Career Karma Layoffs
July 2022
Career Karma announced a layoff affecting 60 employees (33% of its workforce) in July 2022. The company operates in the Education sector.
60
33%
Jul 28, 2022
About
Career Karma, a learning navigation platform, laid off 60 employees earlier this week in July 2022, which reportedly affected about a third of its staff. The company, which connects students with bootcamps and training programs to enter the tech industry, now has over 120 remaining employees. The layoffs primarily impacted marketing and recruitment teams, while the C-suite was unaffected. CEO Ruben Harris cited the need to extend the company's runway amid a prolonged economic recovery in the tech sector, estimating it could last 3 to 4 years. Following a $40 million Series B round earlier in 2022, the startup aims to stretch its cash reserves, now having over three years of operating funds without requiring additional funding.
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