More than 193,000 tech-sector employees have lost their jobs since the start of 2023
By James Rogers
LinkedIn is the latest tech company to announce layoffs
More than 193,000 global technology-sector employees have been laid off since the start of 2023, according to data compiled by the website Layoffs.fyi.
The website's tally of 2023 global tech layoffs has gone up more than sevenfold since mid-January.
The data show that 2023 has surpassed 2022 for global tech redundancies, with 668 tech companies laying off 193,038 employees since the start of the year. Last year, 1,024 tech companies laid off a total of 154,336 employees, according to Layoffs.fyi.
Related: LinkedIn to lay off 700 workers and shut down its China app
On Monday, Microsoft Corp. (MSFT)-owned LinkedIn announced plans to cut its workforce by more than 700 employees. The company is alsogetting rid of its local jobs app in China. "As we guide LinkedIn through this rapidly changing landscape, we are making changes to our Global Business Organization (GBO) and our China strategy that will result in a reduction of roles for 716 employees," LinkedIn CEO Ryan Roslansky wrote in an email to the company's employees that was also posted on the company's website.
"We'll focus our China strategy on assisting companies operating in China to hire, market, and train abroad," he added. "This will involve maintaining our Talent, Marketing, and Learning businesses, while phasing out InCareer, our local jobs app in China, by August 9, 2023."
The CEO explained that, while InCareer has experienced some success in China, it "also encountered fierce competition and a challenging macroeconomic climate."
Related: Meta set for next round of layoffs
LinkedIn has more than 19,000 employees, according to its website.
Other big-name tech companies have also been making cuts. Facebook parent Meta Platforms Inc. (META) began another round of layoffs in April, cutting technical positions, according to LinkedIn posts. Meta is in the midst of cutting 21,000 jobs.
"So far we've gone through two of the three waves of restructuring and layoffs that we had planned for this year -- in our recruiting and technical groups," Meta CEO Mark Zuckerberg said during a conference call to discuss the company's first-quarter results on April 26. "In May we're going to carry out our third wave across our business groups."
Related: Meta begins cutting technical jobs in latest round of layoffs
Zuckerberg has previously described 2023 as a "year of efficiency" for the company.
Amazon.com Inc. AMZN conducted layoffs in Amazon Web Services and in its human-resources department, the company said in late April.
And in March, Electronic Arts Inc. (EA) announced its intention to slash 6% of its workforce as the videogame publisher looks to cut costs. Streaming-media company Roku Inc. (ROKU) also disclosed that it would lay off 200 employees as part of a cost-cutting plan.
Related: Tech layoffs roll on as Meta and Amazon make cuts
A host of tech companies, including Amazon.com Inc., Palantir Technologies Inc. (PLTR), Twilio Inc. (TWLO), DocuSign Inc. (DOCU), Salesforce Inc. (CRM), SAP (SAP.XE), Zoom Video Communications Inc. (ZM), eBay Inc. (EBAY), Dell Technologies Inc. (DELL), PayPal Holdings Inc. (PYPL), International Business Machines Corp. (IBM), Intel Corp. (INTC), Microsoft Corp. (MSFT), Spotify Technology (SPOT) and Google parent Alphabet Inc. (GOOGL)(GOOGL), have also announced job cuts in 2023.
Since Elon Musk took control of Twitter last year, the San Francisco-based company has also made significant layoffs. In March, Musk described laying off almost 6,500 people, or 80% of the company's workforce, as "painful" and "one of the hardest things" he has had to do. Twitter's headcount now stands at 1,500 people, according to Musk.
Additional reporting by Jon Swartz and Anviksha Patel.
-James Rogers
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May 11, 2023 13:09 ET (17:09 GMT)
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