Layoffs in Luxembourg

Kleos Space, a Luxembourg-based geospatial intelligence startup specializing in radio-frequency reconnaissance satellites, has filed for bankruptcy after running out of cash. The company, which operated a constellation of satellites to detect and locate RF signals for government and commercial clients, was unable to secure additional funding. Its financier, Pure Asset Management, withdrew further credit on July 25, leading to the bankruptcy announcement on July 26. Kleos faced setbacks including satellite malfunctions, launch delays, and challenges in raising capital, ultimately leaving it unable to meet financial commitments. The company, part of the space and defense industry, had developed disruptive technology and served a global customer base but succumbed to these financial and operational hurdles.

Messaging app Rakuten Viber has laid off 45 employees, representing 8% of its global workforce of 550 people. This marks the first significant round of cutbacks since the company's founding 12 years ago. Announced in November 2022, the layoffs are part of a strategic refocus to invest more heavily in developing its fintech and utility products, following the launch of payment features earlier that year. The company, which operates in the consumer technology and messaging industry and boasts 250 million users, stated the decision was essential to adapt to changing market conditions and shift from being just a messaging app to a broader service platform. Approximately 20 of the affected employees were based in Israel.

Talkwalker representing approximately 15% of its workforce on 2022-08-03.

In June 2022, MindGeek, the parent company of Pornhub, implemented layoffs affecting an unspecified number of employees as part of a major restructuring. This followed the resignations of CEO Feras Antoon and COO David Tassillo. The layoffs were driven by cost-cutting measures after the company faced significant revenue declines over the previous 18 months. These financial struggles were largely due to a series of controversies, including reports that Pornhub had hosted nonconsensual and child sexual abuse material, leading to payment processors like Visa and Mastercard cutting ties. While the exact number laid off was not disclosed, rumors suggested significant cuts, though the company denied claims of over half its workforce being affected. MindGeek, a major player in the online adult entertainment industry, had around 1,600 employees globally at its peak.