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Tech Sector – Staff layoffs

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Tech Sector – Staff layoffs

In the early 2000s, an estimated 415,000 tech jobs were lost, following the bursting of the so-called, ‘dot-com bubble’ since when the sector has been growing rapidly and producing excellent results for its investors. This has now changed and Job losses in the tech industry have increased dramatically over the past few months. According to job market, specialists ‘Challenger Grey & Christmas’ tech jobs losses in 2022 were up 649%. As of January 2023, some of the largest layoffs from big tech companies include Amazon, which leads the field with job losses of 18,000, Google with 12,000, Meta with 11,000, and Microsoft with 10,000. Of the top 10 tech companies’ staff reductions amount to a total of approximately 80,000.

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