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Layoffs in tech sector reach nearly 100k year to date

Job losses across the tech sector have nearly reached 100,000 year to date, according to the tracker Layoffs.fyi. Read more here.

ByteDance ( BDNCE), owner of the social media app sensation TikTok, has reportedly slashed it global work force by nearly 2,000 over the past quarter. "After careful consideration and many leadership discussions over several months, it has become clear changes need to be made to continue to grow the business and develop the company," said former PlayStation CEO Jim Ryan. "We are also sunsetting games and moving away from development of future licensed IP that we do not believe will be successful in our changing industry," CEO Andrew Wilson wrote in a memo to employees.

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