“Layoffs soared 98% in 2023 with employers in cost-cutting mode”
January 10, 2024
“…In 2023, companies planned 721,677 job cuts, a 98% jump from 2022, according to a new report from professional outplacement firm Challenger, Gray, and Christmas. The number marks the highest annual total since 2020.
The year included several high-profile tech layoffs from names like Meta (META) and Amazon (AMZN), who expanded during the earlier stages of the pandemic only to slash jobs later. Mark Zuckerberg even referred to 2023 as Meta’s “year of efficiency.”
While companies including Spotify, Hasbro, Amazon, and Citigroup laid off employees last holiday season, the Challenger report showed that the biggest increases in job cuts last year took place in the first half of 2023…”