Layoff Events

Unacademy, an Indian edtech startup, has laid off 350 employees, representing about 10% of its workforce, as part of a second major round of job cuts in 2022. Announced in early November, this restructuring aims to reduce operational redundancies and accelerate the company's path to profitability amid challenging economic conditions. CEO Gaurav Munjal cited the need to build more efficient systems for leaner times, despite previous cost-cutting measures that had already lowered monthly burn. Affected employees will receive severance including notice pay, additional compensation, extended benefits, and placement support. The edtech industry in India has seen widespread layoffs this year as startups adjust to funding constraints and macroeconomic pressures.

Zendesk, a customer service software company, laid off approximately 300 employees, representing about 8% of its workforce, in November 2022. The layoffs were part of a broader restructuring effort to streamline operations and improve profitability amid challenging economic conditions. This move affected teams across the organization as the company aimed to focus on its core product offerings and long-term growth strategy.

Domino Data Lab representing approximately 25% of its workforce on 2022-11-07.

Salesforce, a major enterprise software company in the tech industry, laid off fewer than 1,000 employees this week, representing just over 1% of its workforce of 73,541. The move comes as the company faces longer sales cycles and heightened scrutiny from clients, leading to softened demand in certain regions and industries like communications and retail. This follows a period of rapid hiring growth and reflects broader economic pressures, including rising interest rates, that are prompting tech firms to adjust their headcounts.

K-12 edtech platform Practically laid off an unspecified number of permanent employees across departments in early October 2022, citing a severe funds crunch and a failed funding round. The company, facing liquidity issues, also delayed salaries for many contractual and permanent staff for three to four months. This restructuring was part of a strategic shift to focus on potentially profitable B2B, international, and partnership lines while scaling down its B2C business. The layoffs reflect broader financial struggles in the Indian edtech sector, where over 7,000 employees were let go that year due to declining demand for online learning as offline classes resumed.

Poland-based ed-tech platform Brainly laid off nearly all staff from its India team in early November 2022, affecting about 25 employees out of a team of nearly 35. This represents a significant reduction in its India operations, largely impacting the Bengaluru office. The company cited a strategic shift, stating it was discontinuing the development of paid plans and products for Brainly.in, and would instead focus on growing its free community of learners. Despite the layoffs, Brainly maintains a substantial user base in India, claiming over 5.5 crore students, parents, and teachers. The company, which has raised over $150 million, operates globally in the education technology industry.

Cybersecurity firm Varonis laid off 110 employees in November 2022, representing 5% of its then 2,270-strong workforce. Half of the cuts affected its R&D center in Israel. The publicly traded company, which develops enterprise security software, made the decision following disappointing third-quarter results that caused its share price to drop over a third. Despite holding substantial cash reserves and projecting annual revenue growth, Varonis faced market pressure after reporting lower-than-expected forecasts and an operating loss. The layoffs were part of a broader trend of cutbacks within the cybersecurity industry at the time.

Exodus laid off 59 employees representing approximately 22% of its workforce on 2022-11-04.

Planetly laid off 200 employees representing approximately 100% of its workforce on 2022-11-04.

Twitter laid off 3,700 employees representing approximately 50% of its workforce on 2022-11-04.

Indian B2B ecommerce unicorn Udaan has laid off 350 full-time employees in its second major workforce reduction this year, following 180 layoffs in June. This move is part of the company's ongoing drive to achieve profitability and enhance operational efficiency. A company spokesperson cited an evolution in its business model and an efficiency enhancement drive as creating redundancies, making some roles no longer necessary. While the official figure is 350, some reports suggest the total number affected could be higher. Headquartered in Bengaluru, Udaan, which connects SMEs, wholesalers, and retailers, has been actively raising funds through debt and convertible notes while focusing on improving its unit economics and cost structures.

KoinWorks, an Indonesian fintech lending platform, laid off approximately 30 employees in early 2023 as part of a strategic restructuring to enhance operational efficiency. The layoffs affected around 10% of its workforce, which totaled about 300 employees at the time. This move was driven by challenging market conditions and a need to streamline operations amid broader economic pressures in the fintech industry. The company, which operates in the peer-to-peer lending sector, aimed to refocus its resources on core business areas to ensure sustainable growth.

Benitago Group, an e-commerce aggregator that acquires and operates brands on Amazon, laid off 14% of its staff in early November 2022. The company, which had raised $380 million in equity and debt financing the previous year, confirmed the workforce reduction was primarily in its mergers & acquisitions and talent acquisition departments. This decision followed a strategic shift back toward brand incubation and operations, a move co-founder Benedict Dohmen described as a return to the company's roots. The layoffs were attributed to underestimating the impact of an e-commerce market downtrend and rising pressure for profitability, reflecting broader cooling in the once-hot aggregator sector.

Mythical Games representing approximately 10% of its workforce on 2022-11-04.

Delivery Hero, a global food delivery and quick-commerce company, announced a significant workforce reduction in early 2024, laying off approximately 1,250 employees. This cut represented around 13% of its global workforce at the time, which was about 9,500 people. The decision was part of a broader strategic restructuring aimed at improving operational efficiency and accelerating the company's path to profitability. The layoffs, affecting various teams and regions, reflect ongoing challenges and consolidation within the competitive food delivery and technology industry.

LendingTree, a major online lending marketplace in the financial technology industry, has conducted a round of layoffs affecting approximately 140 employees, which represents about 12% of its workforce. This workforce reduction, announced in early 2024, is part of a strategic restructuring effort aimed at streamlining operations and reducing costs to improve profitability amid a challenging market environment characterized by higher interest rates and reduced mortgage activity. The company, which operates at a significant scale in the fintech sector, is refocusing its resources on core growth areas.

Affirm representing approximately 1% of its workforce on 2022-11-03.

Alcohol-ordering startup Provi has conducted a round of layoffs, reducing its workforce as part of a broader restructuring effort. The company, which operates in the technology and beverage distribution industry, made these cuts in early November 2022. While specific numbers regarding the total employees affected or the percentage reduction were not disclosed, the move reflects ongoing challenges and adjustments within the startup sector amid shifting market conditions.

Lyft laid off 700 employees representing approximately 13% of its workforce on 2022-11-03.

Stripe laid off 1,000 employees representing approximately 14% of its workforce on 2022-11-03.

Pleo laid off 150 employees representing approximately 15% of its workforce on 2022-11-03.

Studio, a tech company, has implemented significant layoffs, impacting a number of talented employees. While the exact number of affected staff and the total workforce size are not specified in the announcement, the cuts are described as drastic. The layoffs were announced recently, with a shared alumni list indicating those seeking new opportunities. The context suggests these job cuts are part of the broader trend of tech industry layoffs. The company appears to be in the technology sector, though its specific scale is not detailed.

Rubius representing approximately 82% of its workforce on 2022-11-03.

CloudKitchens, the ghost kitchen startup founded by former Uber CEO Travis Kalanick, laid off approximately 30 employees from its recruiting team in early November 2022. This represents a small fraction of its workforce of over 5,000. The cuts were part of a broader effort to control costs and move toward profitability, as the pandemic-driven surge in online food delivery subsides and economic pressures mount. The company, valued at $15 billion after raising $850 million in 2021, is among many startups adjusting to a tougher funding environment and shifting market conditions in the food tech industry.

Shippo, a shipping software company for e-commerce, has laid off approximately 20% of its workforce as part of its end-of-year planning. The decision, announced in late 2022, was driven by a significant shift in the macroeconomic environment over the preceding year, including slowed e-commerce growth. While the company remains well-capitalized and views shipping as mission-critical, it made this difficult move to adapt to the new conditions, ensure it can weather a potential recession, and continue making strategic investments. The layoffs affected a portion of its team, with the company encouraging other employers to reach out to its recruiting team to connect with the departing employees.

LiveRamp Holdings, Inc., a data connectivity platform in the software industry, announced a workforce reduction on November 3, 2022, as part of a strategic restructuring. The company laid off approximately 10% of its full-time employees to streamline operations and improve profitability. This headcount reduction, combined with a downsizing of its real estate footprint, is expected to yield annual operating expense savings of $30 million to $35 million. The move reflects a broader effort to simplify business processes and focus resources more efficiently.

Chime laid off 156 employees representing approximately 12% of its workforce on 2022-11-02.

In November 2022, agtech startup Iron Ox laid off 50 employees, representing nearly half of its then workforce of just over 100 people. The Bay Area-based company, which had raised over $100 million to develop automated robotic greenhouses, made the cuts to extend its cash runway amid broader economic headwinds. Leadership stated the decision was part of a renewed focus on core engineering and technology competencies, leading to a comprehensive reduction across various departments. While the layoff was a significant setback for the well-funded robotics and agriculture technology firm, the company indicated it had no plans to wind down operations and remained open to additional funding or a potential sale.

Opendoor laid off 550 employees representing approximately 18% of its workforce on 2022-11-02.

Signicat, a European digital identity company, has announced a reorganization that will result in layoffs affecting a small number of employees. The move aims to streamline operations, integrate previous acquisitions more quickly, and build scale across Europe to strengthen its market leadership and focus on profitable growth. While the exact number of layoffs and percentage of the workforce affected were not disclosed, the company stated it will provide support like career coaching to impacted colleagues. This restructuring, led by CEO Asger Hattel, is part of an effort to create a future-proof organizational structure without disrupting customer services. Signicat, headquartered in Norway and backed by Nordic Capital, operates in the digital identity and fintech industry.

In May 2023, Digital Currency Group (DCG), a major crypto venture capital firm and parent company of Grayscale and CoinDesk, laid off around 10 employees, representing nearly 13% of its workforce and reducing total staff to about 66. This restructuring, which coincided with the promotion of Mark Murphy to president, was part of broader industry-wide cutbacks driven by a severe market downturn. The crypto sector had seen significant job losses since early 2022, with DCG's subsidiary Genesis also facing substantial layoffs following losses linked to the collapse of hedge fund Three Arrows Capital.

In November 2022, enterprise SaaS startup Chargebee, backed by investors like Tiger Global and Sequoia Capital India, laid off 142 employees, representing 10% of its workforce. The company, which provides subscription and revenue management solutions and is headquartered in Chennai and San Francisco, cited ongoing global macroeconomic challenges and a need to address operational debt as reasons for the reorganization. CEO Krish Subramanian explained the decision was part of efforts to align hiring and reduce expenses amid a gap between revenue and spending. Affected staff received three months of pay, extended benefits, and career support.

Dapper Labs, the Vancouver-based blockchain company behind NBA Top Shot, has laid off approximately 134 employees, representing 22% of its workforce of 613. The layoffs, confirmed this week, are part of a strategic reorganization to address operational challenges from rapid growth and a refocus on sustainable product strategy. CEO Roham Gharegozlou cited the need for greater alignment and nimbleness, while also acknowledging the impact of macroeconomic headwinds and a significant downturn in the NFT market, where trading volumes have plunged. This move follows a pattern of tech companies scaling back after periods of aggressive expansion.

Israeli cybersecurity unicorn Checkmarx laid off approximately 100 employees, representing 10% of its workforce, in November 2022. The company, which develops automated code scanning security technology and was valued at $1.15 billion, cited the need to adapt to challenging global market conditions affecting the high-tech industry. CEO Emmanuel Benzaquen stated the layoffs were a difficult but necessary step to reorganize the company's structure, refocus resources, and secure long-term growth and client success.

BitMEX representing approximately 30% of its workforce on 2022-11-02.

In November 2022, Berlin-based fintech Smava laid off around 100 employees, representing approximately 15% of its workforce, as part of a cost-cutting program amid a strained economic climate. This marked the company's second round of layoffs in just a few months, following a previous reduction in August. After these cuts, Smava's employee count dropped to about 700. The company, which specializes in consumer credit brokerage and had been on a growth trajectory, including acquiring competitor Finanzcheck in 2021, faced pressures from global economic challenges, particularly following the outbreak of the war in Ukraine. The layoffs affected all areas of the business, reflecting broader difficulties in the fintech sector during this period.

Oracle, a major enterprise software and cloud computing company, laid off as many as 200 employees within its crucial Oracle Cloud Infrastructure (OCI) unit on Tuesday, November 1, 2022. This move is significant because the cloud unit had previously been largely protected from the company's broader cost-cutting efforts throughout the year. While the layoffs represent a small percentage of OCI's approximately 10,000 employees, they signal a shift, impacting teams across OCI including Object Storage, operations, and engineering. This follows earlier layoffs in another cloud unit and reflects ongoing restructuring amid low morale following wider job cuts earlier in the year.

Norwegian online grocery retailer Oda is laying off 70 employees, representing 18% of its approximately 400-person "group services" division, which handles expansion and long-term projects. The cuts, announced in November 2022, are part of a strategic shift toward faster profitability in response to a changed capital market environment. Founder Karl Munthe-Kaas cited the war in Ukraine, rising interest rates, and a downturn in the tech and e-commerce sectors as key reasons. The company, which operates in Norway and Finland, is scaling back its growth pace, including a slower rollout in Germany, while securing new funding at a lower valuation.

Help Scout on 2022-11-01.

In November 2022, fintech lending giant Upstart laid off approximately 140 employees, representing 7% of its then 2,000-strong workforce. The company, which operates a cloud-based AI lending platform, attributed the staff reduction to ongoing economic challenges and a significant decline in loan demand, driven largely by the Federal Reserve's interest rate hikes to combat inflation. This downturn led to a sharp drop in Upstart's loan volumes and a dramatic 84% fall in its share price over the year. The layoffs, focused on roles processing loan applications, were described as a difficult but necessary step for the company's long-term health, with no further cuts anticipated at that time.

In November 2022, Brazilian mobile game developer Tapps Games laid off approximately 10 employees, representing about 12.5% of its workforce of over 80 people. The layoffs were part of a broader trend affecting the Brazilian tech and gaming industry, driven by economic pressures and a cautious investment climate. Venture capital firms, including Sequoia Capital, had advised portfolio startups to preserve cash amid market volatility and geopolitical tensions like the Ukraine war. As one of Brazil's largest game developers, Tapps Games' cuts reflect the challenging environment for companies in the mobile gaming and broader tech sectors during that period.

Argo AI laid off 259 employees on 2022-11-01.

Gem laid off 100 employees representing approximately 33% of its workforce on 2022-11-01.

Brightline representing approximately 20% of its workforce on 2022-11-01.

Edtech startup Doubtnut laid off an estimated 30-40% of its workforce over the past year, a significant reduction driven by a need to drastically cut costs. The company, which had raised about $50 million in total funding, struggled with a high cash burn and delayed monetization, making it difficult to secure fresh capital or find an acquirer. To control expenses, Doubtnut reduced its monthly burn by over 80% by March 2023, which included shutting down several exam preparation verticals and rationalizing teams in sales, academics, and marketing. While the exact number of employees affected is not specified, the severe cut in employee benefit expenses indicates a large-scale layoff. The company has since focused on growing its YouTube-based revenue channels.

Swedish digital healthcare company Kry is laying off around 300 employees, representing 10% of its workforce, as part of a strategic move to achieve profitability within the next 18 to 24 months. The company, which operates in the health tech industry, reports that its Swedish operations are already essentially profitable. This restructuring, announced in April 2026, aims to streamline operations and accelerate its path to overall financial sustainability.

In September 2022, the SaaS-based e-commerce platform Dukaan laid off 23 employees. This decision was part of a strategic shift by the Bengaluru-based startup, which moved its focus from serving small and medium-sized businesses (SMBs) to targeting direct-to-consumer (D2C) brands and enterprises. Founder Suumit Shah explained that roles in areas like live chat support became less critical after this pivot and due to increased automation. While the exact percentage of staff affected is unclear as the total employee count was not disclosed, the layoffs reflect the company's realignment within the competitive e-commerce enablement industry, following its $11 million Pre-Series A funding round in 2021.

EquityZen laid off 30 employees representing approximately 27% of its workforce on 2022-10-31.

Notarize laid off 60 employees on 2022-10-31.

Equitybee, an Israeli-founded startup that operates a marketplace for employees to exercise stock options with investor backing, laid off 25 employees in October 2022. This represented 20% of its then approximately 130-person workforce across Israel and the United States. The company, which had raised $85 million in venture capital, cited significant market changes as the reason for the restructuring. To streamline operations, Equitybee decided to sharpen its focus on the U.S. market and on serving employees at companies in high demand among its investor community. While maintaining its service in Israel, the layoffs were part of a strategic shift to navigate the tougher economic climate affecting the tech industry at the time.