Tech Layoffs 2023: 97,000 Job Cuts Last Year, 63% Started Their Own Companies
Tech companies let go over 97,000 employees in 2022, forcing–or inspiring–many of the laid-off workers to start their own companies.
According to a report from placement services firm Challenger, Gray & Christmas, the 2022 figure marked a 649% increase from the roughly 13,000 tech industry job cuts in 2021. This makes the technology sector the leading industry in job cuts, followed by the automotive sector, which cut 31,000 workers last year.
"The overall economy is still creating jobs, though employers appear to be actively planning for a downturn. Hiring has slowed as...