More than 203,000 global tech employees have lost their jobs since the start of 2023
By James Rogers
Last year tech companies laid off a total of 154,336 employees, according to Layoffs.fyi.
More than 203,000 global technology-sector employees have been laid off since the start of 2023, according to data compiled by the website Layoffs.fyi.
That number has gone up almost eightfold since mid-January, the website noted.
The data show that 2023 has surpassed 2022 for global tech redundancies, with 754 tech companies laying off 203,833 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: Spotify will layoff 200 employees as it shakes up podcast strategy
This week Spotify Technology SA (SPOT)announced plans to lay off approximately 200 people, or 2% of the company's workforce.
In a post, Sahar Elhabashi, head of Spotify's Podcast Business, said that the company was expanding its partnership efforts with leading podcasters from across the globe with "a tailored approach" optimized for each show and creator. "This fundamental pivot from a more uniform proposition will allow us to support the creator community better," she added. "However, doing so requires adapting; over the past few months, our senior leadership team has worked closely with HR to determine the optimal organization for this next chapter."
Chinese tech giant Alibaba Group Holding Ltd.'s (9988.HK) cloud unit also started cutting 7% of staff, Barron's reported last month, citing a source familiar with the matter. News of the job cuts was first reported by Bloomberg.
Now read: Meta begins third round of layoffs: reports
Facebook parent Meta Platforms Inc. (META) also had its latest round of layoffs in late May, according to reports, marking the tech giant's third round of cuts this year. Meta declined to comment in response to a request from MarketWatch for confirmation of the latest layoffs. The company's second round of layoffs in April cut technical positions, according to LinkedIn posts. Meta is in the midst of cutting 21,000 jobs in 2023 as part of what CEO Mark Zuckerberg has described as a "year of efficiency" for the company.
"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," Zuckerberg said during an April 26 conference call to discuss the company's first-quarter results.
Related: Meta set for next round of layoffs
Other big-name tech companies have also been making cuts. In early May, Microsoft Corp. (MSFT)-owned LinkedIn announced plans to cut its workforce by more than 700 employees. The company was also getting 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 a May 8 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: LinkedIn to lay off 700 workers and shut down its China app
LinkedIn has more than 20,000 employees, according to its website.
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 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. , 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 Emily Bary, Jon Swartz and Anviksha Patel.
-James Rogers
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June 09, 2023 15:55 ET (19:55 GMT)
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