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Visualizing Tech Company Layoffs in 2022 – Visual Capitalist

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tech layoffs in 2022

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Layoffs are happening so frequently in 2022 that everyone from Crunchbase to Indian tech website Inc42 are now keeping track.
There is even a standalone website tracking all tech layoffs in the United States.
For the purposes of this infographic, we’ve used data from which includes a mix of U.S. and international tech companies that have let workers go in 2022.
Layoffs are having an impact on the entire tech industry, and the phenomenon is global. Here are some of the most high-profile examples of mass layoffs in 2022:
Meta: The social media giant faces competition from upstarts like TikTok, as well as a pool of ad dollars that is shrinking in the face of a faltering economy. Although this reduction in headcount is painful for Meta, it’s worth considering a more broad perspective. In close to two decades of doing business, these will be the company’s first wide-scale job cuts.
Twitter: Though Meta wins with sheer volume of cuts, Twitter’s mass layoffs are surely the most dramatic. In early November, the company’s iconoclastic new owner, Elon Musk, slashed 50% of the workforce, and soon after, thousands of contractors also suddenly lost their jobs. Estimating how many employees remain at the company will remain a challenge until the dust settles.
Byju’s: Layoffs are not just confined to the United States. India’s sizable tech sector is also facing cuts. EdTech giant, Byju’s, laid off 2,500 employees in October—around 5% of its total workforce.
Peloton: The high-end workout equipment company has been dropping its headcount throughout the year. In the visualization above, companies like Meta stand out as they eliminated thousands of employees all at once. Peloton, however, executed its layoffs in stages throughout the year. After strong growth during the pandemic began to stagnate, the company is slimming down to regain profitability.
The stated reasons for letting so many workers go are economic uncertainty (external factors) and poor performance (internal factors).
Goldman Sachs Research points out that “higher interest rates and tighter financial conditions disproportionately impact the sector because tech company profits are typically expected further out in the future and therefore subject to greater duration risk.”
Shrinking advertising budgets and the implosion of the cryptocurrency market are also factors that may have influenced the decision to cut headcounts. Twitter and Snapchat fall into the former bucket, while Coinbase and Kraken fall into the latter.
At face value, widespread layoffs in the tech sector might appear to be a bad omen for the wider economy—especially given the outsize influence tech companies have on the markets.
Thankfully, this does not appear to be the case. Payroll and wage data from the U.S. government have exceeded expectations, and the country’s unemployment rate is close to a half-century low.
So, why the disconnect?
First off, tech jobs only account for less than 3% of total employment in America. As well, tech workers who’ve lost their jobs have a high likelihood of securing a new job in short order.
It remains to be seen whether November will be the peak of job cuts. Employers generally try to avoid letting people go right before the holiday season. One week into December, has tracked 7,600 more layoffs.
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Global trade is growing across regions and countries which is creating an explosion in new jobs and education opportunities.
The growth of global trade is causing a mass geographical redistribution of workforces.
This is creating employment everywhere it goes and grows, according to the OECD. So how can this redistribution and growth be utilized to launch a successful career?
In the above infographic from The Hinrich Foundation, we explore the massive explosion of career opportunities in international trade. To start, let’s dive into the inner workings of global trade.
Trading across borders is a complex process, especially when two or more countries are involved. This is called a Global Value Chain (GVC) and it enables more than half of the world’s international trade.
Here is a visualization of the trade routes of cargo ships across oceans. Note that while this data is from 2012, it is purely intended to demonstrate the complex nature of global trade.
GVCs require a chain of people working throughout the trade route of all internationally exchanged goods and services.
According to the OECD, a country’s ability to benefit from GVCs depends on how much it invests in the skills and education of their citizens.
For those considering pursuing a career in trade, it can help to look at the landscape of global trade and how the situation is evolving over time. This way, they can envision what opportunities will be available for them when they graduate.
According to IMF, Asian regions have dominated growth in the market. Central and South Asia will have the highest export growth from 2021 to 2026. ASEAN will be importing the most goods and services in the same time period. Here is what the world looks like in exports:
But growth on its own is not enough to show where the potential for lucrative careers is the highest. For example, China’s growth rate in 2021-2026 (expected) will slow down compared to 2016-2021. But it remains one of the biggest trading hubs in the world, along with Germany and the United States.
Another deciding factor that can help people understand the scope of their future careers is what roles are the most in demand.
According to research, the most in-demand job in global trade is an International Trade Finance Manager. An ITF manager makes import and export deals between parties, secures financing from banks and, in complex deals, creates special structures to integrate products.
This is an ideal job for those looking for international exposure, travel and decent salaries without burning out.
Another sought-after job is in trade research and analysis. Research Analysts will be among the most wanted professionals in the next few years, and it is no different for researchers in trade. It is also one of the highest-paying jobs in the field. For example, salaries in 2022 were estimated to reach $135,000 annually. 
Traders looking for bigger paychecks can also consider working as an International Business Development Professional. In 2022, they have been earning up to $200,000, according to Zippia. 
But it’s important to note that this value is a conversion of salaries given in different currencies, with vastly different values, in areas with diverse living costs. 
For example, $60,000 would be a conservative salary in Iceland. However, in Greece, with an average annual salary of $26,000, it would be a more generous number. This is because the currency conversion allows the earner to afford a high-quality life.
According to The Hinrich Foundation, there are educational opportunities available across cross-border trade, trade policy, logistics and supply chain management, trade finance/ accounting, leadership and soft cross-cultural skills.
This information comes from the Trade Careers Index launched by The Hinrich Foundation and QS. It is a set of rankings for institutes offering master’s degrees in global trade. 
In addition to ranking university programs, the index evaluates graduate outcomes, industry engagement, innovative teaching, flexible program delivery, reputation, and research.
>>>Interested in a career in international trade? Click here to explore the International Trade Rankings, the first ever ranking of master’s trade programs globally.

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Lot sizes in the U.S. are shrinking compared to a few decades ago. Here’s a look at the median lot size in every U.S. state.
The “American Dream” is often associated with imagery of spacious estates adorned with white picket fences, wrap-around porches, and sprawling green lawns that seem to go on forever.
But in reality, modern American life has become much more compact. Over the last few decades, the typical lot size in the U.S. has decreased significantly—from 18,760 square feet in 1978 to 13,896 in 2020.
While lot sizes are getting smaller overall, there are still large discrepancies in lot sizes from state to state. This graphic by Angi uses data from the 2022 U.S. Lot Size Index to show the median lot size in every U.S. State, using data from 312,456 Zillow listings as of May 2022.
When it comes to the states with the largest plots of land, New England dominates the ranking, with Vermont, New Hampshire, and Maine at the top of the list.

Rank State Median lot size (sq.ft.)
1 Vermont 78,408
2 New Hampshire 49,223
3 Maine 45,738
4 Montana 43,560
5 Alaska 42,423
6 Mississippi 31,799
7 Connecticut 30,928
8 Arkansas 24,829
9 Tennessee 24,394
10 Georgia 22,215

New England was one of the first regions settled by the Europeans in Colonial America. This long history, along with a large rural population, could explain why the area has strict zoning policies that limit density and require large minimum lot sizes for new builds.
On the opposite end of the spectrum, Nevada ranks as the state with the smallest median lot size:

Rank State Median lot size (sq.ft.)
1 Nevada 7,405
2 California 8,327
3 Arizona 8,726
4 Illinois 9,025
5 Texas 9,540
6 Colorado 10,019
7 Florida 10,019
8 North Dakota 10,019
9 New Jersey 10,019
10 Ohio 10,019

One possible explanation is that Nevada’s population boom—and subsequent development—is relatively recent. Newer homes listed in the dataset tend to have smaller lot sizes, and in Nevada, 34.6% of homes included in the research were built in 2000 or later.
Generally speaking, the states with the biggest lots also tend to have the cheapest land when broken down per square foot. For instance, in Vermont, properties sold for a median $5.95 per square foot.
comparing average lot sizes in the U.S. to price
View the full-size infographic
On the flip side, in Nevada, land sold for a median $82.80 per square foot—that’s the third most expensive of any state.
Of course, other factors are at play here when it comes to the cost of land. Like anything else that’s for sale, the price of a lot is governed largely by the laws of supply and demand.
For example, housing supply is scarce in Hawaii, where only 4.9% of the land is zoned for residential development, and the median home size is much smaller than in other parts of the country. Not surprisingly, the median plot of land in Hawaii costs $110.86 per square foot, the most expensive on the list.
Lot sizes remain relatively large in some states for now, but as the U.S. population continues to become more urbanized, living conditions in America could get even tighter.
Will America hold onto its spacious way of living, or could life in the U.S. start to resemble more densely populated regions in the future?
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