For the last 2 years, so many technical employees have lost their jobs every hour, more layoffs are certain in the future.

New Delhi (Uttam Hindu News): Tech companies, including startups, across the world have laid off more than 4,00,000 employees in the last two years (till October 13). More than 110 Indian startups have laid off more than 30,000 employees in India in the same period. Citing global macroeconomic conditions, Big Tech firms and various spectrum startups have laid off employees and layoffs are ongoing.

According to the latest data from layoff.fyi, a website that tracks job cuts in the technology sector, so far 2,120 technology companies globally have laid off 4,04,962 employees. In the year 2022, 1,061 tech companies laid off 1,64,769 employees. Whereas, so far in 2023 (till October 13), 1,059 companies have laid off 2,40,193 employees.

On average, about 555 employees lost their jobs every day or 23 employees every hour over the past two years. In January alone, 89,554 employees were laid off. Although the count reduced, layoffs continued. According to the data, 4,632 employees were laid off last month.

In terms of sectors, retail tech and consumer tech laid off the most employees this year. According to the data, retail tech has laid off about 29,161 employees and consumer tech industries have laid off 28,873 employees. Since the year 2023 is not over yet, more layoffs are certain to happen in the remaining period.