How layoffs can affect diversity in tech—and what to do about it
After going on a hiring spree during the pandemic, tech companies are now laying off staff in job cuts that sometimes involve thousands of employees. While the layoffs may be necessary to help boost sagging profit margins, proponents of diversity in the tech sector are concerned that the job cuts may disproportionally affect underrepresented groups.
According to Layoffs.fyi, the online tracker keeping tabs on job losses in the technology sector, 152,542 employees from 993 global tech companies were laid off in 2022.
While the COVID-19 pandemic had a huge financial hit on industries such as events and hospitality, organizations operating in the technology sector experienced a period of hypergrowth, rapidly expanding to meet the perceived needs of customers who were becoming totally reliant on technology.