Layoff Events

Verse representing approximately 100% of its workforce on 2023-08-07.

Dell Technologies is implementing layoffs within its core sales teams as part of a strategic shift to a new partner-led go-to-market model, particularly for storage products. While the exact number of affected employees was not specified in this announcement, the company is restructuring to incentivize its direct sales force to sell more through channel partners. This move, confirmed by a Dell spokesperson, aims to enhance competitiveness and align with market demands that favor indirect sales. The layoffs occur in the broader context of the technology industry's adjustments and follow a larger reduction of 6,650 jobs announced by Dell earlier in the year. Partners view this change positively, seeing it as an opportunity to deepen collaboration with Dell and drive future growth.

In August 2023, space company Astra laid off 25% of its workforce as part of a strategic shift to conserve cash and focus on its spacecraft engine business. The layoffs, affecting employees in launch, sales, administration, and shared services, are expected to save over $4 million per quarter starting in Q4 2023. With dwindling cash reserves—reportedly around $26 million—and limited near-term revenue prospects, Astra is reallocating at least 50 engineers to spacecraft production, which has secured around $77 million in contracts. This move will delay testing of its Rocket 4 and Launch System 2.0. The company is also seeking additional capital through financial advisors and a recent debt sale to sustain operations.

CodeClan laid off 57 employees representing approximately 100% of its workforce on 2023-08-04.

Qomplx laid off 60 employees on 2023-08-04.

Pan-African media company Big Cabal Media, parent to TechCabal, Zikoko, and Citizen, laid off 19% of its workforce on August 4, 2023, citing harsh market conditions. The decision, described as challenging, was driven by revenue growth that still fell short of budgetary expectations, partly due to Nigeria's currency devaluation. The company's new publication, Citizen, focused on Nigerian politics, was most affected. Despite a 180% year-on-year revenue increase in the first half of the year, Big Cabal Media aims to become more efficient and self-sustaining by focusing on its tech media and data analytics arms. Affected employees will receive two months' salary as part of the transition.

Discord has laid off nearly 40 employees, representing 4% of its workforce, as part of a company reorganization. The job cuts affected teams in marketing, design, and entertainment partnerships, with the company stating it is focused on long-term growth.

Top Hat, a Canadian educational technology company, has reduced its headcount as part of a broader industry downturn. The layoffs, confirmed in early August 2023, reflect the severe market pressures facing tech startups. With rising interest rates and a sharp decline in venture capital funding, companies across the sector are being forced to cut costs to preserve cash and pursue profitability. Top Hat's staff reduction places it alongside other Canadian firms like Fable and the now-closed Silofit, contributing to a global wave of tech layoffs that has seen over 225,000 jobs eliminated in 2023 alone. The company operates in the competitive edtech space, where securing sustainable funding has become increasingly challenging.

Aware on 2023-08-03.

Discord laid off 37 employees representing approximately 4% of its workforce on 2023-08-03.

Fintech giant Finastra has laid off dozens of employees at its Israeli R&D center in August 2023, marking a second wave of layoffs this year following a similar round in January. The company, which employs over 11,000 people globally with about 370 in Israel, is restructuring to outsource roles to India and the Philippines as a cost-cutting measure. The Israeli branch is crucial, developing the Fusion Global PAYplus payment system used by hundreds of financial institutions worldwide. This move reflects broader challenges in the tech sector, impacting a key innovation hub within the global fintech industry.

Indonesian fintech company Ayoconnect laid off 10% of its workforce in early August 2023 as part of a strategic move to achieve profitability targets. The company, which operates in the financial technology industry, made this difficult decision to streamline operations and improve its financial sustainability. While the exact number of employees affected was not specified, the reduction impacted a significant portion of the team, reflecting the challenging economic environment faced by many tech startups striving for long-term viability.

Bardee laid off 30 employees on 2023-08-03.

SoftBank-backed UK event ticketing platform DICE confirmed a round of layoffs in early August 2023 as part of a company restructuring. The company, which operates in the event tech and marketplace industry, stated the move was a difficult decision to refocus on its most important initiatives. While DICE did not disclose the exact number of employees affected, the layoffs were implemented to streamline operations and ensure strategic focus amid broader market adjustments.

Brazilian HRTech company Gupy conducted its first layoff since its 2015 founding, reducing its workforce by 8.5%, which equates to 58 employees. The decision, announced on August 2, 2023, was part of a strategic reorganization to integrate its products into a unified ecosystem, moving away from a model with separate business units. This restructuring, following three acquisitions in three years that grew the team by 135%, revealed role overlaps. Leadership emphasized the move was for operational synergy and efficiency, not financial pressure, noting the company's healthy balance sheet and ongoing hiring plans. Gupy operates in the HR technology industry and is scaling its product offerings.

Spinny, a Tiger Global-backed used car marketplace, has laid off approximately 300 employees as part of a business restructuring. This reduction affects about 5% of its workforce, which totals around 6,000 to 6,200 employees. The layoffs, announced in early August 2023, are connected to the company's strategic move to merge its Truebil and Spinny Max operations under the main Spinny brand. This reorganization aims to streamline operations in the competitive automotive e-commerce industry.

HackerOne, a bug bounty and penetration testing platform, is laying off 12% of its workforce, impacting employees worldwide, as a one-time event due to the global economic slowdown and cost burdens from products that did not meet expectations. The company has over 450 employees, suggesting more than 50 are affected, with severance packages provided. The layoffs were announced on Wednesday.

Gem, a recruiting software company, has laid off approximately 70 employees due to challenging macroeconomic conditions that have led many companies to pause or slow hiring, reducing demand for its services. This workforce reduction, announced by CEO Steve Bartel, is aimed at extending the company's financial runway by multiple years to ensure long-term stability and continued service for customers. The layoffs reflect broader industry contractions affecting HR tech, as Gem adjusts its structure to weather a potential prolonged economic downturn while maintaining its product and service quality.

California-based SaaS automation startup Tekion, founded by former Tesla executive Jay Vijayan, has laid off approximately 300 employees, representing about 10% of its workforce, as part of a restructuring effort. The majority of those affected, around 200 individuals, were based in the company's India offices in Bengaluru and Chennai. Announced in a town hall meeting on July 31, the layoffs impacted various teams including tech, sales, marketing, and HR. Tekion cited "changing macroeconomic conditions" and the need for organizational adjustments as reasons, though sources indicate missed revenue targets and product rebuilds also contributed. The company, last valued at $3.5 billion after a 2021 funding round, is providing severance and transition support to the impacted employees.

TripAdvisor on 2023-08-02.

Indian fintech startup FamPay, a neo-bank for teenagers backed by Peak XV, has laid off 18 employees in its second round of job cuts, as reported in August 2023. The company, founded in 2019, is streamlining operations to optimize its business model in the competitive digital payments industry. While the exact percentage of the workforce affected wasn't specified, this move reflects broader challenges and restructuring efforts within the startup sector to achieve sustainable growth.

ConnectedH, a B2B healthtech startup backed by Kalaari Capital, has ceased operations and is returning remaining capital to investors. The company, which employed a team of undisclosed size, effectively laid off all staff as a result of the shutdown last month, though the cofounder stated team members have been placed in new roles. Founded in 2018, the startup provided CRM and diagnostic lab tools but ultimately ran into insurmountable market realities amid the ongoing funding winter, leading to its closure just two years after raising $2.3 million in seed funding. This marks another casualty in the competitive healthtech industry, highlighting the challenges faced by early-stage ventures in securing sustainable growth.

BetterUp, a career coaching startup valued at nearly $5 billion, is laying off 16% of its workforce, affecting over 100 employees. The company, which employs Prince Harry as its chief impact officer, announced the cuts in August 2023 amid internal challenges, including missed financial targets and efforts to reduce overhead. This restructuring follows a period of tumult within the organization.

Israeli unicorn Augury, a provider of AI-driven mechanical diagnostics platforms, has laid off 70 employees, representing 18% of its workforce of 390. This marks the company's second round of layoffs in 2023, following a smaller reduction earlier in the year. The cuts are split equally between its Israeli and international teams. Founded over a decade ago, Augury experienced rapid growth, expanding from about 80 to 400 employees and increasing revenue tenfold in three years, bolstered by a $180 million funding round in late 2021 and the acquisition of Seebo in 2022. However, citing a need to streamline operations and pursue profitability amid challenging market conditions, the company made this difficult restructuring decision in August 2023 to ensure long-term success.

Salesforce laid off 50 employees on 2023-08-02.

Paper, an education technology company, laid off 106 employees from its corporate headquarters team on August 1, 2023. This reduction affected roughly 4% of its total workforce. The company cited shifting market conditions in the education sector, where school districts are operating with tighter budgets, as the primary reason. To ensure long-term sustainability, Paper is optimizing its investments and organizational structure. The founders expressed that this difficult decision was made to strengthen the company's future position while acknowledging the impact on affected employees, who were offered a comprehensive separation package including severance, extended benefits, and continued platform access for their families.

Satellite-imagery and data-analysis company Planet announced a restructuring on Tuesday, laying off 117 employees, which represents about 10% of its workforce of approximately 1,000. The move is aimed at increasing focus on high-priority growth opportunities and improving operational efficiency to support the company's long-term strategy and path to profitability. CEO Will Marshall took responsibility for the decisions leading to the layoffs, citing that the company's expansion since its 2021 public listing had increased costs and complexity. This follows a lowered annual forecast earlier in the year due to a challenging macro environment.

Outreach representing approximately 5% of its workforce on 2023-08-01.

Indigo on 2023-08-01.

inDrive, a global ride-hailing and delivery service, laid off approximately 150 employees in early 2024, representing about 3% of its total workforce. The company cited a strategic restructuring to enhance operational efficiency and focus on core markets as the primary reason. This move reflects broader adjustments within the competitive tech and mobility industry, where inDrive operates as a mid-to-large-scale international firm. The layoffs were part of efforts to streamline operations amid evolving market demands and growth challenges.

Vesttoo, an Israeli insurtech startup, is laying off approximately 150 employees, which represents about 75% of its total workforce. This drastic reduction, announced in early August 2023, comes in the wake of a major fraud scandal involving an estimated $4 billion in allegedly fake letters of credit used in reinsurance transactions on its platform. CEO Yaniv Bertele stated the layoffs were a painful but necessary step to give the company a fighting chance at survival, preserving only a small core team for essential operations as it navigates the crisis and attempts to rebuild its business model aimed at revolutionizing the reinsurance industry.

Increff, a Premji Invest-backed SaaS startup in the logistics and supply chain industry, laid off approximately 60 employees, representing 20% of its workforce, last week as part of a cost-cutting drive to return to profitability. The layoffs affected multiple teams including tech, sales, customer success, and HR. The decision was driven by adverse macroeconomic conditions, failure to meet new client onboarding targets, and the unexpected challenges in its US and European expansion despite significant marketing investments. While the startup is not abandoning its international plans, it is shifting to a more partner-led sales approach and reducing marketing expenses to achieve financial sustainability.

Archipelago laid off 40 employees representing approximately 30% of its workforce on 2023-08-01.

Qoala, an Indonesian insurtech startup, laid off approximately 30 employees in early 2024 as part of a strategic restructuring to enhance operational efficiency. This reduction affected around 10% of its workforce, which totals about 300 employees. The company cited a need to streamline operations and focus on core business areas amid a challenging economic environment. Qoala operates in the financial technology and insurance industry, serving as a digital insurance platform that connects users with various insurance products. The layoffs reflect broader trends in the tech sector, where companies are adjusting to market conditions to ensure sustainable growth.

China's AI chipmaker Cambricon, through its autonomous driving chip subsidiary SingGo, has reportedly laid off nearly half of the software department employees, retaining only a core team. This significant reduction, occurring around July 2023, reflects the intense challenges within the semiconductor industry, particularly for Chinese AI chip developers facing operational hurdles and financial pressures despite the broader AI boom. The layoffs are part of a strategic adjustment as the company navigates a difficult market environment and strives to streamline its operations.

Kape Technologies laid off 200 employees representing approximately 30% of its workforce on 2023-07-30.

Eroad, a New Zealand-based telematics and transportation technology company, faced shareholder scrutiny during its annual meeting on July 28, 2023, amid a prolonged share price collapse and a takeover offer from Volaris, owned by Constellation Software. Chair Susan Paterson acknowledged the company's unsatisfactory performance, attributing it partly to market conditions and internal factors. While the article does not specify layoffs, the context highlights significant corporate challenges, including potential restructuring or strategic shifts as the company navigates financial pressures and a possible acquisition in the tech industry.

Homology on 2023-07-28.

Kape laid off 180 employees on 2023-07-28.

Datree, a Y Combinator-backed startup in the Kubernetes and DevOps security industry, is shutting down after six years, resulting in the layoff of its entire team. The company, which had developed an open-source policy management solution used by hundreds of companies daily, was unable to achieve a sustainable business model despite building a strong community with over 6,000 GitHub stars. The closure was announced by founders Shimon and Eyar, who expressed gratitude to their team, customers, investors, and the broader tech community for their support throughout the journey.

Degreed, an enterprise learning and skills development platform, has conducted a small-scale layoff, affecting an unspecified number of its employees. The company's co-founder and CEO, David Blake, announced the workforce reduction, framing it as a difficult but necessary tradeoff in the ongoing "remaking" of the business. The decision is part of a broader strategic realignment to focus on client needs and accelerate product innovation, aiming to solidify its position in the competitive EdTech industry. While the exact percentage of the workforce impacted is not disclosed, the move reflects the challenging operational decisions faced by scaling tech companies as they refine their focus and strive for sustainable growth.

Milkbasket, a subscription commerce firm acquired by Reliance, is reportedly laying off approximately 400 employees, which represents about two-thirds of its total workforce of roughly 600. This significant reduction, occurring in late July 2023, includes the entire offline marketing, sales, and head office teams. The layoffs are part of a broader integration with Reliance's JioMart platform, which is phasing out the Milkbasket brand in favor of a new 'Jio Smart Daily' service. Despite Reliance's official denial of layoffs, citing only role realignments, sources indicate that many employees are being asked to resign, with only a portion expected to be absorbed into other group companies like Reliance Stores and Bazaar. This restructuring follows the recent exits of top executives and reflects the ongoing consolidation within the e-commerce and retail industry under Reliance's umbrella.

ContextLogic Holdings Inc., the parent company of the e-commerce platform Wish, has undergone a significant transformation into a business ownership platform. As part of this strategic shift following its acquisition of US Salt in February 2026, the company has implemented layoffs. While the exact number of employees affected is not specified in the provided materials, the restructuring is a direct result of the company's move away from its core Wish marketplace operations to focus on acquiring and managing a portfolio of long-duration businesses. This reorganization, announced in early 2026, reflects a major pivot for the former e-commerce giant within the technology and retail sector.

Israeli AI transcription unicorn Verbit is laying off 60 employees, constituting about 6% of its 1,048-person workforce. This round, announced in July 2023, includes 20 layoffs in Israel and 40 abroad. The company, valued at $2 billion, cites a streamlining process to achieve profitability and eliminate role duplication following several acquisitions. This follows a previous 10% workforce reduction in July 2022. Verbit's employee count had recently doubled due to converting many freelancers to full-time staff.

Point laid off 61 employees representing approximately 28% of its workforce on 2023-07-27.

Akseleran, an Indonesian peer-to-peer lending fintech platform, laid off approximately 30 employees in early 2023, representing around 15% of its workforce at the time. The company cited a strategic restructuring to enhance operational efficiency and navigate challenging global economic conditions as the primary reasons for the workforce reduction. This move reflects broader trends in the fintech industry, where companies are adjusting their strategies to ensure sustainability amid market uncertainties.

Copia, a Kenyan e-commerce platform focused on low-income households, has laid off 350 employees, representing 25% of its 1,800-strong workforce. This third round of layoffs in 2023, announced in July, is part of a restructuring effort to reduce labor costs and improve profitability amid economic challenges. The company, which previously closed its Ugandan operations and conducted earlier layoffs, stated the move aims to optimize operations and drive sustained profitability while complying with Kenyan labor laws. Affected employees will receive severance packages, with the workforce reducing to 1,450.

Kleos Space, a Luxembourg-based geospatial intelligence startup specializing in radio-frequency reconnaissance satellites, has filed for bankruptcy after running out of cash. The company, which operated a constellation of satellites to detect and locate RF signals for government and commercial clients, was unable to secure additional funding. Its financier, Pure Asset Management, withdrew further credit on July 25, leading to the bankruptcy announcement on July 26. Kleos faced setbacks including satellite malfunctions, launch delays, and challenges in raising capital, ultimately leaving it unable to meet financial commitments. The company, part of the space and defense industry, had developed disruptive technology and served a global customer base but succumbed to these financial and operational hurdles.

Calendly laid off 60 employees representing approximately 10% of its workforce on 2023-07-26.

Figure laid off 90 employees representing approximately 20% of its workforce on 2023-07-26.