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Tech companies lay off workers at highest rate since 2020: ‘I feel deceived’

Updated: Jun 29, 2022

Technology companies in May axed employees at the highest rate in two years, as rising interest rates and a stock market selloff squeeze startups and Big Tech firms alike.

Sixty-six tech firms handed out a whopping 16,800 pink slips last month. That’s more than the 13,600 layoffs across 52 companies during the first four months of 2022 combined — and the most employees to get the axe in a single month since May 2020, according to tech jobs tracking site layoffs.fyi.

 
 

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