Layoff tsunami: Tech companies will lay off hundreds of employees

Layoff tsunami continues to affect the tech industry. Mass layoffs have also become common these days. More tech companies have laid off hundreds of employees in major cost-cutting measures.

Which are the latest companies to fire workers? How many workers are impacted by the latest round of layoff? Will the workers get any compensation? 

Tech layoffs

Qualtrics layoff

Qualtrics – an American experience management company based in Seattle, Washington, and Utah – is set to fire around 780 employees in order to reduce costs. Zig Serafin, the Chief Executive Officer (CEO) of Qualtrics, said that the layoffs were part of a major restructuring initiative adopted by the company.

Bird layoff

Bird Global, Inc., an American micro mobility company based in Miami, will also conduct another round of layoffs. However, it is still not known how many employees will be affected by the layoff. 

In 2022, Bird laid off around 23 per cent of its workforce. We think that the company might fire 20 per cent of its workforce this time.

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Hopper layoff

Hopper, Inc. a travel booking app and online travel company, has fired nearly 250 employees in a major cost-cutting measure. The company said that the layoff took place due to “organizational changes.”

The company said in a statement, “We made the difficult decision to eliminate a number of roles as part of this reorganization. We are deeply grateful to the colleagues we had to part with for their hard work and dedication.”

Tech layoffs 2023

According to data, so far this year, over 1,043 tech companies have laid off around 342,671 employees. US-based tech companies laid off more than 12,000 workers. In just a few days into the New Year 2023, tech companies laid off more than 28,000 workers. 

In July, around 9,991 workers were laid off. Last month, Pegasystems, an American software company, also laid off about 240 employees. Epic Games, an American video game and software developer company, also laid off 800 workers.