---
title: Tech Layoffs Q2 Update
description: Get the latest Q2 2023 update on tech layoffs and uncover key industry trends. Understand the factors driving workforce changes and how businesses are adapting.
---

[News](https://alten.capital/blog)

# [Tech Layoffs Q2 Update](https://alten.capital/blog/tech-layoffs-q2-update)

 Written by [Alten Capital](https://alten.capital/blog/author/alten) | July 6, 2023

Alten Capital’s focus on business services and technology services companies makes us examine the talent market, especially for technology professionals.

We saw a spike in tech layoff announcements in early 2023, and we started tracking this data from Layoffs.fyi ([https://layoffs.fyi/](https://layoffs.fyi/)). Below is a Q2 update.

Q1 2023 seems to have been a peak in tech layoff announcements worldwide, as Q2 shows less than 30% of employees laid off (~44,000 in Q2 vs. ~160,000 in Q1) from roughly half the number of companies (~270 in Q2 vs. ~590 in Q1). The absolute numbers may be off month-to-month and quarter-to-quarter, but the data trends are relevant and can be insightful.

Our Q1 update ([https://alten.capital/blog/tech-layoffs-q1-update](https://alten.capital/blog/tech-layoffs-q1-update)) mentioned that the tech industry typically reacts promptly to macro changes. This was reflected in quick actions to right-size their teams in Q1 based on macro headlines vs. Q2, which showed less layoff activity.

On a monthly basis, we have seen a lower number of tech employees laid off every month since January 2023. The trend is encouraging.

Overall, unemployment in the US ticked up from 3.5% at the end of Q1 to 3.7% currently. Employment continues to be solid.

In summary, organizations continued to scale back their right-sizing plans during Q2. At Alten Capital we focus on scaling talent-based business services and technology services companies. Please reach out to us to explore partnership opportunities.

[View full post](https://alten.capital/blog/tech-layoffs-q2-update)

```json
{
  "@context" : "http://schema.org",
  "@type" : "BlogPosting",
  "author" : {
    "@type" : "Person",
    "name" : "Alten Capital"
  },
  "dateModified" : "2024-10-15T20:26:39.330Z",
  "datePublished" : "2023-07-06T02:05:43Z",
  "headline" : "Tech Layoffs Q2 Update",
  "image" : {
    "@type" : "ImageObject",
    "height" : 1232,
    "url" : "https://19583912.fs1.hubspotusercontent-na1.net/hubfs/19583912/layoffs-cover.png",
    "width" : 2329
  },
  "mainEntityOfPage" : "https://alten.capital/blog/tech-layoffs-q2-update",
  "publisher" : {
    "@type" : "Organization",
    "logo" : {
      "@type" : "ImageObject",
      "height" : 60.0,
      "url" : "https://19583912.fs1.hubspotusercontent-na1.net/hubfs/19583912/Alten-Capital-Logo-1.svg",
      "width" : 182.92683
    },
    "name" : "Blog"
  }
}
```