Layoff Events

Fable representing approximately 100% of its workforce on 2024-10-15.

Gigamon, a network visibility and security solutions provider, has conducted a round of layoffs affecting an unspecified number of employees. The exact scale of the workforce reduction, including the total number of employees impacted or the percentage of the workforce, has not been publicly disclosed. The company, operating in the cybersecurity and networking industry, has not provided a specific reason or context for the layoffs, nor has it confirmed an official date for the action. As a private company, its overall scale and employee count are not widely reported. The layoffs were communicated internally, and the company has stated it is offering support to affected employees during the transition.

Toplyne, a startup in the technology and sales enablement industry, has ceased operations after 3.5 years, resulting in layoffs for its entire 30-person team. The company's founders announced the wind-down, citing an inability to achieve the necessary scale or product-market fit despite their efforts. Their current focus is on assisting the displaced employees in finding new roles and ensuring a smooth transition for their customers. The closure effectively represents a 100% reduction in staff, with the decision made public in a recent announcement.

Nikola laid off 130 employees representing approximately 15% of its workforce on 2024-10-11.

ByteDance's TikTok is laying off hundreds of employees, mainly in Malaysia, with less than 500 people affected, as the company shifts towards AI for content moderation to strengthen its global operating model.

Bytedance laid off 500 employees on 2024-10-11.

CareerBuilder + Monster laid off 200 employees representing approximately 15% of its workforce on 2024-10-10.

Toptal on 2024-10-10.

GoWild representing approximately 100% of its workforce on 2024-10-10.

Grabango, a venture-backed startup in the cashierless checkout technology industry, is permanently shutting down after failing to secure necessary financing. The company, which employed around 100 people, made the difficult decision to close its doors, discontinuing operations that had established it as a key competitor to Amazon's Just Walk Out system. Based in Berkeley, California, Grabango had raised over $73 million and partnered with major retailers like Aldi, Giant Eagle, 7-Eleven, and Circle K. Despite its innovative use of computer vision and machine learning for checkout-free shopping, the challenging funding environment, particularly for non-AI startups, left it unable to continue. The closure was announced in a statement to CNBC, marking the end of its operations after launching in 2016.

Bengaluru-based used two-wheeler marketplace BeepKart has laid off approximately 130 employees over the past five months, representing about 40% of its workforce, as part of a significant cost-cutting initiative. The startup, which operates in the e-commerce and automotive industry, conducted three rounds of layoffs, with the latest in late September affecting 60-70 staff. Facing a funding crunch, heightened competition, and rising operational expenses, BeepKart also halved its physical presence by closing six of its 11 stores in Bengaluru and Chennai. The company, backed by investors like Vertex Ventures and Stellaris Venture Partners, had expanded aggressively but struggled to scale profitably, leading to this restructuring to conserve cash.

In 2023, London-based rapid grocery delivery startup Zapp dramatically reduced its workforce as part of major cost-cutting efforts. The average number of employees plummeted from 2,417 in 2022 to just 260 in 2023, representing a layoff of approximately 2,157 staff, or about 89% of its workforce. This drastic reduction followed heavy losses in 2022, which led the company to withdraw from international markets like the Netherlands and France to focus solely on its core London operations. The job cuts, announced in 2022, affected head office roles as well as positions across stores and distribution centers. Despite the severe downsizing, Zapp reported a significant improvement in its 2023 financials, with pre-tax losses shrinking and revenue growing, as it shifted strategy to target affluent customers with higher-value orders.

Venture capital firm NFX laid off four employees in September 2024, including one product leader and three engineers, as part of a rebalancing effort to shift resources from its software and product teams to its investing team. The firm plans to use AI to maintain output with fewer people and intends to hire more investors, potentially increasing the overall team size.

Zapata Computing representing approximately 100% of its workforce on 2024-10-07.

PubMatic, a publicly traded adtech company, laid off approximately a dozen employees last week, representing about 1% of its workforce of nearly 950. The move is part of a strategic shift to streamline operations and concentrate resources on high-growth areas like connected-TV advertising, supply path optimization, and commerce media. Despite the layoffs, the company plans to increase its overall headcount by around 15% this year, citing over 50 open positions. This restructuring follows recent financial challenges, including a revised revenue forecast after a key demand-side platform partner changed its bidding practices.

Eaze, a cannabis delivery platform, laid off approximately 30 employees in early 2024, representing around 10% of its workforce. The company cited a strategic restructuring aimed at improving operational efficiency and adapting to a challenging market environment. This move reflects broader pressures within the cannabis industry, where companies are navigating regulatory hurdles and shifting consumer demands. Eaze, which operates at a mid-sized scale, continues to focus on its core delivery services while streamlining its operations for future growth.

Alma representing approximately 9% of its workforce on 2024-10-02.

Tome laid off 12 employees representing approximately 31% of its workforce on 2024-10-02.

Flexport representing approximately 2% of its workforce on 2024-10-02.

ABBYY laid off 200 employees on 2024-10-01.

FreshBooks laid off 140 employees on 2024-10-01.

DoubleCloud, a data infrastructure platform company, is winding down operations after failing to align its ambitious service goals and growth plans with available funding. While the exact number of layoffs and total employee count are not specified, the company's closure implies a full workforce reduction. The announcement was made in 2024, with new accounts halted from October 1, 2024, and a transition period for existing clients until March 1, 2025. Operating in the tech industry, DoubleCloud focused on open-source data solutions, offering services like Data Transfer and Data Visualization to help clients manage their data infrastructure efficiently. The company's scale is not detailed, but it served various clients until its operational wind-down.

Marin Software laid off 27 employees representing approximately 26% of its workforce on 2024-09-30.

Shein laid off 17 employees on 2024-09-30.

Agritech startup Greenikk, which was building a digital ecosystem around banana cultivation, has shut down operations. Founded in 2020 and backed by investors like 100Unicorns, the company faced insurmountable challenges including significant loan defaults through its NBFC arm, low revenues, mounting losses, and a failure to achieve product-market fit. Despite initial traction and a pivot from its loan-focused model, the startup was unable to scale beyond financial services and could not secure further investor interest to remain viable. This closure highlights the difficulties in the agritech sector, particularly for ventures aiming to serve specific agricultural value chains.

In September 2024, enterprise security compliance unicorn Drata laid off 40 employees, representing 9% of its workforce. The San Diego-based company, which automates compliance for frameworks like SOC 2 and GDPR, cited a refinement of its organizational structure to enhance operational efficiency and drive sustainable growth. This move comes despite the company reporting 100% year-on-year revenue growth and rapid customer acquisition earlier in 2024, having also expanded its headcount significantly and made its first acquisitions. Backed by over $300 million in funding and valued at $2 billion, Drata indicated this strategic adjustment is part of its course toward a potential future IPO.

Fintech startup Moov, backed by Andreessen Horowitz, has laid off approximately 50 employees. The company, which has raised $77.5 million from top-tier investors, is likely optimizing its runway amid a challenging funding environment. This move reflects broader industry pressures where later-stage startups are reducing burn rates to extend their financial sustainability, as many approach the typical two-year mark since their last funding round. The layoffs underscore the volatility in the fintech and payments sectors, where market conditions and inflationary pressures are prompting tough operational decisions.

Northvolt, a European battery startup, announced layoffs of 1,600 employees, representing about 20% of its workforce, as part of cost-cutting measures. The company cited lower-than-expected demand growth for electric vehicles and execution issues, including a canceled contract with BMW. The layoffs were accompanied by halting factory expansions in Sweden.

Epic Games announced on Tuesday, September 24, 2024, that it would cut more than 1,000 jobs as a result of declining engagement for its flagship title Fortnite and broader economic challenges. The layoffs are part of cost-cutting measures aimed at stabilizing the company, with CEO Tim Sweeney citing extreme market conditions and difficulties in delivering consistent content. This marks the second major round of layoffs for Epic Games in three years, following a previous cut of about 830 jobs in September 2023.

FreightWaves laid off 16 employees on 2024-09-24.

F5 on 2024-09-24.

Swedish battery manufacturer Northvolt announced plans on Monday to lay off approximately 1,600 employees, primarily in Sweden, as part of a major cost-cutting drive. This represents a reduction of about 20% of its global workforce and 25% of its staff in Sweden. The company, which had over 6,000 employees as of March, is refocusing its resources to accelerate core battery cell production at its Northvolt Ett gigafactory in Skellefteå, where 1,000 of the job cuts will occur. The decision follows a strategic review prompted by a challenging macroeconomic climate and leads to the suspension of a planned factory expansion. Northvolt, a key European supplier for automakers like Volkswagen and Volvo, stated the layoffs are subject to union negotiations as it aims to streamline operations in the competitive electric vehicle battery industry.

Olo representing approximately 9% of its workforce on 2024-09-23.

Notable Labs representing approximately 65% of its workforce on 2024-09-20.

In September 2024, Etsy-owned musical instrument marketplace Reverb conducted a round of layoffs, eliminating a little over 40 roles. This followed previous cuts, bringing total headcount close to its level at the time of Etsy's 2019 acquisition. The layoffs, impacting departments like product design and marketing, occurred amidst activist investor pressure on Etsy to make its "House of Brands" strategy profitable. The departure of Chief Product Officer Bradford Shellhammer shortly after fueled speculation about Reverb's future, which was realized in April 2025 when Etsy announced the divestiture of Reverb to Servco Pacific Inc and Creator Partners LLC.

Luminar representing approximately 15% of its workforce on 2024-09-20.

ApplyBoard representing approximately 4% of its workforce on 2024-09-19.

Qualcomm, a chipmaker for smartphones, announced layoffs of 226 workers in San Diego, effective the week of November 12, as part of a normal course of business to prioritize investments and align resources for diversification opportunities. This follows layoffs of over 1,250 workers less than a year earlier.

CarTrawler laid off 40 employees representing approximately 10% of its workforce on 2024-09-19.

Aakash Educational Services Limited (AESL), owned by Byju's, has laid off approximately 80 to 100 employees over the past couple of months, including senior and middle-level executives, with some long-tenured staff affected. This marks the first layoffs since Byju's acquired the company in 2021. The company cites its biannual performance review cycle and a strategic shift under "Aakash 2.0," which involves restructuring roles and new hiring, aiming to be a net hirer by year-end. Operating in the edtech and test-prep industry, Aakash continues to function independently under the Think and Learn brand following a withdrawn merger, with expectations of strong revenue growth.

IBM has initiated significant layoffs this week, reportedly affecting thousands of employees, particularly in its Cloud division, with efforts to keep the process discreet. While IBM has not disclosed exact figures, the company referenced a "workforce rebalancing" charge of $400 million in early 2024, which could translate to around 5,200 job cuts based on prior patterns. With approximately 288,000 global employees, this represents a low single-digit percentage reduction. The layoffs primarily target senior-level roles in programming, sales, and support, with many positions being relocated to India as part of cost-saving measures. This move aligns with IBM's ongoing strategy to shift jobs offshore and integrate AI, following earlier announcements of replacing thousands of roles with automation. The tech giant's actions reflect broader industry trends of restructuring amid economic pressures and technological advancements.

Spendesk laid off 151 employees on 2024-09-18.

Runtastic, the Austrian fitness app developer acquired by Adidas in 2015 for €220 million, has officially been shut down by its parent company. This follows earlier restructuring, including the elimination of 70 positions last year and the discontinuation of the "Adidas Training" app. The closure marks the end of the once-popular running app that helped popularize the startup concept locally, with its brand name recently removed from the corporate identity. The shutdown occurred in the sports technology industry, reflecting Adidas's strategic consolidation.

Amperity representing approximately 13% of its workforce on 2024-09-12.

Microsoft laid off 650 employees from its gaming division on September 12, 2024, as part of ongoing restructuring following its $69 billion acquisition of Activision Blizzard. Xbox chief Phil Spencer stated the cuts primarily affect corporate and support functions, aiming to align the business for long-term success. He clarified that no games, studios, or devices were canceled. This brings the total gaming workforce reductions since the acquisition to 2,550. The layoffs reflect broader consolidation in the video game industry, with Microsoft, a tech giant, streamlining operations to integrate the massive acquisition while supporting affected staff with severance and transition services.

Microsoft laid off 650 employees from its Xbox division.

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Nori representing approximately 100% of its workforce on 2024-09-09.

Mobileye, an Intel-owned autonomous vehicle technology company, is laying off approximately 100 employees as it shuts down its internal lidar sensor development division in September 2024. This move, affecting a small percentage of its global workforce, aims to save an estimated $60 million in projected development costs. The decision reflects a strategic shift, as the company now believes next-generation lidar is less critical to its roadmap for "eyes-off" autonomous systems, citing significant advancements in its camera-based computer vision technology and the declining cost and strategic necessity of lidar sensors in the industry.

In September 2024, Italy-based app company Bending Spoons, which acquired the Dutch file-transfer service WeTransfer in July, announced plans to lay off approximately 75% of WeTransfer's staff. With over 350 employees reported at WeTransfer, this restructuring could affect more than 260 people. The decision is part of Bending Spoons' typical post-acquisition strategy to create a "smaller, more sharply focused" organization aimed at long-term profitability and operational efficiency. The layoffs, pending compliance with local regulations across different countries, reflect the tech industry's ongoing consolidation and restructuring trends, as seen in Bending Spoons' previous cuts at Evernote.