff, amounting to about 150 individuals. A spokesperson for Robinhood emphasized the company’s focus on operational excellence and highlighted the need for adjustments based on factors such as volume, workload, and organizational design.

Similarly, Spotify Technology SA revealed its intention to reduce its workforce by about 2%, impacting roughly 200 employees.

Other Affected Tech Giants

Numerous other tech giants also experienced job cuts in 2023. These include Meta Platforms Inc., the parent company of Facebook, as well as Inc., LinkedIn (owned by Microsoft), Electronic Arts Inc., Palantir Technologies Inc., Twilio Inc., DocuSign Inc., Salesforce Inc., SAP, Zoom Video Communications Inc., eBay Inc., Dell Technologies Inc., PayPal Holdings Inc., International Business Machines Corp., Intel Corp., and Google parent Alphabet Inc.

It is clear that significant changes are taking place within these companies, leading to necessary staff reductions and restructuring efforts.

Claudia Assis contributed to this report.

Cloud Computing Giants Under Antitrust Scrutiny

Previous article

U.K. Stocks Show Positive Gains

Next article

You may also like


Leave a reply

Your email address will not be published.

More in News