Layoffs in the Global Tech Industry
Contrary to general perception, in recent years, the tech sector has entered a rather turbulent phase, marked by massive layoffs. 2022 witnessed a staggering 649% increase in layoffs, which continued to manifest itself in the subsequent year. The first quarter of 2023 witnessed a peak in layoffs and the tech industry underwent its most significant contraction in the last ten years, with the loss of more than 240,000 jobs.
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