Layoff Events

LinkedIn on 2023-02-13.

The provided content appears to be a list of cryptocurrency prices and does not contain any information about layoffs at Magic Eden. Therefore, it is not possible to summarize a layoff event from this data. To create a summary, details such as the number of employees affected, the reason for the layoffs, and the date of the event would be required.

Moladin laid off 360 employees representing approximately 11% of its workforce on 2023-02-12.

Rigetti Computing representing approximately 28% of its workforce on 2023-02-10.

Syft Technologies laid off 30 employees representing approximately 20% of its workforce on 2023-02-10.

Titan Medical laid off 48 employees representing approximately 72% of its workforce on 2023-02-10.

TripleLift, an advertising technology company, laid off over 100 employees, representing one-fifth of its workforce, on February 9, 2023. The cuts, affecting only U.S. and Canadian staff, were a course-correction due to lower-than-expected growth amid economic challenges like inflation and reduced ad spending. CEO Dave Clark cited a failure to adapt quickly to a shifting market. Following the layoffs, the company's headcount returns to roughly its level after acquiring 1plusX. This marks TripleLift's second workforce reduction in under three years, reflecting broader turmoil in the ad tech industry, where firms like Yahoo and EMX have also faced significant cuts or closures.

TikTok India has terminated its entire local workforce, laying off 40 employees in February 2023. This move effectively shuts down its operations in the country, following the Indian government's ban on the app and hundreds of other Chinese applications in June 2020 due to national security concerns. The employees, who had been working remotely from locations like Brazil and Dubai since the ban, were informed that restarting operations in India was unlikely given the government's stance. They were offered a severance package of nine months' pay. Prior to the ban, TikTok had amassed over 200 million users in India. The company, owned by ByteDance, is also facing increasing regulatory scrutiny and potential bans in other markets, including the United States, over similar data privacy and security concerns.

Open Co, a Brazilian fintech company, has laid off at least 26 employees, as indicated by a publicly shared spreadsheet listing affected individuals. The layoffs, which occurred recently, impacted a diverse range of roles across departments including Growth, Tech, People (HR), Marketing, Product, and Compliance. While the exact total workforce and percentage affected are not specified in the provided data, the cuts appear significant and broad-based, reflecting a restructuring effort common in the current economic climate for tech and fintech startups. The list suggests the company is scaling back operations across multiple functions.

Wonderschool, a company in the education technology industry that provides a platform for early childhood educators, conducted a layoff affecting approximately 7 employees, which represented about 10% of its workforce. This reduction occurred in early 2024 as part of a restructuring effort to streamline operations and extend the company's financial runway amid broader economic challenges in the tech sector. The move reflects a strategic adjustment to focus resources on core business areas and achieve sustainable growth.

Bengaluru-based cryptocurrency startup WeTrade has ceased operations and laid off its entire workforce, reportedly last month, amid a severe "crypto winter" and hostile market conditions. The company, which launched in 2022, disabled its trading services on January 17, 2023, and is now focusing on returning customer funds. While the exact number of employees affected is not specified, sources indicate a full team layoff as the startup shuts down. The decision is attributed to the deepening funding winter and extreme uncertainty in the crypto industry, which has particularly impacted early-stage ventures like WeTrade. The company had previously raised INR 15 crore and aimed for significant growth, but could not withstand the ongoing market downturn.

Misfits Market laid off 649 employees representing approximately 33% of its workforce on 2023-02-09.

In February 2023, Microsoft-owned GitHub announced it would lay off approximately 10% of its workforce as part of new budgetary realignments. The cuts, affecting employees through the end of the fiscal year, were aimed at protecting the company's short-term health while freeing up resources to invest in long-term strategy, including its AI-powered initiatives like GitHub Copilot. Concurrently, GitHub decided to transition to a fully remote model, citing low office utilization, and plans to close all offices as leases expire. The tech company, a leading platform for developers, did not specify the exact number of employees impacted but framed the move as necessary to focus on customer needs and future growth in the evolving software development industry.

Quillt on 2023-02-09.

Oportun Financial, a consumer finance company providing personal loans, announced on Thursday a plan to streamline its operations, which includes a workforce reduction of approximately 10%. This layoff impacts about 155 employees out of its total workforce. The decision is part of broader cost-cutting measures that also involve reducing expenditure on external contractors. The move reflects the company's efforts to improve operational efficiency in the competitive financial services industry.

Veriff laid off 66 employees representing approximately 12% of its workforce on 2023-02-09.

REE Automotive, an electric vehicle technology company, is laying off approximately 50% of its workforce, affecting over 100 employees, as part of a drastic restructuring plan announced in June 2025. This follows a previous 11% reduction in 2023. The company, which currently employs around 300 people globally, is taking these measures after reporting a $70 million annual loss and issuing a "going concern" warning. Its goal is to slash operating expenses by 60% to stay afloat. Once valued at $3 billion after a 2021 SPAC merger, REE's market capitalization has plummeted to about $23 million, reflecting the severe challenges in the EV sector. The layoffs will impact staff in Israel, the U.S., and the U.K. as the company strives to streamline operations and extend its runway.

Yahoo laid off 1,600 employees representing approximately 20% of its workforce on 2023-02-09.

GitLab, a provider of collaborative software development services, announced a workforce reduction of 7%, affecting approximately 130 employees, as part of its response to a challenging macroeconomic environment. The company, which had around 1,860 employees, cited slower software investment decisions by clients and a need for responsible spending alignment. CEO Sid Sijbrandij communicated the layoffs to staff on Thursday, noting that previous cost-saving measures were insufficient. The move follows similar cuts across the tech industry, with GitLab offering severance including four months' base salary and extended health benefits. The announcement led to a roughly 12% drop in the company's stock price.

Olive AI laid off 215 employees representing approximately 35% of its workforce on 2023-02-09.

Bark laid off 126 employees representing approximately 12% of its workforce on 2023-02-09.

Deliveroo laid off 350 employees representing approximately 9% of its workforce on 2023-02-09.

Beam Benefits laid off 31 employees representing approximately 8% of its workforce on 2023-02-08.

Gusto laid off 126 employees representing approximately 5% of its workforce on 2023-02-08.

Canadian fintech startup Koho has laid off 42 employees, representing 14% of its workforce, reducing its total headcount to 300. The company-wide cuts, confirmed in early 2023, are part of a restructuring effort amid ongoing tough market conditions in the tech industry. CEO Daniel Eberhard stated that the layoffs are not aimed at extending the company's financial runway but rather reallocating capital toward growth initiatives to accelerate scaling and move toward profitability. This follows a previous restructuring in the fall that affected 15 roles. Koho, which raised $210 million in a 2022 Series D round nearing a $1 billion valuation, remains well-capitalized and continues to hire selectively in areas like product and marketing while navigating the current economic downturn.

Baraja representing approximately 75% of its workforce on 2023-02-08.

Gong, a conversation analytics unicorn, has laid off 80 employees, representing 7% of its workforce, as part of a restructuring effort driven by slower-than-expected growth amid challenging macroeconomic conditions. CEO Amit Bendov stated that the company is adapting to its projected income, with the cuts primarily affecting support, sales, and administrative roles, while core R&D remains intact. This follows a smaller layoff of 15 employees three months prior. Despite the reduction, Gong continues to onboard new clients and anticipates no further layoffs this year. The company, valued at $7.25 billion after a 2021 funding round, operates in the AI and sales tech industry.

Affirm laid off 500 employees representing approximately 19% of its workforce on 2023-02-08.

On February 8, 2023, GoDaddy announced it would lay off approximately 530 employees, representing 8% of its global workforce of about 6,611. The web hosting and domain registration company cited a decline in customer demand amid a global economic slowdown as the reason for the cuts. Affected employees were offered transition packages, extended healthcare benefits, and, in the U.S., 12 weeks of paid administrative leave. This move was part of a broader wave of layoffs across the technology sector in early 2023, as companies adjusted to shifting market conditions.

Equitybee, an Israeli fintech startup that operates a marketplace for startup employee stock options, conducted its second round of layoffs in just over three months, cutting 25% of its workforce in February 2023. This amounted to 24 employees out of a total of approximately 100 across its Israel and U.S. operations. The company, which had previously laid off around 25 staff in October 2022, cited a challenging macroeconomic climate that forced a strategic shift to focus on a more targeted market segment in the U.S. Founded in 2018 and having raised $85 million, Equitybee is adjusting its operations amid broader market pressures affecting the tech industry.

In February 2023, shortly after its acquisition by US private equity firm Thoma Bravo in a deal valued over $1 billion, Australian aerial imaging software company Nearmap underwent significant leadership changes. The company saw the resignation of CEO Rob Newman and the departure of CFO Penny Diamantakiou, with COO Andy Watt stepping into the CEO role. While the exact number of layoffs was not specified, these high-level exits indicate a restructuring phase typical after private equity takeovers, aimed at streamlining operations and aligning with new strategic directions in the competitive tech and software industry.

Medly, a once-prominent pharmacy startup in the healthcare industry, is permanently shutting down in February 2024 after declaring bankruptcy in December 2023. The company is laying off all remaining employees as it closes its 22 pharmacies, with staff being let go by the end of the month. While the exact number of affected employees isn't specified, the shutdown follows months of financial turmoil, with Medly burning through cash due to overly rapid expansion in a competitive, low-margin sector. Its patient data and drug inventory were sold to Walgreens, which has expressed interest in hiring some former Medly staff, though no severance will be paid due to the Chapter 11 bankruptcy.

In February 2023, Irish e-learning startup LearnUpon announced a workforce reduction of 9%, affecting 27 employees globally, including seven in Ireland. The company, which employs nearly 300 people across its offices in Ireland, the US, Australia, and Serbia, cited a challenging global economic environment as the reason for the layoffs. Co-founder and CEO Brendan Noud stated that this difficult decision aims to strengthen the company's position for future growth, with the restructuring bringing its global headcount back to levels from 11 months prior. LearnUpon, a Deloitte Fast 50-ranked company that secured €47 million in funding in 2020, is a notable player in the learning management system industry.

eBay laid off 500 employees representing approximately 4% of its workforce on 2023-02-07.

Australian buy now, pay later firm Openpay collapsed in early February 2023, appointing administrators and effectively ceasing operations. The ASX-listed company, which served over 347,000 customers and 4,200 merchants like Bunnings and Officeworks, had been struggling with significant cash flow issues, reporting a net operating cash outflow of $18.2 million in its last update. While the exact number of layoffs wasn't specified, the administration process typically results in job losses across the company. The collapse reflects broader challenges in the competitive BNPL industry, leading to a trading suspension of its shares and leaving customers unable to make new purchases, though they must still repay existing debts.

Zoom announced plans to lay off approximately 1,300 employees, representing about 15% of its workforce, as part of a restructuring effort to adapt to post-pandemic economic uncertainty. CEO Eric Yuan cited the need for sustainable growth and acknowledged past missteps in team management. Affected employees will receive severance packages, while Yuan will reduce his salary by 98% and forgo his bonus. This move aligns with broader tech industry layoffs, reflecting shifting market demands as remote work trends normalize.

SecureWorks laid off 212 employees representing approximately 9% of its workforce on 2023-02-07.

Salesloft laid off 100 employees representing approximately 10% of its workforce on 2023-02-07.

Sana Benefits, a health insurance startup, has laid off approximately 19% of its workforce as part of a restructuring effort to adapt to the current challenging macroeconomic and funding environment. The layoffs, announced by CEO and Co-Founder Will Young in a message to employees, come despite the company's recent growth, strong customer retention, and a $60 million Series B funding round raised in May. Leadership stated that while past investments focused on accelerating growth and product development, the company now needs to reorient for leaner times to ensure long-term sustainability and continue its mission of reducing healthcare costs. The decision impacts valued colleagues, with the company emphasizing support for departing team members.

In early February 2023, the revenue-software unicorn Clari, valued at over $2.6 billion, conducted its second round of layoffs within a year, cutting more than 20 roles. This followed a previous reduction in August 2022. The layoffs were part of a broader wave of job cuts across the tech industry, which saw over 84,000 positions eliminated in January 2023 alone. Clari, backed by major investors like Sequoia and Blackstone, made these cuts abruptly, catching many employees by surprise. The move reflects ongoing adjustments as tech companies, including fellow unicorn Workato which also laid off staff, brace for economic uncertainty and shift focus toward profitability after periods of rapid growth.

Dell laid off 6,650 employees representing approximately 5% of its workforce on 2023-02-06.

C6 Bank, a Brazilian digital bank and fintech, laid off an unspecified number of employees on Monday, February 6, 2023. The layoffs, described by the company as "readjustments" to enhance efficiency and align with business needs, were negotiated with the banking union. While the exact figure was not disclosed, the company, which serves 22.9 million clients and has an estimated workforce of around 4,000, stated it plans to continue hiring throughout the year, aiming to add 800 new professionals by the end of 2023. This move places C6 Bank among other fintechs and tech companies in Brazil that have recently reduced their staff.

Loggi, a Brazilian logistics unicorn startup, has conducted its second round of mass layoffs in about six months, announcing on February 6, 2023, that it is cutting 7% of its workforce. With an estimated 3,500 employees, this reduction affects approximately 300 people. The company stated the move is part of efforts to enhance operational efficiency and focus on strategic initiatives for business sustainability. This follows a previous layoff in August 2022, when 15% of staff were let go. Despite these cuts, Loggi reported growth of over 50% between 2021 and 2022, highlighting its continued expansion in the logistics sector.

In February 2023, digital entertainment company Pocket Aces laid off 50 employees, representing 25% of its 200-person workforce, as part of a shift to a leaner operating model aimed at achieving profitability. The layoffs, affecting content, production, and post-production teams, are intended to reduce costs and streamline operations, with the company planning to outsource certain functions while focusing more on creator-led short-form content. CEO Aditi Shrivastava stated the move would help Pocket Aces reach operating profit in the 2023-24 financial year, with affected employees receiving financial support, health insurance, and outplacement assistance.

VinFast US laid off 80 employees on 2023-02-06.

South Asia's leading e-commerce platform Daraz has laid off 11% of its workforce due to extremely difficult market conditions, as announced by CEO Bjarke Mikkelsen. The decision, aimed at preparing the company for current realities and ensuring long-term growth, comes after a period of strong expansion where active shoppers grew from 3 million to over 15 million in five years. However, challenges including the war in Europe, supply chain disruptions, soaring inflation, and reduced government subsidies have forced Daraz to refocus on core business, simplify its organization, and improve profitability. The layoffs are part of a broader effort to adjust to a lower growth outlook and prioritize strategic investments for the future.

TenureX, an Israeli fintech startup, has shut down after exhausting its funding. The company, which developed a platform for correspondent banking, had previously employed around 20 people at its peak. Over the past seven months, it conducted successive layoffs as it failed to secure new investment, ultimately leading to its closure in early February 2023. Founded in 2020, TenureX had raised $5 million but could not complete a new funding round amid a tough economic climate and shifting investor sentiment, despite having a product and clients. The shutdown reflects the broader challenges faced by startups during the downturn.

Drift laid off 59 employees on 2023-02-06.

Fintech startup Lightico has laid off 20 employees, representing 25% of its 80-person team, in its second round of workforce reductions, following a similar cutback in March 2022. CEO Zviki Ben Ishay cited the need to achieve profitability and conserve cash amid a challenging market, despite no slowdown in business. The company, which provides mobile e-signature and document solutions, aims to control its destiny and be ready for future fundraising when conditions improve. Lightico had raised $27 million in a Series B round led by Capital One Ventures in 2021.

Kyruus laid off 70 employees on 2023-02-05.