Layoff Events

New Relic laid off 255 employees representing approximately 10% of its workforce on 2023-06-27.

Honor representing approximately 15% of its workforce on 2023-06-27.

Loopio, a Toronto-based software company specializing in response management solutions, has laid off 9% of its workforce. The difficult decision was announced by co-founders Zak Hemraj and Matt York, who expressed deep gratitude to the departing employees for their contributions to the company's growth. While the exact number of affected employees wasn't specified, the reduction reflects broader economic challenges and capital market shifts impacting the tech industry. The company emphasized that its ambition and commitment to customers remain unchanged, and it is actively assisting the impacted team members in finding new opportunities through a dedicated alumni email.

Clearpay, a buy-now-pay-later (BNPL) fintech company, is winding down its operations in France, Italy, and Spain, leading to the potential layoff of all its European staff in those markets. The decision, announced in June 2023, is attributed to tough economic trading conditions in the European Union. The company will cease taking new customers from July 3rd and fully shut down its EU operations by August 25th. While the exact number of affected employees is not specified, the closure threatens all jobs in the region. Clearpay's operations in the UK, North America, Australia, and New Zealand remain unaffected. This move highlights the challenging environment for fintech firms, with other BNPL players also facing workforce reductions amid economic pressures and increased regulatory scrutiny.

Lordstown Motors, an electric vehicle startup specializing in pick-up trucks, filed for Chapter 11 bankruptcy protection on June 27, 2023. The company, which had previously struggled with production and financial challenges, was forced into this action after its critical partnership and investment deal with Foxconn collapsed. Lordstown has simultaneously sued Foxconn, accusing the Taiwanese manufacturing giant of fraud and failing to fulfill its investment commitments, which the startup claims ultimately destroyed its business. The bankruptcy filing puts the entire company up for sale, marking a dramatic fall for a firm that once aimed to revitalize a former General Motors plant in Ohio.

Tibber, a European energy technology company, announced layoffs of up to 50 employees in June 2023. This represents about 14% of its then 350-person workforce across Norway, Sweden, Finland, Germany, and the Netherlands. The cuts, offered as voluntary severance packages, were a response to a significant loss of 509 million Norwegian kroner the previous year. This financial strain was partly due to volatile electricity prices, which forced the company to invoice customers before delivery, leading to customer dissatisfaction and attrition. The layoffs aim to improve efficiency and focus resources on core areas, with leadership expressing optimism for a return to operational profitability in the latter half of 2023.

Google is implementing layoffs at its Waze mapping service as part of a strategic integration with its own mapping products. The cuts, announced in an internal email on Tuesday, affect roles in sales, marketing, operations, and analytics as Waze transitions its advertising system to use Google Ads instead of a separate platform. While the exact number of layoffs was not specified, the Waze unit employs over 500 people. This move follows Google's broader efforts to streamline operations and improve efficiency, including the consolidation of Waze into its Geo division since late last year. The tech giant, which acquired Waze for about $1.3 billion in 2013, aims to create a more scalable ads product, reflecting ongoing adjustments within the competitive mapping and navigation industry.

Robinhood laid off 150 employees representing approximately 7% of its workforce on 2023-06-26.

Payoneer, an Israeli fintech company with a market cap of around $1.7 billion, is laying off 200 employees, constituting approximately 10% of its total workforce of about 2,000. The layoffs, announced in late June 2023, are part of a strategic shift towards profitable growth amid a challenging macroeconomic climate and lower-than-expected transaction volumes on its platform. The cuts, primarily affecting marketing and service departments, follow the appointment of a new CEO four months prior. Payoneer, which provides cross-border payment solutions for small and medium-sized businesses, went public via a SPAC merger in 2021.

Convoy laid off 30 employees representing approximately 5% of its workforce on 2023-06-26.

Israeli AI recruitment startup Joonko is on the verge of closure following a board investigation that uncovered fraudulent conduct by its CEO, leading to extensive layoffs. The company, which had raised $38 million and employed around 50 people at its peak, is dismissing most of its workforce after it was revealed that reported customer numbers were significantly inflated. The board stated in June 2023 that CEO Ilit Raz engaged in unethical and fraudulent activities, harming the company and its shareholders. This scandal has forced the startup, focused on sourcing underrepresented candidates, into a shock closure, with senior executives already departed and remaining employees facing dismissal.

Southeast Asian ride-hailing and food delivery app operator Grab laid off over 1,100 employees, about 11% of its staff, as part of cost-cutting measures aimed at achieving profitability. The layoffs were announced this week, with the company citing changes in technology, capital markets, and competition as reasons for the move.

IRL representing approximately 100% of its workforce on 2023-06-23.

Business software company Anaplan has initiated significant layoffs, affecting hundreds of employees following its acquisition by private equity firm Thoma Bravo in a $10.4 billion deal last year. According to reports and insider interviews, at least 300 workers are being let go, with some estimates reaching over 500 across U.S. and UK offices, potentially impacting more than 15% of the workforce. The cuts, which include roles like software engineers and security analysts, are part of broader cost-cutting measures under Thoma Bravo, leading to employee concerns over morale and job security. Notices indicate separations will occur from late June through August, with at least 119 layoffs at the San Francisco headquarters alone.

Illumina on 2023-06-21.

Friday Health Plans on 2023-06-21.

Uber laid off 200 employees on 2023-06-21.

In June 2023, Toronto-based food ordering service Ritual laid off 38 employees, representing 40% of its workforce, which had dwindled to about 77 staff. This marked the company's third round of cuts in recent years, as the once-promising startup struggled to recover from pandemic impacts. With revenue stagnating and continued operating losses, Ritual made the difficult decision to restructure, aiming to strengthen its position while supporting restaurants globally. The layoffs reflect broader challenges in the tech sector and the shift away from office-centric ordering habits.

Mutiny representing approximately 30% of its workforce on 2023-06-21.

Karakuki representing approximately 100% of its workforce on 2023-06-20.

Grab laid off 1,000 employees representing approximately 11% of its workforce on 2023-06-20.

Los Angeles-based vacation rental property manager AvantStay has laid off 37 employees, representing less than 10% of its staff. This marks the company's third round of job cuts within the past year, part of an ongoing reorganization strategy aimed at improving operational efficiency and reducing costs. The move reflects broader challenges in the vacation rental management sector, which has faced a market reckoning following the pandemic boom.

In June 2023, OLX Group, the online marketplace and classifieds business of Prosus, laid off approximately 800 employees globally. This workforce reduction was a direct result of the company's strategic decision to exit its automotive business unit, OLX Autos, which was announced earlier in March. After exploring potential buyers or investors, OLX Group proceeded with individual country sales in some markets like Chile, India, Indonesia, and Turkey. However, it was forced to shut down operations entirely in other markets, including Argentina, Mexico, and Colombia, after failing to find suitable buyers. The layoffs affected employees across various markets and divisions, not limited to a single region. Headquartered in Amsterdam and operating in over 30 countries, OLX Group is a major player in the global online classifieds and e-commerce industry.

Indian short-video app Chingari has laid off approximately 48 employees, representing 20% of its roughly 240-person workforce, as part of an organizational restructuring. The layoffs, which occurred on June 19, primarily impacted the tech team across its Mumbai and Bengaluru offices, coming just weeks after a cofounder's departure. Operating in the competitive media and entertainment sector with a blockchain-based model, the startup offered affected staff two months of severance and extended health insurance. This move reflects broader challenges faced by short-video and cryptocurrency platforms, despite Chingari having secured funding earlier in the year for growth and expansion.

Panther, a company in the HR tech industry focused on international hiring and payroll, is winding down its operations entirely as of June 2023. This decision effectively results in a 100% layoff of its team, as the company is shutting down. The announcement, made by CEO Matt Redler, cited the immense challenge of the market and the emergence of well-resourced competitors like Remote, to whom Panther is transitioning its customers. The company's platform will cease payments by July 10, 2023, with the team available to assist with the transition until the end of July. This closure marks the end for the startup, which aimed to streamline global employment.

Fuzzy representing approximately 100% of its workforce on 2023-06-18.

Health tech startup Mojocare laid off approximately 150-170 employees, representing over 80% of its workforce, in June 2023. This drastic reduction occurred within a year of the company raising $20.6 million. The Bengaluru-based startup, which provides personalized wellness products and services, cited unsustainable business fundamentals and a strategic shift toward capital efficiency and profitability as reasons for the cuts. The layoffs left the company with only a small operational team.

Qualcomm laid off 84 employees on 2023-06-16.

Karshare representing approximately 100% of its workforce on 2023-06-16.

Zulily on 2023-06-16.

Electric-truck maker Nikola announced layoffs of 270 employees on June 16, as part of a cost-cutting strategy to sharpen its focus on the North American market. The move affects 150 staff supporting European operations and 120 based at its Phoenix and Coolidge sites, aiming to reduce annual personnel cash spend by $50 million. Amid tough economic conditions and internal disputes with founder Trevor Milton, the company seeks to lower its annual cash usage to under $400 million by 2024. This restructuring reflects broader challenges in the electric vehicle industry, where firms are scrutinizing reserves amid slowing sales.

Bengaluru-based edtech startup FrontRow, backed by Lightspeed, has laid off approximately 90% of its workforce through two rounds of job cuts in May and October of last year, reducing its team from around 350 to just 35 employees. The company, which operates in the non-academic upskilling industry, is now exploring acquisition options amid a challenging funding environment. Co-founder Ishaan Preet Singh cited strategic reassessment of the market's potential as the primary reason, rather than immediate financial runway concerns, stating the startup has about three years of capital left. This downsizing reflects broader struggles in the edtech sector as the company shifts focus to experiments in career learning for adults and offline development for children.

Oracle laid off hundreds of employees within its Cerner health unit on June 15, 2023, as part of ongoing restructuring following its $28 billion acquisition of the health IT giant. The layoffs, which also included rescinded job offers and eliminated open positions, were largely driven by challenges with a massive electronic health records contract for the U.S. Department of Veterans Affairs. After the VA paused the rollout and renegotiated the contract, Cerner faced reduced government-related work, prompting this workforce reduction. The cuts reflect broader integration struggles within Oracle Health, an industry where Cerner is a major player, as Oracle aims to leverage the unit to prove its cloud capabilities globally.

CareRev laid off 100 employees representing approximately 33% of its workforce on 2023-06-15.

In June 2023, Seoul-based ride-hailing platform Tada, a subsidiary of Socar and backed by fintech firm Viva Republica, initiated a restructuring involving layoffs to reduce costs. While the company confirmed a voluntary early retirement program without specifying exact numbers, local media reported the cuts could affect at least 50% of its staff, approximately 45 employees. This move followed the breakdown of merger talks with Jinmobility and came as Viva Republica sought strategic partners to sustain Tada's operations in South Korea's competitive ride-hailing market, dominated by Kakao Mobility. The layoffs reflect ongoing challenges in the transportation tech sector amid consolidation efforts.

Sonos, the wireless speaker company, announced on Wednesday that it is laying off approximately 130 employees, representing about 7% of its workforce. The company, which last reported having 1,844 employees in October 2022, cited ongoing economic headwinds and a recent significant drop in revenue as reasons for the restructuring. CEO Patrick Spence stated that these challenges necessitated difficult decisions, including job cuts and a reevaluation of spending. The layoffs are part of a broader restructuring effort expected to cost between $11 million and $14 million, covering severance and real estate adjustments. This follows a previous 12% workforce reduction in 2020 during the pandemic.

In June 2023, automotive pricing platform TrueCar announced a major restructuring, laying off 102 employees, which represented 24% of its workforce. The move, aimed at aligning costs with revenue to create a nimbler company, coincided with leadership changes, including the appointment of Jantoon Reigersman as the new CEO. The company, which operates in the online automotive marketplace, reported a dip in Q1 revenue and a growing net loss, prompting this strategic shift to achieve long-term financial stability and anticipated growth later in the year.

Synapse, a financial technology company, has announced a difficult workforce reduction impacting approximately 18% of its employees. This decision, communicated by CEO Sankaet Pathak in June 2023, comes despite the company achieving profitability and positive cash flow the previous year. The layoffs are attributed to challenging macroeconomic conditions that have affected client growth, leading the company to restructure and streamline operations in areas staffed for anticipated expansion that did not materialize. The move is intended to enhance efficiency and ensure the company's long-term sustainability, allowing it to continue investing in future growth while adapting to evolving market needs.

IPO-bound D2C beauty unicorn Mamaearth is shutting down two verticals of its acquired platform Momspresso, resulting in layoffs of 80-100 employees. This decision impacts the MyMoney influencer engagement platform and the brand marketing business, which have been loss-making. The move is part of a restructuring effort as Mamaearth prepares for its upcoming initial public offering, aiming to streamline operations and cut costs. The layoffs, which occurred recently, affected roles across tech, content, customer service, marketing, and product. Momspresso, acquired in 2021, continues to operate its core user-generated content platform.

Bitwise Industries, a Fresno-based technology and workforce development company, laid off all 900 of its employees on May 31, 2023, effectively collapsing the entire company. This mass layoff, representing 100% of its workforce, followed temporary furloughs announced just days earlier. The company attributed the action to "unforeseeable business circumstances," signaling a sudden and complete shutdown. Founded in 2013, Bitwise had raised over $150 million and expanded into multiple cities, including Bakersfield, where it had acquired properties and a local business. The collapse left significant questions about the future of its operations and community contracts.

Restaurant technology company Olo is laying off 81 employees, representing 11% of its workforce, as part of a restructuring announced in late June 2024. The New York-based firm, which provides digital ordering and payment systems for major restaurant chains, is streamlining its operations to reduce complexity following its 2021 acquisition of Wisely and the launch of its Olo Pay product. The reorganization consolidates business units into three core segments: Order, Pay, and Engage. CEO Noah Glass described the move as a strategic evolution to focus on growth areas, particularly payments, and not a reflection on team performance. Affected employees will receive severance packages, and the company is simultaneously hiring a new chief operating officer with payments expertise to lead its product and engineering teams. This comes amid a trend of job cuts in the restaurant and tech sectors, even as Olo continues to report revenue growth despite net losses and a declining stock price since its 2021 IPO.

JupiterOne laid off 8 employees on 2023-06-13.

In June 2023, German online fashion retailer Zalando provided further details on its planned job cuts, which were initially announced in February. The company is eliminating several hundred positions, primarily within administrative functions, as part of a broader restructuring effort to streamline operations and improve efficiency. As a major player in the e-commerce industry, Zalando is implementing a voluntary severance program to manage the reduction, which affects a notable portion of its workforce, though specific figures on total employees and exact percentages were not fully disclosed in this update.

Western Digital laid off 211 employees on 2023-06-13.

Chegg laid off 80 employees representing approximately 4% of its workforce on 2023-06-12.

UK fintech unicorn GoCardless laid off approximately 135 employees, representing 15% of its global workforce, in June 2023. The company, valued at $2.1 billion and employing around 800 people after the cuts, made this decision to prioritize profitability and reduce costs amid a challenging economic environment and a funding drought. CEO Hiroki Takeuchi stated the move focuses the business on core areas while scaling back longer-term investments. The layoffs affected roles in the UK, US, Australia, and New Zealand, and the senior leadership team was also reduced by about 25%. This aligns with a broader trend of job cuts in the fintech sector as companies adjust to market pressures.

Grubhub, the food delivery platform, laid off approximately 400 corporate employees, representing 15% of its corporate workforce, as announced by CEO Howard Migdal in a message to employees. The company cited the need to maintain competitiveness in a market where it has struggled to gain share against rivals like DoorDash and Uber Eats. The layoffs occurred in early 2024, with affected employees offered a minimum of 16 weeks of severance. Grubhub, acquired by Dutch multinational Just Eat Takeaway.com in 2021, operates in the competitive food delivery industry and has faced ongoing challenges since the acquisition, including exploration of a potential sale.

Tiki, a Singapore-headquartered short-form video app popular in India, is shutting down its operations on June 27, 2023, effectively laying off its entire workforce. The company, which had about 35 million monthly active users in its sole market of India, cited the challenging tech industry environment and rapid consolidation in India's short video sector following the ban on TikTok. As a small startup, Tiki failed to sustain its position despite initially capitalizing on the market void. The closure reflects the broader struggles of many ventures that attempted to fill the gap left by banned Chinese apps in the Indian market.

TaxBit laid off 80 employees representing approximately 40% of its workforce on 2023-06-11.

23andMe laid off 75 employees representing approximately 9% of its workforce on 2023-06-09.