Layoff Events

Qualtrics laid off 780 employees representing approximately 14% of its workforce on 2023-10-04.

Hopper, an online travel and fintech company, laid off approximately 250 employees, representing 30% of its full-time workforce, in a move to achieve profitability. The company, which had raised $730 million, faced unsustainable burn and growth rates. The cuts align with efforts to enhance its travel app and B2B operations, while also focusing on building direct global hotel supply. This shift became more urgent after Expedia Group removed its hotel inventory from Hopper in July. The layoffs reflect broader challenges in the travel industry as companies adjust to market pressures.

Block, the US-based financial technology company and parent of Afterpay, has initiated layoffs affecting an unspecified number of employees. The company, which operates in the fintech and payments industry, is implementing these cuts as it contends with internal performance targets and a declining share price. The move, reported in early October 2023, reflects broader challenges within the tech and fintech sectors as companies adjust to economic pressures and shifting market conditions. While exact figures on the total workforce and percentage impacted are not detailed, the restructuring underscores Block's efforts to streamline operations and improve financial stability amid a turbulent period for the company.

Bird, the shared micromobility company, conducted a round of layoffs in early October 2023, following its recent acquisition of e-scooter operator Spin. While the exact number of affected employees was not disclosed, the cuts were aimed at reducing redundancies and creating a more efficient integrated team after the merger. This move comes as Bird, which was delisted from the New York Stock Exchange the prior week, has struggled with profitability since going public in 2021. The company faced challenges from a high-cost, low-return business model and a previous growth-at-all-costs strategy, leading to significant cash burn and loss of investor confidence.

Twitch, the live-streaming platform owned by Amazon, has conducted a second round of layoffs this year, affecting an unspecified number of employees within its customer experience organization. This follows a larger reduction in March that saw over 400 staff let go as part of Amazon's broader plan to cut 9,000 jobs. The latest cuts are significantly smaller and are attributed to a strategic shift toward outsourcing customer experience roles. The move reflects ongoing efforts to streamline costs amid economic uncertainty, as highlighted by Amazon CEO Andy Jassy. Twitch operates in the digital media and streaming industry and is a major player in the gaming and content creation space.

Based on the provided content, there is no information about a layoff event at a company named Dare. The text appears to be a standard user registration or login interface for LinkedIn, containing fields for email, password, and terms of service agreements. It does not mention any company news, employee counts, financial details, or industry context related to layoffs. Therefore, a summary of a layoff event cannot be generated from this material.

Sendoso, a SoftBank-backed gifting startup, has conducted its fourth round of layoffs in the past 16 months, affecting an undisclosed number of employees across departments like engineering, HR, accounting, and customer success. This follows a previous round in June 2022, where about 100 employees, or 14% of its then 700-person workforce, were cut. The company, which offers a platform for sending corporate gifts, is restructuring amid a challenging funding environment and broader economic uncertainty. Many startups, including Sendoso, are reducing headcount as venture capital investment has significantly declined, forcing cost-cutting measures to sustain operations.

Chia Network, a blockchain and cryptocurrency company, laid off 26 employees on October 2, 2023, representing over a third of its 70-person workforce. This significant staff reduction stems from a delayed initial public offering (IPO) process, primarily caused by the loss of its banking partner, Credit Suisse. While the company has secured a new bank, the extended timeline and uncertain regulatory review by the U.S. Securities and Exchange Commission (SEC) have created financial strain. To extend its operational runway, Chia is considering its first-ever sales of a limited portion of its XCH token holdings, a move it had previously avoided due to regulatory concerns. The layoffs, focused on ecosystem support roles, reflect the broader challenges crypto firms face in a difficult funding environment as they navigate compliance and market pressures.

Chainalysis laid off 150 employees representing approximately 15% of its workforce on 2023-10-02.

Sono Motors, a German electric vehicle and solar technology startup, has implemented a workforce reduction as part of significant business restructuring. The layoffs are connected to ongoing final negotiations with potential investors and a strategic shift to ensure the company's long-term stability. This restructuring aligns with a streamlined business model that will initially focus on its Solar Bus Kit product. While the exact number of employees affected and the total workforce size were not specified in the announcement, the move includes changes to management and reflects a difficult decision made to adapt the corporate structure for future operations. The automotive and clean tech industry company is undergoing this transformation to secure its financial future and refine its market focus.

IronNet, a cybersecurity startup founded by former NSA director Keith Alexander, has ceased operations and laid off its remaining staff as it files for Chapter 7 bankruptcy. The company, which had raised over $400 million and once served fewer than 100 corporate customers, had already cut 17% of its workforce in June 2023. Following its public listing in 2021, IronNet struggled to maintain traction, leading to its eventual shutdown in October 2023. The Virginia-based firm, which provided threat intelligence and infrastructure protection solutions, will liquidate assets to pay debts, with no returns expected for stockholders.

In October 2023, the fintech and banking-as-a-service startup Synapse laid off 86 employees, which constituted approximately 40% of its workforce. This significant reduction followed a previous round of layoffs in June 2023, when the company cut 18% of staff, citing challenging macroeconomic conditions that impacted client growth. The latest cuts were reported amid industry speculation, including claims that a major client, Mercury, was planning to leave its platform. Founded in 2014 and backed by Andreessen Horowitz, the San Francisco-based company had raised over $50 million in venture capital and provided infrastructure for banks and fintechs to build financial services.

German neobank N26 is implementing further cost-cutting measures, including laying off approximately 14 employees from its recruiting and workplace management teams. This follows a previous round of layoffs earlier in the year affecting about 70 staff, or 4% of its workforce. With a current total of around 1,700 employees, these reductions reflect a decreased hiring need and a shift toward more remote work. The company, which recently moved into a large new headquarters in Berlin, is also seeking to sublet part of its office space due to lower physical attendance. N26 aims to achieve profitability in the coming year while continuing to fill select strategic positions.

Andgo Systems, a Saskatoon-based software startup, has conducted layoffs as part of a broader trend affecting Canadian tech companies. The layoffs occurred after the company failed to meet its growth targets amid deteriorating economic conditions, including rising interest rates and inflation. While the exact number of employees laid off and the total workforce size at Andgo were not disclosed, the cuts reflect a strategic shift toward preserving cash and pursuing profitability, as venture capital becomes scarcer and investor priorities change. This move places Andgo alongside other Saskatchewan startups like Vendasta and 7shifts, all adjusting to a challenging market environment that has led to widespread staff reductions across the tech industry in 2023.

Cowbell laid off 28 employees representing approximately 12% of its workforce on 2023-09-29.

Epic Games, the creator of Fortnite, announced layoffs on September 28, 2023, cutting 16% of its workforce, which affects approximately 870 employees. The company, operating in the video game and technology industry, made this decision after acknowledging it had been spending significantly more than it earns while investing heavily in expanding Fortnite into a metaverse ecosystem. CEO Tim Sweeney stated that despite prior cost-cutting measures like a hiring freeze and reduced marketing, the financial situation remained unsustainable, necessitating these layoffs to stabilize the company. Concurrently, Epic is divesting Bandcamp and spinning off most of SuperAwesome to streamline operations. The layoffs primarily impact teams outside core development, with the company aiming to maintain focus on key projects like future Fortnite seasons while striving for long-term profitability and leadership in the metaverse space.

On September 28, 2023, online education company 2U announced a round of layoffs as part of significant organizational changes. While the exact number of employees affected was not disclosed, the cuts were implemented to better align the company's operations with its strategic shift toward becoming a unified platform business centered on edX. This restructuring aims to focus resources on areas with the greatest impact for learners and partners, ensuring long-term sustainability. The company, which operates in the edtech industry, emphasized its commitment to supporting departing employees with severance, benefits, and job transition assistance.

Lululemon laid off 120 employees from its Lululemon Studio team, which operated the Mirror fitness device, as part of a strategic shift announced in late September 2023. This move follows the company's decision to discontinue selling the Mirror hardware, acquired for $500 million in 2020, after struggling to grow sales and taking a significant impairment charge. The layoffs, representing a portion of the team dedicated to this segment, coincide with a new five-year partnership with Peloton, making Peloton the exclusive digital fitness content provider for Lululemon. This restructuring reflects Lululemon's pivot away from hardware toward digital content and partnerships in the retail and fitness industry, with the company's leadership for Lululemon Studio also set to depart in early 2024.

Fit Analytics representing approximately 100% of its workforce on 2023-09-28.

Snap, the parent company of Snapchat, laid off approximately 170 employees as part of winding down its AR Enterprise business. This decision, announced by CEO Evan Spiegel on September 27, 2023, was driven by the need for significant incremental investment to compete, the rise of generative AI making it harder to differentiate, and a strategic refocus on the core advertising business. While the exact percentage of total employees affected isn't specified here, the cuts are confined to this specific division. The company will continue supporting its broader AR platform and Sponsored AR advertising. This move reflects the challenges in the competitive tech and social media industry as companies streamline operations.

Flexe laid off 131 employees representing approximately 33% of its workforce on 2023-09-26.

Talkdesk, a San Francisco-based AI customer service software company once valued at $10 billion, has conducted its third round of layoffs in less than 14 months. The latest cuts, confirmed in late September 2023, affected at least 140 employees, many based in Portugal, though the company declined to provide an official number. Following previous layoffs in August 2022 and February 2023, when Talkdesk had around 2,100 staff, the total current workforce is unclear. These reductions are part of a cost-cutting effort due to lower revenue projections. Despite the layoffs, CEO Tiago Paiva stated the company remains strong and will continue investing in strategic areas like AI and U.S.-based R&D, emphasizing that innovation will not be impacted.

Byju's plans to cut as many as 5,000 jobs in the coming weeks as part of a business restructuring to simplify operations, reduce costs, and improve cash flow management, amid pressures from a delayed IPO and disputes with lenders.

Indian quick-commerce startup Dunzo has laid off approximately 150-200 employees, representing about 30-40% of its workforce, as announced by co-founder Mukund Jha in a meeting on Friday. This marks the third round of layoffs this year, following earlier cuts that affected nearly 400 employees. The company is implementing these measures to reduce operational costs, including plans to move to a smaller office. Affected employees face delayed salary payments for June and July, with options to resign for settlements early next year. Despite the cuts, Dunzo is reportedly in advanced talks to secure $25-30 million in funding from key investors like Reliance Retail and Google.

Lucid Software, a provider of visual collaboration software, has laid off approximately 75 employees, representing about 7% of its workforce. The decision, announced via an internal email, is part of a restructuring effort aimed at ensuring the company's long-term success. Leadership cited the need to focus on profitable growth and rebalance investments in a dynamic market, shifting resources toward emerging opportunities while reducing costs in other areas. The layoffs, which occurred across various teams, are accompanied by measures to streamline operations and reduce non-headcount expenses. Affected employees received severance and support.

Eat Just, a privately held company specializing in cultivated chicken and plant-based egg products, has laid off approximately 40 employees. This reduction comes less than a month after the company secured $16 million in funding. The layoffs were implemented to accelerate the path to profitability, specifically aiming for the Just Egg product line to cover operating expenses sooner. While the exact percentage of the workforce affected is not specified, the cuts reflect ongoing financial challenges as neither side of Eat Just's business is currently profitable. The company operates in the alternative protein industry, focusing on sustainable food technology.

Appsmith, a US and India-based open-source low-code software startup, laid off 35 employees earlier this week, representing about 25% of its workforce. The company attributed the decision to challenging market conditions, a slowdown in business, and a strategic shift toward sustainable growth over rapid expansion. In an internal communication, CEO Abhishek Nayak cited a dip in growth rates and the need for operational efficiency, aiming to build a leaner team focused on revenue and R&D investment. Impacted employees are receiving a two-month severance package, outplacement support, and their office laptops. Appsmith, which raised $41 million in a Series B round led by Insight Partners last July, operates in the enterprise tech industry, providing tools for developers to build custom applications quickly.

Foodpanda, the Singapore-headquartered food delivery service owned by Delivery Hero, has confirmed its latest round of layoffs as part of a broader effort to become "leaner, more efficient, and more agile." This marks the third round of job cuts since February and September of last year, following similar reductions by competitors like Grab and Deliveroo amid ongoing macroeconomic challenges. While the exact number of affected employees and departments was not disclosed, the layoffs coincide with Delivery Hero's preliminary discussions to sell its Foodpanda operations in selected Southeast Asian markets, including Singapore, Cambodia, Malaysia, Myanmar, the Philippines, Thailand, and Laos. The company is streamlining its regional and country team structures to enhance operational focus and consistency.

Roblox, the popular gaming platform, laid off approximately 30 employees from its talent acquisition team in September 2023 as part of a strategic shift to align hiring with reduced growth targets. The company, which had seen rapid expansion in prior years, decided to scale back its recruitment efforts to better control costs and ensure cash compensation growth matched its bookings growth. This move reflects a broader industry trend of tech companies adjusting their workforce strategies in response to changing economic conditions, focusing on efficiency over aggressive expansion.

Recast, a UK-based sports and entertainment content monetization startup, has entered administration after a major investor failed to fulfill a funding commitment, causing severe cashflow issues. The entire team, reportedly around 50 employees, has been laid off as no solvent outcome or sale was possible. This sudden collapse, occurring in late 2023, highlights the precarious position of startups reliant on investor funding, despite the company's reported recent traction in offering an alternative monetization model for the digital media industry.

DealShare laid off 130 employees on 2023-09-21.

Robinhood, the online brokerage and fintech company, is conducting further layoffs and reorganizing internal teams as part of a strategic pivot toward credit card products, a move driven by efforts to counter a shrinking user base. Following its $95 million acquisition of credit card startup X1 in June, the company is integrating X1 into its Robinhood Money division. While a spokesperson confirmed only a "very small number" of layoffs among the 60 employees who joined from X1, the company has been reducing headcount more broadly, including a cut of 150 full-time employees in June. These ongoing reductions, alongside the reorganization, come as Robinhood's monthly active users fell by 400,000 to 10.6 million between July and August 2023, prompting internal concern and a renewed focus on higher-margin credit offerings to stabilize its business.

Merative, a US-based healthcare technology firm, is cutting approximately 100 jobs in Ireland, which represents about 25% of its 400-strong Irish workforce. The layoffs, announced in September 2023, are part of cost reduction efforts as the company shifts operations, notably expanding its teams in India. Most of the impacted roles are in the technology division, with additional cuts in sales, design, products, and communications. Merative, formed from IBM's Watson Health and owned by Francisco Partners, specializes in data and analytics for the health industry, serving governments and healthcare providers. The move follows a consultation period, with final decisions expected by mid-October, affecting some long-term employees.

Y Combinator-backed neo-banking startup Akudo is winding down its core operations, effectively shutting down in September 2023. The company, which provided digital banking and debit cards for teenagers, was forced to discontinue its primary UPI services due to a new Reserve Bank of India directive prohibiting UPI in co-branding arrangements. With over 70% of its business reliant on UPI, this regulatory shift was a critical blow. Compounded by unsuccessful fundraising efforts and dwindling capital, the company ceased onboarding new users and is closing its operations entirely. The fintech startup had raised $4.2 million in a 2021 funding round.

Outreach representing approximately 12% of its workforce on 2023-09-20.

Nowadays, a plant-based food startup, has shut down after three years of operation, resulting in the layoff of its entire team. The company, which had developed novel extrusion technology and launched products in retail with Whole Foods Market, cited the challenging market conditions as a key factor in its closure. This decision reflects broader struggles within the alternative protein industry, where even innovative ventures face difficulties sustaining operations. The shutdown occurred recently, as announced by founder Max Elder, who expressed gratitude for the team's efforts and continued commitment to the sector.

Hooray Foods representing approximately 100% of its workforce on 2023-09-17.

Cisco laid off 350 employees on 2023-09-17.

Last week, 7shifts, a restaurant workforce management platform, announced a difficult team reduction of 7%, which impacted approximately 30 employees. This marks the company's hardest change since the COVID-19 pandemic as it aims to build a stronger future. The layoffs occurred in the technology industry, specifically within the SaaS sector for restaurants. The company is supporting affected staff by sharing their profiles with hiring managers to help them find new opportunities.

Fintech startup Velocity, a revenue-based financing platform for Indian D2C and ecommerce brands, laid off approximately 14% of its workforce earlier this week, affecting around 22 employees from various departments. The company, which had a headcount of about 150-160 prior to the cuts, stated the restructuring was aimed at eliminating redundancies, automating workflows, and achieving profitability for sustainable growth. While sources suggested the layoffs could be part of a cost-cutting measure to extend the startup's runway, CEO Abhiroop Medhekar emphasized that the decision was strategic and that most of its $20 million Series A funding from 2021 remains unused. Velocity, backed by Valar Ventures and other investors, reported a significant increase in net loss to INR 7.9 crore in FY22 despite growing revenue.

Sage Therapeutics copy laid off 290 employees on 2023-09-15.

R3 representing approximately 20% of its workforce on 2023-09-14.

Project44 laid off 116 employees on 2023-09-14.

Airtable laid off 237 employees representing approximately 27% of its workforce on 2023-09-14.

VideoAmp laid off 40 employees representing approximately 10% of its workforce on 2023-09-14.

Akili Labs representing approximately 40% of its workforce on 2023-09-13.

Google is conducting a new round of layoffs in the Bay Area, planning to eliminate dozens of positions. This move, revealed in late October 2023, is part of the tech giant's ongoing efforts to streamline operations and manage costs. While the exact number of affected employees is not specified as a precise figure or percentage of its total global workforce, the cuts are described as impacting multiple dozens of workers. As a leading company in the technology industry, Google continues to adjust its staffing in response to broader economic conditions and strategic priorities.

Denver-based vacation rental property manager Evolve is laying off approximately 175 employees, representing 20% of its workforce, as announced in a letter from co-founder and CEO Brian Egan. This marks the company's second major round of cuts in 2024, following a 14% reduction (164 employees) in May, which was attributed to a market oversupply leading to lower rates and revenue. The latest layoffs, reported in late 2024, are part of a strategic effort to scrutinize all costs, including both payroll and non-payroll expenses, to transform the company into a highly profitable enterprise. The decision reflects a shift from the defensive, volume-driven cuts in May to a more proactive restructuring, with elements of the layoffs linked to offshoring support and AI-induced efficiencies.

German real estate startup Homeday, facing a severe market downturn, has been fully acquired by media conglomerate Axel Springer. As part of this takeover and a strategic refocusing, the company is cutting one-fifth of its workforce. The exact number of layoffs is not specified, but this significant reduction coincides with the departure of all three founders. The move, confirmed in September 2023, is a direct response to the crisis in the property sector, where high inflation, rising interest rates, and sustained high prices have drastically reduced buyer activity and transaction volumes, crippling Homeday's commission-based business model.

Cyber insurance unicorn At-Bay has laid off 27 employees, representing almost 10% of its total workforce of 305 people. The company, which achieved a $1.35 billion valuation in 2021, stated the layoffs in September 2023 were a structural adjustment to ensure long-term success, primarily affecting support roles like recruitment. At-Bay, operating in the insurtech and cybersecurity industry, combines insurance policies with active security services to reduce client risk. Despite the cuts, the company emphasized its financial strength and commitment to future growth.