Technology is more vital to our lives than ever before — but the tech industry and its employees are currently experiencing some
So far in 2022, more than 73,000 workers in the U.S. tech sector
"Many companies have expanded aggressively during the last bull market run, instead of growing sustainably or being prudent with finances and investments," says Bobby Ong, chief operating officer and co-founder of CoinGecko. "The crypto winter and challenging macroeconomic environment are exposing which crypto companies have been 'swimming naked' and can no longer keep up with their earlier excesses — this likely parallels tech companies in general, as they cope with slowing growth."
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Consumer technology is the sector that has
Taking second and third place for sector layoffs are food tech — companies that develop, manufacture, and distribute food products — with 13,203 lost jobs, and the transportation sector — including layoffs from Lyft, Uber and used car dealerships — which saw 11,619 employees laid off year-to-date.
See what other technology sectors made the top five in CoinGecko's list: