Layoff Events

Cybersecurity company Expel laid off 60 employees, representing approximately 10% of its workforce, in June 2023. The decision was attributed to shifting market conditions, aligning with similar actions taken by other firms in the technology and security industry. Despite the layoffs, the company emphasized its continued growth and strong market position, assuring that service delivery capabilities remain unaffected. Departing employees in the U.S. were offered a minimum of two months of severance pay and extended healthcare benefits, with similar support provided internationally, alongside career transition assistance.

Brazilian edtech startup Trybe laid off 128 employees on Tuesday, June 6, 2023, which represents 35% of its workforce. This is the company's second round of cuts in less than a year, following a previous dismissal of 47 people in August 2022. The company stated the layoffs were necessary to achieve its long-term goals and reach financial breakeven within the next 180 days. Operating in the education technology sector, Trybe, which was valued at R$1.3 billion in a 2021 funding round, offers programming courses with a "success-shared" payment model. The layoffs are part of a broader trend dubbed the "startup winter," where companies are adjusting their strategies amid a tougher investment climate.

In June 2023, Nasdaq-listed SaaS company Freshworks conducted its third round of layoffs, affecting product, engineering, and go-to-market teams at its US site, citing performance assessments. This follows earlier cuts of about 90 employees (2% of its workforce) in December 2022 and around 114 in March 2023. With a global workforce of approximately 5,000, the company is implementing these cost-cutting measures to navigate macroeconomic pressures and slowing demand growth. The broader SaaS industry, including many startups that overestimated post-pandemic market expansion, is facing similar challenges, leading to widespread workforce reductions to ensure survival.

Israeli cybersecurity startup Opora Technologies, founded by former Shin Bet director Yuval Diskin, has laid off most of its staff and is nearing a complete shutdown. The company, which employed over 20 people at its peak, has significantly reduced its workforce after its core technology failed to mature into a viable commercial product despite initial customer interest. Facing a challenging global market, Opora is now negotiating to sell its intellectual property. The startup, established in 2020 and spun out from Diskin's earlier venture, had raised approximately $10 million in funding, including a $7 million seed round led by Jerusalem Venture Partners. The layoffs and impending closure were reported in June 2023.

Highspot laid off 140 employees representing approximately 15% of its workforce on 2023-06-08.

Branch laid off 186 employees on 2023-06-08.

Cohesity, a data management and protection startup in the enterprise storage industry, has conducted a workforce optimization, resulting in layoffs that include Chief Marketing Officer Lynn Lucas. While the exact number of employees affected was not disclosed, the privately held company had approximately 2,289 staff as of April 2023. The decision, announced in June 2023, aims to increase investment flexibility in strategic customer areas and achieve cash flow positivity by fiscal year 2024. Cohesity, which has raised $660 million in funding and was valued at $2.5 billion in 2020, is providing support and potential redeployment for impacted employees while continuing to recruit in key areas.

Cityblock Health laid off 155 employees representing approximately 12% of its workforce on 2023-06-08.

HashiCorp representing approximately 8% of its workforce on 2023-06-07.

Indian edtech giant Byju's is laying off approximately 1,000 employees as part of a restructuring effort. This significant workforce reduction, announced in early June 2023, comes amidst severe financial and legal pressures. The move follows directly after the company filed a complaint in a New York court, challenging the acceleration of a $1.2 billion term loan it had raised in 2021. These layoffs reflect the broader challenges within the once high-flying edtech industry as companies like Byju's, a major player in the sector, grapple with cash flow issues and investor disputes while scaling back operations.

Based on available information, Sumo Logic, a cloud-native SaaS analytics platform in the cybersecurity and observability industry, conducted a workforce reduction in early 2023. The layoff affected approximately 80 employees, which represented about 7% of its total workforce at the time. This decision was part of a broader restructuring effort aimed at improving operational efficiency and extending the company's financial runway amidst challenging market conditions. The move aligned with similar cost-cutting measures seen across the tech sector during that period.

Flatiron Health laid off 39 employees on 2023-06-07.

In June 2023, rocket engine manufacturer Ursa Major conducted layoffs affecting approximately 80 employees, which represented over a quarter of its workforce. The Colorado-based space industry startup, which had around 292 employees listed on LinkedIn at the time, cited budgetary constraints as the reason for the job cuts. The layoffs impacted key roles, including engineers in propulsion and quality analysis, amid broader market headwinds affecting the technology and aerospace sectors. Despite the workforce reduction, Ursa Major was actively developing several engines, such as the Hadley and Ripley, and had recently secured significant contracts for new engine development, including the Draper and Arroway models.

Nubank laid off 296 employees on 2023-06-07.

Dragos laid off 50 employees representing approximately 9% of its workforce on 2023-06-06.

Reddit laid off 90 employees representing approximately 5% of its workforce on 2023-06-06.

Web3 startup Mara conducted a second round of layoffs in May 2023, primarily dismissing its marketing department, affecting around six employees. This follows a previous layoff in December 2022 that cut 50% of its staff, which the company attributed to cost reduction and restructuring, not financial troubles or the FTX collapse. Mara, an African-focused crypto startup that raised $23 million in 2022, is shifting its focus from user acquisition to serving existing users and developing new projects to drive crypto adoption on the continent. Despite the layoffs, the company continues to hire in areas like engineering.

Linktree, the link-in-bio startup, has laid off approximately 27% of its workforce, primarily affecting employees in Australia and New Zealand. This reduction impacts around 60 jobs from a total of about 224 employees. The decision, announced in June 2023, is part of a strategic shift to focus on the U.S. market, which is the company's largest and fastest-growing segment. As a result, roles in product, engineering, marketing, and design are being relocated from Australia to the U.S. This follows a previous layoff in August 2022, when Linktree cut 17% of its global staff. The company, which operates in the social media technology industry, has been profitable since its 2016 launch and had raised significant venture capital prior to these cuts.

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

Coherent, a global leader in materials, networking, and lasers, laid off 196 employees at its Fremont, California facility in June 2023. This location houses its subsidiary Finisar, which manufactures optical communications components. The layoffs were part of a broader restructuring due to shifting business needs, contributing to a total of over 304 job cuts announced by the company in the Bay Area in 2023. These reductions occurred within the wider tech industry downturn, which saw tens of thousands of layoffs across the region throughout 2022 and into 2023.

Edgio laid off 134 employees representing approximately 12% of its workforce on 2023-06-06.

Flyhomes on 2023-06-05.

Spotify announced layoffs on Monday, cutting 200 employees which represents about 2% of its workforce. This reduction is part of a strategic pivot within its podcasting unit, shifting from a uniform approach to a more tailored partnership model to better support creators. The company, a major player in the audio streaming industry, has invested heavily in podcasting through acquisitions and high-profile deals in recent years. Affected employees will receive severance packages as the changes take effect.

Azibo, a fintech startup, recently conducted a layoff as part of a reduction in force to move the business forward, a decision not made lightly. The impacted roles spanned product design, product management, data analytics, software development, and customer service. While the exact number of employees laid off and the percentage affected were not disclosed, the company's leadership expressed a commitment to helping these talented individuals find new opportunities quickly, sharing a list of those who opted in for networking and job referrals. This move reflects broader challenges in the tech industry, where many companies are adjusting their workforce to navigate economic pressures and strategic shifts.

Meati Foods, a fungi-based alternative meat startup, laid off 17 employees, representing 5% of its workforce, this week. The company, which recently opened a large production facility in Thornton, Colorado, stated the layoffs were part of strategic resource reallocation to support scalability and future growth, not due to weak demand. This move follows broader industry challenges, as U.S. retail sales of meat alternatives have declined. Despite the cuts, Meati emphasized strong commercial relationships and plans for national expansion, remaining optimistic about capturing a significant share of the growing market. The layoffs occurred in the context of similar reductions at competitors like Impossible Foods and Beyond Meat.

Staffbase, a Chemnitz-based unicorn startup specializing in employee communication software, laid off approximately 90 employees in early June 2023. The company, which had around 600 employees prior to the cuts, reduced its workforce by about 15% as part of a restructuring effort to streamline operations and reduce complexity. This move reflects broader challenges in the tech industry, where startups face increasing investor caution due to economic pressures like inflation and geopolitical tensions. Staffbase, valued at over $1 billion after a major funding round just a year earlier, cited the consolidation of product development to its Berlin and Saxony offices, while closing other locations, as key reasons for the layoffs. The reductions particularly affected staff from recently acquired subsidiaries, as the company adjusted its post-expansion strategy.

ZoomInfo laid off 120 employees representing approximately 3% of its workforce on 2023-06-02.

Zume representing approximately 100% of its workforce on 2023-06-02.

Fractal Software, a New York-based venture studio, has laid off at least 28 employees, representing about 25% of its staff, as it shifts its strategy away from creating new startups. The layoffs, which began in December and affect recruiters and research analysts, are part of a broader move to focus resources on supporting its existing portfolio of around 130 companies. This strategic pivot comes amid a challenging market downturn that has made fundraising difficult for startups. The company confirmed the layoffs and noted that affected employees will stay on until September 1, while it continues to hire for a few final startup launches before fully transitioning to portfolio support.

CloudTrucks on 2023-06-01.

In June 2023, Berlin-based digital coaching platform CoachHub laid off approximately 10% of its global workforce. This marked the second round of layoffs within just a few months, following a similar reduction in January. The company, which had around 850 employees globally after a major €200 million funding round in mid-2022, cited the need for a leaner organizational structure to ensure sustainable business development and move toward profitability. The decision was driven by challenging economic conditions, including rising interest rates, high inflation, and difficult financial markets in Europe and the U.S., which forced the startup to lower its 2023 revenue forecast and implement cost-saving measures. Concurrently, leadership changes were announced, with Matti Niebelschütz becoming sole CEO. Operating in the corporate training and HR tech industry, CoachHub is considered a high-growth startup and a potential future unicorn.

Outbrain, an Israeli-founded internet recommendation platform, laid off approximately 90 employees, representing 10% of its global workforce, in June 2023. This marked the company's second round of layoffs within a year, following a reduction of 38 staff in July 2022. The decision was driven by challenging macroeconomic conditions that weakened advertising demand, impacting revenue. In Q1 2023, Outbrain reported a 9% year-over-year revenue decline to $231.8 million and a net loss of $5.6 million. The company, which went public in 2021, has seen its market valuation drop significantly amid industry-wide pressures.

The provided content appears to be corrupted PDF data or binary code, not readable article text. Therefore, no specific layoff information for SentinelOne can be extracted from this content. To summarize a layoff event, I would need the actual news article text detailing the number of employees affected, the context, date, and other relevant details.

In June 2023, healthtech startup Glamyo Health, based in Delhi NCR, conducted significant layoffs as part of a broader cost-cutting effort amid challenging market conditions and a funding winter. According to reports and a police complaint filed by an employee, the company let go of around 50 employees over two months, with a sudden wave of terminations occurring just days prior without prior notice, severance clarity, or settled salaries. Allegations surfaced that the founders intended to leave India after shutting operations, though these were later contested. The layoffs impacted various roles, including doctors and medical coordinators. Glamyo Health, which provides elective surgery coordination and last raised $3 million in 2021, joins numerous Indian startups facing workforce reductions due to adverse economic pressures.

Haven Technologies laid off 280 employees representing approximately 70% of its workforce on 2023-06-01.

Away laid off 22 employees representing approximately 8% of its workforce on 2023-05-31.

ZipRecruiter laid off 270 employees representing approximately 20% of its workforce on 2023-05-31.

Berlin-based real estate startup McMakler has laid off 60 employees, representing about 8% of its workforce, as it faces what its CEO calls the worst property crisis in 50 years. This marks the third round of layoffs in less than a year for the company, following over 200 job cuts in 2022. The firm, founded in 2015, cites a severe downturn in the housing market, with rising interest rates and construction costs slashing demand and transactions. CEO Felix Jahn notes a 23-25% drop in homes sold via its platform in early 2023 and expects revenue to fall significantly this year, though he still aims for monthly profitability in the second half.

Vendr laid off 100 employees representing approximately 25% of its workforce on 2023-05-31.

Zendesk, a customer service software company, announced a workforce reduction of 8% on May 31, 2023. CEO Tom Eggemeier explained the layoffs were necessary because the company's hiring from 2020 to 2022 had outpaced its business realities, and anticipated improvements in macroeconomic conditions had not materialized. The decision, described as very difficult, impacts employees globally, with severance packages including salary continuation, career support, and benefits. While the exact number of affected employees was not specified, the 8% cut reflects broader industry trends in the tech sector as companies adjust to economic pressures.

Coupa Software, a business spend management company, is implementing layoffs as part of a "company reset strategy" announced on May 30, 2023. While the exact number of employees affected was not disclosed, the cuts are aimed at creating a leaner organizational structure by reducing duplication of roles and layers of management. Interim CEO Charles Goodman cited a shifting macroeconomic environment that demands a balance between growth and profitability, rather than the company's recent acquisition by private equity firm Thoma Bravo, as the driving force behind the restructuring. This move follows Coupa's transition to a privately held entity after its $8 billion acquisition earlier in the year.

PacketFabric, a leading Network-as-a-Service provider, recently underwent layoffs to strengthen its business and maintain its cost structure, ensuring continued growth and support for its customers. While the exact number of employees affected was not disclosed, the company acknowledged parting ways with many cherished staff members. These changes are part of broader organizational adjustments aimed at sustaining innovation and service quality in the competitive tech industry. PacketFabric emphasized that customer services remain unaffected and reiterated its commitment to delivering unparalleled network connectivity.

German fintech startup Taxfix, valued at $1 billion, has laid off 120 employees, representing 20% of its workforce, as part of a restructuring effort to cut costs amid a challenging funding environment. The layoffs were announced on May 30, 2023, following the company's recent acquisition of rival tax chatbot Steuerbot, which created synergies and increased operational efficiencies. This move reflects broader pressures on startups to conserve cash and pursue profitability in a tightened market.

Mensa Brands, an e-commerce house of brands unicorn, has laid off approximately 30 employees from India Lifestyle Network (ILN), a content platform it acquired in December 2023. This restructuring, aimed at enhancing efficiency post-integration, affected less than 30 team members, contrary to earlier reports suggesting 200 layoffs. The company, which employs over 700 people, stated that impacted individuals received up to three months' salary, extended health insurance, and job search support. The layoffs reflect efforts to streamline operations following the acquisition, as Mensa focuses on scaling digital-first brands despite reporting a net loss in FY22.

Nansen, a blockchain analytics platform, laid off approximately 30% of its workforce in early 2023, affecting around 30 employees out of a total of roughly 100. The cuts were part of a broader restructuring effort to streamline operations and extend the company's financial runway amid challenging market conditions in the cryptocurrency industry. As a mid-sized startup, Nansen cited the need to adapt to the ongoing crypto winter and focus on core business priorities to ensure long-term sustainability.

Vacation rental property manager Evolve is laying off 164 employees, representing 14 percent of its workforce. The company's CEO, Brian Egan, cited a challenging market environment where supply growth has significantly outpaced demand, leading to increased volatility. This reduction is part of Evolve's efforts to navigate the dynamic conditions within the travel industry.

Project44 laid off 130 employees representing approximately 10% of its workforce on 2023-05-26.

DHI Group laid off 53 employees representing approximately 10% of its workforce on 2023-05-26.

In May 2023, Hamburg-based food delivery startup Circus Kitchens laid off 35 employees, representing about 25% of its headquarters staff. The layoffs included 18 headquarters roles and 17 operational positions. The company cited restructuring due to temporarily suspending service in one of its three Hamburg delivery zones and shifting focus toward offering pickup options, which required kitchen adjustments. Additionally, Circus pointed to the uncertain economic climate within the startup ecosystem and a strategic push for operational efficiency and profitability as reasons for the headquarters cuts. Despite rumors, the company denied financial issues, noting it secured €11 million in seed funding in late 2022. Founded in 2021 by Nikolas Bullwinkel, a co-founder of Flink, Circus operates in the competitive food delivery industry.

Prosus-backed virtual events platform Airmeet has laid off approximately 30% of its workforce, affecting at least 75 employees out of a total of 250-300 staff. The layoffs, which occurred earlier this week, impacted teams across sales, marketing, technology, and operations in India, the US, and Europe. CEO Lalit Mangal cited reduced marketing budgets and rapid commoditization in the virtual event industry as key reasons, stating that current execution was not yielding the needed financial outcomes. The Bengaluru-headquartered startup, which raised $35 million in Series B funding over a year ago, aims to extend its cash runway and improve operational efficiency amid a broader funding winter affecting Indian startups.