According to Trueup.io data, which tracks tech layoffs, so far in 2023, there have been 534 layoffs at tech companies with 153,005 people impacted (2,732 people per day).
Swedish multinational company Ericsson has decided to trim 1,400 jobs in Sweden with larger headcount loss in other countries. Not too long ago, big tech companies were hiring at an alarming rate during the pandemic, expecting greater demand for their tech offering. But in retrospect, that decision has backfired, given the massive layoffs in the past few months.