IT Layoffs 2023: Over 17,400 Tech Employees Fired Globally to Date

IT layoffs 2023 remains the industry’s worst nightmare so far. To date, more than 17,400 people in the information technology industry have been let off internationally in February, with many workers in India receiving pink slips as global financial circumstances worsen. So far, in 2023, over 340 corporations have laid off more than 1.10 lakh people worldwide, and there appears to be no end to job losses.

Companies with significant IT layoffs this month

Yahoo, BYJU's, GoDaddy, GitHub, eBay, Autodesk, OLX Group, and other major corporations have begun firing employees this month. According to layoff.fyi, a website that records job losses internationally, about 1 lakh lost positions in January, driven by corporations such as Amazon, Microsoft, Google, Salesforce, and others.

 Meta is preparing for IT layoffs

In January alone, more than 3,300 IT personnel were laid off daily by more than 288 organisations globally. More job layoffs are predicted in the coming days due to economic worries. Meta (previously Facebook) is preparing to significantly decrease employment in its "year of efficiency" after sacking 11,000 employees in November last year.

Also read: TikTok Layoffs Announced, Here’s the Reason For Entire Indian Team to Get Fired

Boeing is laying off employees.

Boeing is laying off 2,000 employees in the finance and human resources sectors this year, with nearly a third of those positions being outsourced to Tata Consulting Services (TCS) in Bengaluru. According to data from the layoffs tracking website Layoffs.fyi, over 1,000 employers cut off 154,336 people in 2022. More than 2.5 lakh tech workers have been laid off thus far.

Conclusion

According to data produced by Layoffs.fyi, an online tracker that keeps track of job losses in the technology industry, tech companies laid off 101,657 people in the first six weeks of — comparable to 64% of all tech business layoffs in 2022. While high-profile IT firms like Amazon and Microsoft have already announced significant job cuts this year, the good news for technology professionals is that many layoffs involve non-technical employees. Indeed, a scarcity of experienced tech personnel has caused employers to hike compensation for IT experts, with consultant Janco Associates estimating that increases for IT employees might increase by 8% in 2023.