Over 100K Employees Laid off in 2023
According to Layoff.fyi, over 100,000 employees have been laid off in just the first two months of 2023. This comes from only 334 companies, whereas there were 1044 companies that laid off close to 160,000 employees in the whole of 2022. But on the other side, 637 out of the 1795 listings, i.e. 35%, shows the number of laid-off employees as zero. This means that the case can be worse. Since, the website only includes a fraction of companies that have laid off employees, some predict that the number can be north of half a million easily if others are also included. Amid the mounting layoff by technology companies, the latest one was Yahoo, when on Thursday it announced that it is laying off around 20% of its workforce by the end of this year. The job cuts will start this week with about 1,000 employees, and around 600 will be asked to leave by the end of six months. The company’s headcount is expected to drop 50% by the end of the year. Spotify announced in January about laying off 6% of its workforce, which is roughly 590 employees. Amazon plans to fire 18,000 employees, Cisco is cutting around 4000 jobs, and Adobe also joined the trend by firing around 100 employees in December. Bob Iger, the CEO of Disney, revealed on Wednesday that the company plans to cut 7,000 jobs, equivalent to 3% of its workforce, in an effort to save $5.5 billion. This comes after a string of similar announcements from big tech companies such as Zoom, which will cut 15% or 1,300 jobs, eBay will let go of 4% or 500 employees, PayPal will reduce its workforce by 7% or 2,000 employees, SAP will cut 2.5% or 2,800 jobs, IBM will lay off 1.5% or 3,900 employees, and Dell will eliminate 6,000 jobs, which represents 5% of its workforce.
Amid the mounting layoff by technology companies, the latest one was Yahoo, when on Thursday it announced that it is laying off around 20% of its workforce by the end of this year.
According to Layoff.fyi, over 100,000 employees have been laid off in just the first two months of 2023. This comes from only 334 companies, whereas there were 1044 companies that laid off close to 160,000 employees in the whole of 2022.
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Mohit writes about AI in simple, explainable, and often funny words. He's especially passionate about chatting with those building AI for Bharat, with the occasional detour into AGI.