Socure

On January 5, 2023, digital identity verification company Socure laid off 104 employees, representing nearly 19% of its peak workforce. The company, which had over 550 employees prior to the cuts, cited softer demand from key market verticals like fintech, gaming, and crypto, alongside a broader economic slowdown. This followed a previous reduction of 69 employees in mid-2022. CEO Johnny Ayers explained the layoffs resulted from aggressive hiring in 2021 just before the economic downturn, prompting a strategic shift to focus on core product innovation and enterprise growth with leaner teams in 2023. The company is providing benefits and outplacement support to affected staff.

Socure laid off 69 employees representing approximately 13% of its workforce on 2022-06-17.