2023 Tech Layoffs on Pace to Surpass Last Year’s by 300 Percent

A pedestrian walks past the Meta logo in front of its headquarters in Menlo Park, Calif., on Oct. 28, 2021. Meta was formerly named Facebook Inc. Justin Sullivan/Getty Images

Roughly 109,000 technology industry employees from 392 companies have been laid off since the start of the year, according to the industry employment tracking website Layoffs.Fyi.

At the current pace, about 650,000 tech employees could lose their current jobs, which is about a 300 percent increase from 2022, when 160,997 people got pink slips, according to Layoffs.Fyi.