Nearly 200,000 tech employees fired globally in 2023; more layoffs expected

Facebook’s parent Meta on Wednesday has begun with the second round of layoffs. The year is proving particularly challenging for the IT industry as the layoffs have reached unprecedented levels.

Meta in its second round of layoffs plans to fire 10,000 employees across all platforms.

According to recent data from layoff.fyi, a layoff tracker website, 702 companies have laid off 199,047 employees in 2023 so far worldwide.

An ETNow report stated that several IT companies announced the laying off process as part of their cost-cutting measure to survive amidst challenging times. It further said that the layoffs which started over a year ago have now impacted thousands of employees across the world.