While there have been a lot of headlines about tech layoffs over the past few months, a new analysis from layoff crowdsourcer layoff information site layoffs.fyi suggests that the actual rate of layoffs has remained relatively stable.
Latest Layoff.fyi The breakdown also lists major tech companies that have cut employees in the past month, including (but not limited to) Microsoft, eBay, Priceline, PayPal, Bytedance, etc. Below is a historical chart showing the increase and decrease in tech company layoffs over the past few years.
The start of 2023 is still a long way away from when some of the tech industry's largest companies will collectively cut tens of thousands of employees as part of a major post-pandemic restructuring, but macroeconomic pressures are still causing some companies to restructure their existing workforces.
meanwhile, The tech unemployment rate rose to 3.7% in June, a notable increase after falling to 2.5% in May. “Despite signs of growth, recent data suggest some downward pressure on tech employment,” CompTIA chief research officer Tim Herbert said in a statement. Accompanying the analysis of data from the U.S. Bureau of Labor Statistics (BLS)“A confluence of factors, including FOMO about AI, is likely contributing to some employers taking a wait-and-see approach when it comes to hiring in tech.”
Job categories that have seen an increase in job openings this year (and therefore are less likely to be laid off) include:
While unemployment and layoff rates fluctuate, keep in mind that companies around the world still need highly specialized technical talent for a variety of tasks, from building websites to training the next generation of AI models. If you have the skills, companies across a wide range of industries want you.
