Meta layoffs

Both 2022 and the first half of 2023 have seen several layoffs and job cuts in the tech industry. While layoffs and job cuts in any industry are not unexpected (especially with global inflation and a looming recession), what makes these tech layoffs so shocking is the fact that they have happened not just to smaller tech startups or tech businesses, but also to the biggest tech companies in the world. Big Tech Layoffs of 2022-2023 Google / Alphabet Inc. Meta / Facebook Back in November 2022, Facebook founder Mark Zuckerberg announced that Meta would be laying off over 11,000 employees immediately. This represented around 13% of Meta's global workforce. According to Zuckerberg, Meta had originally hired more employees to keep up with the rapid growth of e-commerce experienced during the COVID-19 pandemic. However, when the pandemic ended, Zuckerberg said that the "macroeconomic downturn, increased competition, and ads signal loss" caused Meta's revenue to be much "lower than I’d expected." This, in turn, prompted Meta's move to lay off a portion of its workforce. Yahoo The layoffs also didn't spare multinational tech company Yahoo, as they also decided to let go of around 1,700 employees (which amounts to 20% of its current workforce) early this year. Read more in our articles including "Big Tech Layoffs of 2022-2023" and "Konami announces Metal Gear Survive for Xbox One, PS4 and PC".