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Silicon Valley jobs are disappearing as tech companies laid off more than 20,000 people in the first ten days of 2023
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Technology companies laid off more than 20,000 people in the first ten days of the year as mass layoffs continue to haunt Silicon Valley in the United States.
According to tracking site Layoffs.fyi, 50 tech companies have laid off 20,743 workers since early 2023.
Software company Salesforce and e-commerce giant Amazon announced global job cuts of 8,000 and 18,000 respectively since the new year, citing economic pressures and the need to downsize their massive workforces.
Tech cuts: Software company Salesforce and e-commerce giant Amazon have announced global job cuts of 8,000 and 18,000 respectively since the new year
On Monday, crypto giant Coinbase also revealed it would cut 20 percent of its workforce, 950 staff, in a restructuring plan.
This was the third round of layoffs for the crypto exchange since last year.
The new cuts stem from a wave of staff cuts last year by Facebook owner Meta, Twitter and Snapchat, among others.
According to estimates from Layoffs.fyi, the technology sector laid off more than 150,000 workers by 2022.