Historic tech layoffs mirror investors’ confidence slump

The total number of workers laid off in the global tech industry so far this year is over 95 percent of the total number lost in the whole of 2022, a development, experts say, indicates that confidence is yet to return to the beleaguered space.

Data from Layoffs.fyi, a website that tracks layoff activities across the tech industry, show that 155,462 workers have become unemployed as a result of job cut decisions announced by 539 companies between January 1 and March 29, 2023.