Tech Layoffs in 2024 and 2025
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Updated on Jan. 9.
Notable tech layoffs in January:
On Jan. 9, Vox, a news website owned by Vox Media, laid off an unspecified number of employees.
On Jan. 9, Microsoft confirmed it is planning to layoff employees soon. It's unclear how many workers would be impacted.
On Jan. 7, Aqua Security, a cyber security company, laid off dozens of employees
Tech companies have been consistently laying off employees since late 2022.
In 2024, some 542 tech companies laid off 151,484 employees, according to layoffs.fyi., which tracks job cuts in the tech industry.
Beginning in 2022, tech layoffs increased steadily before hitting a peak of 585 companies in the first quarter of 2023, according to layoffs.fyi. Since then, tech layoffs have declined. In the fourth quarter of 2024, some 100 companies announced layoffs.
These layoffs are an outlier in an otherwise strong job market: The unemployment rate hovered between 3.4% and 3.9% Dec. 2021 to April 2024, Bureau of Labor Statistics data shows. Since then, unemployment has ticked up, hitting 4.2% for November.
Employment, at large, is doing well. But when layoffs are happening in the most visible sector on the internet, you’re going to hear about it.
What tech companies have laid off workers recently?
Some notable layoffs in December:
On Dec. 12 , Refinery 29 laid off about 10% of its staff, or under a dozen workers.
On Dec. 12, Calendly, a scheduling platform, laid off 70 employees, or about 13% of its workforce.
On Dec. 11, Foundry, a blockchain development toolchain company, announced it was laying off 27% of staff, which amounts to about 74 workers.
On Dec. 10, Booking Holdings, an online travel company, wrote in a financial filing that it anticipates 8-10% of its workforce would be laid off in 2025.
On Dec. 6, Mixtroz, a peer-to-peer engagement tech startup, closed its doors.
On Dec. 5, EasyKnock, a real estate
On Dec. 5, Vox Media, which owns several digital media brands, laid off staff at Thrillist, a travel and neighborhood website, and Eater, a restaurant guide website.
On Dec. 4, Fortune reported that Stash, a fintech company, had laid off 40% of its staff since October.
What’s going on with layoffs in tech?
The biggest tech layoffs have occurred at high-profile companies. During 2024, the biggest companies with major layoffs included Microsoft, Google, Tesla, eBay, PayPal, Expedia Group, Intuit, TikTok, Salesforce and others.
Cutbacks in 2023 and late 2022 included mass layoffs at Accenture, an IT company; Amazon; Meta, which owns Facebook and Instagram; Zoom Video Communications, Inc.; Dell; Spotify; Google-parent Alphabet; Microsoft; and Twitter.
Other big-name companies laid off employees in 2023 and they run gamut of what tech has to offer: crypto (Coinbase), e-commerce (Shopify), ridesharing (Lyft), online payments (Stripe), work management platform (Asana) and an online real estate broker (Redfin). The list goes on and on.
When did all of the tech layoffs start?
Roger Lee, creator of Layoffs.fyi, has been following layoffs in tech since 2020 as startups started laying off employees during the early days of the pandemic. According to Lee, the pandemic created an opportunity for people to increasingly turn to the Internet for work, shopping and socializing. In response, tech companies went on a hiring spree to meet consumer demand.
This growth in tech employment started in late 2020 and lasted through 2021. At the same time the Federal Reserve’s policy slashed interest rates throughout 2021, which enabled tech companies to raise capital and invest in growth, Lee said. But both trends reversed in early 2022.
The majority of layoffs at the beginning of 2022 came from startups, according to Lee. But in late 2022 and early 2023 it started to creep into bigger tech, as well. Lee also said that “Big Tech” layoffs like those seen at Meta and Twitter “present a unique opportunity to recruit a caliber of talent that would've previously been impossible to attract.”
(Photo by Justin Sullivan/Getty Images News via Getty Images)
