Layoff Events

Chilean healthtech startup Examedi laid off approximately 45 employees, comprising 30 in Chile and 15 in Mexico, which represents about 25% of its workforce in those markets. The layoffs, announced in April 2023, were part of a restructuring aimed at improving business efficiency and achieving profitability, according to co-founder and CEO Ian Lee. The company, which had raised a $17 million Series A round in June 2022, stated the cuts would not affect its short-term plans in either country. This move reflects the broader challenging environment for startups, prompting adjustments to ensure sustainability.

Reforge, a company in the professional education and tech industry, has undergone a strategic shift leading to layoffs across multiple departments including engineering, product, marketing, recruiting, operations, accounting, and content development. The decision, announced by CEO Brian Balfour, was made to realign the company's focus toward delivering enhanced knowledge and support from industry leaders to its members. While the exact number of employees affected and the percentage of the workforce were not disclosed, the layoffs occurred as part of this broader restructuring. Balfour emphasized that the current cohort of programs would remain unaffected and committed to providing references and assistance to the departing team members.

Nori laid off 10 employees representing approximately 37% of its workforce on 2023-04-10.

Flock Freight laid off 45 employees representing approximately 8% of its workforce on 2023-04-10.

In April 2023, the buy-now-pay-later fintech startup Simpl laid off over 150 employees, which constituted more than 25% of its workforce. The Bengaluru-based company, which had raised $83 million in funding, undertook this significant cost-cutting measure to extend its financial runway and become a leaner organization amidst challenging economic conditions. The layoffs, communicated via email and a virtual town hall by the CEO, affected staff across various departments. This move followed a period of rapid growth and mounting losses, reflecting broader pressures within the BNPL industry.

Practo, a healthtech startup with over 1,600 employees, has laid off 41 staff members, representing a small percentage of its workforce, as part of its ongoing performance management process. The company stated the decision was based on performance issues and not a broader restructuring, emphasizing its commitment to supporting affected employees. Despite the layoffs, Practo reported record-high revenues, margins, and profits, and plans to hire 500 new employees in the coming year. This move aligns with a trend of retrenchments in the Indian healthtech sector, where several startups have conducted layoffs amid funding challenges and performance evaluations.

Pear Therapeutics, a pioneering digital therapeutics company, has filed for Chapter 11 bankruptcy and is terminating 170 employees, representing about 92% of its workforce. The Boston-based firm, which went public in 2021, will continue operating with a skeleton crew of 15 employees as it seeks a buyer for its assets. This drastic move follows the company's struggle to build a sustainable business model for its software-based treatments, having previously conducted layoffs and paused pipeline development in 2022 after failing to secure necessary funding.

Workit Health laid off 100 employees on 2023-04-07.

ZestMoney, a Goldman Sachs-backed buy-now-pay-later (BNPL) fintech platform with around 450 employees, is planning significant layoffs across departments following the collapse of its acquisition deal with Walmart-backed PhonePe. The deal fell through in late March 2023, leaving the company in financial distress and forcing it to adopt a survival plan that includes workforce reductions. While the exact number of employees to be laid off is not yet specified, the founders have actively sought outplacement assistance for the impacted staff. The layoffs are a direct consequence of the failed acquisition, which has created an immediate liquidity crisis for the company.

Berlin-based electric cargo bike sharing startup Avocargo has ceased operations and laid off all 16 remaining employees after failing to find a buyer following its February 2023 insolvency filing. The company, which had offered app-based rentals, attributed its collapse to a failed funding round and a difficult market environment for mobility startups, with investors wary of the sharing economy's high losses. Founded a few years prior, Avocargo initially benefited from pandemic-driven demand and political interest in cargo bikes but ultimately could not achieve profitability. The service was officially discontinued on April 3, 2023.

Absolute Software, a cybersecurity firm specializing in self-healing security solutions, implemented a restructuring plan on April 4, 2023, to reduce operating expenses. The company laid off approximately 40 employees, representing about 5% of its total workforce, and plans to reduce office space. This move is expected to incur non-recurring charges between $1.8 million and $2.8 million, primarily for severance and facility-related costs, with most actions to be completed by the end of its fiscal 2023 fourth quarter.

Amplitude, a product analytics software company, announced on April 5, 2023, that it is laying off 13% of its global workforce, affecting 99 employees. The layoffs primarily impact the go-to-market organization, with additional cuts in product development, finance, and HR. The decision, attributed to macroeconomic challenges and a need to achieve profitability, was communicated by the co-founders. Affected U.S. employees' last day was April 5, while those in EMEA and APJ regions depart on April 6. The company is offering severance, extended healthcare, career support, and other benefits to assist with the transition.

Dunzo, a Reliance Retail-backed quick commerce startup, has laid off approximately 30% of its workforce, affecting around 300 employees, as part of a restructuring effort to conserve cash and move toward profitability. This significant reduction follows a previous round of job cuts earlier in the year. Concurrently, the company has secured $75 million in funding through convertible notes, with major contributions from Reliance Retail and Google. The layoffs and funding are part of a broader shift in Dunzo's business model, reflecting the challenges faced by startups that expanded rapidly during periods of easy capital. The news emerged in recent reports, highlighting the ongoing adjustments in India's competitive quick commerce industry.

On April 4, 2023, Boost, a fintech/insurtech startup, announced a difficult layoff affecting 15 employees, representing about 20% of its team. CEO Alex Maffeo cited a dramatic shift in the macroeconomic landscape and technology market, which has particularly impacted the fintech sector, forcing the company to adapt its growth and budgeting approach for long-term success. Despite the company's history of strong execution and hyper-growth over the previous two years, the extreme market conditions necessitated this reduction. Boost is providing severance, extended benefits, and career support to the departing employees.

Auckland-based e-commerce software company Cin7 is laying off approximately 15% of its workforce, affecting around 45 employees out of a total of just under 300. The consultation process is concluding this week. The layoffs reflect a post-pandemic adjustment, as the company acknowledges that the explosive e-commerce growth during COVID-19 lockdowns has normalized to pre-pandemic levels amid broader economic turbulence. Founded in 2011 and owned by US private equity firm Rubicon Technology Partners since 2019, Cin7 provides inventory management solutions for businesses selling on platforms like Amazon. The company had expanded rapidly through acquisitions and hiring during the pandemic boom but is now restructuring in response to shifting market conditions and a slowdown in the sector.

Foundation Medicine laid off 135 employees on 2023-04-04.

Australian financial comparison website Finder has laid off approximately 40 employees in its second round of redundancies within three months, following an earlier cut of about 15% of its 500-strong workforce in February. This latest restructuring, aimed at simplifying operations and focusing more resources on the Australian market, reflects the ongoing downturn in the technology industry, exacerbated by Finder's troubled cryptocurrency ventures. The layoffs, confirmed in late March 2023, highlight broader challenges in the sector, where companies like Mr Yum are also implementing repeated job cuts to extend cash reserves amid difficult fundraising conditions.

In April 2023, Indian kirana tech startup 1K Kirana laid off a significant portion of its workforce as part of a major business restructuring. While the company officially stated it let go of 40% of employees, sources indicated the cuts were much deeper, affecting over 600 people—approximately 60-70% of a workforce that had been over 1,000 following a 2022 funding round. This left the company with only about 200 employees. The layoffs, which began in November 2022 and continued through March 2023, impacted teams across on-ground operations, warehouse, delivery, network operations, growth, and tech. The restructuring was driven by changed growth forecasts, a withdrawal from several geographies, and difficulties in raising fresh funding as investors shifted focus toward profitability.

On April 3, 2023, San Francisco-based fintech startup Guideline, a provider of 401(k) plans for small and medium-sized businesses, laid off 48 employees, which constitutes 11.5% of its workforce. The company, which had experienced rapid growth and raised significant funding, did not officially announce the layoffs or provide a reason, leading to speculation about financial challenges or a strategic shift. Despite its previous expansion and employee-friendly reputation, this move indicates potential operational streamlining or difficulties in the competitive startup landscape.

View Inc., a SoftBank-backed smart glass manufacturer, laid off approximately 170 employees, representing about 23% of its workforce, as part of drastic cost-cutting measures. The Silicon Valley startup, which went public via SPAC in 2020, is facing severe financial distress, having lost hundreds of millions in recent years and warning it lacks funds to cover upcoming obligations. Struggling with massive losses and a stock price below $1, the company is also at risk of Nasdaq delisting. These layoffs, reported in early April 2023, aim to extend its financial runway while it seeks additional funding to survive.

Hyland Software laid off 1,000 employees representing approximately 20% of its workforce on 2023-04-03.

Apple on 2023-04-03.

Textio laid off 15 employees representing approximately 12% of its workforce on 2023-04-03.

Domestika, the U.S.-based online learning platform, is planning to lay off 89 employees in Spain, affecting 45% of the 198-person workforce at its Madrid subsidiary Dmstk SL. The company cites economic, organizational, and production reasons, including the impact of macroeconomic conditions and automation through AI tools like ChatGPT. Notably, 22 translation roles and 9 marketing content positions are being cut due to automation, with only a few remaining staff to oversee AI-generated output. The layoffs, part of an ongoing negotiation process, follow around 100 dismissals by the company in Spain last year. Despite raising over $100 million in 2022 and reporting global revenue of approximately $60 million, Domestika continues to streamline operations in response to technological shifts and sector-wide pressures.

Indian blue-collar jobs platform GoodWorker, backed by Temasek, has laid off nearly 90% of its staff in a significant restructuring move reported in March 2023. The drastic cuts reflect broader challenges in the tech and employment platform sector, as the company scales down operations amid market pressures. While the exact number of employees affected wasn't specified, the percentage indicates a major reduction for the startup, which operates in India's competitive gig economy and workforce solutions industry.

Endowus, a Singapore-based digital wealth management platform, has conducted a round of layoffs affecting an unspecified number of employees. The company, which operates in the competitive fintech industry, cited a strategic restructuring to enhance operational efficiency and focus on long-term sustainability amid broader market challenges. While exact figures regarding the total workforce and the percentage impacted were not disclosed, the move reflects ongoing adjustments within the tech and financial sectors as firms navigate economic uncertainties. The layoffs were implemented recently as part of the company's efforts to streamline its operations and prioritize core business areas.

Roku laid off 200 employees representing approximately 6% of its workforce on 2023-03-30.

Loop laid off 19 employees representing approximately 25% of its workforce on 2023-03-30.

Crossbeam, a venture-backed SaaS company specializing in data-driven partnerships, laid off 17 employees this week, representing about 15% of its staff and reducing its total headcount to approximately 100. Founded in 2019 and headquartered in Center City, the company cited a challenging 2023 market as the reason, noting that the investment climate has shifted significantly since its $76 million Series C raise in 2021. Despite growing revenue over 100% in the past year, Crossbeam restructured to align with current economic realities, primarily affecting engineering and marketing teams. The company continues to hire in areas like product design and account management, maintaining its focus on its core mission in the tech industry.

Kyndryl on 2023-03-30.

FanClash, a Delhi NCR-based fantasy esports startup backed by Sequoia, Polygon, and Info Edge, has laid off approximately 100 employees, representing about 75% of its workforce, in three rounds this year. The primary reason for these significant layoffs is the Indian government's ban on the popular battle royale game BGMI in July last year, which had been a major revenue driver, especially among users from Tier-2 cities. This disruption forced the company to restructure, deprioritize non-core streams like the fantasy Web3 platform FanGuild and fan engagement platform FanSpace, and pivot its business model. The layoffs occurred during a period of low esports tournament activity, further impacting daily active users. Affected employees received a two-month salary as severance.

Edtech unicorn Unacademy has laid off 12% of its workforce in its fourth round of job cuts within a year, as the company intensifies its push toward profitability amid a tough funding climate and a global economic slowdown. CEO Gaurav Munjal announced the decision via Slack, citing the need to operate in a "much leaner manner." Including this latest reduction, the total number of employees let go across Unacademy's group companies now exceeds 1,900. The impacted employees will receive severance pay equivalent to their notice period plus an additional month's salary. The Indian edtech sector has faced significant challenges since offline educational institutions resumed operations post-pandemic, with Unacademy reporting a consolidated loss of INR 2,848 crore in FY22 despite revenue growth.

Nowports, a Uruguayan-founded logistics technology unicorn, laid off approximately 15% of its workforce in March 2023 as part of a broader wave of tech sector cutbacks. While the company did not disclose the exact number of employees affected, it framed the layoffs as a move to increase efficiency and maintain high performance standards, asserting that its financial position remains strong. Nowports, which provides digital freight forwarding and supply chain solutions, experienced rapid growth following a $150 million Series C funding round in 2022. The layoffs reflect the challenging environment for tech companies at the time, even as the firm continued operations across all its markets.

LendingTree, a leading online lending marketplace in the financial technology industry, has not announced any recent layoff events. The provided content indicates a geographic access restriction to their website, not corporate restructuring news. For accurate and current information regarding LendingTree's workforce, please refer to official company communications or verified news sources from within the United States.

Hulu laid off 200 employees on 2023-03-30.

AnswerLab, a user experience (UX) research firm, has conducted its first layoff in its 18-year history, eliminating 17% of its positions due to economic pressures from clients. The restructuring, announced by CEO Amy Buckner Chowdhry, resulted in a number of employees being let go, though the exact number of affected individuals was not specified. The company, which operates in the technology and professional services industry, emphasized its continued commitment to its mission and clients, noting plans to develop new enterprise research products this year. The layoffs reflect broader challenges in the sector, as echoed by similar restructuring at other firms like IVP Research Labs.

Spotify laid off 15 employees on 2023-03-30.

Nigerian fintech startup OnePipe has laid off an undisclosed number of employees, described as a "handful," as part of measures to extend its runway. This follows the company securing a $4.8 million credit facility from TLG Capital in 2024, aimed at providing inventory finance to small shops in Nigeria's informal sector. The layoffs, coupled with pay cuts for the executive team, come despite the new funding and the company's mission to aggregate financial APIs for seamless partnerships. OnePipe, which employs around 50 people, continues to focus on scaling its services to support micro-enterprises.

CoverMyMeds laid off 800 employees on 2023-03-29.

Anyline representing approximately 25% of its workforce on 2023-03-29.

Mammography AI company iCAD laid off 23 employees, representing 28% of its workforce, in a restructuring announced in late March 2023. The Nashua, N.H.-based medtech firm, which specializes in breast cancer detection and risk evaluation tools, made the cuts to reduce operating expenses following a 17% decline in quarterly revenue and a net loss. The layoffs, primarily in the cancer detection unit, coincided with leadership changes, including the appointment of a new CEO, and a strategic shift to focus solely on its AI detection business while exploring alternatives for its radiation therapy subsidiary. The company cited challenging industry and macroeconomic conditions as reasons for the reset.

Online used-car marketplace Shift Technologies laid off approximately 30% of its workforce in the first quarter of 2023. The cuts followed its December 2022 merger with CarLotz, as the company sought to reduce costs, eliminate duplicate roles, and restructure its sales organization. This downsizing occurred amid a sharp revenue decline and expanding operating losses, prompting strategic moves to exit some East Coast markets and focus on core West Coast operations. The layoffs were part of a broader effort to rightsize the company's expenses after the challenging integration.

Drizly laid off 100 employees on 2023-03-29.

Seagate laid off 480 employees on 2023-03-29.

Electronic Arts laid off 780 employees representing approximately 6% of its workforce on 2023-03-29.

Blue Nile, the direct-to-consumer diamond retailer owned by Signet Jewelers, is laying off 119 employees in Seattle as it permanently closes its local fulfillment center. The layoffs, effective from July 14, 2023, are part of the post-acquisition integration process to centralize fulfillment services at Signet's existing center in New York City, eliminating duplicate operations. While the exact percentage of Blue Nile's workforce affected isn't specified, the company is offering outplacement support and relocation packages to some impacted employees. This restructuring occurs as Signet navigates a challenging retail environment, with recent quarterly sales declines, aiming to streamline operations and leverage economies of scale within the jewelry industry.

On March 28, 2023, lidar technology company AEye, Inc. announced a significant restructuring, reducing its workforce by approximately one-third. This layoff, effective April 3, 2023, is part of a revised strategic plan aimed at focusing the company on key products and critical customer engagements to improve long-term results. The decision, preluded in a March 15 earnings call, reflects broader challenges within the automotive and tech industries as companies streamline operations. Based in Dublin, California, AEye is a publicly traded firm on the Nasdaq, operating in the competitive lidar sensor industry for autonomous vehicles and advanced driver-assistance systems.

Lucid Motors, the U.S.-based luxury electric vehicle manufacturer, announced on March 28, 2023, that it is laying off 1,300 employees, representing 18% of its workforce, as part of a major restructuring effort. The layoffs, which will affect positions across the organization including executives, are set to be completed by the end of the second quarter. CEO Peter Rawlinson cited evolving business needs, productivity improvements, and cost-reduction initiatives as reasons for the move, which follows the company's lowered production targets and disappointing earnings. Lucid expects to incur $24 million to $30 million in related charges and aims to strengthen its long-term resilience while still planning to launch its Gravity SUV in 2024.

Rackspace laid off 275 employees on 2023-03-27.

Disney reportedly eliminates its metaverse division in the first round of layoffs, as part of restructuring efforts.