ech layoffs are accelerating, according to the data. The surge in staff cuts comes after reductions in human capital slowed so much in the back half of 2023 that we wrote that “tech layoffs are all but a thing of the past.” At the time, reported layoffs had been trending down for months and months to reach what appeared to be a nadir that was so low it felt inconsequential.

How things have changed. At the time, we posited that rising tech valuations were taking some pressure off technology concerns and that large-scale cuts appeared to be losing luster compared to more targeted reductions in total staffing. Then 2024 rolled around and flipped the script.