--- title: "Big Tech Announced More Than 45,000 Layoffs in Recent Months" description: "The tech industry appears to be bearing the brunt of 2022's economic downturn, with recent and planned layoffs totaling in the tens of thousands." date: "2022-11-09" modified: "2022-11-09" authors: - name: "Noor Al-Sibai" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/nooralsibai" url: "https://futurism.com/the-byte/45000-tech-workers-layoffs" categories: - "Future Society" tags: - "economics" - "Stocks" - "tech industry" - "the digest" --- # Big Tech Announced More Than 45,000 Layoffs in Recent Months ![The tech industry appears to be bearing the brunt of 2022's economic downturn, with recent and planned layoffs totaling in the tens of thousands.]() *\Image: Getty Images/Futurism\* ## Getting Laid (Off) The tech industry appears to be bearing a disproportionate toll from 2022's economic downturn, with recent and planned layoffs at companies including Twitter, Meta-formerly-Facebook, and Intel bringing the total number of sacked tech workers to more than 45,000. Per an analysis of the numbers following the [11,000-strong layoffs at Meta]() that CEO Mark Zuckerberg announced this morning, the number of tech workers laid off (or about to be laid off) this year is in excess of 45,500 — even as the economy itself [appeared to gain more jobs]() than expected last month. While [Twitter's layoffs]() under new owner Elon Musk have garnered ample coverage, huge staff-cutting measures at other companies are leaving their marks as well. To date, the largest single cut is set to take place at Intel, with 20 percent of staff facing the copping block [per a report from *Bloomberg*]() last month. With more than 120,000 employees, that number would be more than 24,000 — though, to be fair, it hasn't actually happened yet. https://twitter.com/WillOremus/status/1590331209078697984 ## Downtrodden As [*Insider* reported]() at the end of October, these mass layoffs aren't exactly shocking given how earnings across the tech industry have weakened substantially amid this year's economic downturn. The greatest of these earning losses, of course, have [occurred at Meta](), where earlier this year, investors eschewing stock [broke the industry's record]() a for single-day selloff. But of the companies that have laid off large percentages of their workforces so far, it's clear that stock losses predicated the firings, with [Intel experiencing a year-long downward trend]() alongside [Lyft](), [Shopify](), [Snapchat](), and other tech companies that have done layoffs in recent months. Mass job losses amid economic depression are nothing new, and many of the people getting laid off at these tech companies were already highly-paid and will likely receive competitive severance packages. Nevertheless, it's a jarring trend — and there's no telling what this will do to the industry as a whole or the job force surrounding it now that it has upwards of 50,000 new people vying for work. **More tech stonks:** [*If You Bought $1,000 in Tesla Stock in January, This Is How Much You'd Have Now*]() ## Author At Futurism, I've often been drawn to unpacking the narratives that underlie technological, scientific and medical progress, with a special interest in areas of conflict and ambiguity that end up setting agendas and steering the fates of both elites and the hoi polloi. I'm a committed generalist, but I often find myself returning to work involving NASA and the private space sector, the effects of AI on media and society, and the mechanics of the pharmaceutical industry, with a specific focus on the spread of GLP-1 drugs like Ozempic and Wegovy. Prior to Futurism, I worked for publications ranging from Media Matters and Truthdig to Raw Story and Bustle. I'm also the author of "Myspace Scene Queens," a 2024 title in Instar Books' acclaimed "Remember the Internet" series. My work at Futurism has been cited by outlets including the New Yorker, Slate, Nieman Lab, the Verge, the MIT Technology Review, the Sunday Times, and the Daily Beast. I grew up in North Carolina, attended the University of North Carolina at Asheville, and now live in Brooklyn, New York. In my free time, I'm an avid reader and music fan; you can probably find me at a local poetry reading, concert, underground rave, or DJ set. I'm the proud parent of an ineffable orange cat named Mee-Mow. ### Author social links [Bluesky]()