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MarketWatch First Take: More than 25,000 global tech workers laid off in the first weeks of 2023, says layoff tracking site

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More than 25,000 global technology sector employees have been laid off in the first few weeks of 2023, according to data compiled by the Layoffs.fyi website.

The data suggest 2023 is on pace to surpass 2022 for global tech redundancies, with 101 tech companies laying off 25,436 employees in the first few weeks of the year. Last year, 1,024 tech companies laid off 154,336 employees, according to Layoffs.fyi.

Layoffs.fyi was set up by San Francisco-based startup founder Roger Lee to track layoffs during the COVID-19 pandemic. Lee is the co-founder of Human Interest, a digital 401 (k) provider for small businesses and Comprehensive, an employee compensation platform.

Here are the companies in the layoffs spotlight: Coinbase joins Cisco, Amazon, Salesforce, Intel, Google, HP

Major U.S. tech companies have been in the layoffs spotlight recently.

In early January Amazon.com Inc. 
AMZN,
-2.11%

said that layoffs, which were first announced last year, will impact more than 18,000 employees, more than originally expected.

In a filing with the Securities and Exchange Commission on Jan. 4, Salesforce Inc. 
CRM,
-0.70%

said it will lay off 10% of its workforce as part of a restructuring plan. As of February 2022, the company, which provides customer-relationship-management software, had over 78,000 employees globally.

Last week crypto exchange Coinbase Global Inc. 
COIN,
+8.32%

announced 950 job cuts in an attempt to cut costs.

Additional reporting by Emily Bary and Ciara Linnane.

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