Layoffs in United Kingdom

Kape Technologies laid off 200 employees representing approximately 30% of its workforce on 2023-07-30.

Kape laid off 180 employees on 2023-07-28.

Onfido, a UK-based identity verification software scaleup, conducted layoffs in 2022 as part of a strategic shift to achieve cashflow positivity by the end of 2024. While the exact number of employees laid off was not disclosed by CEO Mike Tuchen, it was fewer than the 11% reduction suggested by LinkedIn data. The company's current workforce stands at approximately 600. The layoffs were driven by challenging market conditions, including reduced software spending by corporate clients and slower growth, prompting Onfido to prioritize efficiency over growth and reduce its reliance on venture capital funding. Operating in the fintech and SaaS industry, Onfido, once a unicorn, is focusing on expanding its customer base in Europe amid a downturn.

In July 2023, adtech firm MiQ conducted a quiet round of layoffs, affecting approximately 4% of its workforce. The company, which is backed by private equity, closed its office in Germany and made redundancies in the UK and other markets. This move reflects ongoing challenges in the adtech industry, where companies are grappling with lower advertising rates and prolonged economic uncertainty, leading to continued workforce reductions even after earlier cuts in 2022 and early 2023.

FNZ laid off 1,000 employees representing approximately 15% of its workforce on 2023-07-06.

Hospitality company Selina, an Israeli-founded firm that went public in October 2022 via a SPAC merger at a $1.2 billion valuation, is laying off about 350 employees as part of urgent cost-cutting measures. This reduction, announced in June 2023, leaves the company with roughly 2,000 employees, meaning the layoffs affect approximately 15% of its workforce. The cuts come as Selina faces severe financial strain, having burned through cash and posted a $200 million loss on $183 million in revenue for 2022. With its market cap plummeting to around $120 million and only $23 million in cash as of March, the company is halting expansion, closing unprofitable properties, and consolidating offices to prioritize profitability over growth.

Clearpay, a buy-now-pay-later (BNPL) fintech company, is winding down its operations in France, Italy, and Spain, leading to the potential layoff of all its European staff in those markets. The decision, announced in June 2023, is attributed to tough economic trading conditions in the European Union. The company will cease taking new customers from July 3rd and fully shut down its EU operations by August 25th. While the exact number of affected employees is not specified, the closure threatens all jobs in the region. Clearpay's operations in the UK, North America, Australia, and New Zealand remain unaffected. This move highlights the challenging environment for fintech firms, with other BNPL players also facing workforce reductions amid economic pressures and increased regulatory scrutiny.

Karakuki representing approximately 100% of its workforce on 2023-06-20.

Karshare representing approximately 100% of its workforce on 2023-06-16.

UK fintech unicorn GoCardless laid off approximately 135 employees, representing 15% of its global workforce, in June 2023. The company, valued at $2.1 billion and employing around 800 people after the cuts, made this decision to prioritize profitability and reduce costs amid a challenging economic environment and a funding drought. CEO Hiroki Takeuchi stated the move focuses the business on core areas while scaling back longer-term investments. The layoffs affected roles in the UK, US, Australia, and New Zealand, and the senior leadership team was also reduced by about 25%. This aligns with a broader trend of job cuts in the fintech sector as companies adjust to market pressures.

BenevolentAI, a London-based AI drug discovery company, laid off approximately 180 employees in May 2023 as part of a restructuring plan. The layoffs, which also involved cutting pipeline programs, were implemented to streamline operations and focus resources. While the exact percentage of the workforce affected is not specified, the move reflects broader challenges in the biotech and AI-driven pharmaceutical sectors, where companies often adjust strategies to prioritize core projects and ensure financial sustainability amid evolving market conditions.

Tractable, a computer-vision AI startup valued at $1 billion, has conducted two rounds of layoffs, cutting 10 to 15 employees in September 2022 and a larger number in January 2023, affecting teams across seven countries. The company, which uses AI to assess property and auto damage for insurers, cited a shift in investor focus from growth to profitability and the need to adapt to a challenging economic environment. Despite the broader AI investment boom, Tractable, like many tech firms, has been impacted by the global tech downturn and reduced venture capital funding. The layoffs are part of its effort to streamline operations and position for strategic growth in 2023.

Fintech company Zepz, owner of the money transfer brands WorldRemit and Sendwave, is laying off 420 employees, which represents about 26% of its roughly 1,600-person workforce. The London-based firm announced the cuts this week, citing a "workforce optimization" plan to eliminate duplicated roles following the integration of Sendwave and WorldRemit under the single Zepz parent company. The layoffs primarily affect customer care and engineering teams as the company centralizes these operations. CEO Mark Lenhard stated the move is a strategic step to streamline the organization for long-term growth, emphasizing it is driven by structural needs rather than immediate macroeconomic pressures. This marks the second round of layoffs at Zepz in under a year.

Israeli software company Glassbox is laying off 40 employees, representing 14% of its workforce, as part of a cost-cutting measure aimed at saving $7.44 million annually. The layoffs, announced in early May 2023, come as the company has seen its market capitalization plummet by about 85% since its IPO in June 2021, when it was valued at nearly $500 million. Glassbox, which provides analytics platforms for digital customer experiences, currently has a market cap of around $73 million. The move reflects broader challenges in the tech sector, with the company's share price rising over 9% on the news as investors responded to the restructuring plan.

Heygo, a London-based virtual travel platform founded in 2020, has permanently shut down this week after nearly three years in operation. The startup, which raised $20 million in venture capital in early 2022, was launched to offer virtual tours led by local guides during the pandemic. However, founder John Tertan stated that post-Covid, the market for virtual experiences wasn't large enough to sustain the business, leading to the decision to return capital and cease operations. The company had previously generated significant income for tour guides during lockdowns but ultimately couldn't maintain growth as travel resumed.

UK-based adtech firm Permutive, backed by SoftBank, announced a significant layoff this week affecting just under 80 employees, which represents about 40% of its total staff. This follows a previous round in August 2022 that cut 12% of roles. CEO Joe Root cited a challenging economic environment, an 80% drop in late-stage venture capital funding, and a need to prioritize profitability as reasons for the restructuring. The company, which provides audience segmentation and data clean room technology to publishers, is undergoing formal consultation processes in the UK and internationally. This move reflects broader pressures in the digital advertising industry, where slowing ad spend and rising costs have prompted widespread cost-cutting.

In March 2023, cryptocurrency custody and settlement provider Copper announced layoffs affecting up to 15% of its workforce as part of a strategic streamlining amid a severe crypto bear market. The company, which employs approximately 300 people, could not specify an exact number of job cuts as the process was just beginning. This restructuring follows Copper's decision to shelve its enterprise software business, including ending its partnership with State Street, to concentrate resources on its core "off-exchange" ClearLoop settlement network. CEO Dmitry Tokarev cited the need to prioritize scalable revenue lines and capitalize on rising demand for collateral management solutions following the FTX collapse. The London-based firm, which serves institutional clients and is chaired by former UK Chancellor Philip Hammond, stated it remains in a stable financial position while seeking additional funding.

Wejo laid off 40 employees representing approximately 16% of its workforce on 2023-03-22.

In March 2023, RDX Works, a cryptocurrency infrastructure company, announced a workforce reduction of approximately 25%. This layoff affected around 25 employees from a team that had grown to over 100, primarily impacting business support functions like marketing, HR, and operations, while core technical teams remained intact. The decision was driven by ongoing market uncertainty and a prolonged "crypto winter," with the company aiming to conserve resources and prioritize the successful launch of the Radix Babylon mainnet upgrade scheduled for Q2 2023. Despite previous growth and achievements, including developer engagement and network expansion, the broader industry downturn necessitated these measures to ensure long-term resilience and focus on key technical deliverables.

Synamedia, a global video software provider, has laid off approximately 200 employees, representing 12% of its workforce. This round of cuts, announced in February 2023, marks the company's second restructuring in recent months, following a smaller layoff the previous November. The company cited economic headwinds and a need to align its product strategies with evolving video market demands as reasons for the reduction. While affecting global operations, the layoffs include dozens from its Israel headquarters, though Synamedia emphasized that its Israeli hub remains a key center for innovation and security. The company, which serves major broadcasters and content providers, is navigating a challenging tech landscape with these workforce adjustments.

Getir, the European speedy grocery giant, is preparing for a new round of layoffs in its UK office following its merger with rival Gorillas. This move, expected in early 2023, is part of the integration process to eliminate overlapping roles after the two companies, which offered similar services in many of the same locations, combined in a deal valuing the entity at $10 billion. While the exact number of UK layoffs is undisclosed, it is anticipated to be smaller than the drastic cuts in 2022, when Getir reduced its global workforce by 14% (4,400 employees) amid a market downturn. The industry-wide challenges in the rapid grocery delivery sector continue to drive these cost-cutting measures as the merged company seeks to prove the deal's value to investors.

Deliveroo laid off 350 employees representing approximately 9% of its workforce on 2023-02-09.

Rapid grocery-delivery startup Getir laid off approximately 100 corporate employees in the United States at the end of January 2023, reducing its US corporate workforce from about 260 to 160 employees. This represents a significant cut of around 38% of its corporate staff in the region. The layoffs, affecting departments like legal, operations, HR, fleet, and finance, are part of broader operational challenges and restructuring following Getir's acquisition of rival Gorillas. The company is consolidating operations, which may lead to further store closures and job cuts as it eliminates overlapping locations. This marks the second round of layoffs for Getir since it cut 14% of its global workforce in May 2022, reflecting ongoing struggles in the competitive rapid-delivery industry, including issues with timely employee payments and strict performance metrics.

In February 2023, British cybersecurity firm NCC Group announced plans to reduce its global workforce by 7%, affecting over 125 employees. The company, which employs around 1,800 people and is listed as an FTSE Mid Cap firm, cited challenging market conditions and delays in revenue recognition, particularly in the UK and North America, as key reasons for the layoffs. The job cuts, largely focused in those regions, are part of an ongoing strategic review and are expected to incur a one-off implementation cost of £4 million. Despite reporting strong first-half earnings growth, the company adjusted its annual outlook to anticipate single-digit revenue growth.

Snowplow, a data analytics company, announced layoffs affecting an unspecified number of employees as part of its adaptation to a challenging global economic environment. The decision, shared by co-founder Alexander Dean, was described as a difficult but necessary step to secure the company's future. While the exact scale of the reduction in workforce was not disclosed, the company emphasized its commitment to supporting affected team members in finding new roles during a tough market for tech workers. Snowplow expressed confidence in its ongoing opportunities and appreciation for the trust of its team and stakeholders, maintaining focus on long-term success and customer value.

Omnipresent, a global employment platform, has undergone a company-wide reorganization, resulting in layoffs. While the exact number of employees affected and the percentage were not disclosed in the announcement, the company is actively assisting its departing team members by sharing an "OmniAlumni" list to connect them with new opportunities. The reorganization was announced by co-founders Guenther Eisinger and Matthew Wilson, reflecting a strategic shift within the HR tech industry. The company is known for its highly selective hiring process.

In January 2023, UK-based electric vehicle manufacturer Arrival announced a major restructuring, cutting its workforce by 50% as part of its third such effort since July 2022. This reduction left the company with approximately 800 employees globally. The layoffs, led by newly appointed CEO Igor Torgov, aimed to slash operating costs by $30 million per quarter and preserve cash, as the company's reserves had dwindled from $500 million to $205 million by the end of 2022. Arrival, which went public via a SPAC in 2021, was shifting its focus to the U.S. market while grappling with the challenges of scaling its microfactory production model for commercial EVs.

Based on the provided content, there is no information about a layoff event at Glisser. The text appears to be a generic sign-up or login interface snippet for LinkedIn, containing no news, article content, or details related to Glisser's operations, workforce, or any corporate restructuring. Therefore, a summary of a layoff cannot be generated from this material.

Mode Global representing approximately 100% of its workforce on 2023-01-26.

London-based cryptocurrency exchange Luno is laying off 35% of its global workforce, impacting over 330 employees out of roughly 960. The cuts, announced by CEO Marcus Swanepoel in a live-streamed town hall on Wednesday, primarily affect marketing teams, with key operating and compliance teams seeing minimal impact. The company, part of the Digital Currency Group conglomerate, cites a tough 2022 marked by a worsening macroeconomic climate, the crypto market downturn, and industry shocks like the collapses of FTX and Terra, which have constrained growth and revenue. Luno will also scale back its operations in the U.S. and Australia as it navigates the ongoing "crypto winter."

Scoro representing approximately 9% of its workforce on 2023-01-24.

TikTok, the popular short-form video platform, has conducted a new round of layoffs this week, specifically targeting employees within its human-resources team focused on talent acquisition and recruiting. The exact number of affected employees remains unclear, as the company, a private entity under parent ByteDance, does not publicly disclose such figures. The layoffs were confirmed on Wednesday, January 18, 2023, amidst a broader wave of job cuts across the tech industry, including major players like Amazon and Google. This move appears to be part of ongoing restructuring efforts, following previous workforce reductions in 2022 within its advertising and Russian operations. While TikTok has thousands of global job openings and plans for expansion, these layoffs reflect a strategic adjustment in its hiring approach during a period of economic uncertainty and industry-wide recalibration.

Cybersecurity firm Sophos announced a global restructuring in January 2023, resulting in layoffs affecting approximately 450 employees, which represents about 10% of its workforce. The company stated the move was necessary to achieve an optimal balance between growth and profitability amid a challenging global economic slowdown. Sophos aims to reallocate investments to strengthen its strategic focus on becoming a market leader in cybersecurity-as-a-service, particularly in managed detection and response. The layoffs impacted various job roles globally, with the company noting its managed services business generates over $175 million annually and is growing rapidly. Sophos serves over half a million organizations worldwide and reports annual revenues exceeding $1 billion.

In January 2023, UK-based used car marketplace Cazoo announced further layoffs as part of its restructuring efforts, following the departure of founder Alex Chesterman as CEO. This comes after the company laid off 1,500 employees in 2022 amid significant challenges, including a 97% drop in share price since its 2021 NYSE listing. Cazoo, once valued at $7 billion, is now focusing on reducing costs and improving unit economics to achieve profitability, leading to additional workforce reductions and the closure of some operational centers. The company, which operates solely in the UK after exiting the EU, anticipates selling fewer cars in 2023 as it navigates a tough economic environment.

Britishvolt laid off 206 employees representing approximately 100% of its workforce on 2023-01-17.

In a difficult week for the fintech and e-commerce software company Paddle, CEO Christian Owens announced the layoff of 8% of its team. While the exact number of employees affected was not specified, the reduction reflects broader economic pressures and strategic adjustments within the tech industry. The layoffs occurred in late 2022, as indicated by the post date. Paddle, a scale-up company providing payment infrastructure for software businesses, handled the process with supportive measures for departing staff, including extended severance and accelerated equity vesting.

London-based HR tech scale-up Beamery is laying off approximately 12% of its workforce, a decision that follows closely on the heels of the company achieving a unicorn valuation in a recent funding round. The layoffs, announced in January 2023, reflect a broader trend of workforce adjustments in the tech sector as companies seek to streamline operations and adapt to changing market conditions. Beamery, which provides talent management and workforce agility solutions, is restructuring to ensure long-term sustainability despite its recent financial milestone.

Digital content publishing platform Minute Media is laying off approximately 50 employees, which represents about 10% of its global workforce of 520 people. The company, which operates in the digital media and advertising industry, announced the cuts in January 2023 as a strategic move to streamline operations and drive toward profitability amid a complex market period. This decision follows a postponed initial public offering that was previously targeted at a $1 billion valuation before market conditions shifted. The layoffs are part of a broader effort to focus resources on core growth areas for 2023-2024.

Gousto representing approximately 14% of its workforce on 2022-12-31.

Element representing approximately 15% of its workforce on 2022-12-25.

Zoopla, a UK-based property technology company, is laying off 50 employees, referred to as "Zoopligans," by the end of the year, making their roles redundant. The company cites ongoing challenges from the global pandemic and a volatile socio-economic climate in 2022 as reasons, stating the need to adapt priorities and teams for greater efficiency and to continue serving customers. While the exact percentage of its workforce affected isn't specified, the layoffs impact roles across Product and Tech, Account Management, Sales, Talent Acquisition, and Project Management. Zoopla expressed gratitude for the employees' contributions and is encouraging other companies to hire them, highlighting the move as part of efforts to weather economic uncertainties and focus on long-term goals in the proptech industry.

In December, StreetBees, a market research and insights platform, underwent a round of layoffs as part of its transition from a startup to a scale-up. The company reduced headcount in its Engineering, Product, Machine Learning, Marketing, and Sales teams to align investments with the current economic climate. While the exact number of employees affected was not disclosed, the layoffs impacted talent across the UK, US, Portugal, and Brazil. StreetBees, which has built its technology over eight years, made this difficult decision to streamline operations and ensure sustainability amid broader economic pressures.

Improbable representing approximately 10% of its workforce on 2022-12-16.

In December 2022, UK-based e-commerce technology startup Primer laid off approximately 85 employees, representing about one-third of its total workforce. The company, which had raised $50 million at a $425 million valuation the previous year, undertook this significant restructuring to adjust to shifting market conditions and extend its financial runway. The layoffs were driven by a major cooling in e-commerce activity following the pandemic boom, as consumer spending decreased amid global economic uncertainty and rising inflation. This move reflects a broader industry trend where companies that expanded rapidly during the peak of COVID-19 are now retrenching to navigate a more challenging economic environment.

Koinly laid off 16 employees representing approximately 14% of its workforce on 2022-12-06.

Yapily, a UK-based open banking fintech company, announced layoffs affecting an unspecified number of employees as part of a restructuring effort to prioritize efficiency and achieve profitability amid a challenging economic climate. The decision, described by the founder and CEO as the most difficult moment in his tenure, was driven by the need to proactively adapt to signs of a potential recession and ensure the company's resilience. While Yapily continues to grow and onboard new clients, it reduced team sizes to navigate broader economic headwinds. The layoffs occurred around the time of the CEO's message posted three years ago, reflecting the company's scale as a fast-growing player in the financial technology industry.

Thread, a fashion marketplace founded in 2012, underwent a pre-pack administration on November 30, 2022, resulting in layoffs for 30 employees who were not part of the acquisition deal. Marks & Spencer acquired Thread's intellectual property, including source codes and algorithms, to enhance personalization on its website. As part of the transaction, M&S hired 30 of Thread's former data scientists, software engineers, and creative teams, including the founders, to lead the integration. The layoffs affected the remaining staff immediately, as M&S focused on accelerating its personalization strategy in the retail industry, aiming to generate over £100 million in annual incremental revenue.

Lyst, a UK-based fashion e-commerce marketplace, is laying off approximately 50 employees, representing 25% of its staff, as part of a restructuring effort to conserve cash flow and move toward profitability. The layoffs, confirmed in November 2022, come after the company raised funding at a $700 million valuation in 2021 and had previously planned for an IPO. The shift reflects broader challenges in the e-commerce sector, where online sales growth has slowed as consumers returned to in-store shopping, prompting the startup to adjust its financial strategy under new CEO Emma McFerran.

FutureLearn on 2022-11-28.

Zilch on 2022-11-26.