: More than 210,000 global tech employees have lost their jobs since the start of 2023
More than 210,000 global technology-sector employees have been laid off since the start of 2023, according to data compiled by the website Layoffs.fyi.
That number has gone up more than eightfold since mid-January, the website noted.
The data show that 2023 has easily surpassed 2022 for global tech redundancies, with 798 tech companies laying off 210,721 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.
On Monday the Wall Street Journal reported that stock-trading app Robinhood Markets Inc. HOOD is 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. “In some cases, this may mean teams make changes based on volume, workload, org design and more.”
Last week Insider reported that Oracle Corp. ORCL has laid off hundreds of employees, cut back open positions and rescinded job offers at its health unit. MarketWatch has reached out to Oracle with a request for comment on this story.
Chinese tech giant Alibaba Group Holding Ltd.’s BABA cloud unit also started cutting 7% of staff, Barron’s reported last month, citing a source familiar with the matter. News of the job cuts was first reported by Bloomberg.
Facebook parent Meta Platforms Inc. META also had its latest round of layoffs in late May, according to reports, marking the tech giant’s third round of cuts this year. Meta declined to comment in response to a request from MarketWatch for confirmation of the latest layoffs. The company’s second round of layoffs in April cut technical positions, according to LinkedIn posts. Meta is in the midst of cutting 21,000 jobs in 2023 as part of what CEO Mark Zuckerberg has described as a “year of efficiency” for the company.
Other big-name tech companies have also been making cuts. In early May, Microsoft Corp. MSFT -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. “As we guide LinkedIn through this rapidly changing landscape, we are making changes to our Global Business Organization (GBO) and our China strategy that will result in a reduction of roles for 716 employees,” LinkedIn CEO Ryan Roslansky wrote in a May 8 email to the company’s employees that was also posted on the company’s website.
LinkedIn has more than 20,000 employees, according to its website.
And in March, Electronic Arts Inc. EA announced its intention to slash 6% of its workforce as the videogame publisher looks to cut costs. Streaming-media company Roku Inc. also disclosed that it would lay off 200 employees as part of a cost-cutting plan.
A host of tech companies, including Palantir Technologies Inc. PLTR, Twilio Inc. TWLO, DocuSign Inc. DOCU, Salesforce Inc. CRM, SAP SAP, Zoom Video Communications Inc. ZM, eBay Inc. EBAY, Dell Technologies Inc. DELL, PayPal Holdings Inc. PYPL, International Business Machines Corp. IBM, Intel Corp. INTC, Microsoft Corp. MSFT, and Google parent Alphabet Inc. GOOG GOOGL, have also announced job cuts in 2023.
Since Elon Musk took control of Twitter last year, the San Francisco-based company has also made significant layoffs. In March, Musk described laying off almost 6,500 people, or 80% of the company’s workforce, as “painful” and “one of the hardest things” he has had to do.
Additional reporting by Bill Peters, Emily Bary, Jon Swartz and Anviksha Patel.