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More than 56,000 tech workers have lost their jobs since the start of the year, while experts predict this could rise to more than 150,000 by the end of 2024.
The tech industry has been plagued by layoffs since early 2023, when some of the world’s largest companies began reducing their teams due to economic uncertainty.
But figures suggest this trend has continued into 2024, with an estimated 56,858 people losing their jobs so far.
Economic uncertainty: The tech industry has been plagued by layoffs since early 2023
According to job tracker site Layoffs.fyi, more than 2,000 of these people worked for British technology companies.
But Dan Ives, a technology analyst at Wedbush, estimates that there will be 150,000 layoffs globally by the end of this year as the sector “goes through a culling process to become more efficient.”