![]() ![]() Layoffs in the technology sector started with the COVID-19 pandemic in 2020 when entire cities were in lockdown and mobility was restricted. Most job losses happened in the United States, where tech giants like Amazon, Meta, and Google are based. However, retail tech startups were hit the most, with almost 29 thousand layoffs announced as of September 2023. From retail to finance and education, all sectors are suffering from this widespread downsizing. In the first quarter of 2023 alone, more than 167 thousand employees had been fired worldwide, a record number of job cuts in a single quarter and more than all of the layoffs announced in 2022 combined, marking a harsh start to of 2023 for the tech sector. Overall, layoffs across all industries began in 2020 due to the outbreak of the coronavirus (COVID-19) pandemic, with tech layoffs increasing in 2022. It was followed by Meta and Google with around 21 thousand and 12 thousand job cuts announced respectively. Biggest tech layoffs worldwide 2020-2023, by companyĪs of January 2024, the tech startup with the most layoffs was Amazon, with over 27 thousand layoffs, across five separate rounds of layoffs. ![]()
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