Equity avatar

Dexa/Equity

Learn more
Published Sep 4, 2024

Inside startup shutdowns with the creator of Layoffs.FYI (re-run)

Mary Ann Azevedo and Roger Lee explore the rise in startup failures and the innovative services aiding shutdowns while diving into layoff trends from 2020 to 2024 and the dual impact of AI on the job market.
Episode Highlights
Equity logo

Topics covered

Popular Clips

Questions from this episode

Episode Highlights

  • Layoff Trends

    Roger Lee provides a comprehensive overview of the historical trends in layoffs from 2020 to 2024. He notes that layoffs spiked in January and February due to annual budgeting and planning cycles, with companies like Google and Microsoft announcing layoffs exactly one year apart 1. Lee highlights significant increases in layoffs during 2022 and 2023, with 2023 seeing a 60% rise compared to the previous year 2.

    2023 actually was even worse. 263,000 employees in 23, which compared to 22, was about 60% more than the previous year.

    ---

    He remains hopeful that 2024 will see a decrease in layoffs if interest rates decline as expected 1.

       

    Industry Impact

    Lee discusses the industries most affected by layoffs, noting that the impact has been widespread across all tech sectors. Initially, COVID-related layoffs in 2020 hit transportation, travel, and retail the hardest 3. However, the recent wave of layoffs due to interest rate hikes has affected all tech sub-industries, including consumer, retail, hardware, finance, and healthcare.

    It's really affected all industries in tech. There's no one industry that's been disproportionately affected.

    ---

    Lee emphasizes that finance and real estate have been particularly impacted due to their sensitivity to interest rates 3.

Related Episodes