Layoffs Soaring In Tech Industry This Month

November worst month for tech firings this year
This picture taken on July 4, 2022 shows the logo of Amazon, a major online shopping company, displayed at Amazon Amagasaki Fulfillent Center in Amagasaki, Hyogo prefecture. (Photo by Kazuhiro NOGI / AFP) (Photo by KAZUHIRO NOGI/AFP via Getty Images)

At a glance

  • The technology sector is one of the hardest hit by the Federal Reserve’s rate hikes.
  • Amazon is preparing to lay off approximately 10,000 employees in its largest reduction yet.
  • Meta’s layoffs account for almost half of the 23,000 firings in November.
  • Twitter laid off 3,700 employees this month, Salesforce laid off 1,000, Lyft cut 700 employees, and Redfin let go of 850.

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