SA国际传媒

We鈥檙e kicking off November on a bleak note.

Usually when I update the SA国际传媒 layoffs tracker, I see around 1,000 layoffs a week. But since I updated it last Friday, 23 companies have laid off more than 7,000 people. That puts our tally at more than 52,700 layoffs this year.

That means around 15% of the layoffs that happened so far this year happened in just one week.

Another round of layoffs

The mass layoffs going on at right now are .

But even if we ignore what might be an anomaly, the truth is that layoffs might get worse this winter as companies start conducting their second and even third rounds of layoffs. We鈥檙e already seeing this 鈥� cut around 1,000 people this week after laying off around 50 people in October, per SA国际传媒 data. slashed 700 folks from its team after laying off 60 people in July.

Last week, mental health startup cut 400 people (20% of its staff) after an earlier round of layoffs in May. , a food delivery service company, laid off 2,200 people in a series of three layoffs this year, the most recent being around 250 employees.

Are you seeing a pattern? After an uncertain market that led to sparse layoffs in the summer, companies are seeing the writing on the wall and cutting their numbers by the hundreds.

Undeniable market conditions

鈥淚 think what you may see is that companies that really thought that they were going to be able to raise that next round at a good valuation, may suddenly meet the market and realize that it’s not as easy or the valuation isn’t there,鈥� , an executive at the startup consulting firm , told me back in September.

It looks like he鈥檚 right. CEOs at (a recruiting platform), (a proptech startup) and (which focuses on logistics) all cited the frosty market conditions that led to layoffs in their respective public letters. All this goes to show that layoffs are penetrating every niche in the tech industry without discrimination.

Large companies are not immune. announced it would , and said .

鈥淚f you’re talking about a software company, the primary expense is personnel,鈥� Jones said. 鈥淭hey probably don’t even have any real rent right now.鈥�

Illustration: Dom Guzman