Data compiled by Layoffs.fyi reveals that a staggering number of tech-sector employees, totaling more than 240,000, have been laid off since the beginning of this year. In comparison, last year saw approximately 154,336 employees affected by layoffs from 1,024 tech companies.
Qualcomm Inc. to Reduce Workforce by 2.5%
Joining the list of companies implementing layoffs is Qualcomm Inc., which recently disclosed plans to reduce its workforce by approximately 2.5% in December. The majority of these cuts will be concentrated in California, as stated in filings submitted to the California Employment Development Department.
Epic Games Inc. Implements Layoffs
Epic Games Inc., the publisher behind the immensely popular game “Fortnite,” also made the decision to lay off around 16% of its workforce, equating to 830 employees. Notably, a significant portion of these layoffs affected teams outside of core development.
Additional Companies Implement Job Cuts
In recent times, other notable companies such as Cisco Systems Inc. and Roku Inc. have also announced job cuts. Furthermore, Microsoft Corp. had previously announced job cuts earlier this year and followed up with additional reductions in July. Meanwhile, Niantic Inc., the creator of the beloved game “Pokemon Go,” confirmed 230 layoffs in June.
The tech sector’s continuous wave of layoffs emphasizes the industry’s ever-changing landscape and the challenges faced by companies amid various market conditions.
Tech Companies Announce Job Cuts in 2023
In June, there were several reports of major tech companies announcing layoffs and job cuts. Among these companies were Robinhood Markets Inc., Spotify Technology SA, Roku, Meta Platforms Inc., Amazon.com Inc., LinkedIn, Electronic Arts Inc., Palantir Technologies Inc., Twilio Inc., DocuSign Inc., Salesforce Inc., SAP, Zoom Video Communications Inc., eBay Inc., Dell Technologies Inc., PayPal Holdings Inc., International Business Machines Corp., Intel Corp., and Google parent Alphabet Inc.
Robinhood Markets Inc.
Spotify Technology SA
Other Tech Companies
Numerous other tech giants have also made announcements about job cuts in 2023. These companies include Meta Platforms Inc., Amazon.com Inc., LinkedIn, Electronic Arts Inc., Palantir Technologies Inc., Twilio Inc., DocuSign Inc., Salesforce Inc., SAP, Zoom Video Communications Inc., eBay Inc., Dell Technologies Inc., PayPal Holdings Inc., International Business Machines Corp., Intel Corp., and Google parent Alphabet Inc. However, specific details about the number of employees affected or the reasons for the layoffs were not provided.
It seems that the tech industry is experiencing some significant changes and restructuring, with these job cuts being a notable trend in 2023.
