A comprehensive review of layoffs in the US technology industry in 2022! The consumer and retail sectors are the hardest hit!

It is learned that according to data from the layoff tracking website Layoffs.FYI, employers in the US technology industry laid off a total of more than 153,000 people in 2022, compared with 80,000 in 2020 and 15,000 in 2021.

Data shows that consumer and retail are the two hardest hit parts of the tech industry in 2022, with a combined layoff of about 40,000 people. Facebook parent company Meta Platforms accounts for about half of the layoffs in the consumer group, while Amazon accounts for about half of the layoffs in the retail business.

Amazon's layoffs are not over. In November, Amazon CEO Andy Jassy confirmed in an open letter to employees that the company was laying off employees and said the layoffs would continue until 2023, but did not specify the number of employees planned to be laid off.

According to Layoffs.FYI, other companies in the top five for total layoffs in 2022 include Booking.com (4,375 jobs), Cisco (4,100 jobs) and Twitter (3,700 jobs).

Overall, 2022 will be a difficult year for US technology companies. The continued rise in inflation and the continuous interest rate hikes by the Federal Reserve have put tremendous pressure on businesses and consumers. Especially for companies, spending, profits and revenue growth have slowed significantly.

Layoffs.FYI also noted that after achieving triple-digit revenue percentage growth during the pandemic, DoorDash ended 2022 with a loss of 67.9%. At the end of 2021, DoorDash said it would lay off 1,250 employees, about 14% of its total workforce.

Meanwhile, online retail giant Shopify has also struggled as consumers return to physical stores and focus their spending on necessities and affordable items. In July, the company announced that it would lay off 1,000 employees, or 10% of its total workforce.

Editor ✎ Nicole/

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