In April 2020, HR tech startup Zenefits laid off approximately 15% of its workforce, affecting an estimated 80-100 employees out of a total of around 578. The company, which provides HR and payroll software for small and medium businesses, cited the severe economic impact of the COVID-19 pandemic as the reason for the cuts. CEO Jay Fulcher explained that the crisis forced a re-evaluation and realignment of the business plan, leading to this difficult decision. This move reflected broader job losses across Silicon Valley as the pandemic disrupted businesses globally.
