Layoffs in United Kingdom

Carwow laid off 70 employees representing approximately 20% of its workforce on 2022-11-25.

Splyt, a technology company, is laying off 57 employees, placing them at risk of redundancy. The layoffs were announced by the founder, who cited a failure to secure necessary funding in a rapidly changed economic environment as the primary reason. This difficult decision comes after the company pursued a growth-over-profit strategy during the pandemic and later explored various funding options, including investment and acquisition. The founder expressed deep regret and takes full responsibility, stating the company will now return to its core business. The announcement was made with a commitment to supporting the affected staff during the transition.

Hopin, a virtual event management platform, conducted its third round of layoffs in 2022, cutting an additional 17% of its workforce in November. This followed a previous reduction of 29% earlier in the summer, affecting senior roles including the VP of product and head of data science. The layoffs are part of a broader company transformation and coincide with new product launches, as the tech industry adjusts post-pandemic. The exact number of employees affected and the total company size were not specified in the available content.

Infogrid on 2022-11-16.

Arrival on 2022-10-20.

Advertising data-management company InfoSum laid off approximately 20 employees earlier this month, representing about 12% of its workforce. The layoffs, which affected engineering and sales teams, were attributed to macroeconomic uncertainty and the company's struggle to meet revenue targets. Specifically, InfoSum has faced challenges gaining traction in the US market with its UK-built privacy-focused platform, failing to secure major anchor clients there despite success with European broadcasters and retailers. The layoffs follow other cost-cutting measures and coincide with the departure of founder Nicholas Halstead.

Flux Systems representing approximately 100% of its workforce on 2022-10-14.

London-based carbon accounting startup Emitwise has laid off an undisclosed number of employees as part of a "right-sizing" effort amid a challenging economic environment. The climate tech firm, which had 70 staff as of early October 2022, operates in the carbon management software industry, serving sectors like automotive and construction. While the exact scale of layoffs wasn't revealed, the move reflects broader pressures in the tech sector, even as climate tech has attracted significant investment. Emitwise, backed by investors including ArcTern Ventures, joins other climate startups like Infarm and Turntide in adjusting its workforce due to macroeconomic headwinds.

TrueLayer, a fintech company, has announced the closure of its AltFi media business after 10 years of operation. While specific layoff numbers were not disclosed, the shutdown implies the entire AltFi team is affected. The decision comes after facing severe headwinds over the past 18 months, despite strong journalism and brand loyalty. The company expressed gratitude to its staff, readers, and partners for their support over the decade, highlighting its role in covering the UK fintech industry's growth. This move reflects challenges in the media sector within fintech, impacting a specialized news provider that had become a trusted source for industry insights.

Bristol-based cybersecurity startup Immersive Labs has laid off 38 employees, representing 10% of its global workforce, as part of a restructuring effort to accelerate its path to cashflow breakeven. The company, founded in 2017, cited the need to adapt to the current economic downturn and focus on high-growth opportunities in proven markets. Despite the layoffs, Immersive Labs continues to hire for 32 open roles, primarily in the U.S., emphasizing strategic growth in key segments. The firm, which has raised $123 million in funding and serves clients like HSBC and Citi, aims to position itself for long-term success amid broader industry challenges affecting the UK tech sector.

SoftBank-backed adtech startup Permutive has laid off 30 employees, representing about 15% of its workforce, as economic concerns impact advertising spending and venture capital funding. The layoffs, which occurred across various departments including engineering and marketing, were attributed to over-hiring ahead of revenue. CEO Joe Root noted that the company had paused hiring in June, following similar moves by major tech firms like Google and Facebook in response to slowing ad spend. This reduction is part of a broader trend of tech industry layoffs amid a global economic downturn. Founded in 2015, Permutive provides data software for publishers and has raised $105 million in funding, including a round led by SoftBank's Vision Fund 2.

London-based events startup Pollen entered administration in August 2022 after failing to secure a buyer, a collapse that followed months of financial turmoil including missed staff payroll and unpaid customer refunds. The company, which had raised a $150 million Series C just months earlier, was forced into restructuring due to a challenging funding environment and reduced M&A activity. While its consumer-facing subsidiary and college travel business were set to continue separately, the failure to sell the entire company marked a significant downfall for the once-promising venture-backed firm in the global events and travel experience industry.

OnlyFans, the subscription-based platform known for adult content, has laid off an unspecified number of employees as part of a move to "reshape certain teams," announced in early August 2022. The company, which experienced explosive growth during the pandemic, cited this restructuring as necessary for its future and its creator community, offering affected staff severance and career support. While exact figures on the layoffs and total workforce weren't disclosed, the company had previously noted it was expanding its team by 2-3% monthly. This decision reflects broader adjustments within the creator economy, as OnlyFans navigates post-pandemic operations under new leadership, following a period where user and revenue numbers surged dramatically.

TikTok, the popular short-form video platform owned by ByteDance, has initiated a global restructuring that includes layoffs, affecting employees in the US, EU, and UK. While the exact number is not officially confirmed, internal sources suggest fewer than 100 roles are being eliminated, a small fraction of its global workforce of thousands. The move, announced internally in late 2022, is part of a broader reorganization amid economic uncertainties, leading to job cuts primarily in operations and marketing teams, along with the closure of some vacant positions. This restructuring follows TikTok's decision to halt expansion plans, including its live shopping platform TikTok Shop in the US and Europe, as the company adjusts staffing to align with its goals in a challenging tech industry climate.

In May 2022, the Amazon aggregator startup Heroes, based in London and founded in 2020, quietly laid off 20% of its staff, affecting up to 24 employees out of a workforce of around 120. The company, which had raised over $300 million in funding, cited challenging market conditions, a potential global recession, shifting consumer spending, and difficulties in raising future capital as reasons for the cuts. This move was part of a broader industry shift from hypergrowth to profitability, as Heroes aimed to restructure and become a cash-flow positive business. The layoffs were sudden and company-wide, with the investment team being particularly hard hit.

Zego laid off 85 employees representing approximately 17% of its workforce on 2022-07-14.

In July 2022, Arrival, a UK-based commercial electric vehicle manufacturer, announced a major restructuring plan to slash costs and reduce its global workforce by up to 30%. This significant layoff, impacting a substantial portion of its employees, was driven by a challenging economic environment marked by supply chain disruptions, the ongoing pandemic, geopolitical tensions, and rising inflation. The cost-cutting measures, which also included a targeted 30% reduction in overall spending, were designed to protect the business and ensure it could meet its production target of starting EV van manufacturing in the third quarter of 2022, utilizing its existing $500 million in cash reserves. This move placed Arrival among other EV companies, like Rivian and Tesla, that were implementing layoffs amid tightening economic conditions.

Babylon laid off 100 employees on 2022-07-12.

Live events startup Hopin, valued at $7.75 billion, is laying off 242 employees, which represents 29% of its workforce of about 834 people. This marks the company's second round of job cuts in 2022, following a 12% reduction earlier in February. The UK-based virtual and hybrid events platform, which saw rapid growth during the pandemic, cited the challenging macroeconomic climate and the need to streamline its operations for sustainable, profitable growth. As the world shifts back to in-person events, Hopin faces reduced demand for its services, prompting this significant restructuring to focus on its core mission of connecting people through technology.

Chessable laid off 29 employees on 2022-07-04.

Freetrade's media division AltFi is shutting down after a decade, resulting in layoffs for its entire staff. The closure, announced by the company, comes after 18 months of severe headwinds, despite strong journalism and a loyal brand following in the fintech news sector. This marks the end of its role covering the UK fintech industry's growth and challenger brands.

In September 2022, UK-based used car marketplace Cazoo announced its complete exit from the European Union, resulting in an additional 750 layoffs. Combined with 750 job cuts announced in June, this brought the total to 1,500 employees laid off in 2022, representing 30% of its workforce. The company, which had expanded into the EU earlier in the year, cited a strategic review and mounting financial losses—reporting £243 million in losses for the first half of 2022. By withdrawing from Germany, Spain, France, and Italy to focus solely on the UK market, Cazoo aims to achieve significant cost savings and accelerate its path to profitability amid challenging macroeconomic conditions, including inflation and supply chain issues.

Impala, a tech company, recently conducted layoffs as part of a broader trend in the industry. While specific numbers for Impala were not detailed in the article, the context highlights ongoing workforce reductions across VC-funded tech firms, particularly in mid-2022. These cuts are often driven by financial pressures, such as running out of money or market downturns, affecting companies of various scales. The layoffs reflect a challenging period where even high-growth startups are reassessing their staffing needs, though the exact percentage of employees impacted at Impala remains unspecified. The industry continues to see patterns of companies letting people go, sometimes abruptly, as they navigate economic uncertainties.

Curve, a fintech company, has announced the closure of its AltFi media business after a decade of operation, resulting in layoffs for its entire staff. While the exact number of employees affected hasn't been disclosed, the shutdown is attributed to severe financial headwinds over the past 18 months. The company expressed gratitude to its team and community, marking the end of its role in covering the UK fintech sector. This move reflects broader challenges within the fintech media and information services industry.

Global sports streaming service DAZN is laying off approximately 50 employees at its London headquarters, representing about 5% of its UK workforce and 2% of its global team of over 2,500. The redundancies, announced in late May 2022, are part of a strategic shift to decentralize operations and focus on growth in key markets like Spain, Italy, and Germany. Concurrently, DAZN is hiring around 50 new staff in Spain ahead of the La Liga season launch, indicating a realignment rather than a simple downsizing. The company, which has expanded rapidly since its 2016 launch to operate in 200 countries, continues to invest in sports rights and regional expansion despite these organizational adjustments.

In May 2022, Getir, a $12 billion instant grocery delivery startup, announced plans to lay off 14% of its global workforce. With an estimated 32,000 employees across nine countries, this restructuring impacted approximately 4,480 staff. The Turkish company, operating in the competitive quick-commerce industry, cited a need to reduce costs and scale back its aggressive, capital-intensive expansion plans, including cuts to hiring, marketing, and promotional discounts. This move reflected a broader market downturn affecting tech companies, particularly in the instant delivery sector, where rivals like Gorillas were also implementing layoffs.

London-based speedy grocery startup Zapp is laying off approximately 10% of its workforce, affecting an estimated 200 to 300 employees, as part of a restructuring effort announced in late May 2022. The company, which operates in the competitive on-demand grocery delivery industry, cited a challenging macroeconomic climate—including high inflation, the war in Ukraine, and supply chain disruptions—as key reasons for the cuts. Alongside the layoffs, Zapp is closing several of its "dark stores" outside London, including in Manchester, and focusing its operations primarily on the capital to drive efficiency and accelerate its path to profitability. The company, which had raised $300 million in funding, is also entering a partnership with rival Jiffy, which recently exited the grocery business.

In May 2022, UK-based travel and entertainment technology company Pollen laid off approximately 200 employees, representing about one-third of its workforce. This significant reduction occurred just weeks after the company announced a $150 million Series C funding round. The layoffs were part of a broader cost-cutting initiative amid a cooling tech market, reflecting challenges in the events and travel tech industry. Pollen, which operated as a two-sided marketplace connecting music festivals with travelers, faced mounting difficulties that later culminated in its bankruptcy, leaving many employees unpaid.

In February 2022, virtual events platform Hopin laid off 138 full-time employees, representing 12% of its staff, along with some contractors. The venture-backed unicorn, which had grown rapidly during the pandemic and completed several acquisitions including a $250 million purchase of StreamYard in 2021, cited a need for greater efficiency and sustainable growth. CEO Johnny Boufarhat explained the cuts aimed to address overlaps and duplications that emerged from its fast expansion, marking a shift from its previous aggressive scaling and a $400 million raise at a $5.65 billion valuation just months earlier. The company provided severance, benefits, and job-hunting support to affected employees.

Privitar laid off 20 employees on 2021-01-27.

HumanForest on 2020-09-25.

In September 2020, Bleacher Report, a digital sports media company under AT&T's WarnerMedia, laid off approximately 20 employees from its London office, representing nearly the entire UK staff and leaving only a skeleton crew of about five. This reduction, affecting a significant portion of the roughly 30-person office dedicated to the B/R Football brand, was driven by Turner's exit from its UEFA Champions League broadcasting rights deal earlier that summer, which undermined the justification for maintaining the London team. The layoffs occurred amid broader corporate uncertainty following AT&T's acquisition of Time Warner, marked by leadership changes and strategic shifts, fueling speculation about Bleacher Report's future direction and potential asset sales.

In August 2020, Swedish healthtech company Docly laid off 80% of its UK team, cutting 8 out of 10 employees, as it retreated from the UK market. This strategic shift came after a year without growth, despite a broader surge in telemedicine demand during the COVID-19 pandemic. Docly, a spin-off from digital health provider Min Doktor, had struggled to secure clients in the UK for its text-based consultation services. The company decided to refocus on its core strength as a technology platform supplier, winding down its direct healthcare offerings. Operating in the competitive digital health industry, Docly faced challenges with funding and market expansion, ultimately leading to this downsizing to streamline operations.

Perkbox, a London-based HR software company focused on enhancing employee experience, laid off at least four employees last week across multiple departments. While the exact percentage of its total workforce affected is not specified, the company publicly shared a talent directory on LinkedIn to help these former staff members connect with new opportunities. This move reflects ongoing adjustments within the tech industry as companies streamline operations amid economic uncertainties.

Skyscanner, a global flight comparison website based in Edinburgh, Scotland, laid off 300 employees last month, representing 20% of its workforce. The company, owned by China's Ctrip, cited significant revenue declines due to the pandemic's severe impact on the travel industry, with a full recovery expected to take several quarters or even years. In conjunction with the layoffs, Skyscanner plans to close or scale back many of its international offices outside the U.K. The cuts affected multiple departments across the organization.

Funding Circle's media division AltFi is shutting down after a decade, resulting in layoffs for its entire staff. The closure comes after 18 months of severe headwinds, despite strong journalism and a loyal following in the fintech news sector. The company expressed gratitude to its employees and community for their support over the years, marking the end of its role in covering the UK fintech industry's growth.

In June, London-based digital bank Monzo laid off 120 employees in the U.K., following an earlier round in April that affected 165 staff in Las Vegas. These cuts, impacting hundreds across multiple departments including engineering and design, come as the fintech company faces reduced revenue from consumer spending pullbacks, which lowers interchange fees from its debit card products. The company, which also furloughed 295 U.K. employees previously, recently raised £60 million at a significantly lower valuation. While the exact total workforce isn't specified, these layoffs reflect broader challenges in the tech and fintech sectors amid economic pressures.

Dotscience, a London-based startup that developed DevOps tools for machine learning, has shut down entirely this week after running out of funds and failing to secure additional financing. The closure resulted in all 10+ employees being laid off, representing 100% of its workforce, including seven engineers. Operating in the AI/ML infrastructure industry as a small-scale startup, the company ceased operations in late 2023, highlighting the challenging funding environment for early-stage tech firms.

In May 2020, the U.K.-based experience marketplace Pollen laid off 69 employees across North America, representing approximately 31% of its then 216-person workforce. An additional 34 staff in the U.K. were placed on furlough. The layoffs were a direct result of the severe impact the COVID-19 pandemic had on the travel and events industry, which forced countries into lockdown and triggered a recession. Despite having raised $60 million in funding just months prior in October 2019, the startup was forced to make significant cuts to its operations.

Revolut laid off 60 employees representing approximately 3% of its workforce on 2020-05-11.

Culture Trip, a travel media startup, plans to lay off nearly half of its UK workforce, proposing 95 redundancies out of approximately 240 employees in the UK, following similar cuts in its New York office. The layoffs, announced in early May 2020, are a direct response to the COVID-19 pandemic severely impacting the travel industry. The company, which had raised over $100 million in funding, stated the cuts were necessary to manage costs and protect the business long-term. Employees expressed frustration over the handling of the layoffs, with the content team in London being particularly hard-hit, set to lose 64 out of 85 staff members.

In late April, London-based food delivery startup Deliveroo laid off 367 employees, representing 15% of its workforce. The cuts impacted multiple departments across its global operations, including offices in London, Dubai, and Taipei. While the company did not specify detailed reasons, the layoffs are widely seen as a response to the broader challenges in the food delivery sector, including persistent unprofitability and the economic pressures from the pandemic on restaurants. Deliveroo, which operates in 13 markets, has since promoted a talent directory to help affected employees find new opportunities.

In April 2020, GoCardless, a UK-based fintech company specializing in recurring payments, announced cost-cutting measures including layoffs in response to the COVID-19 pandemic's economic impact. The company cited a 10% decline in April processing volumes, particularly from health & fitness, membership organizations, and small businesses, despite strong new business bookings. To ensure long-term viability amid projected revenue drops and a challenging macroeconomic environment, GoCardless reduced its workforce, though the exact number of layoffs and percentage were not publicly detailed in this announcement. The move aimed to preserve cash and steer the loss-making startup toward profitability during the global crisis.

LoopMe, an ad-tech company, has conducted layoffs as part of broader industry cost-saving measures amid the coronavirus pandemic. The financial downturn has exacerbated existing pressures from dwindling investment and privacy changes, forcing clients to pause marketing budgets. While the exact number of employees affected at LoopMe is not specified, the layoffs reflect the severe impact on the ad-tech sector, where multiple firms are taking similar actions to stay afloat during this economic crisis.

In April 2020, amid the financial pressures of the coronavirus pandemic, U.K. challenger bank Monzo announced the closure of its Las Vegas customer support office, resulting in 165 layoffs. These employees, who provided overnight support to Monzo's U.K. customers, represented a small portion of the company's then over 4 million customers, with their services deemed disproportionately costly for handling only 12% of queries. The decision, part of broader cost-cutting measures that included furloughs and salary reductions in the U.K., was accelerated by the economic downturn. Monzo, operating in the fintech industry as a fully licensed bank, offered affected staff two months' notice with full pay and healthcare support, while shifting overnight support operations to the U.K. This move did not impact its U.S. launch plans, as the Las Vegas team solely served U.K. clients.

OneWeb, a UK-based satellite internet startup, filed for Chapter 11 bankruptcy on March 27, 2020, after its largest investor, SoftBank, declined to provide additional funding amidst the financial turmoil caused by the COVID-19 pandemic. As part of the bankruptcy process, the company laid off approximately 85% of its workforce, which amounted to about 451 employees out of a total of 531. The pandemic disrupted OneWeb's advanced negotiations for crucial financing needed to complete its ambitious global broadband constellation, which had already placed 74 satellites in orbit. With total liabilities of $2.1 billion and significant debts to creditors like Arianespace, the company's inability to secure further investment led to this drastic restructuring in the competitive satellite communications industry.