The tech industry continues to experience significant layoffs in 2024, with big names like Pixar, Google, Microsoft, Mozilla, and TikTok cutting significant numbers of employees. The trend of layoffs is following a similar pattern to the previous year, with cuts slowing down in the summer before ramping up again in the winter. The slow momentum for a rebound in the tech sector has led companies to focus on efficiency rather than growth.
Tracking these layoffs is crucial for understanding the impact on innovation and identifying which companies are under pressure. Unfortunately, layoffs also highlight the human impact of workforce reductions and how risk profiles may change going forward. Below is a list of known layoffs in the tech industry that started in 2023 and continue into 2024, with updates provided monthly. If you have information on a layoff, you can contact us here.
In 2023, a total of 262,735 employees were laid off, which was 59% higher than the previous year. The layoffs in 2024 have already begun, with significant cuts in January, February, and March. Companies like Synctera, ShopBack, Airmeet, Chipper Cash, and others have announced layoffs affecting hundreds of employees.
The layoffs highlight the challenges facing the tech industry, with companies struggling to navigate market conditions and find sustainable growth. As the year progresses, it will be important to monitor how these layoffs impact the industry as a whole and what the future holds for tech companies and their employees.
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