Tech Company Layoffs In 2023: The Cuts Continue In Second Quarter
Joseph F. Kovar
Despite a tight IT labor market and a large number of job openings by IT firms looking for skilled professionals, tech company layoffs continue as businesses look to optimize their cost structures or adjust their market or growth plans.
No Letup In 2023 Tech Layoffs
As the U.S. continues in a time of historically low unemployment rates, tech industry headlines 2023 are quite often focused on tech layoffs.
There are several likely explanations as to why 2023 tech layoffs are increasing. Many CEOs are citing hiring too many employees during 2021 and 2022 as demand for IT solutions exploded during the COVID-19 pandemic as a main reason for letting employees go now.
Other companies are explaining layoffs as part of a plan to reorganize to better meet customer requirements or to take better advantage of newer technologies such as the cloud.
Lenovo Chairman and CEO Yuanqing Yang, for instance, told investors earlier this year that the company is reducing operational expenses and making workforce adjustments where necessary and appropriate while investing to accelerate growth and transform the company.
Global IT services provider Kyndryl in late March told CRN that it is eliminating some roles globally to become more efficient and competitive while the company continues ongoing transformation work to streamline and simplify processes and systems and better focus its investments in areas that directly benefit customers.
CRN has compiled a list of tech companies that have laid off workers since April 1 of this year. Note that this list of tech layoffs is focused primarily on companies with a major focus on the B2B IT sector and does not include layoffs at consumer-focused companies such as Meta or Lyft. This list also does not include layoffs of tech staff by companies not normally considered as tech companies.
Here is a list of tech companies that have instituted layoffs so far in the second quarter of 2023. CRN will update this list on an ongoing basis.
Mark Haranas, Wade Millward, Kyle Alspach, and Dylan Martin contributed to this article.