Tech jobs were hit the hardest by layoffs last year
Publishing timestamp: 2023-01-05 14:59:24
Summary
The technology industry led job cuts in 2022, with more than 97000 announced across the sector, according to a report released Thursday from outplacement services firm Challenger, Gray & Christmas. This is a 649% increase from 2021. Overall, employers across industries announced plans to cut nearly 364000 jobs, a 13% increase from the year prior. Amazon and Salesforce have both announced job cuts, and the fintech industry has been hit especially hard as cryptocurrencies have faced a downturn and recent scandals have rocked the sector. Cost cutting was cited as the top reason for job reductions, and market or economic conditions were cited in connection to nearly 60000 of layoffs.
Sentiment: NEGATIVE
Keywords: social media, amazon.com inc, breaking news: technology, business news, markets, technology, salesforce inc, mobile,
Source: https://www.cnbc.com/2023/01/05/tech-jobs-hit-the-hardest-by-layoffs-last-year-report.html