Global tech sector records over 1.63 lakh layoffs this year to date
Executive Take
Layoffs are hitting the software categories that grew fastest during the pandemic hiring boom. If you run a cloud, SaaS, or enterprise software business, assume your peers are still cutting headcount, not adding it.
Executive Summary
A Trading Platforms report says the global tech sector has cut over 163,000 jobs so far this year. Cloud and SaaS led with 37,492 layoffs, followed by e-commerce and marketplaces (22,633), IT services (16,756), social media (13,592), and enterprise software at 8.14% of total cuts.
Why It Matters
HR and technology leaders need this to benchmark their own workforce plans against sector norms. It signals that cost discipline in software, not just AI-driven layoffs, is still the dominant story in tech hiring this year.
Bizquad Perspective
Most coverage blames AI for tech layoffs, but the data shows cloud and SaaS companies are cutting the most, suggesting overhiring correction matters as much as automation.