Layoff Events

Ripl, a startup in the technology industry, recently underwent a restructuring that resulted in layoffs, though the exact number of employees affected was not specified in the announcement. The company's CEO, Carey DiJulio, shared the difficult decision on LinkedIn, expressing heartbreak over letting go of talented team members while emphasizing optimism for the company's new direction. A talent directory was created to help those laid off find new opportunities, highlighting the impact on individuals within the small to mid-scale startup environment. The layoffs reflect broader challenges in leading a startup through change, with the post dated around 2022 based on the timeline.

Myntra, the Flipkart-owned fashion e-commerce platform, laid off approximately 50 employees in late July 2023 as part of an internal restructuring. This move was driven by a strategic shift to revamp its private label business, focusing on a select few key in-house brands like Roadster, HRX, and Mast & Harbour, rather than scaling its entire portfolio of around 20-25 brands. The layoffs, while affecting various verticals, primarily impacted staff in the in-house brands division. This restructuring reflects Myntra's effort to streamline operations and adapt to competitive pressures in the online fashion retail industry, where it faces rivals such as Ajio and Tata Cliq. The company, led by CEO Nandita Sinha, emphasized that such recalibrations are routine and offered affected employees opportunities to transition to other roles within the organization or its group companies.

Israeli cybersecurity startup Deep Instinct laid off 46 employees, representing over 15% of its roughly 300-person workforce, in July 2023. The cuts affected 19 staff in Israel and 27 across its European and U.S. offices. The company, which had raised significant funding including a $62 million round in 2022, also shifted its hiring strategy away from Israel, focusing recruitment on Europe and the U.S. This restructuring followed a leadership change in late 2022, with co-founder Guy Caspi moving from CEO to chairman. Deep Instinct provides AI-powered threat prevention and analysis platforms.

Pluralsight, a Draper-based technology company, has conducted its third round of layoffs in seven months, affecting an unspecified number of employees this week. This follows previous cuts of 400 workers in December and additional layoffs in April, reflecting ongoing restructuring within the firm. The company has not disclosed the exact figures for this latest reduction, including the total workforce or the percentage impacted. These repeated job cuts indicate continued adjustments in the tech industry as companies navigate economic challenges.

Onfido, a UK-based identity verification software scaleup, conducted layoffs in 2022 as part of a strategic shift to achieve cashflow positivity by the end of 2024. While the exact number of employees laid off was not disclosed by CEO Mike Tuchen, it was fewer than the 11% reduction suggested by LinkedIn data. The company's current workforce stands at approximately 600. The layoffs were driven by challenging market conditions, including reduced software spending by corporate clients and slower growth, prompting Onfido to prioritize efficiency over growth and reduce its reliance on venture capital funding. Operating in the fintech and SaaS industry, Onfido, once a unicorn, is focusing on expanding its customer base in Europe amid a downturn.

AppHarvest, a Kentucky-based indoor farming startup that once reached a $1 billion valuation, filed for Chapter 11 bankruptcy on July 24, 2023. The company, which had aimed to revolutionize agriculture with high-tech greenhouses and create jobs in Appalachia, laid off nearly all of its workforce as part of the bankruptcy proceedings. While an exact layoff number isn't specified in this summary, the shutdown affected hundreds of employees across its multiple facilities. Founded in 2018 and backed by notable figures, AppHarvest struggled with persistent operational issues, labor challenges, and financial losses despite significant public and private funding, leading to its eventual collapse in the competitive agtech industry.

Munich-based luxury delivery startup Arive has halted operations and laid off half of its workforce amid severe financial difficulties. The company, which temporarily suspended its service at the end of June 2023, is now urgently seeking a buyer after cost-cutting measures and a revised business model failed to stem losses. Operating in the competitive on-demand delivery industry, this small-scale startup faced ongoing challenges in achieving profitability, leading to significant staff reductions and an uncertain future.

Bundle Africa, an African cryptocurrency exchange and social payment app, is shutting down after three years of operation as of July 2023. The closure is part of a shareholder decision to restructure the business and focus on its peer-to-peer platform, Cashlink, which will continue independently. As a result, the entire team supporting the Bundle exchange will be phased out in batches. While the exact number of layoffs was not specified, the shutdown effectively means the entire workforce dedicated to the Bundle app is affected. The company, which had become a leading indigenous crypto app in Nigeria with over a million downloads, cited the need to navigate uncertain regulatory conditions as a key factor in its pivot. Users have been given 60 days to withdraw their assets.

PathAI laid off 87 employees on 2023-07-21.

Proptech startup Stoa has laid off approximately 80 employees, reducing its workforce by 80% from around 100 to just 20, as reported in July 2023. The company, which operates in the U.S. real estate market, faced a significant blow to its business model due to rising inflation and the economic crisis that dramatically altered the sector. Despite raising a total of $300 million since its 2017 founding, including a rapid influx of capital between late 2021 and mid-2022, Stoa is now undergoing a reorganization. The Arizona-based startup, founded by Israelis, stated it has several potential deals under consideration as it navigates an uncertain future.

Indian quick-commerce startup Dunzo announced its third round of layoffs in seven months in late July 2023, with an estimated 200 employees, or at least 20% of its workforce, expected to be impacted. This decision, communicated by co-founder Mukund Jha, comes as the company grapples with severe cash flow issues, which have also forced it to delay salary payments from June until September for many staff. The startup, which had already let go of 380 employees in prior cuts, is taking these measures to streamline operations and build a more sustainable business despite claiming to have an 18-month financial runway.

Software developer Phunware announced on Thursday that it will lay off approximately 33% of its workforce as part of a series of cost-cutting measures. The company, which operates in the technology and software industry, expects these actions to result in annual savings of over $5 million. Phunware's CFO stated that streamlining operations and reducing non-essential expenses are aimed at lowering operating costs, improving financial performance, and enhancing shareholder value. The announcement coincided with a decline in the company's stock, which has fallen about 52% year-to-date.

Viaplay, the Nordic streaming service, is laying off approximately 450 employees, representing over 25% of its workforce, as part of a major restructuring announced in July 2023. The company is pulling its non-sports streaming services from the U.S. and UK to refocus on its core Nordic and Dutch markets, alongside international content distribution via Viaplay Select. This strategic shift, driven by new CEO Jørgen Madsen Lindemann, follows disappointing international expansion and includes a review of options like equity injections or a potential sale. The layoffs, costing around $4 million, affect senior executives and come as Viaplay aims to streamline operations and prioritize Nordic originals and sports rights.

In July 2023, adtech firm MiQ conducted a quiet round of layoffs, affecting approximately 4% of its workforce. The company, which is backed by private equity, closed its office in Germany and made redundancies in the UK and other markets. This move reflects ongoing challenges in the adtech industry, where companies are grappling with lower advertising rates and prolonged economic uncertainty, leading to continued workforce reductions even after earlier cuts in 2022 and early 2023.

Inspirato, a luxury travel subscription service, laid off approximately 50 employees yesterday, representing about 6% of its workforce. The company, which provides affluent travelers with access to high-end vacation homes and hotels, is facing challenges specific to its business model. This move suggests that luxury subscription services may not hold the perceived value for wealthy customers that the company anticipated, highlighting difficulties within this niche segment rather than the broader luxury travel industry.

Dunzo, a hyperlocal delivery startup in India, is planning to lay off over 200 employees as part of its third round of layoffs this year, aiming to streamline cash flow and build a more sustainable business amid a search for new funding. The company has already eliminated about 400 jobs this year and is deferring employee salaries to manage expenses.

Blue Apron, a meal kit delivery company, conducted a corporate workforce reduction on July 19 as part of a restructuring plan tied to its recent transaction with FreshRealm. While the exact number of employees laid off was not specified in the disclosure, the move reflects ongoing efforts to streamline operations and adapt to market challenges within the competitive food and e-commerce industry. This follows a broader trend of adjustments for the company, which has faced financial pressures and shifting consumer demands.

Square Roots, a vertical farming startup co-founded by Kimbal Musk, Elon Musk's brother, has shut down most of its locations and laid off the majority of its workforce. The company halted production at farms in Springfield, Ohio; Shepherdsville, Kentucky; and Kenosha, Wisconsin, in July 2024, with only one farm in Grand Rapids remaining open to service business partners. While an exact layoff count is unavailable, the company had an estimated 198 employees as of June, and reports indicate all on-site staff at the closed locations were terminated, with nearly all of the over two dozen employees at Grand Rapids also let go. This restructuring reflects challenges in the tech-driven agriculture industry as the startup, which had raised over $90 million, shifts its business model amid broader economic pressures.

Microsoft has laid off over 1,000 employees in the past week, primarily within its sales and customer service teams, including the dissolution of its "Digital Sales and Success" group. These cuts exceed the 10,000 job reductions announced earlier in 2023 and are part of a strategic shift to accelerate product consumption rather than traditional customer support. The layoffs, which also affected engineering and marketing roles, coincide with the start of Microsoft's new fiscal year in July and have been implemented with limited communication from leadership, leaving many managers and employees uncertain about the rationale.

Cameo laid off 80 employees on 2023-07-18.

IBM is laying off dozens of storage software developers at its Israeli development center, which employs hundreds of workers and was originally established after the acquisition of startup XIV in 2008. The layoffs, reported in July 2023, are part of IBM's ongoing review and evolution of its product portfolio to stay innovative and meet client needs. While the exact number affected is not specified, the company stated it impacts a small percentage of its staffing in Israel, where IBM employs around 3,000 people across multiple centers. These cuts reflect broader trends in the tech industry, with other giants like Meta and Amazon also reducing their workforces in the region.

Sarcos laid off 75 employees representing approximately 25% of its workforce on 2023-07-17.

Lamudi Indonesia, a property technology company, has laid off an unspecified number of employees as part of a restructuring effort. The layoffs were reported in July 2023, reflecting broader challenges within the tech and real estate sectors. While exact figures regarding the total workforce and the percentage affected are not detailed in the available content, the move indicates strategic adjustments by the company to navigate market conditions. Lamudi operates as a digital real estate platform in Indonesia, serving as a key player in the region's online property listings industry.

Ezoic representing approximately 28% of its workforce on 2023-07-17.

In July 2023, data loss prevention and insider risk software company Code42 conducted a round of layoffs, eliminating an unspecified number of positions across the organization. The company's CEO, Joe Payne, cited ongoing market uncertainty as the reason, stating the move was a difficult but necessary step to achieve cash flow positivity by 2024. Founded in 2001 and having raised $137.5 million in venture funding, Code42 had recently shifted its focus from its CrashPlan backup service to its Incydyr data loss prevention SaaS platform. The layoffs affected dedicated professionals across the company, which maintains healthy cash reserves and continues to operate in the competitive cybersecurity and data protection industry.

Binance laid off 1,000 employees on 2023-07-14.

PayScale laid off 14 employees representing approximately 2% of its workforce on 2023-07-14.

In July 2023, the fintech startup Navi Technologies, founded by Flipkart co-founder Sachin Bansal, laid off between 150 to 200 employees. This workforce reduction, impacting product, analytics, and technology functions, occurred amid a delayed initial public offering (IPO) and a broader push toward revenue generation. The company attributed the departures to routine performance appraisals, stating it still planned to hire, including over 150 campus recruits. The layoffs reflect challenges within the fintech sector and Navi's strategic adjustments as it navigates regulatory hurdles and market corrections, having postponed its planned Rs 3,350 crore IPO despite earlier regulatory approval.

Uber Freight laid off 40 employees on 2023-07-13.

Peloton, the connected fitness company, announced in February 2024 that it would lay off approximately 400 employees, representing about 15% of its global workforce. This restructuring is part of a broader cost-cutting plan aimed at streamlining operations and returning the company to sustainable growth. The move follows a period of declining demand post-pandemic and is intended to reduce annual expenses by over $200 million. As a publicly traded company in the consumer fitness technology industry, Peloton is refocusing its strategy to stabilize its financial position.

AudioCodes, an Israeli provider of communication solutions for digital work environments, laid off approximately 10% of its workforce in July 2023. This reduction, affecting around 100 employees from a total of roughly 1,000, was a direct response to a significant downturn in the company's financial performance. Following the waning demand post-pandemic, AudioCodes faced declining revenues, a crashing stock price, and revised its annual forecast downward. The layoffs were part of a broader restructuring effort aimed at reducing costs and stabilizing the company amidst these challenging market conditions.

Centr laid off 22 employees on 2023-07-13.

Tempo Automation laid off 62 employees on 2023-07-13.

Deepwatch, a cybersecurity company providing managed detection and response (MDR) services, laid off approximately 10% of its workforce in early 2024, affecting around 50 employees. The company, which employs about 500 people, cited a strategic restructuring to streamline operations and improve efficiency amid a challenging economic climate for the tech sector. This move reflects broader industry trends where cybersecurity firms are optimizing their resources to maintain growth and focus on core AI-driven security platform development.

SAS on 2023-07-13.

BARK Inc., the pet product company known for its BarkBox subscription service, announced a new cost reduction initiative on Thursday, which includes laying off employees. While the exact number of employees affected was not specified in the announcement, the layoffs are part of a broader effort to accelerate the company's strategic shift toward achieving sustainable profitability and positive free cash flow. This move reflects ongoing challenges within the consumer goods and e-commerce sector as companies adjust their operations in response to economic pressures.

Engineering-focused edtech startup Skill-Lync laid off 20% of its workforce, affecting over 200 employees, as part of a cost-reduction strategy in July 2023. This marked the company's second round of layoffs in 2023, following earlier cuts of 300-400 employees in April. With a total headcount of about 800, the layoffs were driven by a strategic shift to streamline student delivery and learning operations, while limiting investments in future content and production. The move aimed to extend the company's financial runway amid challenging funding prospects, despite having raised $20 million from investors like Iron Pillar and Y Combinator. Skill-Lync, which provides industry-relevant courses for engineering students, joins other growth-stage startups facing similar pressures after initial fundraising successes.

Netlify, a web development platform company, has announced a restructuring that includes layoffs. While the exact number of employees affected was not disclosed in the CEO's announcement, the move is part of a strategic shift to simplify the organization, accelerate decision-making, and focus on enterprise customers. This follows a period of significant growth from 2020 to 2023 and recent acquisitions of Gatsby and Stackbit. The decision, announced in early 2024, is driven by the need for financial discipline in a challenging market and a refocus on core product and engineering initiatives for the enterprise. The company is providing support to departing employees, including extended stock option exercise periods.

Amazon, the global e-commerce and technology giant, laid off approximately 80 employees from its pharmacy division on Thursday. This represents a small fraction of the company's vast workforce, as Amazon has already cut about 27,000 jobs across its businesses this year. The latest reductions, affecting pharmacy technicians and team leads but largely sparing registered pharmacists, are part of ongoing adjustments to organizational needs and economic conditions. The company stated the move allows it to continue investing in customer experience for its pharmacy services, a sector it entered four years ago with the acquisition of PillPack and the launch of Amazon Pharmacy.

Factorial, a Spanish HR tech unicorn valued over $1 billion, laid off more than 20 employees in July 2023. This follows the company's dismissal of its chief product officer in June. While the company cites excessive bureaucratization as the reason, internal sources point to concerns over growth rates. Despite raising over €100 million in 2022, Factorial's growth slowed to 2.8 times its 2022 figures, missing its internal target of tripling revenue. The layoffs reflect strategic adjustments amid a challenging tech investment climate, impacting a small portion of its workforce, which numbers in the hundreds.

Circle on 2023-07-12.

Freightos, an Israeli freight booking and payment platform, is laying off approximately 50 employees, representing 13% of its workforce, which will reduce total staff to around 350. This cost-cutting measure, announced in late 2023, aims to accelerate the company's path to profitability amid persistently weak market conditions. The move is expected to improve adjusted EBITDA by about $1.4 million per quarter. Concurrently, Freightos downgraded its full-year revenue and transaction outlook for the second time in 2023, reflecting broader challenges in the logistics and supply chain digitization industry. CEO Zvi Schreiber emphasized that these efficiency measures are designed to ensure long-term, sustainable growth despite the difficult decision to reduce the team.

Stitch Fix, an online personal styling service, is laying off approximately 393 employees as it closes its Bethlehem, Pennsylvania warehouse, known internally as the Bizzy. The layoffs, part of broader cost-cutting measures amid revenue declines, will occur in waves from September 2023 through February 2024. The company decided not to renew the warehouse lease, consolidating its fulfillment operations to three other centers. This closure follows the shutdown of its Mohnton Mills sewing factory last year and is expected to save about $15 million annually. The move reflects ongoing challenges in the retail and e-commerce industry as Stitch Fix adjusts its operational footprint.

CyberGRX on 2023-07-12.

Dapper Labs, the blockchain company behind NBA Top Shot, laid off approximately 51 employees, representing around 12% of its workforce, in November 2023. The layoffs were part of a restructuring effort to streamline operations and focus on core products, reflecting broader challenges in the cryptocurrency and NFT industry. The company, which had grown rapidly, aimed to achieve a more sustainable cost structure amid shifting market conditions.

DeepVerge laid off 50 employees representing approximately 100% of its workforce on 2023-07-12.

Duck Creek Technologies representing approximately 9% of its workforce on 2023-07-12.

Expedia on 2023-07-12.

Software unicorn Sisense has laid off 100 employees, constituting approximately 15% of its workforce, in July 2023. This significant reduction impacts all departments, including its Israeli headquarters. The layoffs are part of a series of challenges for the company, following executive departures, previous smaller-scale job cuts, a hiring freeze, and a recent CEO transition. Founded in 2004 and valued at over $1 billion, Sisense operates in the business analytics software industry and has undergone several strategic shifts in its business focus in recent years.

Online insurance agency EverQuote is laying off 98 employees at its Evansville, Indiana office by August 28, as part of a broader restructuring to reduce non-marketing operating expenses by over 15%. The Cambridge, Massachusetts-based company, which reported $404 million in revenue for 2022, is streamlining its operations, including exiting its health insurance vertical that represented about 10% of its revenue. CEO Jayme Mendal stated the cost-cutting measures aim to position EverQuote for growth and profitability, anticipating a return to normal consumer acquisition patterns by auto insurance carriers. The layoffs follow the company's acquisition of Evansville-based Crosspointe in 2020 and subsequent expansion in the area.