A Deep Dive into the Recent Layoffs of 2022 – 23: Industries and Cities Most Affected

In the wake of recent economic fluctuations, the job market has been significantly impacted by layoffs across various industries. Our latest business intelligence dashboard, which focuses on layoffs in the year 2022–23, reveals some crucial insights that shed light on this challenging scenario.

The most affected sectors have been finance, retail, and healthcare, accounting for approximately 30% of the total layoffs. In stark contrast, the education sector saw the lowest number of layoffs, with only 1% of the total. A staggering 307 finance companies laid off employees, while the education sector saw a mere 25 people lose their jobs.

Geographically, the cities that experienced the most significant impact were San Francisco, New York City, Boston, and Los Angeles. On the other hand, Sydney emerged as the least affected city during this period.

When examining the amount of money saved by companies due to these layoffs, the highest savings reached around $200,000, while some businesses didn’t save any money at all. This finding raises questions about the actual financial benefits of such drastic measures.

In terms of company stages, 19% of layoffs occurred in post-IPO companies, and 16% were unknown. Interestingly, companies in the Series F stage experienced the least number of layoffs.

This dashboard’s analysis highlights the unequal distribution of layoffs across industries, cities, and company stages. As we navigate the future, it is crucial to address these disparities and explore more sustainable solutions to maintain job security and promote economic growth.