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Tech layoffs 2023 tracker: Microsoft, Meta, Amazon, Salesforce announce big job cuts

SAN FRANCISCO: Layoffs that began in 2022 are accelerating across much of the technology world.

The tech industry is slashing jobs at a pace nearing the early days of the Covid-19 pandemic. In November, the most recent month for which data is available, the sector announced 52,771 cuts, for a total of 80,978 over the course of the year, according to consulting firm Challenger, Gray & Christmas Inc.
It was the highest monthly total for the industry since the firm started keeping data in 2000.

More recently, tech giants such as Amazon.com Inc and Microsoft Corp have announced plans for deeper cuts. And a number of companies are reckoning with volatile cryptocurrency markets or a sudden slump in demand.

After a bumpy start to the pandemic in 2020, tech companies benefited from a boom in e-commerce spending and remote work boomed, triggering a hiring spree. Now, things look different. In recent earnings reports, Alphabet Inc, Meta Platforms Inc, Microsoft and others missed estimates, sending shares plunging.

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