The multinational tech titans are in full layoff mode! 182,605 people have been affected by 1138 waves of layoffs at tech companies worldwide so far this year, according to TrueUp's tech layoff tracker (October 2022). In response to recession fears, sluggish consumer spending, increasing interest rates, and the effects of inflation, nearly all major US IT businesses, including Meta, Amazon, Twitter, Google, and Microsoft, have frozen or are already slowing down recruiting.
The industry has seen some of the biggest tech layoffs in history over the period of just a few months. Prior to that, several major global tech companies, including Microsoft, Apple, and Google, to name a few, declared a hiring freeze and slowdown for the remainder of 2022.
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