As the new year approaches, the latest numbers indicate that a whopping 125,000 employees have been laid off in 2022.

Many companies and industries were flying high during the pandemic, as remote and hybrid work options fueled big spending on computers, tablets, cloud computing, and more. Meanwhile, government stimulus helped buoy spending among consumers. As things have returned to normal, however, fears of a recession have mounted and led to mass layoffs.

According to Forbes, the total number of layoffs for 2022 has now topped 125,000, with more than 60,000 of them being let go since the beginning of November. Tech companies have led the charge, with Meta, Amazon, and HP among those laying off the most workers. In total, some 90,000 workers have been laid off in the industry this year.

As economists warn of a recession, the layoff numbers are certainly lending weight to those concerns.