Home Business Tech firms & startups sack about 2.5 lakh employees so far in 2023

Tech firms & startups sack about 2.5 lakh employees so far in 2023

Tech firms & startups sack about 2.5 lakh employees so far in 2023

Nearly 2.5 lakh employees have been laid off so far this year in the global technology and startup sector, as the tech layoffs continue unabated for the past two years. Nearly 1,106 tech companies have sacked 248,974 employees (till November 11), according to data compiled by the website Layoffs.fyi.

Last year, 1,024 tech companies laid off a total of 154,336 employees.

Citing the global macroeconomic conditions, Big Tech firms and startups across the spectrum have fired employees.

On average, about 555 employees lost their jobs every day in the last two years – or 23 workers every hour.

In January alone, 89,554 employees were laid off.

In terms of sector, retail tech and consumer tech were the ones which laid off the most employees in this year.

As 2023 is not over yet, more layoffs are set to happen in the remaining period.

Several tech and gaming companies laid off employee this month.

French video game company Ubisoft, which published popular franchises like Assassin’s Creed and Far Cry, has laid off about 124 employees as part of a corporate restructuring and reorganisation effort.

Game development software company Unity has announced that it will “likely” go for layoffs as part of cost-saving measures.

Snap, the parent company of Snapchat, has laid off nearly 20 employees who held product management titles as part of a restructuring aimed at streamlining the social messaging company.

US-based F5, a global leader in multi-cloud application security and delivery, reportedly laid off 120 employees this month.

Global communications company Viasat is laying off 800 employees, about 10 per cent of its workforce, and the impact will spread across the business in terms of geographies and divisions.

US-based cybersecurity company Splunk has announced to lay off about 7 per cent of its global workforce, just months ahead of its acquisition by global networking giant Cisco.