Layoffs in United States

JetClosing representing approximately 100% of its workforce on 2022-06-15.

Cryptocurrency exchange Coinbase is laying off approximately 1,100 employees, which represents 18% of its full-time workforce of about 5,000. Announced via an employee email in June 2022, the drastic cuts are attributed to preparing for a potential recession and a looming "crypto winter," which could severely reduce trading activity. CEO Brian Armstrong stated the company grew too rapidly during the bull market, leading to unsustainable costs, and emphasized the need to manage its burn rate. This move follows a hiring pause and a significant decline in the company's stock price, reflecting broader turmoil in the crypto industry.

Redfin laid off 470 employees representing approximately 8% of its workforce on 2022-06-14.

TIFIN laid off 24 employees representing approximately 10% of its workforce on 2022-06-14.

Compass laid off 450 employees representing approximately 10% of its workforce on 2022-06-14.

Desktop Metal representing approximately 12% of its workforce on 2022-06-13.

Automox, a cybersecurity software company, conducted a layoff in 2023, parting ways with a number of talented employees. The company cited the challenging broader economic climate and macroeconomic environment as the reason, stating that while it remains a growing business in a strong financial position, it is not immune to these external pressures. The exact number of employees affected and the percentage of the workforce were not disclosed in the announcement. The post expressed appreciation for the contributions of those impacted and encouraged the professional community to help them find new opportunities.

Wave Sports and Entertainment, a Santa Monica-based sports media startup, laid off 56 employees in June 2022, representing about one-third of its staff and reducing its workforce to 110 people. The company cited worsening economic conditions and a need to focus on core areas like storytelling and league partnerships, with most cuts coming from supporting functions. This restructuring occurred just months after the company raised a $27 million Series B round in February, with backing from investors and star athletes. WSE produces digital sports content for platforms like Snap and TikTok, reaching over 115 million followers globally.

BlockFi, a cryptocurrency lending platform, announced on June 13, 2022, that it had secured a $400 million revolving credit facility and a potential acquisition option from FTX US, totaling up to $680 million. This move came in response to significant crypto market volatility, including the fallout from Celsius and Three Arrows Capital (3AC), which led to increased client withdrawals and approximately $80 million in losses for BlockFi from its exposure to 3AC. The company emphasized that these losses were absorbed internally without impacting client funds. The deal aims to bolster liquidity and protect client assets, reflecting BlockFi's commitment to maintaining stability amid industry turbulence.

Houston-based IT automation company Liongard has laid off an unspecified number of employees this week, a decision CEO Joe Alapat described as the most difficult he has made at the company. Citing a challenging market for technology companies and a strategic shift toward prioritizing profitability, the layoffs are part of organizational changes aimed at building a more resilient business. While the exact scale of the reduction is not disclosed, the move reflects broader industry pressures as the firm, which serves the MSP community, adjusts its plans based on market and investor feedback.

Keepe on 2022-06-10.

Albert laid off 20 employees representing approximately 8% of its workforce on 2022-06-10.

Stitch Fix, an online personal styling service, announced layoffs on Thursday, cutting 15% of its salaried workforce, which amounts to approximately 330 employees. This represents about 4% of the company's total workforce. The move is part of a cost-cutting effort to address challenges such as high inflation, reduced consumer demand, and rising expenses in supply chain, marketing, and labor. The company expects to save $40 million to $60 million in fiscal year 2023 from these cuts, while also forecasting a revenue decline of up to 15% for the fourth quarter. CEO Elizabeth Spaulding stated the decision aims to position Stitch Fix for profitable growth amid ongoing struggles to attract new users. The layoffs primarily affect corporate and styling leadership roles, reflecting broader trends in the tech and retail sectors as companies adjust to post-pandemic economic shifts.

Convoy laid off 90 employees representing approximately 7% of its workforce on 2022-06-09.

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Starship Technologies, a leader in autonomous delivery robots, announced on June 9, 2022, that it is reducing its workforce by 11% as part of internal changes to navigate the challenging global macroeconomic environment. The company is closing select service locations in the U.S. and Germany over the next two months, impacting staff both at those sites and the corporate level. This restructuring aims to focus on cost savings and improving profitability by concentrating on markets with a strong merchant mix and customer base that align with near-term financial goals. Despite recent funding of nearly $100 million earlier in the year, Starship, like many tech startups, is adapting to shifts in the economy and investment landscape to sustain its long-term success in the autonomous delivery industry.

The Grommet laid off 40 employees representing approximately 100% of its workforce on 2022-06-09.

Truepill, a digital health and pharmacy fulfillment platform, announced layoffs impacting approximately 15% of its workforce on June 8, 2022. The company's CEO cited a need to adapt to shifting market conditions and achieve long-term sustainable growth and profitability. While not disclosing exact figures, the reduction reflects a strategic shift toward greater financial discipline, despite the company's continued belief in its mission and platform value. The move underscores broader adjustments within the healthcare technology sector as companies navigate economic changes.

Sendoso, a SoftBank-backed marketing and corporate gifting startup, laid off approximately 100 employees on Monday, June 6, 2022, representing about 14% of its then 700-person workforce. The cuts affected staff across business units in the United States and Ireland. The company cited market volatility, global crises impacting the tech sector, and the need to adjust operations as reasons for the reduction. This move occurred amid a broader wave of tech industry downsizing, where falling valuations and tightening venture capital have forced many startups to cut costs. Sendoso had recently raised a $100 million Series C round led by SoftBank in September 2021 and was in the process of relocating its headquarters from San Francisco to Phoenix.

Dutchie laid off 50 employees representing approximately 7% of its workforce on 2022-06-06.

Tesla announced layoffs on June 3, 2022, cutting 10% of its salaried workforce, which translates to nearly 10,000 employees based on its global headcount of 99,290 at the end of 2021. CEO Elon Musk cited overstaffing and a "super bad feeling" about the economy as reasons, while clarifying that production workers would not be affected and hourly staffing would increase. The news triggered an 8-9% drop in Tesla's stock and drew a pointed response from President Joe Biden, who contrasted the cuts with investments by Ford and Stellantis in electric vehicles. As a major player in the automotive and clean energy industry, Tesla's move reflects broader economic uncertainties and strategic adjustments in scaling its operations.

Superhuman, a premium email app startup backed by Tiger Global, laid off 22% of its workforce, affecting 23 employees, on June 3, 2022. This reduction comes just a month after the company launched its long-awaited integration with Microsoft Outlook, a move aimed at expanding its user base beyond Gmail. Despite raising $126 million and reaching an $825 million valuation, the company is part of a broader wave of tech layoffs driven by shifting venture capital investment and efforts to control spending. The layoffs raise questions about the immediate impact of the Outlook launch, though Superhuman offered affected staff severance and support services.

Clubhouse on 2022-06-03.

Food52, a food and home goods publisher, laid off 21 employees on Thursday, representing about 15% of its total staff. This marks the company's second round of cuts in two months, following 20 layoffs in April attributed to internal reorganization. The latest reductions primarily affected the editorial team, which now has 15 members, while remaining editorial and some creative staff have moved to 32-hour workweeks with full-time benefits.

Gemini laid off 100 employees representing approximately 10% of its workforce on 2022-06-02.

Insurtech company Policygenius laid off approximately 25% of its workforce, affecting an estimated 170 employees, in early June 2022. This significant reduction came less than three months after the firm raised $125 million in a Series E funding round. CEO Jennifer Fitzgerald cited the sudden and dramatic economic shift as the reason, stating the company needed to adapt its strategy. Policygenius, which operates an online platform for comparing and purchasing insurance, had reported strong growth in its home and auto insurance segments prior to the layoffs. The company, positioned as a tech-enabled brokerage, stated it would continue to invest in its core insurance businesses despite the workforce reduction.

Esme Learning on 2022-06-02.

Supply-chain technology startup Stord laid off 59 employees, representing about 8% of its 700-person workforce, on June 2, 2022. This move came as a shock to many, occurring less than a month after the company announced $120 million in new Series D funding and a $1.3 billion valuation. Leadership attributed the layoffs to having hired too quickly, despite previously stating the new capital was a "war chest" to weather tough times. The company, which provides a cloud-based logistics platform connecting warehouses and offering fulfillment services, emphasized it remains in a strong financial position with record revenue growth. This event reflects broader economic pressures and a wave of layoffs impacting the tech and supply-chain sectors.

In June 2022, social app company IRL laid off approximately 25 employees, representing 25% of its team. The layoffs were attributed to broader market dynamics and a strategic decision to right-size the workforce after the company had rapidly expanded its headcount by 3.5 times the previous year. Despite the cuts, CEO Abraham Shafi stated that IRL had sufficient cash reserves to last well into 2024. The company, which had achieved unicorn status a year earlier following a $170 million Series C funding round led by SoftBank, framed the move as a necessary step toward building a more disciplined and impactful organization, emphasizing adaptability in a challenging economic climate.

Gather laid off 30 employees representing approximately 33% of its workforce on 2022-06-02.

Carbon Health laid off 250 employees representing approximately 8% of its workforce on 2022-06-02.

In June 2022, enterprise video messaging startup Loom laid off 34 employees, representing 14% of its workforce. The company, which had reached a $1.53 billion valuation and unicorn status a year prior, cited the need to operate more sustainably amid increased economic uncertainty. This move impacted teams across product and people operations. Like other remote-work beneficiaries during the pandemic, Loom saw rapid growth but later adjusted its strategy to ensure long-term viability. The Andreessen Horowitz-backed firm, serving millions of users globally, emphasized support for affected employees through severance and career assistance while expressing confidence in its future path.

Cannabis delivery and retail startup Eaze laid off approximately 25 employees on June 1, 2022, as part of ongoing restructuring efforts following its acquisition of Green Dragon earlier in January. The cuts, which affected engineering and live operations teams, aim to increase efficiencies within the merged company amid a maturing and competitive cannabis market. This follows previous layoffs in February and October, reflecting the company's strategic pivot from solely delivery to also operating its own dispensaries. Eaze, which operates in California, Colorado, Michigan, and Florida, continues to navigate industry pressures and executive turnover while focusing on long-term growth.

Cybereason, an Israeli cybersecurity company, is laying off approximately 100 employees, affecting staff in its headquarters in Israel as well as offices in the U.S. and Europe. This reduction impacts about 6.7% of its global workforce of 1,500. The layoffs, reported in June 2022, come as the company, backed by investors like SoftBank's Vision Fund 2, had confidentially filed for a U.S. IPO earlier that year, aiming for a valuation exceeding $5 billion. Operating in the competitive cybersecurity industry, Cybereason provides AI-driven software for threat detection and ransomware protection. The move appears to be part of broader strategic adjustments within the tech sector, possibly to streamline operations ahead of its planned public offering.

San Francisco-based real estate tech startup Side laid off approximately 10% of its workforce in early June 2022, citing over-expansion and market volatility. The company, which had been on an IPO track after raising over $250 million and reaching a $2.5 billion valuation, admitted it grew faster than it could train and support new hires. Facing economic shifts and rising mortgage rates, Side made the strategic cut to prepare for potential short-term impacts while maintaining services for its agent partners. This move followed a period of rapid growth, including expansion into 15 new states in 2021 and more than doubled revenue.

Real estate home-loan startup Tomo laid off 44 employees, representing almost a third of its roughly 150-person workforce, on Tuesday. The company, which had raised $110 million in venture capital over the past year, is halting expansion plans due to deteriorating market conditions. The layoffs are part of a broader wave in the mortgage industry, driven by soaring interest rates and a cooling housing market, which have slowed loan volumes and tightened venture capital funding.

Cerebral on 2022-05-31.

On May 31, 2022, Replicated, a company in the enterprise software industry, laid off 50 employees from its Sales, Marketing, Customer Success, and G/A teams. The CEO, Grant Miller, took responsibility for the decision, citing over-hiring in pursuit of aggressive growth as the primary reason. This restructuring aims to shift the company toward efficient growth and achieve profitability within 18-24 months, extending its financial runway to over three years. The layoffs were part of a broader adjustment to refocus on customers and product execution, ensuring long-term sustainability for its enterprise distribution tools.

Akerna on 2022-05-27.

Terminus on 2022-05-27.

Lacework, a cloud security company, laid off approximately 20% of its workforce in May 2024, affecting around 200 employees. This significant reduction was part of a broader restructuring effort aimed at streamlining operations and achieving profitability. The layoffs occurred as the company, which had grown to about 1,000 employees, faced increased market competition and pressure to optimize costs in the cybersecurity industry. This move reflects ongoing challenges in the tech sector, where many firms are adjusting their strategies to navigate economic uncertainties and focus on sustainable growth.

Coterie Insurance laid off 30 employees representing approximately 20% of its workforce on 2022-05-25.

Bolt laid off 240 employees representing approximately 27% of its workforce on 2022-05-25.

The Zebra laid off 40 employees on 2022-05-24.

ClickUp laid off 60 employees representing approximately 7% of its workforce on 2022-05-23.

On May 20, 2022, smart access and security company Latch, Inc. announced a workforce reduction affecting approximately 130 employees, which represents about 28% of its full-time staff. The company, which provides a full-building enterprise SaaS platform, stated the layoffs were necessary to better align its staffing and expenses with current sales volumes and the challenging macroeconomic environment, citing ongoing construction delays and supply chain issues. This move is part of a broader reorganization of its sales, marketing, and product departments aimed at accelerating the path to profitability and achieving self-sustaining free cash flow. Latch expects the restructuring to result in significant annual cost savings and anticipates incurring related cash charges in the second quarter of 2022.

Outside Inc., a media company that bundles 36 publishers including titles like Outside Magazine, Backpacker, and Ski, laid off approximately 15% of its workforce, affecting 85 to 90 employees out of a total of 580. The layoffs, announced on Friday, are part of a restructuring to transition into a primarily digital company, driven by a softening advertising market and an ambitious expansion during the pandemic era. As part of this shift, the company will phase out three print titles—Beta, Peloton, and Oxygen—over the next six months and reduce the print frequency of most other publications to just one or two special issues per year, with the exception of its flagship Outside Magazine.

Skillz, a mobile gaming platform, conducted layoffs in May 2022 as part of a broader wave of tech workforce reductions. The company laid off approximately 10% of its employees, which amounted to around 70 people from its total workforce of roughly 700. This move was attributed to challenging market conditions and a strategic shift to focus on profitability amid slowing growth. The layoffs reflect the wider industry trend at the time, where many tech companies, both public and private, were adjusting their strategies due to economic pressures. Skillz, operating in the competitive gaming industry, aimed to streamline operations to navigate the uncertain market environment.

Netflix is laying off approximately 150 employees, representing less than 2% of its 11,000-person workforce, with most cuts occurring in the U.S. The layoffs, confirmed in May 2022, are a direct response to the company's slowing revenue growth and its first subscriber loss in a decade, as reported the prior month. To manage costs, Netflix is implementing these reductions, which are driven by business needs rather than individual performance. The streaming giant, a major player in the technology and entertainment industry, is also exploring new strategies like ad-supported tiers and cracking down on password sharing to reignite growth. These cuts reflect a broader trend of contraction within the tech sector.

Picsart laid off 90 employees representing approximately 8% of its workforce on 2022-05-17.