Infographic – U.S. Tech Layoffs This Year

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 Layoffs.fyi 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 Layoffs.fyi 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.

More from Science & Enterprise:

• Exec. Order Aims to Boost U.S. Biotech, Manufacturing
• Infographic – US Workers Returning to Work
• Infographic – AI Help Wanted by Workers

We designed Science & Enterprise for busy readers including investors, researchers, entrepreneurs, and students. Except for a narrow cookies and privacy strip for first-time visitors, we have no pop-ups blocking the entire page, nor distracting animated GIF graphics. If you want to subscribe for daily email alerts, you can do that here, or find the link in the upper left-hand corner of the desktop page. The site is free, with no paywall. But, of course, donations are gratefully accepted.

*     *     *