News of the Cyber World

[kyonides]

Tech Layoffs in 2023 Near 150,000-Mark
as Amazon, Facebook Shed Thousands More Employees

The e-commerce and streaming giant Amazon announced layoffs of 9,000 employees on Monday. Meta, which owns Facebook and Instagram, announced 10,000 job cuts a week earlier, on March 14.

As of Tuesday, 505 companies across the tech industry had cut 148,180 employees from their payroll in 2023, according to data compiled by Layoffs.fyi. Of U.S. tech companies, 324 accounted for 109,366 job losses.

Around this time last month, total tech industry layoffs for 2023 had hit 109,000 jobs, including 84,262 across about 250 companies in the United States.

At the current pace, tech industry job losses in 2023 are set to soon surpass the 160,997 jobs the industry lost in 2022. If the trends continue, tech industry job losses in 2023 could surpass the losses in 2022 by around 300 percent.
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By Feb. 25, Twitter reportedly initiated another round of layoffs, with plans to cut at least 200 more employees.
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The U.S. National Security Agency (NSA) may alleviate some of the losses. On Jan. 24, the military intelligence agency announced it “is undertaking one of its largest hiring surges in 30 years with openings for over 3,000 new employees,” including openings for computer science, cybersecurity, math, data science, intelligence analysis, language analysis, communications, business, and accounting, with entry-, mid-, and senior-level positions.