Tech Layoffs Surge Past 50,000 in 2023 as Major Companies Continue Cost-Cutting

• Over 50,000 tech workers laid off across 200+ companies in 2023, continuing trend from last year of over 260,000 laid off across 1,200 companies • Major tech companies like Alphabet, Amazon, Meta, Microsoft taking part in downsizing along with others like eBay, Unity, SAP, Cisco • Wall Street cheering cost-cutting and efficiency gains from AI leading to higher profits
• 2023 second biggest year for tech layoffs behind only dot-com crash in 2001 with over 50,000 cut in one month • Laid off tech workers facing increasingly competitive market with strict qualification requirements and lower pay than before