Managed services News
The 10 Biggest Tech Company Layoffs Of 2023 (So Far)
Joseph F. Kovar
After a sizzling economic and IT industry recovery from the COVID-19 pandemic in 2021 and 2022, the year 2023 marked the beginning of notable layoffs among tech vendors large and small. CRN looks at the 10 biggest tech layoffs of the year so far.
Tech Layoffs In 2023
Anyone listening to tech companies’ quarterly financial analyst conference calls will inevitably hear one phrase more than any other: macroeconomic headwinds.
Macroeconomic headwinds has become the catch-all term referring to customer purchasing slowdowns, a possible recession and geopolitical issues.
The impact from macroeconomic headwinds is often cited as a key reason for a business slowdown and, increasingly, for layoffs.
According to the online layoff tracker layoffs.fyi, 810 tech companies in 2023 have laid off over 210,000 employees as of late June. That compares with 1,058 tech companies that in all of 2022 laid off just shy of 165,000 employees. That site tracks U.S.-based as well as non-U.S. tech layoffs.
CRN has also been tracking tech layoffs in 2023. This report looks at the 10 biggest tech layoffs so far in 2023. Six of the 10 companies unveiled their layoffs in January. Many of the layoffs were accompanied by plans to downsize real estate or make other reductions in expenses.
Please note that there are some big tech layoffs not covered in this report. Given CRN’s focus on the channel, it does not include consumer-facing companies like Meta or Shopify or Lyft.