Tech Industry Experiences Over 240,000 Job Losses in 2023 as Companies Pivot to Efficiency

The tech industry has seen a significant increase in job losses in 2023, with over 240,000 job cuts, which is 50% higher than last year. Major tech companies such as Google, Amazon, Microsoft, Yahoo, Meta, and Zoom have been responsible for the majority of the layoffs. While there was a slowdown in tech layoffs during the summer and fall, they seem to be increasing again. Layoffs.fyi reports that the total number of tech layoffs in 2023 has already surpassed the total number of tech layoffs in 2022.