The technology industry has been hit hard by a combination of economic difficulties, the COVID-19 pandemic, and business missteps. Unfortunately, this has resulted in a ramping up of job cuts in 2023, in addition to those in 2022. Keeping track of these major layoffs can be challenging, which is why we have compiled all the information in one place and will continue to update this story as the situation evolves.
In June, Spotify announced plans to cut 200 jobs in its podcast unit, following January layoff plans. The move is part of a more targeted approach to fostering optimized resources for creators and shows, with Gimlet and Parcast production teams being combined into a renewed Spotify Studios division.
GrubHub also had to lay off 15 percent of its workforce, or roughly 400 staff in June. The intense pressure from both the economy and competitors like Uber, led the company’s new CEO, Howard Migdal, to claim the job cuts would help the company remain “competitive”.
Shopify, the Canadian e-commerce platform, laid off 20 percent of its workforce and sold its logistics business to Flexport in May. Founder Tobi Lütke characterized the job cuts as necessary to “pay unshared attention” to Shopify’s core mission, now that the pandemic’s peak is over.
Polestar, a Volvo spinoff brand, cut 10 percent of its workforce in May, as they delayed production of the Polestar 3, due to reduced manufacturing expectations and a rough economy.
SoundCloud cut 8 percent of its staff in May, following extensive layoffs last year, in an effort to become profitable in 2023.
Lyft, the ridesharing company, shrank its workforce by 26 percent or 1,072 workers in April, after layoffs of 13 percent of staff in November 2022, to streamline its business, refocus on drivers and passengers and concentrate on high-impact projects.
Dropbox laid off 500 employees, or roughly 16 percent of its team, in April, citing the combination of a rough economy, a maturing business, and the urgency to hop on the growing interest in AI.
Roku laid off 200 employees in March, following layoffs at the end of 2022, arguing that it needed to curb growing expenses and concentrate resources on those projects that would have the most impact.
Luxury EV maker Lucid Motors laid off 18 percent of its workforce in March, or about 1,300 people, cutting across executives and contractors to deal with evolving business needs and productivity improvements.
Meta previously slashed 11,000 jobs in fall 2022 but announced plans to lay off another 10,000 workers in March, hoping to streamline its operations by reducing management layers and asking some leaders to take on work previously reserved for the rank and file.
Rivian, the fledgling EV brand, laid off another six percent of its employees in February, or about 840 workers, as it fights to achieve profitability and focuses on its highest impact aspects of the business.
Zoom laid off roughly 1,300 employees, or 15 percent of its personnel, in February, citing the need to streamline its business as people return to offices.
Yahoo laid off over 20 percent of its workforce throughout 2023, or more than 1,600 people, in February. CEO Jim Lanzone pitched it as a restructuring of the advertising technology unit, shedding an unprofitable business and bowing out of direct competition with Google and Meta in the ad market.
PC maker Dell laid off five percent of its workforce in early February, or about 6,650 employees, after a brutal fourth quarter where computer shipments plunged an estimated 37 percent.
Deliveroo laid off about 350 workers, or nine percent of its workforce, in February, with redeployments bringing this closer to 300, as it deals with a troublesome economy.
DocuSign also announced layoffs in February, cutting 10 percent of its workforce, which represents a significant number of its 7,461 employees at the start of 2022. The majority of those losing their jobs work in DocuSign’s worldwide field organization.
Lastly, GitLab, whose DevOps platform underpins work at tech companies like NVIDIA and T-Mobile, was also hit hard by a shrinking business climate, resulting in layoffs of an unspecified number of employees in February.
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Alex Smith is a writer and editor with over 10 years of experience. He has written extensively on a variety of topics, including technology, business, and personal finance. His work has been published in a number of magazines and newspapers, and he is also the author of two books. Alex is passionate about helping people learn and grow, and he believes that writing is a powerful tool for communication and understanding.
