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Infographic – U.S. Tech Layoffs This Year

Chart: Technology company layoffs

Click on image for full-size view (Statista)

5 Nov. 2022. Twitter and Elon Musk are making headlines this week, culminating with the announcement yesterday that Twitter is letting go half of its staff. But layoffs by U.S. technology companies are becoming more common, particularly in the second half of this year, as displayed yesterday by business research company Statista.

The web site tracks job terminations in the U.S. technology industry, which provides the data for Statista’s chart. Starting in the second quarter of 2022, tech layoffs began climbing, with Netflix terminating many of its staff in April, May, and June. So far this year, tech layoffs peaked in the summer months, with financial technologies and cryptocurrency and blockchain companies shedding workers. A notable addition in October is Beyond Meat, a developer of alternative meat products from plant proteins, suggesting a cooling-off of demand for those products.

Many of the companies on the list offer consumer or financial technologies more sensitive to changes in the overall economy. Noticeably absent from the list are the larger technology companies providing backbone services for more advanced technologies such as artificial intelligence and cloud or edge computing: Microsoft, Amazon, Alphabet/Google, and Apple.

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