#tech job cuts

Both 2022 and the first half of 2023 have seen several layoffs and job cuts in the tech industry. While layoffs and job cuts in any industry are not unexpected (especially with global inflation and a looming recession), what makes these tech layoffs so shocking is the fact that they have happened not just to smaller tech startups or tech businesses, but also to the biggest tech companies in the world. The job cuts within Yahoo were allegedly due to their business ad tech unit underperforming in terms of profit and expectations. Vimeo Video-hosting and sharing site Vimeo also entered 2023 with job cuts that totaled 11% of its overall staff, as reported by TechCrunch. According to the report, Vimeo CEO Anjali Sud cited the "uncertain economic environment" as the main rationale for the significant number of job cuts. We also saw the fallout from unscrupulous actors in the industry, and there could still be further contagion.” Disney Media and innovative tech giant Disney also cut over 7,000 jobs (around 3% of its workforce) just this February. We can see that readjusting to a post-COVID-19-pandemic world and the current decline in the worldwide economy were common threads that prompted significant job cuts or layoffs in these tech companies. Read more in our articles including "Big Tech Layoffs of 2022-2023" and "More layoffs as both Disney and Yahoo announce significant job cuts".