The recent wave of layoffs has been driven by several factors, including the economic slowdown, rising inflation, and the long war in Ukraine. These factors have forced businesses to cut costs. In the technology sector, which has been particularly hard-hit by layoffs, companies have had to adjust their business models due to increased competition and declining growth rates.
The present situation of layoffs is that they are still occurring, although at a slower rate. 21% of companies expect they may have layoffs in 2024.
I have gone through a great deal of research to compile all the important facts and figures about layoffs in the United States and around the world. You will find all of the findings in this post.
Layoff Statistics 2024 (Top Picks)
- Over 1.64 million people were laid off in the United States In 2023.
- Job Cuts in America dropped to 49% in June 2023.
- More than 224,503 employees in tech companies have been laid off in mass jobs in 2023.
- In 2024, 21% of companies are expected to lay off their employees.
- The number of employees who had been laid off by tech startups in the retail sector in 2022 exceeded 20 thousand. It was the most affected sector of all.
- 2020 was the worst year for Layoffs, with 41.7 million people in the United States losing their jobs after the Covid-19 pandemic hit.
- 1.46 million layoffs were recorded in the trade and transportation industry between the time period of June 2021 and June 2022.
- 61% of adults between the ages of 18 to 34 reported that they dealt with tremendous pressure and lay-off anxiety.
- Women are at a 25% lesser risk of getting laid off by companies.
- 23,158 layoffs were recorded in the fourth quarter of 2022.
- 46% of the employees reported that they were unprepared for the layoffs and separations.
Mass Layoffs In Recent Times
Major corporations have been laying off their workforce in recent times. Here are some of the highlights from the layoff scenario around the globe.
- Google’s parent company, Alphabet, laid off 12,000 people in January 2023. The Google layoffs are the company’s largest ever, accounting for 6% of the company’s global personnel.
- Swedish tech giant Ericsson is laying off 8,500 employees globally as part of an $860 million cost reduction plan, marking the largest layoff round the company has undertaken in over five years.
- Microsoft CEO Satya Nadella announced in a memo that the company is making changes that will result in 10,000 jobs being eliminated through the end of March 2023.
- Amazon CEO Andy Jassy announced on January 4, 2023, via an internal memo, that the company plan to cut around 18,000 jobs globally in the corporate and technology sector.
- Disney CEO Bob Iger announced on February 8, 2023, that the company plans to lay off 7,000 jobs. That is equivalent to more than 3% of the company’s global workforce.
Here is a table showing mass layoffs in 2023:
| Company | Workforce Being Laid Off | Time |
| ClickUp | 10% | July 2023 |
| Plex | 20% | June 2023 |
| Spotify | 2% | June 2023 |
| Taxfix | 20% | May 2023 |
| Shopify | 20% | May 2023 |
| 3.6% | May 2023 | |
| Nuro | 30% | May 2023 |
| Dropbox | 16% | April 2023 |
| Clubhouse | Over 50% | April 2023 |
| Accenture | 2.5% | March 2023 |
| Y Combinator | 20% | March 2023 |
| Roku | 6% | March 2023 |
| 10% | February 2023 | |
| Disney | 3% | February 2023 |
| Zoom | 15% | February 2023 |
| Dell | 5% | February 2023 |
| PayPal | 7% | February 2023 |
| Hubspot | 7% | February 2023 |
| Twillo | 17% | February 2023 |
| Roomba | 7% | February 2023 |
| Spotify | 6% | January 2023 |
| IBM | 1.5% | January 2023 |
| Coinbase | 20% | January 2023 |
| Alphabet (Google) | 6% | January 2023 |
| Gemini | 10% | January 2023 |
| Microsoft | 5% | January 2023 |
| Amazon | 2% | January 2023 |
| Vimeo | 11% | January 2023 |
| Salesforce | 10% | January 2023 |
| Goldman Sachs | 8% | January 2023 |
Now that we have seen some of the major layoffs in 2023. Let us have a look at 2022 layoffs.
Here is a table showing mass layoffs in 2022:
| Company | Share of Workforce Being Laid Off | Time |
| Cisco | 5% | December 2022 |
| Amazon | 1% | November 2022 |
| Meta | 13% | November 2022 |
| 50% | November 2022 | |
| DoorDash | 6% | November 2022 |
| Redfin | 13% | November 2022 |
| Candy Digital | 33% | November 2022 |
| Peloton | 12% | October 2022 |
| Zillow | 5% | October 2022 |
| Snapchat | 20% | September 2022 |
| Docusign | 9% | September 2022 |
| Lyft | 2% | July 2022 |
| Opensea | 20% | July 2022 |
| Outbrain | 3% | July 2022 |
| Masterclass | 20% | June 2022 |
| Substack | 14% | June 2022 |
| Bird | 23% | June 2022 |
| Ninantic | 8% | June 2022 |
| Superhuman | 22% | June 2022 |
| Cameo | 25% | May 2022 |
| Robinhood | 9% | April 2022 |
| Virgin Hyperloop | 50% | February 2022 |
| Peloton | 20% | February 2022 |
General Layoff Statistics
Layoff statistics are no shock with the increasing global recession. The layoff has a changing curve in each quarter of the year. However, with the expected recession to hit worldwide, it is estimated that the layoff percentage of employees will increase. Let us take a look at the general layoff statistics that you must know.
- There were 15.4 million layoffs in the United States in 2022.
Here is a table showing layoffs in the United States over the years:
| Year | Layoffs |
| 2023 | Over 218,110 |
| 2002 | 23.6 million |
| 2003 | 24.3 million |
| 2004 | 23.7 million |
| 2005 | 23.7 million |
| 2006 | 22.3 million |
| 2007 | 23.5 million |
| 2008 | 25.4 million |
| 2009 | 27.5 million |
| 2010 | 22.6 million |
| 2011 | 22.1 million |
| 2012 | 22.2 million |
| 2013 | 21 million |
| 2014 | 21.1 million |
| 2015 | 21.8 million |
| 2016 | 21.2 million |
| 2017 | 21.6 million |
| 2018 | 21.8 million |
| 2019 | 21.8 million |
| 2020 | 41.7 million |
| 2021 | 17 million |
| 2022 | 15.4 million |
- 40% of Americans reported that they have been laid off or terminated from their job at least once in their career.
- 48% of Americans claimed to have layoff anxiety.
- It was reported that 28% of Americans had been laid off in the past two years.
- 142,942 people have been laid out from the tech companies in 2022.
- 16,223 employees were laid off from tech companies in the month of July 2022.
- 160 companies laid off employees in July 2022, while 193 tech companies did so in June 2022.
- The highest number of employees was laid out from the retail industry in the year 2022, while in the year 2021, the highest laid of employees was from the consumer industry.
Here is a table showing the number of tech startup employees laid off worldwide by industry:
| Industry | 2022 | 2021 | 2020 |
| Retail | 20,014 | 1,088 | 8,002 |
| Consumer | 19,856 | 3,600 | 6,063 |
| Transportation | 15,977 | 200 | 14,656 |
| Healthcare | 15,058 | 0 | 1,125 |
| Finance | 12,899 | 0 | 8,624 |
| Food | 11,288 | 2,644 | 6,218 |
| Real Estate | 9,932 | 2,900 | 3,699 |
| Education | 8,728 | 1,943 | 685 |
| Crypto | 8,263 | No Data Available | 91 |
| Fitness | 5,546 | 0 | 3,142 |
| Infrastructure | 4,916 | 160 | 377 |
| Travel | 1,637 | 0 | 13,983 |
| All Others | 25,983 | 3,288 | 14,333 |
- Technology companies have overhired employees, and now the employees in the tech companies are at higher risk of getting laid off.
Source: Zippia, Investopedia, CNBC, mondo, Statista.
Layoff Statistics Over Time
The Layoff records over the past years indicate the statistics related to the upcoming numbers of layoffs in various industries. Here are a few statistics related to layoffs over time.
- In the year 2009, due to the crash of the housing market, there were 11,824 layoff events in the US which led to a hard time for the residents.
- In the year 2005, there were only 884.6K separations and the least number of layoffs in recent years.
- In August 2020, it was reported that there were 4.6 million job separations in the US.
- The following table depicts the details of the layoff events and the separations in the jobs that occurred over the past years.
| Year | Separations | Layoff Events |
| 2001 | 1.52M | 7,375 |
| 2002 | 1.27M | 6,337 |
| 2003 | 1.21M | 6,181 |
| 2004 | 993.9K | 5,010 |
| 2005 | 884.6K | 4,881 |
| 2006 | 935.9K | 4,885 |
| 2007 | 965.9K | 5,363 |
| 2008 | 1.51M | 8,259 |
| 2009 | 2.10M | 11,824 |
| 2010 | 1.25M | 7,247 |
| 2011 | 1.11M | 6,596 |
| 2012 | 1.27M | 6,596 |
- In the year 2005, the number of layoffs was less than 900,000.
Source: CNBC, Investopedia, Zippia, Layoffs.FYI.
Industrial Layoff Statistics
The significant impacts of layoffs are seen majorly in different industrial areas. Various industries are affected in different ways. Here are a few statistics related to industrial layoffs that will help you to know the latest trends in the industry.
- It was reported that between the time period of June 2021 and June 2022, there were 7.736 million layoffs in the private industry.
- The industry that reported the most layoffs in the year 2022 was the one that provided professional and business services. It reported 2.12 million layoffs.
- There was 3% of the layoffs recorded in the arts, entertainment, and recreation industry, which was the highest layoff rate.
- The following table indicates the total layoffs recorded between June 2021 and June 22 in different industrial sectors:
| Industry | Total Layoffs |
| Mining and logging | 24K |
| Construction | 783K |
| Accommodation and food services | 687K |
| Arts, entertainment, and recreation | 366K |
| Manufacturing | 603K |
| Durable goods | 323K |
| Leisure and hospitality | 1.05M |
| Health care and social assistance | 705K |
| Nondurable goods | 281K |
| Trade, transportation, and utilities | 1.46M |
| Educational services | 136K |
| Education and health services | 841K |
| Wholesale trade | 214K |
| Retail trade | 834K |
| Professional and business services | 2.12M |
| Real estate and rental and leasing | 80K |
| Transportation, warehousing, and utilities | 414K |
| Information | 159K |
| Finance and insurance | 160K |
| Financial activities | 241K |
- The industry with the lowest layoff rates reported was the state and the local education industry. Its layoff rate amounted to only 0.3%.
- The trade, transportation, and utilities industry reported a layoff of 1.46 million.
- There were only 1.27 million total layoffs in the year 2012, which was five times less than the layoffs recorded between June 2021 and June 2022.
- The leisure and hospital had layoff rates of 1.05 million.
Source: Zippia, Investopedia, CNBC, Statista.
Regional Layoff Statistics
Various regions are affected differently by the recession and layoffs. Some regions are highly affected and report an increase in the layoff numbers, while some regions reported a decrease in the layoff numbers. Let us take a look at the regional statistics.
- The Southern American region had the most layoffs between the years 2021 and 2022, which was reported to be 3.25 million.
- The least layoffs were reported from the northern region between the years 2021 and 2022, which accounted for 1.39 million layoffs.
- The midwest has the highest layoff rate of 1%, as of record in June 2022.
- The southern part has layout rates that are twice compared to all other regions of the US.
- The following tale depicts the details of the layoffs that occurred in the years 2021 and 2022:
| Region | Total Layoffs |
| Northeast | 1.39 million |
| South | 3.25 million |
| Midwest | 1.74 million |
| West | 1.79 million |
Sources: CNBC, Investopedia, Zippia, Statista.
Startup Layoff Statistics
Most layoffs occur in startup companies. Hence startups are more vulnerable and at higher risk of being laid off. In the past years, not only were the employees laid off but the startup companies as a whole were reported to be laid off. Let us take a detailed look at the stats related to the startup layoffs.
- The highest layoffs in the startup industry were observed in the second quarter of the year 2020, which led to the letdown of 60,000 new employees.
- Quarter two and quarter three of the year 2022 led to the layoff of 37,463 and 23,158, respectively.
- The following table indicates the number of layoff events and the layoffs reported in different quarters from the year 2020 to the year 2022:
| Year | Layoffs | Layoff Events |
| Q1 2020 | 9,628 | 121 |
| Q2 2020 | 60,122 | 427 |
| Q3 2020 | 9,690 | 61 |
| Q4 2020 | 1,509 | 23 |
| Q1 2021 | 6,928 | 21 |
| Q2 2021 | 2,695 | 6 |
| Q3 2021 | 2,108 | 9 |
| Q4 2021 | 3,292 | 6 |
| Q1 2022 | 9,829 | 31 |
| Q2 2022 | 37,463 | 289 |
| Q3 2022 | 23,158 | 236 |
- The most layoffs were reported from the food industry in the year 2022, which accounted for up to 10,000 employees losing their jobs.
- 28% of the startups in the food industry failed in the year 2022.
- The lowest layoffs were observed in the construction industry, with just 210 employees losing their jobs.
- It was reported that the layoffs between the year 2020-2022 decreased by 95% in the travel industry.
- The following table indicates the details about the layoffs observed in startups of various industries:
| Industry | Total Startup Layoffs |
| Food | 10,896 |
| Transportation | 8,516 |
| Construction | 210 |
| Travel | 668 |
| Consumer | 1,806 |
| Retail | 6,385 |
| Finance | 6,186 |
| Fitness | 4,141 |
| Crypto | 3,810 |
| Education | 4,149 |
| Real Estate | 5,505 |
| Healthcare | 6,359 |
- In the year 2020, there were 13,983 startups in the travel industry, while in the year 2022, only 668 startups survived.
- There are only 668 start-ups in the construction industry, amounting to the lowest number of startups.
- As of the year 2022, 28% more startup failures were reported in the food industry than in the transportation industry.
Source: Investopedia, Investopedia, Zippia Crunchbase news.
Layoff Statistics: Demographics
Layoff affects different age groups in unique ways. It also has different effects on the genders. The level of education that a person has completed indirectly affects his layoff chances due to the ability he possesses. The following section includes some interesting statistics related to the demographic aspect of the layoffs.
- 61% of adults between the ages of 18 and 34 have layoff anxiety and deal with great pressure.
- There are 41% of adults above the age of 35 with layout anxiety.
- 51% of the employees in the age group of 18 to 34 reported that they felt unprepared for a layoff.
- It was reported that only 36% of the employees with a college degree were laid off.
- 45% of the mere reported being laid off, while only 36% of the women reported that they were laid off.
- 12% of the men have been laid more than two times.
- Only 4% of the women reported that they were laid off more than two times.
- Men are 25% more likely to get laid off as compared to women.
- 53% of the employees with only a high school degree have been laid off.
- 52% of the employees with some college degrees have been laid off.
- 30% of the employees over the age of 55 feel unprepared to be laid off.
- Overall, 46% of the employees have reported that they are unprepared for being laid off.
Sources: Zippia, Crunchbase news, CNBC, Statista.
Tech Industry Layoff Statistics
The biggest layoffs were observed in the tech industry. With the emerging advances in technology and increasing demand for employees in tech companies, they often over-hire. This leads to the exposure of more tech employees to the risks of being laid off. Post covid there have been advancements in the hiring rates as well as an increase in the layoff rates. Here are a few stats related to the layoffs in tech companies and their effect on the employees.
- It was reported that Meta has laid off 13% of the employees since the pandemic in the SF Bay Area.
- Amazon has laid off 3% of its employees from the Seattle region.
- 14% of Uber employees have been laid off from the SF Bay areas.
- 25% of the employees were laid off by Uber from Amsterdam.
Sources: Layoffs.FYI, CNBC.
