Layoff Trends Explored

Layoffs surged dramatically in recent years, with 263,000 employees affected in 2023 alone—60% more than in 2022 and three times the number seen in 2020. The tech sector, which had previously thrived during the pandemic, faced significant cuts due to over-hiring and rising interest rates. As the landscape continues to shift, the first two months of 2024 have already seen 50,000 layoffs, indicating ongoing challenges ahead.