Layoff Events

Healthcare staffing startup Nomad Health conducted its second round of layoffs this year in October, cutting approximately 25% of its nonclinical workforce. This follows a previous reduction of 17% in February. The company, which operates a marketplace connecting nurses and clinicians with job opportunities, cited shrinking hospital budgets due to high inflation and rising costs as the primary reason. These financial pressures have reduced immediate staffing demands from healthcare organizations, leading to decreased business for staffing platforms like Nomad. The layoffs reflect broader challenges in the healthcare staffing industry, where several other startups have also downsized this year.

Convoy laid off 500 employees representing approximately 100% of its workforce on 2023-10-19.

LegalZoom laid off 100 employees on 2023-10-19.

Bullhorn laid off 140 employees representing approximately 9% of its workforce on 2023-10-19.

Calgary-based sports fan engagement software startup StellarAlgo laid off 21 employees in mid-October as part of a restructuring, a move the CEO attributed to a shift from rapid growth to a cooler financing environment where efficiency is prioritized. While the company declined to provide exact figures, the layoffs likely represent nearly a quarter of its workforce, which was referenced as being over 74 employees. The restructuring aims to help the company serve customers more efficiently and includes a reorganization into four new business units. This reflects a broader trend of tech companies adjusting their operations amid tougher market conditions and a more challenging funding landscape.

Google, the tech giant under Alphabet, laid off approximately 40 to 45 employees in its news division this week, affecting a small portion of the hundreds still working on the product. This reduction, part of broader downsizing efforts to address slowing growth and economic uncertainty, occurs at a sensitive time as online platforms face heightened pressure to combat misinformation surrounding the Israel-Hamas conflict and Russia's war in Ukraine. Despite the layoffs, Google reaffirmed its commitment to maintaining a vibrant information ecosystem and supporting affected employees with transition services.

WeTransfer, a Dutch file-sharing and creative platform, has laid off approximately 25 employees, which represents about 10% of its total workforce. The layoffs, announced in early 2024, are part of a strategic restructuring aimed at improving operational efficiency and focusing on core business areas amid a challenging economic environment for the tech industry. The company, which operates in the digital services and cloud storage sector, is considered a mid-sized player globally. This move reflects broader trends of cost optimization within the tech space as companies adapt to market pressures.

Made Renovation, a venture-backed home remodeling startup based in Walnut Creek, California, has shut down in October 2023 after failing to deliver on its promises to customers. The company, which had raised $31 million, faced widespread complaints of broken promises, severe delays, and cost overruns on bathroom renovation projects. Following these operational failures, the company informed shareholders it was closing and selling its assets. While the exact number of layoffs wasn't specified, the shutdown implies the entire workforce was let go as the business was unwound. The company operated in the proptech/renovation industry, serving as a one-stop shop for homeowners before its collapse.

ManoMano laid off 230 employees representing approximately 25% of its workforce on 2023-10-18.

In October 2023, transgender healthcare telehealth startup Plume laid off more than two dozen employees, representing approximately one-sixth of its workforce. The company, which had raised a $24 million Series B round about a year prior, confirmed the layoffs as part of a strategic shift to accelerate its fee-for-service business model, aiming to make gender-affirming care more accessible and affordable. This restructuring occurred amid a challenging funding environment for many venture-backed companies and a rising number of state-level legislative efforts to restrict trans healthcare in the U.S. Plume stated it continues to offer its services, including hormone therapy memberships and support letters, while providing severance and support to affected staff.

Belora Paris, a cosmetics brand backed by Peak XV Partners' Surge, is reportedly on the verge of shutting down operations entirely as of October 2023. The Gurugram-based company, which offered vegan and toxin-free makeup and skincare products, failed to secure follow-on funding from investors or find a buyer through acquisition talks. This financial strain has led to an imminent wind-down, evidenced by its non-functional website. Founded in 2019, Belora had aimed for significant growth but faced challenges in sustaining its business in the competitive beauty industry.

Volta Trucks representing approximately 100% of its workforce on 2023-10-18.

Waymo, the autonomous vehicle company owned by Alphabet, has conducted its third round of layoffs this year in October 2023, affecting a small, unspecified number of employees as part of an internal reorganization. The company, which operates in the robotaxi industry and had approximately 2,500 employees at the start of the year, previously cut over 200 jobs in two earlier rounds in 2023. These reductions come despite Waymo's recent expansion in San Francisco, authorized by state regulators, and occur within Alphabet's "Other Bets" division, which reported significant losses last quarter. The layoffs reflect ongoing adjustments in the competitive and capital-intensive autonomous vehicle sector.

Stack Overflow has laid off 28% of its staff, announced on Monday, as part of efforts to achieve profitability amid macroeconomic pressures. The company, which had over 500 employees last year, did not specify the exact number of laid-off employees, but more than 100 people are likely impacted. The layoffs come as the company faces traffic declines due to the popularity of generative AI and shifts in customer budgets.

Expedia Group, a major online travel company based in Seattle, laid off approximately 100 employees, primarily within its product and technology teams. This represents the second round of staff reductions at the company in recent months, as part of an ongoing workforce consolidation effort that began in 2019. The cuts reflect broader challenges in the tech sector during 2023, where many companies have adjusted staffing levels to optimize operations and align with strategic goals.

Stack Overflow, the popular coding help forum, has laid off 28 percent of its staff, affecting over 100 employees. This reduction comes just over a year after the company doubled its workforce to more than 500 people in a significant hiring push. CEO Prashanth Chandrasekar announced the cuts on October 16, 2023, citing efforts to move toward profitability, with significant reductions in go-to-market, support, and other teams. The layoffs occur amid the ongoing generative AI boom, which has introduced AI coding assistants that challenge traditional developer forums. Stack Overflow has faced issues with AI-generated answers, including a temporary ban and moderator strikes, reflecting broader industry shifts as the company navigates its position in the tech landscape.

On October 16, 2023, LinkedIn, the Microsoft-owned professional networking platform, announced it would lay off 668 employees. This follows a previous round of 716 layoffs in May 2023, bringing the total job cuts for the year to 1,384. The majority of the latest reductions, about 563 positions, are within research and development, affecting engineering, product, talent, and finance teams. The company, which reported over 950 million members and $15 billion in revenue, stated the layoffs are part of adapting its organizational structure and streamlining decision-making while continuing to invest in strategic priorities. This move aligns with a broader trend of over 242,000 layoffs in the tech sector in 2023 and reflects LinkedIn's ongoing shift, including a focus on integrating more AI-powered tools and talent into its operations.

C2FO laid off 80 employees representing approximately 3% of its workforce on 2023-10-16.

Bandcamp, an online music platform known for supporting independent artists, has recently undergone layoffs affecting a significant portion of its workforce. While the exact number of employees impacted has not been officially disclosed, reports indicate that the cuts are substantial, potentially affecting around half of the staff. This restructuring follows Bandcamp's acquisition by Songtradr, a music licensing company, from Epic Games in late 2023. The layoffs are part of Songtradr's integration efforts to streamline operations and focus on core business areas within the competitive digital music and licensing industry. As a mid-sized company in the tech and music sectors, these changes reflect broader challenges in the industry as companies adapt to evolving market demands and ownership transitions.

Kayak and OpenTable, both brands under Booking Holdings, laid off 80 employees. The layoffs were part of a broader restructuring effort within the parent company, reflecting ongoing adjustments in the online travel and restaurant reservation industry. While the exact percentage of the workforce affected and the total employee count were not specified, the move highlights the competitive and evolving nature of the travel tech sector. The announcement was made recently, as reported by Skift, indicating a strategic shift to streamline operations and focus on core business priorities amid market challenges.

CityMall, a social commerce startup based in Gurugram, laid off approximately 90 employees on October 16 as part of a cost-cutting initiative directed by its investors. This marks the company's second significant round of layoffs in 16 months, following the termination of about 191 employees in June 2022. The recent cuts affected nearly all departments, with the startup offering severance pay equivalent to one month's salary. Operating in the e-commerce industry, CityMall focuses on delivering grocery, FMCG, electronics, and fashion products to consumers in Tier III and IV cities. Despite raising a total of $112 million from investors like Norwest Venture Partners and Elevation Capital, the company has faced internal challenges, including frequent top management changes and office relocations, contributing to this restructuring effort.

PokerStars on 2023-10-15.

In October 2023, Indian edtech startup Adda247 laid off approximately 250 to 300 employees across various departments, including sales, content, and faculty. This downsizing, which also affected 100-150 staff from its acquired platform StudyIQ, was reportedly conducted abruptly to extend the company's financial runway amid a challenging funding environment for the sector. Backed by investors like WestBridge Capital and Google, Adda247 is a test-prep platform focused on government job exams and had raised over $60 million. The layoffs reflect broader pressures in the edtech industry, even as the company had seen significant revenue growth in prior years.

Supply chain software startup Flexport is laying off about 20% of its global workforce, affecting roughly 700 employees based on a reported total of around 3,500. The job cuts, announced by CEO Ryan Petersen on October 12, 2023, are part of a restructuring effort following his return as CEO last month. Petersen cited a need to reduce overspending and overhiring from the previous leadership to steer the company back toward profitability, aiming for a turnaround by the end of next year. This move adds to recent internal turmoil, including executive overhauls and cost-cutting measures, as the tech industry faces ongoing challenges.

Uno Health, a healthcare technology company, conducted a layoff in October 2023, affecting at least 16 employees as indicated in a leaked list dated October 13. The impacted roles spanned operations, engagement, recruitment, and application coordination, primarily at entry to mid-level positions, with staff located in New York City and Salt Lake City working in remote or hybrid arrangements. While the exact percentage of the workforce and total employee count are not specified in the provided data, the layoffs reflect broader challenges in the health tech sector, where companies often adjust staffing to manage costs and streamline operations amid shifting market conditions.

MariaDB laid off 84 employees representing approximately 28% of its workforce on 2023-10-12.

Lending Club laid off 172 employees representing approximately 14% of its workforce on 2023-10-12.

Qualcomm, a major semiconductor manufacturer, is laying off approximately 1,258 employees in California, affecting its offices in San Diego and Santa Clara. These cuts, representing about 2.5% of its roughly 51,000-person workforce, are set to take effect around mid-December 2023. The company cites macroeconomic uncertainty and a challenging demand environment as reasons, framing the layoffs as part of broader restructuring efforts to focus on key growth areas. No facility closures are planned at the impacted locations.

Acronis, a global cybersecurity and data protection company, announced a restructuring on October 11, 2023, resulting in layoffs. While the exact number of employees affected was not disclosed, the move is part of a strategic shift to accelerate partner growth. The company stated it is changing focus to prioritize projects that directly benefit its service provider partners, such as enhancing product capabilities, reliability, technical education, and sales support. This organizational change, within the competitive cloud and cybersecurity industry, aims to streamline operations and increase investment in product innovation, data centers, and partner tools, though it comes at the cost of reducing its workforce.

Deepgram laid off 20 employees representing approximately 20% of its workforce on 2023-10-11.

On October 10, 2023, Brazilian digital bank Neon conducted a significant layoff, dismissing between 180 and 200 employees, primarily affecting the technology, product, and design departments. The company stated this strategic move was necessary to maintain business sustainability, adjust priorities, and align with a growth cycle focused on operational efficiency. This layoff reflects a broader trend among fintechs and tech companies in Brazil, which had expanded rapidly during the pandemic but are now adjusting to reduced demand and higher interest rates impacting growth-focused firms. Neon offered affected employees extended health benefits, psychological support, and career transition assistance through the end of the year.

In October 2023, fintech startup Braid, a San Francisco-based consumer payments company, announced it had shut down in September. The company, which had raised $10 million from investors like Index Ventures and Accel, aimed to popularize shared wallets for group savings and spending. Founder Amanda Peyton cited the business model's lack of viability as the primary reason, compounded by a critical loss of its sponsor bank in mid-2022 that left the company inoperable for months. While the exact number of employees laid off wasn't specified, the closure resulted in the entire team being let go as the four-year-old venture wound down operations.

Stitch Fix, an online personal styling service, is laying off 558 employees at its Dallas distribution center as part of a broader restructuring plan announced in June. The layoffs, which will occur between December 2023 and April 2024, result from the closure of this facility and another in Bethlehem, Pennsylvania, reducing the company's distribution network from five to three locations. This consolidation is expected to save $10-15 million annually. While most affected are warehouse associates, Stitch Fix may rehire some employees at its remaining centers in Atlanta, Phoenix, and Indianapolis. The company is also exiting the U.K. market, reflecting its shift toward optimizing operations and focusing on core markets.

Blue Origin laid off 40 employees on 2023-10-09.

Carbon Health laid off 114 employees representing approximately 5% of its workforce on 2023-10-09.

In October 2023, Product Hunt, a popular platform for discovering new tech products and startup projects, conducted a significant round of layoffs impacting approximately 60% of its staff. The cuts, announced by CEO Rajiv Ayyangar on October 10, affected multiple functions including design, product, and sales, as the company sought to streamline operations for greater speed and focus. While the exact number of employees laid off wasn't specified, the drastic percentage indicates a major restructuring for the small to mid-sized tech company, which retained its engineering, ads, and community teams. The layoffs reflect broader challenges in the tech industry as companies adjust to economic pressures and prioritize core functions.

In late September, Florida-based vacation rental property management company VTrips laid off approximately 75 employees, representing over 9% of its full-time workforce. Founder and CEO Steve Milo described the cuts as "seasonal layoffs" and "planned synergies," citing a strategic shift following rapid expansion through acquisitions in 2021 and 2022. The company, like others in the U.S. property management industry, faced a downturn in 2023, with average daily rates and occupied nights falling about 10% below budget. This move reflects broader challenges within the sector as companies adjust to post-pandemic market realities.

InvestCloud laid off 80 employees representing approximately 5% of its workforce on 2023-10-06.

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Juniper Networks laid off 440 employees representing approximately 4% of its workforce on 2023-10-06.

Dash, a fintech startup in Africa's digital wallets industry, laid off most of its staff in early October 2023 as the company began winding down operations. The layoffs affected over 70 employees, representing nearly the entire workforce, following months of internal uncertainty. This drastic move came after Dash raised over $80 million in venture capital but ultimately failed to sustain its business model, leading to its unraveling and leaving stakeholders bewildered by the rapid decline.

In October 2023, Brave Software, the company behind the privacy-focused Brave Browser and Search, laid off 9% of its workforce across several departments. While the exact number of affected employees was not disclosed, the cuts were attributed to cost management measures in response to a challenging economic climate. The layoffs occurred as Brave was actively working to diversify its revenue streams, including transitioning its search engine to its own indexing solution, launching a paid Search API, and developing a native AI assistant called Leo for its browser.

Shift representing approximately 100% of its workforce on 2023-10-06.

Ledger representing approximately 12% of its workforce on 2023-10-05.

Enovix laid off 185 employees on 2023-10-05.

In October 2023, cash-strapped electric vehicle maker Arrival announced another round of layoffs, cutting approximately 25% of its remaining workforce as part of ongoing cost-reduction efforts. This followed a major restructuring in January 2023 that had already reduced staff by 50% to around 800 employees. The company, which went public via a SPAC merger in 2021, has restructured multiple times and pivoted its focus to the U.S. market to leverage Inflation Reduction Act subsidies. Despite developing electric vans, buses, and ride-hailing vehicles, Arrival has yet to launch a commercial product and faces uncertainty, having not provided a quarterly update since May 2023.

SeekOut laid off 16 employees representing approximately 7% of its workforce on 2023-10-05.

Edtech startup SchoolMint conducted its second round of layoffs this year last week, cutting 29 full-time employees, which represents 14.5% of its staff. This follows a similar reduction in March, and the company cited a "rapidly-changing market" as the reason. Before these cuts, SchoolMint had over 250 employees. The layoffs occurred across all departments and reflect broader uncertainty in the edtech sector, which has seen a significant slowdown in venture funding after a pandemic boom. Founded in 2013 and later acquired by private equity firm BV Investment Partners, SchoolMint provides enrollment management solutions for public and charter schools.

Just one day after raising $50 million in a Series E funding round, B2B vendor management platform Bizongo has laid off approximately 50 employees. This represents over 10% of its workforce, which totals around 413 people. The layoffs are part of a strategic shift as the company sharpens its focus on key business goals and profitability, particularly by expanding into the raw material sector and streamlining metal procurement. Despite the recent funding success, which valued Bizongo at $980 million, the startup has made these difficult cuts to reallocate resources and drive efficiency in its operations.

Meta on 2023-10-04.