More than 219,000 global tech workers have lost their jobs this year

By James Rogers

2023 has easily surpassed 2022 for global tech redundancies

More than 219,000 global technology-sector employees have been laid off since the start of 2023, according to data compiled by the website Layoffs.fyi.

That number has gone up more than eightfold since mid-January, the website noted.

The data show that 2023 has easily surpassed 2022 for global tech redundancies, with 869 tech companies laying off 219,809 employees since the start of the year. Last year, 1,024 tech companies laid off a total of 154,336 employees, according to Layoffs.fyi.

Related: Microsoft is cutting more jobs, after laying off 10,000 earlier this year

Software giant Microsoft Corp. (MSFT) announced more job cuts last week, in addition to the 10,000 cuts the company announced earlier this year. GeekWire first reported the latest round of cuts, which target employees in customer service, support and sales. Some 276 workers in the Seattle area will lose their jobs, according to a filing with Washington state's Employment Security Department.

"Organizational and workforce adjustments are a necessary and regular part of managing our business," a Microsoft spokesperson said in an emailed statement last week. "We will continue to prioritize and invest in strategic growth areas for our future and in support of our customers and partners."

Last month, Niantic Inc., the company that created the popular "Pokemon Go" game, announced 230 layoffs.

Related: 'Pokemon Go' maker Niantic to lay off 230 workers

At the end of June, the Wall Street Journal reported that stock-trading app Robinhood Markets Inc. (HOOD) was laying off around 7% of its full-time staff, or about 150 people. "We're ensuring operational excellence in how we work together on an ongoing basis," a Robinhood spokesperson told MarketWatch. "In some cases, this may mean teams make changes based on volume, workload, org design and more."

Earlier in the month, Insider reported that Oracle Corp. (ORCL) had laid off hundreds of employees, cut back open positions and rescinded job offers at its health unit. MarketWatch has reached out to Oracle with a request for comment.

And in early June, Spotify Technology SA (SPOT)announced plans to lay off approximately 200 people, or 2% of the company's workforce.

Related: Robinhood is laying off around 7% of staff, Wall Street Journal reports

Chinese tech giant Alibaba Group Holding Ltd.'s (9988.HK) cloud unit also started the process of cutting 7% of staff, Barron's reported in late May, citing a source familiar with the matter. News of the job cuts was first reported by Bloomberg.

Facebook parent Meta Platforms Inc. (META) also made its latest round of layoffs in late May, according to reports, marking the tech giant's third set of cuts this year. Meta declined to comment in response to a request from MarketWatch for confirmation of the latest layoffs. The company's second round of layoffs in April cut technical positions, according to LinkedIn posts. Meta is in the midst of cutting 21,000 jobs in 2023 as part of what CEO Mark Zuckerberg has described as a "year of efficiency" for the company.

Other big-name tech companies have also been making cuts. In early May, Microsoft-owned LinkedIn announced plans to cut its workforce by more than 700 employees. The company was also getting rid of its local jobs app in China. "As we guide LinkedIn through this rapidly changing landscape, we are making changes to our Global Business Organization (GBO) and our China strategy that will result in a reduction of roles for 716 employees," LinkedIn CEO Ryan Roslansky wrote in a May 8 email to the company's employees that was also posted on the company's website.

Related: Spotify will lay off 200 employees as it shakes up podcast strategy

LinkedIn has more than 20,000 employees, according to its website.

Amazon.com Inc. (AMZN) conducted layoffs in Amazon Web Services and in its human-resources department, the company said in late April.

And in March, Electronic Arts Inc. (EA)announced its intention to slash 6% of its workforce as the videogame publisher looks to cut costs. Streaming-media company Roku Inc. (ROKU) also disclosed that it would lay off 200 employees as part of a cost-cutting plan.

Related: Microsoft in the spotlight as tech layoffs roll on

A host of tech companies, including Palantir Technologies Inc. (PLTR), Twilio Inc. (TWLO), DocuSign Inc. (DOCU), Salesforce Inc. (CRM), SAP (SAP.XE), Zoom Video Communications Inc. (ZM), eBay Inc. (EBAY), Dell Technologies Inc. (DELL), PayPal Holdings Inc. (PYPL), International Business Machines Corp. (IBM), Intel Corp. (INTC), Microsoft Corp. (MSFT) and Google parent Alphabet Inc. (GOOGL)(GOOGL), have also announced job cuts in 2023.

Since Elon Musk took control of Twitter last year, the San Francisco-based company has also made significant layoffs. In March, Musk described laying off almost 6,500 people, or 80% of the company's workforce, as "painful" and "one of the hardest things" he has had to do.

Mike Murphy, Bill Peters, Emily Bary, Jon Swartz and Anviksha Patel contributed.

-James Rogers

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07-17-23 1004ET

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