20,000 tech staff go in just ten days

tECH firms have sacked more than 20,000 people in the first ten days of the year as the mass lay- offs continue to haunt Silicon Valley in the United States.

according to tracking site Layoffs.fyi, 50 tech companies have laid off 20,743 employees since the start of 2023.

Software firm Salesforce and e-commerce giant amazon announced global job cuts of 8,000 and 18,000 respectively since the New Year, citing economic pressure and the need to slim down their enormous headcounts.

On Monday, crypto giant Coinbase also revealed it would be axing 20pc of its workforce, 950 members of staff, in a restructuring plan.

this was the third round of lay-offs for the crypto exchange since last year.

the fresh cuts come off the back of a tide of workforce reductions last year from the likes of Facebook owner Meta, twitter and Snapchat.

the tech sector shed more than 150,000 workers in 2022 according to Layoffs.fyi estimates.