What the Major Tech Layoffs Mean for the Global Economy
Technology sector layoffs grabbed the headlines through the final quarter of 2022 and have only gained pace in the new year. So far 344 tech companies have laid off over 100,000 employees in 2023. Google leads the pack, with planned layoffs of 12,000 employees, representing 6% of its global workforce. Following in Google’s footsteps are other tech giants like Meta Platforms, Amazon, and Microsoft. Layoffs are often an early signal of an impending economic downturn, with companies responding to the potential dwindling of revenues and earnings.
By Andrew Lane | March 1, 2023