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Global Tech Layoffs in 2023

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Andrew R. Michaud

• September 22, 2023

According to data compiled by the website Layoffs.fyi, the global technology sector has witnessed a significant number of layoffs this year. As of now, a total of 236,495 employees have been laid off by 1,019 tech companies in 2023. In comparison, last year saw 154,336 employees being laid off by 1,024 tech companies.

Cisco Systems Inc.: 350 Job Cuts in Silicon Valley

Networking giant Cisco Systems Inc. is one of the tech companies taking part in the layoffs. In its latest round of job cuts, the company will lay off 350 employees in Silicon Valley next month. This information was revealed in a recent filing with California's Employment Development Department.

Roku Inc.: 10% Staff Reduction

Streaming company Roku Inc. has also announced its plans to lay off 10% of its staff. As of the end of 2022, Roku had approximately 3,600 employees, according to its most recent annual filing.

Microsoft Corp.: Additional Job Cuts

Software giant Microsoft Corp. has announced additional job cuts in July, on top of the 10,000 cuts that were previously announced earlier this year.

Niantic Inc.: 230 Layoffs

In June, Niantic Inc., the company behind the popular game "Pokemon Go," made an announcement regarding 230 layoffs.

It is evident that the tech industry continues to face numerous challenges, resulting in these workforce reductions across various companies.

Tech Companies Announce Job Cuts in 2023

In June, there were reports of several tech companies implementing job cuts as part of their operational strategies.

Robinhood Markets Inc.

Wall Street Journal reported that stock-trading app Robinhood Markets Inc. (HOOD) was laying off approximately 7% of its full-time staff, which amounted to around 150 employees. A spokesperson from Robinhood emphasized the need for operational excellence and mentioned that teams might undergo changes based on factors such as volume, workload, and organizational design.

Spotify Technology SA

Spotify Technology SA (SPOT) also joined the list of companies reducing their workforce, planning to lay off around 200 employees, which represented about 2% of the company's total workforce.

Other Tech Companies

Furthermore, various other renowned tech companies decided to implement job cuts in 2023. These companies included:

• Meta Platforms Inc. (parent company of Facebook)
• Amazon.com Inc.
• Microsoft-owned LinkedIn
• Electronic Arts Inc.
• Palantir Technologies Inc.
• Twilio Inc.
• DocuSign Inc.
• Salesforce Inc.
• SAP
• Zoom Video Communications Inc.
• eBay Inc.
• Dell Technologies Inc.
• PayPal Holdings Inc.
• International Business Machines Corp.
• Intel Corp
• Google parent Alphabet Inc.

Mike Murphy and Emily Bary contributed to this report.