Job losses in the tech industry are coming fast and in large numbers

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In the past month alone, nearly 50,000 jobs have been cut in the technology sector.

Tech companies large and small have been recruiting massively in recent years due to the huge demand for their products, software and services with millions of people working remotely.

But even with all the layoffs announced in recent weeks, most tech companies are still much bigger than they were three years ago. Here’s a look at some of the companies that have announced layoffs so far.

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August 2022

Snap: The parent company of the social media platform Snapchat said it would let go of 20 percent of its staff. Snap’s workforce has grown to more than 5,600 in recent years, and the company said at the time that even after laying off more than 1,000 people, its workforce would be larger than a year earlier.

Robinhood: The company, whose app helped bring a new generation of investors to market, announced it would cut its workforce by about 23 percent, or about 780 people. In an earlier round of layoffs last year, 9 percent of the workforce was cut.

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November 2022

Twitter: About half of the social media platform’s 7,500 employees were laid off after it was acquired by Tesla billionaire CEO Elon Musk.

Lyft: The ride-hailing service said it was cutting 13 percent of its workforce, nearly 700 employees.

Meta: Facebook’s parent company laid off 11,000 people, about 13 percent of its workforce.

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