Tracking the Big Tech layoffs in 2023

During the epidemic, big tech businesses hired at historic rates, driving tech salaries up. These large technology corporations have laid off more than 150,000 workers in recent months as the world struggles with recession and hopes for a quick economic recovery.

Between 2022 and 2023, layoffs. fyi recorded around 2.5 lakh IT layoffs.
As a way to deal with the economic crisis, more and more tech companies announce their plans to lay off workers every year. This targets a large portion of the big four IT company employees and those who have followed these practices.

Tech companies are firing workers for many reasons, including the recession. • Reversing post-pandemic recruiting policies
Cost reductions during the global recession. AI and automation are replacing talent.

This graphic shows which top IT corporations have declared layoffs in 2023:


source: CTO.com

What do you think about this approach by the tech companies to reduce their costs? Personally, I believe that the employees who are laid off suffer the consequences of the company's overhiring, which is a bad situation for the employees.