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On March 13, the fintech company Stash, laid off 25% of its staff or about 80 people. The company had made multiple cuts to its workforce since early 2022.
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On March 8, Inscribe.ai, a fraud detection software powered by AI, announced it was laying off 40% of its employees.
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On March 6, Meta, which owns Facebook and Instagram, laid off less than 50 employees in a reorganization of Facebook Messenger.
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On March 3, Deadspin, a sports media site owned by G/O Media (formerly Gawker Media), laid off its entire 11-person staff. The layoffs were part of a sale to a European startup digital media company called Lineup Publishing.
Tech companies have been consistently laying off employees since late 2022.
As of March 15, 207 tech companies have laid off 50,158 workers in 2024, according to layoffs.fyi, which tracks tech layoffs.
A total of 262,682 workers in tech lost their jobs in 2023 compared with 164,969 in 2022. The volume of layoffs in 2023 — a total of 1,186 companies — also surpassed 2022, when 1,061 companies in tech laid off workers — and that total was more than in 2020 and 2021 combined.
Amazon saw the most workers laid off in 2023 (27,410 workers) followed by Meta (21,000), Google (12,115) and Microsoft (11,158).
These layoffs are a peculiar outlier in an otherwise strong employment environment: The unemployment rate has hovered between 3.4% and 3.9% since Dec. 2021, Bureau of Labor Statistics data shows.
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