Layoff Events

Harappa Education, an edtech startup owned by upGrad, laid off around 60 employees, representing 30% of its 200-person workforce. The layoffs, announced in late December 2022 and reported in March 2023, primarily affected the content division as part of broader restructuring. This move reflects ongoing challenges in India's edtech sector, where funding constraints and shifting demand have led to widespread job cuts. Despite recent growth and expansion plans, including a launch in the US, the company implemented these reductions without offering severance benefits, signaling potential further adjustments amid industry pressures.

Uniphore laid off 76 employees representing approximately 10% of its workforce on 2023-01-03.

Amdocs, a global software and services provider for communications and media companies, laid off 700 employees in early January 2023, representing approximately 3% of its total workforce. This decision came despite the company reporting strong financial performance, including a 20% stock increase and $4.58 billion in revenue for fiscal 2022. The layoffs, which included 100 positions in Israel where Amdocs employs about 5,000 people, were described as a measure to maximize flexibility and efficiency amid broader economic uncertainties. The company, which employs around 30,000 globally, stated it continues to recruit for other roles while implementing these cutbacks.

Graphcore on 2023-01-01.

Micron laid off 4,800 employees representing approximately 10% of its workforce on 2023-01-01.

Gousto representing approximately 14% of its workforce on 2022-12-31.

Octopus Network, a multichain Web3 infrastructure platform, has initiated a significant restructuring to endure the prolonged crypto winter, announcing layoffs affecting 40% of its team alongside a 20% pay cut for remaining staff. Founder Louis Liu detailed in a December 26, 2022 blog post that the harsh market conditions have forced the company to streamline operations, including suspending team token compensation and pausing development on Octopus 2.0. The voluntary separation program aims to reduce costs after heavy investments in projects like NEAR and IBC, reflecting broader struggles within the cryptocurrency and blockchain industry as startups fight for survival amid capital market slowdowns.

Chinese video platform Bilibili has initiated a new round of layoffs affecting its operations, gaming, and streaming units, with 30% of staff in these teams being let go. The company attributed the move to necessary business adjustments but clarified it does not constitute a large-scale workforce reduction. Affected employees are being offered a compensation package of "N (years of service) + 2" months' salary. Some staff have already departed, while others are negotiating terms, with dissatisfaction centered on the timing at year-end, which reportedly prevents them from receiving an annual bonus equivalent to about three months' salary. The layoffs reflect ongoing adjustments within the competitive Chinese tech and online video industry.

In late December 2022, the fintech company PayU, the investment arm of South African multinational Naspers, laid off 150 employees, representing 6% of its global workforce. The Netherlands-based payment service provider implemented these cuts to realign its teams locally, with the layoffs spread across various departments. The reductions primarily impacted PayU's India unit and Wimbo, a California-based payment and security company acquired by PayU in 2019. This restructuring occurred despite the company reporting strong revenue growth in India, highlighting the strategic shifts within the competitive digital payments industry.

Element representing approximately 15% of its workforce on 2022-12-25.

Zoopla, a UK-based property technology company, is laying off 50 employees, referred to as "Zoopligans," by the end of the year, making their roles redundant. The company cites ongoing challenges from the global pandemic and a volatile socio-economic climate in 2022 as reasons, stating the need to adapt priorities and teams for greater efficiency and to continue serving customers. While the exact percentage of its workforce affected isn't specified, the layoffs impact roles across Product and Tech, Account Management, Sales, Talent Acquisition, and Project Management. Zoopla expressed gratitude for the employees' contributions and is encouraging other companies to hire them, highlighting the move as part of efforts to weather economic uncertainties and focus on long-term goals in the proptech industry.

Property and infrastructure software startup Willow, backed by former Macquarie Group CEO Nicholas Moore, has laid off 22% of its full-time staff and contractors. The cuts, announced in December 2022, reflect broader valuation pressures in the technology sector. CEO Joshua Ridley has relocated to Dallas to be closer to the company's major clients, signaling a strategic shift to prioritize key customer relationships amid the challenging market conditions.

In December 2022, French refurbished electronics marketplace Back Market, the country's most valuable startup, laid off 13% of its workforce, affecting 93 employees—67 in France and 26 internationally. This reduction, part of a broader wave of tech layoffs across Europe, was driven by the need to cut costs and preserve cash amid a challenging economic downturn. The company, which had achieved a $5.7 billion valuation earlier in 2022, scaled back across all teams as investors urged portfolio companies to adopt more cautious financial strategies.

Qualcomm, a leading wireless technology and semiconductor giant, is laying off 153 employees in San Diego, representing about 1% of its 12,500-person workforce in the region. The cuts, effective in February 2023, are part of broader cost-reduction measures amid a global slowdown in smartphone demand. The company, which employs 51,000 worldwide, had previously implemented a hiring freeze and lowered its sales forecast, citing a significant drop in smartphone sales and bloated chip inventories across the industry. This move reflects wider challenges in the tech and semiconductor sectors as companies adjust to reduced consumer spending and economic uncertainty.

Lendis, a company in the fintech or business services industry, has laid off half of its team due to deteriorating market conditions over recent months. The founders announced this difficult decision with a heavy heart, taking full responsibility and pledging support for affected employees. While the exact number of employees impacted isn't specified, the 50% reduction indicates a significant downsizing as the company seeks to navigate the challenging economic environment.

Self-driving truck company TuSimple laid off approximately 350 employees, representing 25% of its U.S. workforce, in December 2022 as part of a major restructuring. This move followed a challenging year marked by the end of a key partnership with Navistar, executive shakeups, federal investigations, and a significant stock decline. Facing economic pressures and high cash burn, the company aimed to streamline operations and focus on core technology development, scaling back unprofitable freight expansion. Affected U.S. staff received two months of pay and severance, while TuSimple continued its shift toward commercialization and sold off its Asia-focused business.

Chope, a Singapore-based restaurant reservation platform, laid off approximately 30 employees in early 2023, representing about 15% of its workforce at the time. The company cited a strategic restructuring to streamline operations and focus on core markets amid challenging economic conditions in the food and beverage industry. This move affected teams across various functions as part of efforts to ensure long-term sustainability.

Zhihu representing approximately 10% of its workforce on 2022-12-20.

Toronto-based insurtech startup Briza laid off approximately 26 employees last week, representing nearly half of its workforce, which previously stood around 65. The layoffs occurred amid a broader economic tightening and challenging fundraising environment, leading to a leadership transition where CEO and co-founder Ben Munro stepped down. CTO Rishi Sharma has assumed the CEO role and executed the staff reductions, which included senior director-level positions. Founded in 2016 and backed by venture capital, Briza provides an insurance-as-a-service API platform for commercial insurance. This move reflects a wider trend of year-end workforce adjustments across the Canadian tech sector as companies brace for continued economic headwinds.

In December, StreetBees, a market research and insights platform, underwent a round of layoffs as part of its transition from a startup to a scale-up. The company reduced headcount in its Engineering, Product, Machine Learning, Marketing, and Sales teams to align investments with the current economic climate. While the exact number of employees affected was not disclosed, the layoffs impacted talent across the UK, US, Portugal, and Brazil. StreetBees, which has built its technology over eight years, made this difficult decision to streamline operations and ensure sustainability amid broader economic pressures.

Melbourne-based grocery delivery startup YourGrocer ceased operations on December 16, 2022, resulting in the layoff of its approximately 60 employees. The nine-year-old company, which partnered with local independent grocers, was forced to close after a recent crowdfunding campaign failed to reach its $1 million goal, securing only about $225,000. Despite generating $9.2 million in sales and building a loyal customer base, YourGrocer was not yet profitable, posting a loss of over $680,000 in FY2022. The closure highlights the ongoing challenges in the competitive food delivery and tech startup sector, even for established local players.

Homebot, a real estate technology company, laid off 18 employees on December 14, 2022, representing 13% of its workforce. CEO Charlie Pratt cited the challenging economic environment, including the fastest mortgage rate increase in decades, a more than 50% decline in lending volumes, and reduced profitability in the mortgage industry. While the company experienced over 50% year-over-year revenue growth, the latter half of 2022 proved difficult, leading to the decision as Homebot had over-hired relative to the new market realities. The layoffs were a one-time adjustment with no further reductions planned, and affected employees received severance and support packages.

Health IQ on 2022-12-19.

Chinese smartphone giant Xiaomi has initiated a significant round of layoffs across several departments, including its core smartphone and internet services units, as reported in late 2026. While the exact total number of employees affected was not disclosed, the cuts were severe in some areas, with certain teams in China seeing reductions of up to 75% of their staff, and the internet department experiencing a 40% headcount decline. The layoffs come in the context of a challenging economic period for the company, which saw a 9.7% year-on-year revenue decline and a 59.1% drop in adjusted net profit in Q3 2026, largely due to falling smartphone shipments. Affected employees were offered compensation packages following an "N+2" formula. As a major player in the consumer electronics and technology industry, this restructuring reflects broader pressures within the competitive tech sector.

German sustainable fintech startup Tomorrow announced in December 2022 that it is laying off a quarter of its workforce, affecting around 30 of its 120 employees. The company, which operates a smartphone bank focused on green investments, stated the drastic staff cuts are necessary to ensure stability for the remaining team amid a broader fintech crisis. Despite raising millions in funding and introducing customer fees, Tomorrow reported significant losses of over 14 million euros, as it has not yet achieved profitability. The layoffs are part of cost-saving measures to help the company continue pursuing its mission of financing reforestation projects and sustainable funds.

In late 2022, amidst a widespread economic downturn affecting the tech sector, Montréal-based data fulfillment company Revelate laid off 24 employees, representing approximately 30 percent of its workforce. The company, which had recently rebranded from TickSmith and secured $20 million CAD in Series A funding, made the difficult decision to restructure, citing the need to ensure the sustained health and growth of the business in a dramatically shifted economic environment. This move was part of a broader wave of layoffs across Canadian tech companies as they prepared for a challenging 2023.

Autograph, the NFT and Web3 platform co-founded by Tom Brady, has laid off dozens of employees, representing a significant portion of its 124-person workforce. The cuts, which occurred in December 2022, primarily affected marketing, HR, and creative departments. The company cited challenging market conditions as the reason for the "small workforce reduction." This move followed Autograph's decision to sever ties with its board member, the disgraced FTX founder Sam Bankman-Fried. Backed by major investors like Andreessen Horowitz, the Los Angeles-based startup operates in the digital collectibles and blockchain industry, having launched during the peak of the NFT sports boom.

SonderMind representing approximately 15% of its workforce on 2022-12-16.

Improbable representing approximately 10% of its workforce on 2022-12-16.

LeafLink laid off 80 employees representing approximately 31% of its workforce on 2022-12-15.

Apollo representing approximately 15% of its workforce on 2022-12-15.

BigCommerce laid off 180 employees representing approximately 13% of its workforce on 2022-12-15.

Freshworks, a Nasdaq-listed SaaS unicorn in the enterprise tech industry, has laid off approximately 90 employees, which represents less than 2% of its workforce of over 4,000 people. The layoffs, occurring across sales, marketing, and engineering teams, are part of an organizational reshuffle aimed at fueling business growth and aligning resources with critical initiatives amid macroeconomic pressures. This move reflects broader industry challenges, including inflationary pressures and reduced software spending, which have prompted similar actions by other SaaS companies. The affected employees have reportedly received severance packages, and the company has integrated its HR management system, Freshteams, with another product as part of these changes.

Berlin-based HR tech startup Workmotion laid off approximately 60 employees, representing 20 percent of its workforce of over 300, in December 2022. The company, which provides a SaaS platform for hiring and managing remote international employees, cited a macroeconomic slowdown affecting client hiring as the reason. Despite raising $50 million in a Series B round earlier that year and having strong investor backing, management stated that a leaner team was better suited to navigate the challenging market conditions, while emphasizing the company's ongoing stability.

Headspace laid off 50 employees representing approximately 4% of its workforce on 2022-12-14.

Austrian edtech startup GoStudent, valued at $3 billion and backed by investors like SoftBank, has initiated its second round of layoffs in three months, affecting over 100 employees. This follows a previous cut of about 200 jobs in September, which represented roughly 10% of its workforce. The company, which employs around 1,600 people, is reducing roles across its operations in Italy, Germany, and Austria, with further reductions anticipated. The layoffs come as GoStudent shifts toward a hybrid teaching model, recently acquiring Germany's Studienkreis, and reflects broader challenges in the tech sector where startups are prioritizing efficiency and profitability amid a tougher fundraising environment.

Online ordering company ChowNow is laying off 40 employees, representing about 10% of its staff, as demand for delivery services stabilizes post-pandemic. This follows a previous round of cuts in July, when the company reduced its workforce by 20% from about 500 employees. The Los Angeles-based firm, which partners with around 20,000 independent restaurants, cites the need to ensure long-term sustainability amid shifting consumer dining habits and a tightening investment climate. Founded in 2012, ChowNow positions itself as a restaurant-friendly alternative to larger delivery platforms. This move reflects broader downsizing trends in the restaurant technology sector this year.

Quanergy Systems laid off 72 employees on 2022-12-14.

Landing on 2022-12-14.

In December 2022, Edgio, Inc., an IT services and consulting company, approved a restructuring plan to reduce operating costs and optimize its business model. As part of this initiative, the company announced a reduction in force affecting approximately 95 employees, which represents about 10% of its global workforce. The layoffs are expected to be implemented through the second quarter of 2023 and are projected to result in approximately $14 million in net annual savings. Concurrently, the company's Chief Growth Officer departed, with his duties being assumed by the CEO.

Viant, a publicly traded digital advertising technology company, announced plans in December 2022 to lay off 46 employees, representing 13% of its workforce. The layoffs are part of a cost-reduction strategy aimed at sharpening the company's focus on key growth priorities amidst an adverse macroeconomic environment and a broader downturn in digital advertising. This move aligns with similar workforce reductions across the adtech industry, as companies like Meta and Google also faced declining ad sales. Viant, which operates a demand-side platform and owns properties such as MySpace, cited a deceleration in advertising spend from key verticals like automotive and retail as a contributing factor.

Komodo Health, a healthcare data analytics startup valued at $3.3 billion, laid off 78 employees, representing 9% of its workforce, in December 2022. The restructuring occurred amid a frigid IPO market, with the company aiming to improve profitability ahead of a potential public debut. This move followed the departure of its CFO and came alongside a $200 million equity infusion from investors Dragoneer and Coatue. The co-founders described the layoffs as a step to ensure capital efficiency in a changing economic environment, marking the company's second round of cuts since 2020.

TaxBit on 2022-12-13.

Pluralsight, a technology workforce development platform, laid off approximately 400 employees in early 2024, representing about 20% of its workforce. The layoffs were part of a restructuring effort to streamline operations and focus on core business priorities, including its AI-driven learning tools. This move follows the company's acquisition by Vista Equity Partners and reflects broader adjustments in the edtech and corporate training industry.

Caribou on 2022-12-12.

Balto laid off 35 employees on 2022-12-12.

Freshly laid off 329 employees on 2022-12-12.

Convene, a company in the workplace and hospitality industry, laid off a number of its team members this week as part of a reassessment of its organizational structure. The decision, described as incredibly tough by CEO Ryan Simonetti, was driven by the need to position the business for future growth in a challenging and dynamic macroeconomic environment. While the exact number of employees affected and the total workforce size were not specified, the layoffs reflect a strategic shift. Simonetti expressed regret, noting in hindsight that the company would have ramped up more slowly post-pandemic and been more cautious with R&D investments in certain areas. The company is offering support and seeking to connect the impacted individuals, who were instrumental to its culture and success, with new opportunities.

In December 2022, the edtech unicorn Outschool conducted its second round of layoffs for the year, letting go of 43 employees, which represented a quarter of its staff. The company, which was last valued at $3 billion, cited a dramatic slowdown in growth as students returned to in-person schooling and a challenging funding environment marked by recession fears and higher investor demands for profitability. This followed an earlier layoff in July that affected 18% of its workforce, underscoring the broader struggles within the once high-flying edtech sector.

Autobooks, a financial technology company, has laid off an unspecified number of employees amid a broader wave of tech industry job cuts. The layoffs occurred in December 2022, reflecting the challenging economic environment and strategic adjustments within the tech sector. While exact figures regarding the total workforce and percentage affected were not disclosed, this move aligns with a trend of cost-cutting and restructuring seen across many technology firms during this period.