"Tech companies are planning to lay off 141,159 jobs this year so far, per the report, up from 120,470 over the same period in 2024. And it likely may not look much better in the near future, either. "It's possible with rate cuts and a strong showing in November, companies may make a late-season push for employees," the report reads, "but at this point, we do not expect a strong seasonal hiring environment in 2025.""
"The analysis was spotted by SF Gate, which reported that tech company job cuts in the US are at their highest levels since 2020, when the COVID-19 pandemic ushered in a short-lived recession. For the month of October, however, the analyst report notes that total layoffs haven't been this high since 2003 - in other words, not even the global financial crisis was this much of a bloodbath."
By 2025, booming computer science enrollments have created a large oversupply of graduates entering a weak tech job market. October saw 33,281 tech layoffs within the sector, a steep jump from 5,639 in September. Year-to-date planned tech cuts reached 141,159, up from 120,470 over the same period in 2024. October total layoffs across industries hit levels not seen since 2003, and tech job cuts in the US are the highest since 2020. Contributing causes include post-pandemic hiring corrections, AI adoption, softening spending, rising costs, and hiring freezes.
Read at Futurism
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