Here’s an Updated Layoff Tracker for Startups and Big Tech

There’s been a lot of chatter lately about layoffs in the tech industry. Should you be concerned? Where can you track which companies are laying people off?

First, it’s important to note that the tech industry’s hiring remains strong overall. Tech unemployment in July stood at 1.7 percent, down from 1.8 percent the month before. The tech industry has added 143,700 jobs in 2022, a year-over-year increase of 55 percent. All industry sectors added another 239,000 tech positions in July alone.

So that’s good news—and the hiring isn’t limited to technologists with lots of experience. In its most recent job report, CompTIA found that one in five tech job positions called for two years or less of experience, while roughly half wanted technologists with three to five years.

However, you’re no doubt seeing a lot of headlines about layoffs or hiring slowdowns. Much of this action seems to be taking place at either the big tech giants (i.e., Oracle and Meta) or smaller startups (particularly in the fintech segment). Many of these companies hired exuberantly over the past few years, especially startups that received lots of investment and venture funding. At the biggest tech giants, executives’ fears about a possible recession are running head-first into their need to keep funding next-generation projects to the tune of billions of dollars; given that squeeze, it’s perhaps inevitable that hiring would be cut back, and layoffs potentially initiated.

If you’re curious about which companies are laying folks off—and the size of those layoffs, Blind (which anonymously surveys technologists about a range of issues) has launched a layoff tracker. As you can see from the updated rolls, some of these layoffs are due to restructuring; many are cost-cutting measures; and others are due to missed financial targets. Keep in mind that many companies’ reasons for cuts are very specific to their mission and strategy; on a macro level, tech hiring remains robust.