Layoffs in Australia

Menulog, the Australian food delivery service owned by Amsterdam-based Just Eat Takeaway.com, has cut a small number of jobs at its Sydney head office as part of a global cost-cutting and restructuring effort. While the exact number of layoffs was not disclosed, the company described it as a reduction in management and support roles to improve operational efficiency. This move reflects broader challenges in the food delivery sector, which is shifting focus from pandemic-era growth to profitability amid investor pressure. The layoffs occurred in late 2023, following similar contractions by rivals like Deliveroo and Voly in Australia. Menulog, with a significant market share and 16 years of operation in the region, aims to maintain its position as a sustainable business despite industry-wide adjustments.

Whispir, a cloud-based communications technology company, is laying off 30% of its workforce to accelerate its path to cashflow breakeven and achieve millions in annual savings. The job cuts, announced in mid-November 2022, were welcomed by investors, leading to a more than 40% surge in its share price. The company, which had faced balance sheet concerns, is restructuring to improve its financial sustainability in the competitive tech industry.

Deliveroo Australia, a food delivery service, ceased all operations and entered voluntary administration on November 16, 2022, effectively laying off its entire local workforce. This sudden exit from the Australian market resulted in the redundancy of approximately 120 direct employees and left 15,000 independent delivery riders without work. The company, which had operated in Australia since 2015, cited challenging economic conditions and an unsustainable market position. Despite a pandemic-driven surge in demand, Deliveroo fell behind major competitors like Uber Eats, Menulog, and DoorDash, concluding that achieving market leadership would require disproportionate investment with uncertain returns. The administration also impacted over 12,000 partner restaurants and an unknown number of customers, marking a full wind-down of its local business.

Voly on 2022-11-10.

Zoomo, an electric vehicle fleet company, announced on October 4, 2022, that it is laying off 16% of its global workforce to navigate a challenging economic climate. The decision, aimed at building a more resilient business for 2023, comes as the company faces softened demand and tighter capital compared to the previous year's abundant resources. This restructuring affects every department, involving a reduction in roles that no longer align with a focused strategy, along with deprioritizing operations in some cities and pausing select projects. The layoffs are part of Zoomo's effort to accelerate profitability and strengthen its position in the commercial micromobility industry, despite the personal impact on employees, whom the company is supporting through the transition.

On September 9, 2022, Australian fintech company Brighte laid off approximately 58 full-time employees, representing a 27% reduction of its Australian team. The layoffs resulted from the company's decision to close business units focused on longer-term, non-core projects, including offshore expansion plans and the development of certain tech platform capabilities. This restructuring aims to accelerate Brighte's pathway to profitability by focusing solely on its core sustainable home finance business, which provides point-of-sale financing for solar, batteries, and home improvements through a network of over 2,200 vendors. The move is intended to better position the company to navigate current market conditions while continuing its mission to make homes more sustainable.

Australian online retailer Kogan reported its first annual loss since its 2016 stock market listing, posting a $35.5 million net loss for the 2022 financial year. In response to a major slowdown in e-commerce spending as pandemic lockdowns ended, the company announced it would begin reducing its employee headcount. Founder and CEO Ruslan Kogan admitted the company had miscalculated post-lockdown consumer demand, having significantly expanded inventory and logistics in anticipation of sustained growth that did not materialize. The announcement was made in late August 2022, as the broader e-commerce industry faced a cooling period after the initial pandemic boom.

Mr. Yum, an Australian hospitality tech company, announced a workforce reduction of approximately 17% of its team. This difficult decision was made to align the company's structure and strategy with a more focused approach to support customers and product vision as capital markets recover. The layoffs were communicated with empathy, and the company plans to share an opted-in list of the impacted talented individuals to aid their job search. The move reflects broader challenges in the funding environment for tech startups.

Australian cryptocurrency exchange Swyftx laid off 74 employees, representing 21% of its workforce, in response to a challenging economic environment marked by high inflation, rising interest rates, and market volatility. The company's co-CEOs announced the difficult decision, emphasizing it was a last resort to align costs with an extended period of uncertainty. The layoffs occurred in 2022, impacting the fintech industry, and the company, which had grown significantly, is providing support including career counseling and accelerated equity vesting to affected staff.

Expert360, a talent marketplace company, conducted a small round of layoffs affecting seven employees. This decision was driven by a shift in the labor market, where an increased supply of talented engineers has emerged, prompting the company to adjust its workforce. The layoffs occurred amidst a broader trend in the startup sector where companies, despite economic pressures and some workforce reductions, continue to offer various perks to attract and retain staff.

Linktree, an Australian social media startup, laid off approximately 50 employees, representing 17% of its reported 300-strong global workforce, in August 2022. CEO Alex Zaccaria announced the cuts, attributing them to efforts to navigate an economic downturn and emerge stronger. The layoffs are part of a broader trend of tech industry reductions, affecting a company known for its creator-focused link-in-bio platform. Zaccaria expressed regret over the decision and outlined support measures for impacted staff, including a public job referral list and company-wide mental health days.

Metigy, an Australian marketing technology company, has entered administration, resulting in the layoff of its entire workforce of 75 employees. This represents a 100% reduction in staff. The company's collapse occurred in late 2022, as indicated by the social media post, and was attributed to financial difficulties leading to administration. The tech startup, which provided AI-driven marketing tools for small businesses, has ceased operations.

Australian property technology startup Yabonza has collapsed and entered liquidation in July 2022, resulting in the effective layoff of its entire workforce. The company, which had grown to a team of 20 employees, had dwindled to just three staff members in its final months. The liquidation followed the termination of a key service agreement by the company's financier. Operating in the proptech sector, Yabonza offered a tech-driven property management platform but ultimately succumbed to financial pressures, marking another casualty in a challenging period for the Australian tech startup scene.

InDebted laid off 40 employees representing approximately 17% of its workforce on 2022-07-26.

Australian crypto gaming startup Immutable, valued at $3.5 billion, laid off at least 20 employees on July 26, 2022, affecting about 6% of its workforce. The cuts primarily impacted senior staff with core knowledge of its flagship NFT trading card game, Gods Unchained, effectively gutting the project's development team. The layoffs were announced during a company-wide meeting, with affected employees offered the chance to apply for other internal roles, though these were reportedly unsuitable. This move reflects broader contractions in the crypto and NFT industry, following similar workforce reductions at major firms like Coinbase and OpenSea, as the sector recedes from its 2021 highs.

Eucalyptus laid off 50 employees representing approximately 20% of its workforce on 2022-07-22.

Australian parcel delivery startup Sendle has laid off 12% of its workforce as a pre-emptive measure to navigate global market volatility, with the cuts announced in early July 2022. The company, which operates in the logistics and technology industry, is among several local tech firms, including Airtasker and Mycelium, reducing staff in response to cooling funding markets. This move reflects a broader trend of cost-cutting within the tech and crypto sectors amid economic uncertainty.

Perx Health, a Melbourne-based health tech startup, has laid off an unspecified number of employees as part of a broader wave of job cuts across Australia's startup sector. The layoffs come amid a sharp downturn in venture capital funding, driven by rising interest rates, inflation fears, and plunging consumer confidence, which has spooked investors. This has forced many cash-burning startups, including those in health tech, to tighten their belts, cut costs, and reduce headcount to extend their runway. The sector, which had enjoyed a decade of unprecedented growth with a record $10 billion invested in 2021, is now facing a harsh reality check, with several prominent startups like Milkrun, Voly, HealthMatch, and Una Brands also implementing significant layoffs or spending cuts.

Australian neobank Volt, a challenger in the financial technology sector, has been forced to close and return its banking license after failing to secure the necessary capital to scale its operations. The company, which had around 6,000 customers, is now urging them to withdraw their funds as it winds down. This shutdown, announced in late June 2022, follows a similar fate for other Australian neobanks like Xinja, highlighting the significant capital-raising challenges faced by new entrants trying to compete with the country's established banking oligopoly. Volt's CEO cited tough global economic conditions and an immature local venture capital landscape as key reasons for its inability to continue.

HealthMatch, an Australian health tech startup, laid off 18 employees, representing 50% of its global workforce, as confirmed by founder Manuri Gunawardena on Tuesday. The clinical trials platform, which has raised $18 million from investors including Square Peg, made the difficult decision due to punishing market conditions, including investor concerns over inflation and interest rates that have smashed growth company valuations. To conserve cash and navigate a bleak funding horizon over the next 12-24 months, the company reduced staff, aiming to ensure its survival and continued operations, including its recent launch in the US. This move reflects a broader trend of Australian startups cutting staff to delay fundraising and accelerate profitability amid a tough economic climate.

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Australian instant grocery delivery startup Voly has laid off more than half of its head office staff in early June, a severe cutback driven by a challenging funding environment. The company, which operates in the competitive on-demand grocery delivery sector, has also abandoned its 15-minute delivery promise and closed half of its warehouse sites. As a capital-intensive startup in the food retail industry, Voly has been hit hard by rising interest rates, inflation, and a cautious investment climate, making it difficult to secure the substantial funds needed for growth. This reflects a broader downturn in the tech sector, where rapid expansion is no longer sustainable without profitability.

In June 2022, Australian fintech Brighte, which specializes in financing residential renewable energy and solar installations, laid off more than 30 employees, representing about 15% of its workforce. The company, backed by prominent investors including Atlassian billionaires, made the cuts to preserve cash in anticipation of a potential one- to two-year economic downturn. Despite a surge in homeowner interest in solar due to rising energy prices, Brighte opted to streamline operations. The fintech had expanded into EV financing and aimed to become an energy retailer, but faced scrutiny over its financing of overpriced solar systems for vulnerable customers.

5B Solar representing approximately 25% of its workforce on 2022-06-03.

Australian digital asset marketplace Envato has initiated a restructuring process, resulting in approximately 100 redundancies globally. This represents about one in seven employees, based on the company's 2020 headcount of around 600. Announced in early June 2022, the layoffs affect roles across Australia, New Zealand, Mexico, and the USA. CEO Hichame Assi stated the cuts are part of an effort to sharpen the company's business focus, update its core areas, and wind down ancillary products. The tech industry firm is providing impacted staff with a minimum of 12 weeks' pay and outplacement support.

Bizpay representing approximately 30% of its workforce on 2022-05-04.

Grocery delivery startup SEND, which operated in Australia, collapsed into voluntary administration in early May 2022. The company, founded during the COVID-19 pandemic, employed an estimated 300 staff across multiple sites in Sydney and Melbourne. Its collapse resulted in all employees being laid off, representing 100% of its workforce. Administrators cited a "sizeable cash burn" used to grow market share and unique financing challenges with international investors as key reasons for the failure. SEND had secured a $3.1 million capital raise in 2021 but ultimately could not sustain operations. The tech startup, which offered ultra-fast grocery deliveries, ceased operations entirely following the administration appointment.

In August 2020, Australian networking and internet service provider Superloop laid off 30 employees as part of cost-cutting measures driven by the COVID-19 pandemic. This reduction, which decreased permanent headcount costs by 10.7%, was a response to significant revenue declines in its student accommodation and hospitality-focused internet services due to nationwide lockdowns. The layoffs followed a temporary four-day workweek implemented in April. For the financial year ending June 2020, Superloop's revenue fell 9.11% to $106.6 million, though it reduced its net loss from $72 million to $41 million through operational cuts and reduced capital expenditure. The company, which operates in the telecommunications and managed services industry, subsequently restructured and shifted focus toward sales and monetizing its network infrastructure.

Culture Amp, an Australian employee engagement survey startup valued at $1.04 billion, has laid off 36 employees, representing 8% of its global workforce of 446. The company, which serves around 3,000 customers worldwide, cited the economic impact of the coronavirus pandemic, which halved its growth rate. CEO Didier Elzinga explained that despite holding off initially, the prolonged downturn necessitated adjusting the company's size to ensure sustainability. While not directly eligible for government support due to a limited revenue drop in Australia, Culture Amp faced significant challenges in international markets. The layoffs reflect a broader industry trend as tech companies navigate a slow recovery, though the firm remains optimistic about the long-term importance of its culture-focused services.

In May 2020, Deputy, a venture-backed software platform for shift workers, laid off 30% of its staff due to the COVID-19 pandemic's severe impact on its business. The company, which had been valued at $423 million, saw the hours worked by its 2 million users halve as lockdowns and restrictions disrupted industries reliant on shift work. Facing this sharp decline, the company re-prioritized its operations to navigate the crisis and prepare for eventual recovery.

Nearmap, an Australian aerial mapping technology company, implemented cost-saving measures in April 2020 to achieve positive cash flow by June, despite being deemed an essential service during the pandemic. These initiatives included executive pay cuts, a temporary 20% reduction in employee salaries, deferred bonuses, and redundancies affecting approximately 10% of its workforce. While the exact number of layoffs wasn't specified, the 10% reduction was part of a broader strategy to neutralize cash burn as the new fiscal year began. The company focused on maintaining its resilient cloud-based subscription model, delaying new camera systems, and continuing sales efforts in key sectors like insurance and government.