Layoff Trends Unveiled

The tech industry has faced unprecedented layoffs, with 2023 recording a staggering 263,000 job losses, a 60% increase from the previous year. Unlike the COVID-related layoffs in 2020, which were concentrated in specific sectors like travel and retail, the current wave affects all areas of tech. Interest rate hikes have played a significant role in this trend, impacting even the most resilient sectors.