Layoffs in United States

Zulily on 2022-05-16.

Thirty Madison laid off 24 employees on 2022-05-14.

CommonBond, a financial technology company, laid off 22 employees as part of a strategic shift to focus exclusively on solar financing, ceasing its student loan origination business. The layoffs, announced in a LinkedIn post by CEO David Klein, were a direct result of this business model pivot. While the exact total workforce and percentage affected were not disclosed, the move underscores the company's redirection towards the renewable energy sector, where its solar business had become its largest and fastest-growing segment. The transition was effective as of the announcement, with student loan operations winding down by June 15.

Subspace, a technology startup focused on improving internet connectivity for data-rich applications, announced the shutdown of its global network and business operations on May 13, 2022. The closure effectively resulted in layoffs for its entire team, as the company ceased all activities. Founded in 2018 and launching service in March 2020, Subspace aimed to support low-latency needs for emerging sectors like web 3.0 and the Metaverse. However, shifting market conditions and financial constraints made it impossible to scale and meet customer demands, forcing the company to wind down.

Tripwire on 2022-05-12.

Zwift, a leading virtual cycling and running platform, announced significant layoffs on May 12, 2022, affecting approximately 150 employees. This workforce reduction, impacting various divisions, was part of a broader restructuring to "right-size the business." The company simultaneously canceled its plans to launch a smart bike and trainer hardware, citing the challenging macroeconomic environment and the normalization of indoor cycling sales. This strategic shift away from hardware development, which Zwift described as a "pause," led to the downsizing, particularly within the hardware division. The move aligns with similar cost-cutting measures recently taken by competitors like Wahoo and Peloton in the connected fitness industry.

In May 2022, Scott Galloway's edtech startup Section4 laid off 32 employees, representing a quarter of its staff. The company, which had 142 employees at the time, conducted the layoffs across all teams, with a significant impact on the product department. The restructuring was driven by financial mismanagement, a lack of product-market fit, and over-hiring, as the company struggled with consumer growth. Section4, which offers affordable, virtual business school-style courses, shifted its focus toward enterprise clients, citing the high production costs of its core offerings. The layoffs were part of a broader post-pandemic reset in the tech industry.

DataRobot laid off 70 employees representing approximately 7% of its workforce on 2022-05-11.

Latch, a smart access technology company, laid off employees in May 2022 as part of a broader wave of tech industry cutbacks. While the exact number of affected employees at Latch was not specified in this report, the layoffs occurred during a period of widespread workforce reductions across startups and tech firms, driven by economic recalibration and strategic shifts. The company, operating in the proptech industry, was adjusting to market pressures that prompted many businesses to streamline operations. This move reflects the challenging environment for tech companies at the time, as they navigated funding changes and evolving business priorities to ensure sustainability.

On May 10, 2022, the U.S. used-car retailer Carvana announced it would lay off 2,500 employees, a significant workforce reduction as the company grapples with severe overcapacity and mounting financial losses. The layoffs, part of a plan to realign staffing and expenses with declining sales volumes, come after Carvana reported a net loss of $506 million in the first quarter of 2022, despite a 56% revenue increase. The company had expanded its operations anticipating higher demand, but faced with a sharp downturn, it is now cutting roughly 12% of its workforce. Carvana's executive team is forgoing salaries for the remainder of the year to help fund severance packages, which include four weeks of pay plus additional compensation based on tenure.

Doma, a title insurance and technology company, laid off 310 employees, representing 15% of its workforce, in May 2022. This reduction, primarily affecting fulfillment roles, was a direct response to a severe downturn in the mortgage market, particularly a 63% industry-wide drop in refinance transactions. Despite gaining market share, Doma reported a significant net loss of $50 million in Q1 2022, with revenue declining 12% year-over-year. The company is now refocusing resources on purchase transactions and its technology platform to achieve profitability by 2023 amid ongoing market challenges.

Vroom laid off 270 employees representing approximately 14% of its workforce on 2022-05-09.

divvyDOSE laid off 62 employees on 2022-05-06.

Reef Technology, a Miami-based tech company specializing in ghost kitchens and parking management, is laying off 750 employees, which represents 5% of its global workforce. This decision, announced in a letter from CEO Ari Ojalvo, is part of a strategic shift to focus on profitability amid economic challenges, including rising inflation and disruptions in its sectors. The company will concentrate on its core businesses—ghost kitchens and parking—while scaling back other ventures like health clinics and vertical farms. Founded in 2013 and backed by significant investments, including from SoftBank, Reef has faced operational hurdles but continues to pursue growth with a renewed emphasis on brick-and-mortar locations.

On Deck, a tech company that connects founders with capital and advice, laid off 72 employees, representing 25% of its staff, on May 5, 2022. The cuts primarily affected operations and investing roles, with severance packages including eight weeks of salary and 12 weeks of healthcare. Co-founders confirmed the layoffs, citing a need to support departing team members and refocus the business. The company, which launched in 2019 and had raised a $20 million Series A in 2021, faced financial pressures from missed sales targets, aggressive hiring, and a reduced fundraise—originally targeting $100-$150 million but landing around $40 million. As a result, On Deck is scaling back its ODX accelerator program and aims to extend its runway, which was down to nine months prior to the cuts.

Progrexion, a Salt Lake City-based credit report repair company owned by private equity firm H.I.G. Capital, laid off over 100 employees in May 2023. The cuts affected multiple departments, though the exact percentage of the workforce impacted remains unclear. Operating in the financial services and technology sector, Progrexion, which owns brands like Credit.com and CreditRepair.com, conducted these layoffs amidst a broader trend of workforce reductions across U.S. tech and financial companies. This move reflects the challenging market environment many firms faced in early 2023, following a period of rapid hiring and growth in previous years.

Ideoclick laid off 40 employees on 2022-05-04.

B2B financial services startup MainStreet laid off approximately 50 employees, representing about one-third of its roughly 150-person workforce. The cuts, announced in early May 2022, were driven by difficult market conditions and a strategic push toward profitability. CEO Doug Ludlow cited an "incredibly rough market" that could worsen, prompting the restructuring to ensure the company's self-sustainability. MainStreet, which grew rapidly after a $60 million Series A funding round in 2021, faced challenges as revenue growth failed to match its increased spending and headcount, exacerbated by market turbulence following Russia's invasion of Ukraine.

Cameo laid off 87 employees representing approximately 25% of its workforce on 2022-05-04.

Vise laid off 25 employees on 2022-05-04.

In May 2022, Amazon aggregator Thrasio, a startup valued between $5 billion and $10 billion, initiated layoffs affecting a portion of its workforce. The company, which acquires and consolidates third-party Amazon sellers, simultaneously announced a leadership change, appointing former Airbnb president and Amazon executive Greg Greeley as its new CEO. These moves come after a turbulent period for Thrasio, including executive departures and delays in its planned SPAC listing, reflecting broader challenges within the aggregator business model. The layoffs underscore the company's strategic adjustments amid shifting market conditions.

Noom, the weight loss and wellness app, is laying off a significant portion of its coaching staff as part of a strategic shift. The company is letting go of approximately 495 coaches in total, with 180 already departed and 315 more expected soon. This restructuring is due to a move from text-based chat support to a scheduled video call system, which reduces the need for a large, on-demand workforce. The layoffs come after a period of rapid growth and substantial venture funding during the pandemic. Remaining employees are expected to handle increased workloads. The company, which operates in the health tech industry, has faced criticism regarding its dietary recommendations and advertising practices even as it expanded into mental health coaching.

Netflix, the global streaming giant, laid off 25 full-time staffers and contractors from its global marketing team, which comprises over 500 employees, representing a cut of about 5%. This move occurred on Thursday, April 28, 2022, as part of a larger reorganization within the marketing department, aimed at cutting costs and simplifying structure. The layoffs specifically impacted Tudum, Netflix's fan website and marketing arm launched just months prior in December 2021. The restructuring also included executive promotions and departures. While planned before Netflix's recent subscriber loss, these changes reflect the company's ongoing adjustments in the competitive streaming industry.

In April 2022, Wahoo Fitness, a fitness technology company, laid off approximately 50 employees as part of strategic changes to support its growth and development. The layoffs occurred across various departments, including device, firmware, and the Wahoo SYSTM platform. This decision coincided with the company's acquisition of the virtual cycling platform RGT Cycling and the launch of its new integrated subscription service, Wahoo X. The move was described as necessary to maintain focus on innovation and evolving athlete needs, following a period of increased hiring during the COVID-19 pandemic's surge in demand for home fitness equipment.

Robinhood, the retail brokerage firm, announced on Tuesday that it is laying off approximately 9% of its full-time workforce, affecting about 342 employees out of the 3,800 reported at the end of December. CEO Vlad Tenev cited "duplicate roles and job functions" following rapid expansion last year as the reason, stating the move aims to improve efficiency and responsiveness amid changing customer needs. The company, which rose to prominence during the 2021 GameStop frenzy, has seen its stock struggle and user numbers decline, with shares falling over 5% after the announcement. This restructuring reflects broader challenges in the fintech industry as Robinhood prepares to release its first-quarter results.

Clyde laid off 22 employees on 2022-04-25.

Lemonade laid off 52 employees on 2022-04-20.

Blend Labs, a publicly traded mortgage technology company, laid off approximately 200 employees, representing 10% of its workforce, as announced in an SEC filing. This fintech firm, which provides white-label software for major lenders, is implementing the cuts to reduce costs amid severe industry headwinds. With mortgage origination volumes expected to drop 35% in 2022 due to rising interest rates and inflation, Blend is aiming for about $35.4 million in annual savings. The layoffs, set to be completed in the second quarter, follow a significant net loss in 2021 and reflect broader challenges in the mortgage sector as refinancing activity declines.

Automox, a cybersecurity company specializing in automated endpoint management, announced a workforce reduction affecting approximately 11% of its employees. While the exact number of layoffs wasn't specified, the decision was made to evolve the business and sustain its growth more efficiently. The company expressed gratitude for the contributions of the departing staff and emphasized its ongoing commitment to customers and its platform. This restructuring reflects broader adjustments within the competitive IT and cybersecurity industry as companies optimize operations.

Halcyon Health representing approximately 100% of its workforce on 2022-04-15.

Humble, the game sales bundling and publishing platform, laid off an unspecified number of employees in April 2022 as part of a company restructuring. The job cuts specifically impacted staff in the engineering and customer service departments. The company stated the move was intended to streamline its e-commerce operations and re-invest in key growth areas to strengthen the future of the Humble Bundle business. This restructuring reflects ongoing adjustments within the digital game retail and publishing industry.

Ahead laid off 44 employees representing approximately 100% of its workforce on 2022-04-14.

Truepill on 2022-04-14.

Rad Power Bikes laid off 100 employees representing approximately 14% of its workforce on 2022-04-12.

Food52, a tech-focused food media and e-commerce company, laid off 10% of its staff in early April 2022 as part of a strategic pivot to strengthen its e-commerce operations. This restructuring followed an $80 million investment from the Chernin Group. While the exact number of affected employees wasn't specified, the move came despite the company reporting doubled revenue and achieving profitability in 2020. The layoffs, which left staff feeling "gut-punched," are part of a broader shift that includes recent acquisitions like Schoolhouse and Dansk, and plans to expand into physical retail with pop-up shops and brick-and-mortar stores.

Workrise laid off 450 employees on 2022-04-05.

Fast representing approximately 100% of its workforce on 2022-04-05.

Gopuff laid off 450 employees representing approximately 3% of its workforce on 2022-03-29.

Grove Collaborative, a sustainable personal care and home goods company, laid off approximately 17% of its corporate workforce in late March 2022. This restructuring occurred as the company prepared for its upcoming public listing via a SPAC merger, which valued it at $1.5 billion. While Grove reported a revenue increase to $383.7 million for 2021, the figure slightly missed its target. The layoffs appear to be a strategic move to streamline operations and optimize resources ahead of its transition to becoming a publicly traded entity on the New York Stock Exchange.

Curology laid off 150 employees on 2022-03-16.

Talis Biomedical, a biotechnology company focused on diagnostic testing, conducted a significant workforce reduction in March 2022. The layoffs affected approximately 30% of its employees, which was reported to be around 60 people out of a total workforce of roughly 200. This decision was part of a strategic restructuring aimed at preserving capital and extending the company's financial runway, as it faced challenges in the competitive diagnostic market and sought to prioritize key development programs. The move reflects broader pressures in the biotech industry, particularly for smaller-scale firms navigating post-pandemic shifts.

Knock laid off 115 employees representing approximately 46% of its workforce on 2022-03-15.

Sezzle representing approximately 20% of its workforce on 2022-03-10.

Adaptive Biotechnologies laid off 100 employees representing approximately 12% of its workforce on 2022-03-08.

Hyperscience laid off 100 employees representing approximately 25% of its workforce on 2022-03-03.

Wish laid off 190 employees representing approximately 15% of its workforce on 2022-03-01.

Utah-based fitness company iFIT has conducted another round of layoffs as it navigates financial challenges, including settling a significant lawsuit and seeking additional capital. The company, which produces connected fitness equipment and content, has placed its once-anticipated initial public offering on indefinite hold. These layoffs follow a previous round just weeks before Christmas, despite earlier claims of strong performance. The exact number of employees affected in this latest reduction was not specified, but the cuts reflect ongoing restructuring efforts within the competitive home fitness industry.

Virgin Hyperloop laid off 111 employees representing approximately 50% of its workforce on 2022-02-21.

In February 2022, Utah-based real estate technology startup Homie conducted companywide layoffs, reducing its workforce by 28%, which impacted 119 employees across its operations in several western states. The cuts were a response to a roiled real estate market characterized by record low housing inventories and intense competition, making 2021 and early 2022 exceptionally challenging for buyers and sellers. CEO Johnny Hanna described the decision as extremely difficult, citing unprecedented market conditions that forced the company to make critical operational changes to navigate the downturn.

Daily Harvest laid off 60 employees representing approximately 20% of its workforce on 2022-02-10.