News > Tech layoffs surpass Great Recession levels, set to get worse in early 2023

Tech layoffs surpass Great Recession levels, set to get worse in early 2023

The massive layoffs by the tech companies this year alone have surpassed the levels from the Great Recession the world went through 2008-2009 that began with Lehman Brothers collapse. In 2008, tech companies laid off about 65,000 employees, and a similar number of workers lost their livelihoods in 2009. By comparison, 965 tech companies have laid off more than 150,000 employees this year globally, surpassing the Great Recession levels of 2008-2009.