Infographic – Tech Layoffs Decline This Year

Click on image for full-size view (Layoffs.fyi)

17 June 2023. Employment in the technology industry is becoming more stable as layoffs by tech companies overall have steadily declined since the start of 2023. The web site Layoffs.fyi that tracks employment trends in the tech industry provides the data, which also show considerable variation among business sectors in the tech industry.

According to Layoffs.fyi, both the number of tech companies letting go workers and numbers of workers laid off peaked in Jan. 2023, with 273 enterprises laying off more than 89,500 of their employees. Since then, both the numbers of companies releasing workers and the numbers of staff laid off fell each month. By May 2023, the last full month of data, 93 companies let go some 14,600 employees, and so far this month, 51 companies released 4,774 staff.

Of the business sectors within the tech industry, retail and consumer companies lead the number of staff layoffs with more than 27,000 in each of those sectors so far in 2023, eclipsing the roughly 20,000 each in 2022. But tech hardware companies are particularly affected this year, with 21,700 layoffs so far in 2023 compared to only 3,600 in all of 2022. Health care tech companies, a sector covered regularly in Science & Enterprise, have laid off nearly 16,000 workers this year, already more than the 15,000 laid off in 2022.

More from Science & Enterprise:

• Infographic – Top A.I. Work Impact Expected in Financial Services
• Infographic – Major A.I. Work Impact Expected
• Infographic – Tech Layoffs Jump This Year

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