Tech layoffs have become a regular occurrence in the tech industry over the past few months. But they seem to be accelerating in recent weeks, as companies grapple with the fallout from the pandemic and an uncertain economic environment.
It’s been a difficult year for the tech industry, to say the least. As businesses struggle to stay afloat in a challenging market, tech companies are laying off employees at an alarming rate. In the first quarter of 2022 alone, tech companies announced nearly 45,000 layoffs.
Tech Layoffs in 2022
And it’s not just big tech firms that are feeling the pinch. Startups are also laying off employees as they struggle to raise funding and grapple with a cooling market.
If you’re keeping track of the tech layoffs, here’s a layoff tracker that can help. This layoff tracker is updated daily and includes the latest layoff announcements from tech companies across the industry.
Notable Tech Layoffs
Tech companies of all sizes have been affected by the layoff wave. From small startups to major tech giants, no one has been immune.
The layoffs come as a result of several factors, including the cooling of the pandemic-driven startup boom, worries about inflation and interest rates, and geopolitical tensions.
This environment has made it difficult for startups to raise new funding, resulting in many companies turning to layoffs as a way to cut costs.
Some of the most high-profile tech layoffs have come from companies like:
- Wix.com – web builder laid off 100 plus
- JamCity – large mobile gaming studio laid off 100 plus
- StubHub – ticketing service laid off 200 employees, plans to close the office in SF
- Groupon – discount platform laid off 500 people
- Warby Parker – eyewear retailer laid off 63 employees
- Shopify – eCommerce platform laid off 1000 employees
- UiPath – AI automation laid off approximately 200 employees
This is merely the beginning of what will be a long and difficult process. Although it may seem like solid evidence, this study relied on data from only a small number of internet retailers in order to paint a relatively broad portrait. As we’ve seen with previous downturns, job cuts are never easy; they’re even more challenging during economic crises. Many startups are seeking funding in the current market, and layoffs are one way to cut costs and stay afloat.
We’ll continue to update this page with information on tech layoffs as it becomes available, so make sure to check back often.
In the meantime, you can check out the layoff tracker on our sidebar or on this page.