The Blubber

Per LayoffFYI

Data on Layoffs.fyi showed that tech layoffs in 2023 have surpassed 2022 numbers. As of press time, 2022 had a total of 164,441 layoffs, but now, 2023 saw 167,004 layoffs in the first four months of the year.

Another interesting comparison was that the 2022 layoffs were stretched across 1,054 tech companies. However, in 2023, the layoffs only came from 554 tech companies, almost half its previous number.

Here are the top ten companies that laid off tech workers.

• Google -laid off 12,000 tech employees on 20/1/23
• Meta - laid off 11,000 tech employees on 9/11/22 and 10,000 tech employees on 14/3/23
• Amazon - laid off 10,000 tech employees on 16/11/22, 8,000 tech employees on 4/1/23, and 9,000 tech employees on 20/3/2023
• Microsoft - laid off 10,000 tech employees on 18/1/23
• Ericsson - laid off 8,500 tech employees on 24/2/23
• Salesforce - laid off 8,000 tech employees on 4/1/23
• Dell - laid off 6,670 tech employees on 6/2/23
• Philips - laid off 6,000 tech employees on 30/1/23
• Micron - laid off 4,800 tech employees on 1/1/23
• Booking.com - laid off 4,375 tech employees on 30/7/20

The time when most companies laid off tech employees was during January 2023, with most of the 2022 layoffs being in retail, with consumer, transportation, healthcare, and finance industries following.

Companies are reportedly using the widespread layoffs to decrease new-hire salaries and win back the power they had before the pandemic. An anonymous user told BI that companies take weeks and months to fill roles with the cheapest hire possible.

In November, while companies started their layoffs, Goldman Sachs said during that time that this wasn't a sign of an "impending recession."

See flow at unusualwhales.com/flow.

Other News:

• Companies are using layoffs to cut new-hire salaries and win back the power they held before the pandemic
• Goldman Sachs Says 'Tech Layoffs Are Not a Sign of an Impending Recession

Resources:

Layoffs.FYI