The Tech Industry Is Getting Slaughtered. Layoffs Increasing.

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Tech companies have recently cut 400K+ jobs..





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US Tech Layoffs Soar 716% in 2023: Report

The technology sector is leading the US job market in layoffs, but the cuts are slowing down, a new report shows.

At a Glance

  • US total job losses spiked in 2023, with the tech sector leading the cuts.
  • Layoffs due to AI have not increased since first reported earlier this year.
  • Pace of cuts is slowing down, but so is the pace of hiring.

A report released Tuesday shows US technology layoffs reached 151,989 in 2023, a 716% increase compared to the same period a year ago.

Survey results from outsourcing firm Challenger, Gray & Christmas show the technology sector leading job cuts across industries, which have in total shed 604,514 jobs so far in 2023, a 198% increase from the same period in 2022.

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But the number of job cuts has been falling steadily over the summer, the firm says, with 2,537 cuts in September, the lowest number since June 2022. The 2023 tech layoffs are the second worst totals on record. In 2001, 168,395 cuts were announced in the sector.




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