There have been increasing job cuts since 2023 which have continued into 2024. In 2023, over 240,000 jobs were lost, which was a 50% increase from the previous year. Despite some earlier slowdowns in tech layoffs, it seems that cuts are starting up again. Tech companies are now focusing more on efficiency rather than growth, and they are reducing their workforce due to the challenging market conditions. Here are all the job cuts that happened in the tech industry in January 2024.
According to data from Layoffs.fyi, a layoff-tracking website, a total of 2,62,595 employees were laid off last year by 1,187 tech companies. So far in January, 91 tech companies have already fired 24,564 employees.
According to data from Layoffs.fyi, a layoff-tracking website, a total of 2,62,595 employees were laid off last year by 1,187 tech companies. So far in January, 91 tech companies have already fired 24,564 employees.