Visualizing Tech Company Layoffs in 2022


This post is by Nick Routley from Visual Capitalist


tech layoffs in 2022

Visualizing Tech Company Layoffs in 2022

Layoffs are happening so frequently in 2022 that everyone from Crunchbase to Indian tech website Inc42 are now keeping track.

There is even a standalone website tracking all tech layoffs in the United States.

For the purposes of this infographic, we’ve used data from trueup.io which includes a mix of U.S. and international tech companies that have let workers go in 2022.

A Thousand Cuts: Mass Layoffs by Tech Companies

Layoffs are having an impact on the entire tech industry, and the phenomenon is global. Here are some of the most high-profile examples of mass layoffs in 2022:

Meta: The social media giant faces competition from upstarts like TikTok, as well as a pool of ad dollars that is shrinking in the face of a faltering economy. Although this reduction in headcount is painful for Meta, it’s worth considering a more broad perspective. In close to two decades of doing business, these will be the company’s first wide-scale job cuts.

Twitter: Though Meta wins with sheer volume of cuts, Twitter’s mass layoffs are surely the most dramatic. In early November, the company’s iconoclastic new owner, Elon Musk, slashed 50% of the workforce, and soon after, thousands of contractors also suddenly lost their jobs. Estimating how many employees remain at the company will remain a challenge until the dust settles.

Byju’s: Layoffs are not just confined to the United States. India’s sizable tech sector is also facing cuts. EdTech giant, Byju’s, laid off 2,500 employees (Read more...)