Unfortunately - looks like it's going to get worse before it gets better. We are not in the vibrant business environment where innovation from the small to mid caps can thrive and prosper.
Tech spend is still on the decline and this affects Appen.
Last year’s techwide reckoning continues. The tech industry has seen more than 240,000 jobs lost in 2023, a total that’s already 50% higher than last year and growing. Earlier this year, mass workforce reductions were driven by the biggest names in tech like Google, Amazon, Microsoft, Yahoo, Meta and Zoom. Startups across many sectors also announced cutbacks through the first half of the year. And while tech layoffs slowed down in the summer and fall, it appears that cuts are ramping up yet again.
Many economists have cautioned against fears of a recession, which would seem like a reason for optimism. But the momentum for a tech sector rebound has been slow to build, resulting in tech companies continuing to cut back on their workforces and pivot from a growth mindset to one based on efficiency in the face of stubborn market conditions.
But tracking these layoffs helps us to understand the impact on innovation, which companies are facing tough pressures and who is available to hire for the businesses lucky to be growing right now. Unfortunately, it also serves as a reminder of the deeply human impact of layoffs and how risk profiles could evolve from here.
Below you’ll find a comprehensive list of all the known layoffs in tech that have occurred in 2023, to be updated monthly. If you have a tip on a layoff, contact us here. If you prefer to remain anonymous, you can contact us here.
The running total of layoffs for 2023 based on full months to date is 224,503, according to Layoffs.fyi. Tech layoffs conducted to date this year currently exceed the total number of tech layoffs in 2022, according to the data in the tracker.
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