Tech Layoffs Job Losses in 2023: They Continue

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Tech Job Losses in 2023: They Continue :;

There will be thousands more job cuts before the wave of tech layoffs from late 2022 crests. For instance, according to CNN, Zoom announced it would let go of 1,300 workers, or around 15% of its workforce. In the past few weeks, a number of major tech companies have also disclosed significant layoffs. The announcements of tech layoffs for 2023 are listed here.

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In 2023, the pace of tech layoffs won't be slowing down.

According to CNN, Dell reported a 5% decrease in its payroll immediately before Zoom announced a round of job cutbacks. Nonetheless, 5% of Dell's staff, or around 6,500 workers, make up the company. Also, there has been a sharp decline in the market for desktop computers recently, with graphics card sales reaching a two-decade low. A business consulting group called Gartner claims that in Q4 2022, global PC sales decreased by around 30% on a year over year basis.

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The Financial Times claims that Meta is planning for a second round of job layoffs elsewhere in the tech industry. With the loss of 11,000 positions, the social media juggernaut launched the recent spate of tech layoffs in November. TechCrunch predicts that the releases will happen sometime in March. The precise amount of possible cuts, though, remains unknown.

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According to CNBC, eBay also disclosed a round of layoffs on February 7 alongside Zoom. The e-commerce behemoth disclosed 500 staff layoffs, or nearly 4% of its workforce, in an SEC filing. According to Forbes, GitHub, a Microsoft company, announced a 10% employee decrease, or around 300 jobs, the next day. The business will also carry on with all of its operations remotely.

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The US Department of Labor published a much stronger-than-anticipated jobs report in January despite the recent wave of major layoffs. Around 500,000 jobs were created in the American economy during the month, and the unemployment rate dropped to 3.4%, the lowest level since 1969. The National Security Agency also disclosed a "extraordinary hiring campaign" that would create 3,000 new tech roles.

Tech Layoffs Job Losses in 2023: They Continue

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