{"id":206582,"date":"2022-11-15T15:15:16","date_gmt":"2022-11-15T14:15:16","guid":{"rendered":"https:\/\/sftarticles.wpenginepowered.com\/en\/?p=206582"},"modified":"2025-07-01T20:20:31","modified_gmt":"2025-07-02T03:20:31","slug":"is-it-as-bad-as-it-looks-for-big-tech","status":"publish","type":"post","link":"https:\/\/cms-articles.softonic.io\/en\/is-it-as-bad-as-it-looks-for-big-tech\/","title":{"rendered":"Is it as bad as it looks for Big Tech?"},"content":{"rendered":"\n

You\u2019d be forgiven for mistaking the tech sector for a dumpster fire right now. Even just a cursory glance at some of the biggest tech companies in the world shows massive layoffs, stock prices tumbling, and whatever the hell is going on at Twitter<\/a>. It all looks to be a giant mess as the quest for constant growth seems to have over-extended Meta<\/a> and caused problems for Netflix<\/a> which doesn\u2019t really have that many more markets to break into. Is it all as bad as it seems though? Today we are going to dig a little deeper beneath the headlines and explore some of the less-reported things going on in tech to get a more developed picture of the state of the tech industry<\/strong> and what it means for you.<\/p>\n\n\n\n

Tech layoffs and downsizing<\/h2>\n\n\n\n

Back at the turn of the millennium, everybody was going crazy investing in any business that had a .com URL. People were making ridiculous amounts of money until it all went bust, with the dot com crash<\/strong> being one of the most famous things to have ever happened in the tech sector. Back then, when the bottom fell out of the market, tech companies were going bankrupt and lots of tech workers lost their job. In fact, around 107,000 tech workers lost their jobs thanks to the dot com crash. In 2022, so far, more than 120,000 tech workers have lost their job<\/strong>, more than during one of the worst crises to ever grip the industry.<\/p>\n\n\n\n

The easy explanation for the huge numbers of layoffs we\u2019ve seen this year is that more people are working in tech than ever before<\/strong>, thanks to more than two decades of unprecedented growth. If we take Meta, Facebook\u2019s<\/a> parent company, as an example, around 11,000 employees have just lost their jobs, which is more employees than Twitter ever had. The Tech sector has grown immensely. Despite this, however, the numbers are still pretty big and immensely worrying; according to the layoffs.fyi<\/a> tracker Amazon<\/a> has also laid off over 10,000 workers<\/strong>, but it is when you look at the percentages of workforces that have been cut, it gets quite shocking. Snap<\/a> has laid off 20% of its workforce, as has Intel, Robinhood<\/a> has laid off a whopping 30% of its workforce, but Twitter takes the prize having laid off a full 50% of all its workers.<\/strong><\/p>\n\n\n\n

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Tech Layoff

Meta – 11k (13%)
Twitter – 3.7k (50%)
Intel – 20%
Snap – 20%
Netflix – 450
Robinhood – 30%
Stripe, Lyft – 13%
Salesforce – 2k
Amazon – 10k

120k+ layoffs. 2000-01 dot com layoffs were ~107k. Q4 layoffs have just begun.
A brutally cold tech winter is coming.<\/p>— Deedy (@debarghya_das) November 14, 2022<\/a><\/blockquote>