Layoffs in United States

Genesis, a cryptocurrency lender under Barry Silbert's Digital Currency Group, has laid off 60 employees, representing 30% of its workforce, which now stands at approximately 145. This significant staff reduction, reported in early 2023, is part of the company's efforts to cut costs and avoid bankruptcy amidst severe financial strain. The crisis was triggered by the collapse of major clients, including the FTX exchange and hedge fund Three Arrows Capital, leading Genesis to freeze client redemptions in November 2022. The firm faces mounting pressure from creditors and ongoing liquidity challenges within the volatile crypto industry.

Stitch Fix, the online personal styling service, is laying off 20% of its salaried workforce, impacting approximately 340 employees based on its June count of about 1,700 salaried staff. This significant reduction, announced on Thursday, comes as founder Katrina Lake reassumes the role of interim CEO following the immediate departure of CEO Elizabeth Spaulding. The company, which experienced a surge during the pandemic, has been struggling with declining sales, a shrinking customer base, and failed initiatives like the Freestyle direct-buy option. Additionally, the closure of its Salt Lake City distribution center will result in about 150 further layoffs. These cuts aim to address financial challenges and reposition the brand in the competitive apparel subscription industry.

TCR2 representing approximately 40% of its workforce on 2023-01-05.

Everlane laid off 30 employees representing approximately 17% of its workforce on 2023-01-05.

SoundHound laid off 200 employees representing approximately 50% of its workforce on 2023-01-05.

Israeli fintech company Personetics has laid off 30 employees, representing 8% of its 350-person workforce. The layoffs occurred in early January 2023, as the company, which provides AI-driven personalization tools for banks, navigated a broader tech sector downturn. This reduction came approximately a year after Personetics secured $85 million in growth funding from Thoma Bravo, bringing its total funding to $160 million within a ten-month period. The firm, operating in the competitive financial technology industry, cited the need to adjust its team size amidst challenging market conditions.

Compass on 2023-01-05.

Attentive, a leading SMS marketing company serving thousands of retailers, has laid off 15% of its workforce. Based on its reported 1,300 employees as of September 2022, this amounts to approximately 195 people. The company confirmed the cuts in January 2023, citing the need to ensure durable future growth amid a challenging economic environment. This move is part of a broader wave of layoffs across the e-commerce and tech sectors, as inflation and tightened consumer spending lead brands to reduce their own expenditures, directly impacting B2B service providers like Attentive.

On January 5, 2023, digital identity verification company Socure laid off 104 employees, representing nearly 19% of its peak workforce. The company, which had over 550 employees prior to the cuts, cited softer demand from key market verticals like fintech, gaming, and crypto, alongside a broader economic slowdown. This followed a previous reduction of 69 employees in mid-2022. CEO Johnny Ayers explained the layoffs resulted from aggressive hiring in 2021 just before the economic downturn, prompting a strategic shift to focus on core product innovation and enterprise growth with leaner teams in 2023. The company is providing benefits and outplacement support to affected staff.

Augury, an Israeli-American unicorn startup specializing in AI-powered mechanical diagnostics, is laying off 20 employees, representing 5% of its workforce. The company, which employed around 400 people, announced the cuts as part of its strategic plan for 2023, aiming to streamline operations while focusing on doubling its revenue. Despite the layoffs, Augury, valued at over $1 billion following a $180 million funding round in late 2021, plans to continue hiring in alignment with client needs. The move reflects broader adjustments in the tech industry amid economic uncertainties.

Salesforce laid off 8,000 employees representing approximately 10% of its workforce on 2023-01-04.

Butterfly Network, a company in the advanced medical equipment and technology industry, announced a significant workforce reduction on January 11, 2023, as part of a plan approved by its Board of Directors to improve efficiency, reduce operating expenses, and extend liquidity. The layoffs affected approximately 25% of the company's total employees, though the exact number of employees laid off was not specified in the announcement. The company estimated it would incur between $5 million and $6 million in cash charges primarily for severance and benefits, with most costs expected in the first half of 2023. This restructuring reflects broader challenges in streamlining operations within the competitive medical tech sector.

Vimeo, the video hosting and sharing platform, laid off 11% of its workforce in early 2023 as part of a broader restructuring effort. This follows a previous 6% reduction in July 2022. The decision, driven by a need to achieve sustainable profitability amid a deteriorating economic environment with rising interest rates and recession fears, aims to refocus the company on its core priorities: re-accelerating self-serve growth and doubling down on Vimeo Enterprise. The layoffs affected nearly every region and department, with the majority of impacted roles in Sales and R&D, as the company streamlines to operate more efficiently and control its destiny independent of broader market conditions.

Wyre representing approximately 100% of its workforce on 2023-01-04.

Astronomer, a data orchestration platform company, laid off 76 employees, representing over 20% of its workforce, in January 2023. The company's leadership, including Scott Yara, acknowledged the decision stemmed from scaling the team too aggressively across all functions before the go-to-market strategy and adoption patterns for its cloud product, Astro, were fully established. This premature expansion, fueled by significant capital raises, led to a necessary restructuring to simplify the organization and refocus the business. The layoffs were part of a difficult organizational change aimed at ensuring long-term sustainability in the competitive tech industry.

On January 4, 2023, Israeli video cloud platform Kaltura announced its second round of layoffs within six months, dismissing 75 employees, which represents 11% of its workforce. This includes 39 employees in Israel. Following a previous 10% reduction in mid-2022, the company, which had 758 employees at the end of 2021, is streamlining to save $16 million annually. Kaltura cited the need to adapt to lower demand and reduced organizational budgets in its market segment amid a challenging macroeconomic environment. The NASDAQ-listed company, providing video management systems primarily to businesses and media companies, expects the reorganization to be completed in the first half of 2023, incurring $1 million in pre-tax costs.

Amazon laid off 8,000 employees representing approximately 2% of its workforce on 2023-01-04.

Pegasystems laid off 245 employees representing approximately 4% of its workforce on 2023-01-03.

Uniphore laid off 76 employees representing approximately 10% of its workforce on 2023-01-03.

Amdocs, a global software and services provider for communications and media companies, laid off 700 employees in early January 2023, representing approximately 3% of its total workforce. This decision came despite the company reporting strong financial performance, including a 20% stock increase and $4.58 billion in revenue for fiscal 2022. The layoffs, which included 100 positions in Israel where Amdocs employs about 5,000 people, were described as a measure to maximize flexibility and efficiency amid broader economic uncertainties. The company, which employs around 30,000 globally, stated it continues to recruit for other roles while implementing these cutbacks.

Micron laid off 4,800 employees representing approximately 10% of its workforce on 2023-01-01.

Qualcomm, a leading wireless technology and semiconductor giant, is laying off 153 employees in San Diego, representing about 1% of its 12,500-person workforce in the region. The cuts, effective in February 2023, are part of broader cost-reduction measures amid a global slowdown in smartphone demand. The company, which employs 51,000 worldwide, had previously implemented a hiring freeze and lowered its sales forecast, citing a significant drop in smartphone sales and bloated chip inventories across the industry. This move reflects wider challenges in the tech and semiconductor sectors as companies adjust to reduced consumer spending and economic uncertainty.

Self-driving truck company TuSimple laid off approximately 350 employees, representing 25% of its U.S. workforce, in December 2022 as part of a major restructuring. This move followed a challenging year marked by the end of a key partnership with Navistar, executive shakeups, federal investigations, and a significant stock decline. Facing economic pressures and high cash burn, the company aimed to streamline operations and focus on core technology development, scaling back unprofitable freight expansion. Affected U.S. staff received two months of pay and severance, while TuSimple continued its shift toward commercialization and sold off its Asia-focused business.

Homebot, a real estate technology company, laid off 18 employees on December 14, 2022, representing 13% of its workforce. CEO Charlie Pratt cited the challenging economic environment, including the fastest mortgage rate increase in decades, a more than 50% decline in lending volumes, and reduced profitability in the mortgage industry. While the company experienced over 50% year-over-year revenue growth, the latter half of 2022 proved difficult, leading to the decision as Homebot had over-hired relative to the new market realities. The layoffs were a one-time adjustment with no further reductions planned, and affected employees received severance and support packages.

Health IQ on 2022-12-19.

German sustainable fintech startup Tomorrow announced in December 2022 that it is laying off a quarter of its workforce, affecting around 30 of its 120 employees. The company, which operates a smartphone bank focused on green investments, stated the drastic staff cuts are necessary to ensure stability for the remaining team amid a broader fintech crisis. Despite raising millions in funding and introducing customer fees, Tomorrow reported significant losses of over 14 million euros, as it has not yet achieved profitability. The layoffs are part of cost-saving measures to help the company continue pursuing its mission of financing reforestation projects and sustainable funds.

Autograph, the NFT and Web3 platform co-founded by Tom Brady, has laid off dozens of employees, representing a significant portion of its 124-person workforce. The cuts, which occurred in December 2022, primarily affected marketing, HR, and creative departments. The company cited challenging market conditions as the reason for the "small workforce reduction." This move followed Autograph's decision to sever ties with its board member, the disgraced FTX founder Sam Bankman-Fried. Backed by major investors like Andreessen Horowitz, the Los Angeles-based startup operates in the digital collectibles and blockchain industry, having launched during the peak of the NFT sports boom.

SonderMind representing approximately 15% of its workforce on 2022-12-16.

LeafLink laid off 80 employees representing approximately 31% of its workforce on 2022-12-15.

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

BigCommerce laid off 180 employees representing approximately 13% of its workforce on 2022-12-15.

Freshworks, a Nasdaq-listed SaaS unicorn in the enterprise tech industry, has laid off approximately 90 employees, which represents less than 2% of its workforce of over 4,000 people. The layoffs, occurring across sales, marketing, and engineering teams, are part of an organizational reshuffle aimed at fueling business growth and aligning resources with critical initiatives amid macroeconomic pressures. This move reflects broader industry challenges, including inflationary pressures and reduced software spending, which have prompted similar actions by other SaaS companies. The affected employees have reportedly received severance packages, and the company has integrated its HR management system, Freshteams, with another product as part of these changes.

Headspace laid off 50 employees representing approximately 4% of its workforce on 2022-12-14.

Online ordering company ChowNow is laying off 40 employees, representing about 10% of its staff, as demand for delivery services stabilizes post-pandemic. This follows a previous round of cuts in July, when the company reduced its workforce by 20% from about 500 employees. The Los Angeles-based firm, which partners with around 20,000 independent restaurants, cites the need to ensure long-term sustainability amid shifting consumer dining habits and a tightening investment climate. Founded in 2012, ChowNow positions itself as a restaurant-friendly alternative to larger delivery platforms. This move reflects broader downsizing trends in the restaurant technology sector this year.

Quanergy Systems laid off 72 employees on 2022-12-14.

Landing on 2022-12-14.

In December 2022, Edgio, Inc., an IT services and consulting company, approved a restructuring plan to reduce operating costs and optimize its business model. As part of this initiative, the company announced a reduction in force affecting approximately 95 employees, which represents about 10% of its global workforce. The layoffs are expected to be implemented through the second quarter of 2023 and are projected to result in approximately $14 million in net annual savings. Concurrently, the company's Chief Growth Officer departed, with his duties being assumed by the CEO.

Viant, a publicly traded digital advertising technology company, announced plans in December 2022 to lay off 46 employees, representing 13% of its workforce. The layoffs are part of a cost-reduction strategy aimed at sharpening the company's focus on key growth priorities amidst an adverse macroeconomic environment and a broader downturn in digital advertising. This move aligns with similar workforce reductions across the adtech industry, as companies like Meta and Google also faced declining ad sales. Viant, which operates a demand-side platform and owns properties such as MySpace, cited a deceleration in advertising spend from key verticals like automotive and retail as a contributing factor.

Komodo Health, a healthcare data analytics startup valued at $3.3 billion, laid off 78 employees, representing 9% of its workforce, in December 2022. The restructuring occurred amid a frigid IPO market, with the company aiming to improve profitability ahead of a potential public debut. This move followed the departure of its CFO and came alongside a $200 million equity infusion from investors Dragoneer and Coatue. The co-founders described the layoffs as a step to ensure capital efficiency in a changing economic environment, marking the company's second round of cuts since 2020.

TaxBit on 2022-12-13.

Pluralsight, a technology workforce development platform, laid off approximately 400 employees in early 2024, representing about 20% of its workforce. The layoffs were part of a restructuring effort to streamline operations and focus on core business priorities, including its AI-driven learning tools. This move follows the company's acquisition by Vista Equity Partners and reflects broader adjustments in the edtech and corporate training industry.

Caribou on 2022-12-12.

Balto laid off 35 employees on 2022-12-12.

Freshly laid off 329 employees on 2022-12-12.

Convene, a company in the workplace and hospitality industry, laid off a number of its team members this week as part of a reassessment of its organizational structure. The decision, described as incredibly tough by CEO Ryan Simonetti, was driven by the need to position the business for future growth in a challenging and dynamic macroeconomic environment. While the exact number of employees affected and the total workforce size were not specified, the layoffs reflect a strategic shift. Simonetti expressed regret, noting in hindsight that the company would have ramped up more slowly post-pandemic and been more cautious with R&D investments in certain areas. The company is offering support and seeking to connect the impacted individuals, who were instrumental to its culture and success, with new opportunities.

In December 2022, the edtech unicorn Outschool conducted its second round of layoffs for the year, letting go of 43 employees, which represented a quarter of its staff. The company, which was last valued at $3 billion, cited a dramatic slowdown in growth as students returned to in-person schooling and a challenging funding environment marked by recession fears and higher investor demands for profitability. This followed an earlier layoff in July that affected 18% of its workforce, underscoring the broader struggles within the once high-flying edtech sector.

Autobooks, a financial technology company, has laid off an unspecified number of employees amid a broader wave of tech industry job cuts. The layoffs occurred in December 2022, reflecting the challenging economic environment and strategic adjustments within the tech sector. While exact figures regarding the total workforce and percentage affected were not disclosed, this move aligns with a trend of cost-cutting and restructuring seen across many technology firms during this period.

C2FO laid off 20 employees representing approximately 2% of its workforce on 2022-12-09.

ZenLedger representing approximately 10% of its workforce on 2022-12-09.

In December 2022, Israeli cybersecurity unicorn Armis laid off 25 employees, representing about 3.5% of its 670-person workforce. The company, which had raised $300 million at a $3.4 billion valuation the previous year, stated the layoffs were part of a streamlining process and adjustments to its work plan. Armis cited the need to shift budgets between departments and prepare for a potential future economic slowdown, even while reporting strong demand and expecting to double its revenue that year. This move was positioned as a strategic step to build a leading global cybersecurity company for the long term.