In graph form, by the month, with attendant logos for each business.
Why are Tech Companies Laying Off so Many People?
The stated reasons for letting so many workers go are economic uncertainty (external factors) and poor performance (internal factors).
Goldman Sachs Research points out that “higher interest rates and tighter financial conditions disproportionately impact the sector because tech company profits are typically expected further out in the future and therefore subject to greater duration risk.”
Shrinking advertising budgets and the implosion of the cryptocurrency market are also factors that may have influenced the decision to cut headcounts. Twitter and Snapchat fall into the former bucket, while Coinbase and Kraken fall into the latter.
