We track the worldwide tech talent market and continue to see a stabilized level of companies announcing layoffs.
Layoffs.fyi (https://layoffs.fyi/) has been compiling data on tech layoffs since COVID, and the portal offers a consolidated view of this info. During Q3 2024, we saw a record-low number of companies announcing layoffs (~117) and the lowest number of affected employees this year (~38,000).
On a monthly basis, 2024 started with a peak of announcements, with September showing the lowest number of companies announcing and employees being affected.
The COVID tech demand we saw from 2020 to 2021 led to enterprise right-sizing efforts in late 2022 and early 2023, where we now seem to find a stable baseline of tech layoffs in general.
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