Layoffs in tech are nothing new, but an industrywide trend took off in 2022 as companies reconciled a return to many pre-pandemic consumer behaviors after hiring sprees became commonplace early in the COVID era. In 2023, layoffs across the sector have only accelerated. As of November 2023, tech firms had laid off a total of more than 240,000 employees this year, up 50% from job reductions the year before.