Tech sector sees major decrease in layoffs, but job cuts persist
Date
1/16/2025 7:07:16 AM
(MENAFN) Layoffs in the technology sector dropped by 42 percent year-on-year in 2024, according to data compiled by Anadolu from Layoffs.fyi, a platform tracking employment reductions in tech since 2019.
The data revealed that 549 tech companies globally let go of 152,000 employees last year, a sharp decrease compared to 2023, when 1,193 firms laid off 264,000 workers.
Despite the decline, layoffs persist in 2025. As of January, 13 tech companies have dismissed a total of 1,390 employees, significantly fewer than January 2023, when 90,000 workers were let go, or even January 2024, when 34,000 employees were laid off.
US-based tech giant Meta, which owns Instagram, Facebook, and WhatsApp, recently announced plans to reduce its workforce by 5 percent. The company said the decision was part of efforts to refine performance management and hire new talent for vacant roles.
As part of its restructuring, Meta has decided to discontinue its diversity, equity, and inclusion (DEI) initiatives as well as its fact-checking programs in the United States.
The cessation of the fact-checking initiative will also affect Meta's fact-checking partners. However, CNN reported Tuesday that the timeline for ending this program remains uncertain.
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