Layoff Events

DocuSign, a leading provider of electronic signature and agreement technology, announced a workforce reduction in February 2024, laying off approximately 6% of its employees, which equates to around 440 people. This decision was part of a broader restructuring plan aimed at improving operational efficiency and focusing on the company's core strategic priorities. The layoffs, affecting teams across various functions, reflect ongoing adjustments within the tech industry as companies navigate economic uncertainties and seek to streamline costs. DocuSign, which operates in the software and cloud services sector, continues to serve a global customer base while adapting its organizational structure for future growth.

Divvy Homes laid off 40 employees representing approximately 12% of its workforce on 2022-09-27.

In September 2022, AI chip startup Graphcore announced plans to reduce its global workforce due to challenging macroeconomic conditions, though the exact number of layoffs and percentage of its then approximately 633 employees were undisclosed as consultations were ongoing. The UK-based semiconductor unicorn, valued at $2.7 billion, cited the need to prioritize for sustainable growth in 2023 despite holding significant cash reserves. This move followed a period of rapid expansion and substantial funding, highlighting the pressures faced by even well-capitalized tech startups in the AI hardware industry amid economic headwinds.

Instacart on 2022-09-24.

Vancouver-based identity verification unicorn Trulioo has laid off 24 employees in Canada this month, with global staff reductions expected to reach 40 to 50 people. This represents five to 10 percent of its workforce, which stood at about 400 prior to the cuts. The layoffs are a strategic repositioning, as the company has decided to stop selling to small businesses—a segment that accounted for less than 3% of revenue but consumed an estimated 50% of go-to-market resources. Trulioo will now concentrate its efforts on serving medium and large enterprises operating internationally. CEO Steve Munford described this as a one-time move to streamline operations for growth. The fintech and identity verification firm, valued at $2 billion, is navigating a challenging economic climate that has impacted many tech companies.

Berlin-based fintech startup Moss laid off approximately 70 employees, representing about 15% of its workforce, in September 2022. The company, which provides corporate credit cards and had around 500 employees at the time, cited significant changes in the overall economic environment as the reason for the cuts. This move was part of a broader trend of layoffs across the fintech sector, even among well-funded companies. Moss, which had raised $160 million and was valued at $500 million, also implemented a hiring freeze. Despite the layoffs, the company had recently obtained an e-money license from German financial regulator BaFin, aiming to become more independent from its financial partners.

Konfio laid off 180 employees on 2022-09-23.

Pesto representing approximately 100% of its workforce on 2022-09-23.

Foxtrot, a retail company, laid off approximately 3.5% of its workforce in September 2022. While the exact number of affected employees wasn't specified, the reduction was part of broader operational adjustments. The layoffs reflect the challenging environment for retail businesses at the time, as companies streamlined their teams to manage costs and adapt to market conditions.

Klarna, the Swedish buy now, pay later fintech giant, announced a second round of layoffs in September 2022, affecting fewer than 100 employees globally. This came just four months after cutting 10% of its workforce and despite CEO Sebastian Siemiatkowski stating weeks earlier that layoffs were complete. The new COO, Camilla Giesecke, cited a need to reflect the company's "more focused" nature, with cuts targeting departments like IT and recruiting. Klarna's revised budget allowed for up to 6,000 employees. The move followed a turbulent period where Klarna's valuation plummeted 85% to $6.7 billion, and its losses more than tripled, driven by a challenging economic environment shifting away from the low-interest conditions that favored BNPL models.

NYDIG laid off 110 employees representing approximately 33% of its workforce on 2022-09-22.

Kitty Hawk, a pioneering electric aviation company, laid off a significant portion of its workforce in early 2020 as part of a strategic shift. While exact figures were not publicly detailed, the move followed the winding down of its Flyer program and a refocusing of efforts. The company, backed by Google co-founder Larry Page, was part of the emerging advanced air mobility industry. This restructuring occurred as the company pivoted its resources toward other aviation projects, reflecting the challenges and strategic recalibrations common in the capital-intensive aerospace startup sector.

Curative laid off 109 employees on 2022-09-20.

Ada, a conversational AI company, has laid off 78 employees. While the exact total workforce and percentage affected are not specified in the post, CEO Mike Murchison announced the difficult decision, expressing gratitude for the contributions of those impacted. The layoffs occurred as part of a workforce reduction, with the company offering support to affected individuals. The post, made on LinkedIn, reflects a broader trend of adjustments within the tech and AI industries.

Ouster representing approximately 10% of its workforce on 2022-09-20.

In September 2022, the Brazilian urban mobility platform 99, a subsidiary of China's Didi Chuxing and the country's first unicorn, laid off over 75 employees, primarily from its customer experience (CX) department. This reduction affected about 2% of its workforce, which totaled around 3,700 employees at the time. The company cited the need to adapt its operational model and customer relationship structure for greater scale and flexibility as the reason for the layoffs, part of a broader trend of workforce adjustments in the tech industry.

Compass laid off 271 employees on 2022-09-20.

Online retailer Zappos, a division of Amazon, initiated layoffs in late September 2022, affecting a portion of its Las Vegas-based workforce. The company officially stated the cuts impacted less than 4% of its staff, though internal sources suggested the figure could be as high as 20%. The move, part of a business evaluation to find operational efficiencies, occurred roughly five months after Scott Schaefer assumed the permanent CEO role. Impacted employees were offered severance and insurance benefits.

Vesalius Therapeutics laid off 29 employees representing approximately 43% of its workforce on 2022-09-19.

VideoAmp, a software and data platform in the advertising technology industry, underwent a reorganization in September 2022 that resulted in layoffs affecting approximately 2% of its workforce. This move was aimed at staying ahead of technological and market trends to drive client value. Concurrently, the company expanded the role of its Chief Technology Officer, Tony Fagan, to oversee Product, Engineering, and R&D departments, positioning VideoAmp for continued growth in revolutionizing cross-platform media measurement. The restructuring reflects the industry's shift away from legacy models toward new currencies that leverage big data for better measurement solutions.

Ola, the Indian mobility startup, has laid off 200 software engineers as part of a major restructuring plan to centralize operations and minimize role redundancy. This reduction affects about 10% of its engineering workforce, which totals over 2,000 roles across various streams like vehicle, battery, and autonomous engineering. The layoffs, occurring in 2022, come amid challenges including declining sales for Ola Electric scooters and previous shutdowns of ventures like Ola Cars and Ola Dash, which had already led to around 1,000 job cuts. Despite this, the company plans to hire 3,000 more engineers soon, focusing on its electric vehicle ambitions, including scooters and upcoming cars, as it navigates a competitive travel tech industry.

Shopee, a major e-commerce platform under Singapore-based Sea Group, conducted a new round of layoffs in September 2023, affecting employees across multiple regions and departments including Southeast Asia, China, and Latin America. While the exact number of layoffs was not officially disclosed, reports indicated that hundreds of employees were impacted. This move was part of the company's ongoing efforts to optimize operational efficiency and control costs amid a challenging global economic environment and intensified market competition. As a leading player in the global e-commerce industry, Shopee has implemented several workforce adjustments since 2022 to streamline its business structure and focus on sustainable growth.

TrueLayer, a fintech company, has announced the closure of its AltFi media business after 10 years of operation. While specific layoff numbers were not disclosed, the shutdown implies the entire AltFi team is affected. The decision comes after facing severe headwinds over the past 18 months, despite strong journalism and brand loyalty. The company expressed gratitude to its staff, readers, and partners for their support over the decade, highlighting its role in covering the UK fintech industry's growth. This move reflects challenges in the media sector within fintech, impacting a specialized news provider that had become a trusted source for industry insights.

Clear, a Bengaluru-based fintech SaaS platform formerly known as Cleartax, laid off approximately 190 to 200 employees on September 15, 2022, representing about 20% of its workforce. The cuts affected multiple departments, including tech, product, and sales, as part of a restructuring effort to extend the company's financial runway amid a broader decline in startup funding. This move occurred nearly a year after Clear raised $75 million in a Series C round led by investors like Kora Capital and Stripe, and followed recent acquisitions aimed at expanding its compliance and financing services. The layoffs reflect a challenging environment for Indian startups, which have seen significant workforce reductions in 2022.

Israeli healthtech startup DayTwo, which develops AI-driven personalized nutrition solutions for metabolic diseases like diabetes, is laying off dozens of employees in both Israel and the U.S. The company, which currently employs around 150 people, cited the deteriorating macroeconomic climate as the reason for the restructuring. Announced in September 2022, the layoffs are part of a strategic shift to focus its efforts primarily on the U.S. market. DayTwo, backed by $85 million in total funding, aims to improve health outcomes by leveraging gut microbiome analysis and virtual care.

Acast laid off 70 employees representing approximately 15% of its workforce on 2022-09-15.

Bitrise, a mobile DevOps platform, laid off 14% of its workforce last week in a difficult cost-cutting move to improve business efficiency. The company's co-founder and CEO announced the reduction, which affected an unspecified number of employees, describing it as one of the toughest periods in the company's history. Bitrise expressed gratitude for the contributions of the departing team members and is providing outplacement support to assist them in finding new roles. This restructuring reflects broader economic pressures faced by tech companies.

In September 2022, cloud communications company Twilio announced a significant workforce reduction, laying off approximately 11% of its staff, which translates to between 800 and 900 employees out of a total of over 7,800. The San Francisco-based, publicly traded firm cited a strategic shift toward achieving profitability in 2023 as the primary reason, attributing the cuts to past rapid growth, a lack of focus on key priorities, and the need to operate more efficiently amid a broader economic downturn. The layoffs primarily impacted go-to-market, research and development, and administrative departments. CEO Jeff Lawson acknowledged responsibility for the decision, framing it as a necessary step to align investments with core priorities and strengthen the company's financial position.

On September 14, 2022, vertical farming unicorn Infarm laid off 50 employees, representing about 5% of its total workforce of approximately 1,000. The Berlin-based startup cited necessary cost reductions due to soaring energy prices and its drive toward profitability as reasons for the cuts. Valued at over a billion dollars, Infarm operates across Europe, the U.S., Canada, and Japan, and was founded in 2013. The layoffs occurred amid industry challenges, including the bankruptcy of French competitor Agricool earlier that year.

In September 2022, Netflix laid off 30 employees from its animation division as part of an ongoing overhaul. The layoffs followed the appointment of new leadership tasked with streamlining the animation team, a move aimed at restructuring rather than reducing output. While the exact percentage of the total animation workforce affected isn't specified, the cuts reflect a strategic shift within a division that has produced multiple Oscar-nominated films. Netflix confirmed the layoffs, emphasizing its continued commitment to animation with a robust slate of upcoming releases and acquisitions.

Pitch, a presentation software company, laid off 59 employees, representing 30% of its team, as part of a strategic shift to navigate the economic downturn. The layoffs were announced by CEO Christian Reber, who expressed deep regret over parting ways with what he described as incredibly gifted individuals. Affected staff will receive pay and have their shares continue to vest until the end of the year. The company, operating in the tech industry, made this difficult decision to adjust its strategy amid broader economic challenges, highlighting the impact of market conditions on startups.

Rubius laid off 160 employees representing approximately 75% of its workforce on 2022-09-13.

Taboola, a digital advertising platform, laid off over 100 employees, representing 6% of its workforce of more than 2,000 people. The cuts were announced by CEO Adam Singolda in September 2022 as part of a broader cost-reduction plan aiming to save $38 million, including cuts to marketing and capital expenses. This restructuring occurred despite recent growth, following the company's public listing via a SPAC merger in 2021, which valued it at $2.6 billion, though its market cap had since declined. The layoffs reflect broader economic pressures in the tech industry during that period.

Vietnam's proptech startup Propzy, which had been backed by investors like SoftBank Ventures, has shut down its operations as of September 2022. This closure resulted in all employees being laid off, effectively a 100% reduction of its workforce. The shutdown follows earlier restructuring efforts, including laying off over 50% of staff, as the company struggled with business challenges in the competitive real estate technology sector. The exact total number of employees at the time of closure was not specified, but the startup had scaled significantly with notable funding before its demise.

Patreon laid off 80 employees representing approximately 17% of its workforce on 2022-09-13.

FullStory representing approximately 12% of its workforce on 2022-09-13.

In September 2022, Finnish mobility-as-a-service company Maas Global, which had acquired the Brazilian urban mobility startup Quicko just six months prior, announced it was shutting down all operations in Brazil. This closure resulted in the layoff of all employees at the Brazilian headquarters. Following the acquisition, Maas Global had incorporated Quicko's team of over 60 employees. The shutdown of the Quicko app in cities like São Paulo and Rio de Janeiro marked a full exit from the Latin American market. The CEO cited a sudden change in financial markets and an inability to secure sufficient funding as the primary reasons, despite the startup having ambitious growth targets, including aiming for one million users. This pivot led the parent company to focus on partnerships in other regions instead.

Israeli HR tech startup Compete laid off 11 employees in September 2022, representing over a quarter of its 39-person workforce. The cuts affected HR, marketing, and sales teams across its Israeli and U.S. offices. This downsizing occurred just six months after the company secured a $15 million Series A funding round led by Tiger Global. Compete, which provides a real-time compensation and benefits benchmarking platform, cited the need to extend its financial runway due to a market slowdown and adverse macroeconomic conditions impacting the global tech industry. The move was framed as part of a plan to secure the company's long-term growth amidst challenging market dynamics.

Karbon, a company providing practice management software for accounting firms, has conducted a layoff affecting approximately one in four employees, as indicated in a LinkedIn post by CEO Stuart McLeod. The reduction is part of a strategic shift to support customers, product vision, and growth amid current economic uncertainty. While the exact number of employees laid off and the total workforce size were not specified, the post emphasized support for the impacted team members and mentioned creating a list of available talent for other employers. The announcement was made in 2021, reflecting challenges in the tech industry during a period of economic unrest.

Rent the Runway representing approximately 24% of its workforce on 2022-09-12.

Based on the provided article content, there is no mention of any layoff event at Sama. The content is promotional and focuses on the company's B Corp recertification, its 2024 impact report, its services in AI data annotation, and various blog resources. Therefore, a summary describing a layoff cannot be generated from this material.

Mode Analytics, a business intelligence and data analytics platform, has conducted a layoff affecting an unspecified number of its employees. The exact scale of the reduction, including the total workforce, percentage impacted, and precise date, was not detailed in the available report. The layoffs occur within the competitive data analytics and SaaS industry, where companies often adjust headcount to optimize operations and focus resources. As a venture-backed startup, Mode is navigating market pressures to streamline its business and achieve sustainable growth.

CommonBond, a fintech company specializing in student loans and solar financing, is winding down its operations after a decade, resulting in layoffs for its entire workforce. The company, which had grown to serve over 1 million users and employed hundreds, faced insurmountable challenges following the COVID-19 pandemic. The federal pause on student loan payments severely impacted its core student refinance business, leading to its exit from that sector earlier this year. While its newer solar financing division showed strong growth, CommonBond was still scaling and not yet profitable, requiring new capital that ultimately could not be secured. This inability to pivot the business quickly enough led to the decision to wind down, marking the end for the company once recognized among Fast Company's 50 Most Innovative Companies in 2018.

Lido Learning, an Indian edtech startup backed by prominent investors like Ronnie Screwvala, filed for insolvency and bankruptcy in September 2022. This followed the abrupt layoff of approximately 1,200 employees earlier in the year, a move that left many without final salaries. The company, operating in the competitive education technology sector, cited an inability to pay its debts as the reason for initiating the Corporate Insolvency Resolution Process. This event was part of a broader wave of layoffs across Indian startups in 2022, particularly in edtech, as companies faced financial strain after a period of rapid, pandemic-fueled growth.

SkipTheDishes laid off 350 employees on 2022-09-09.

DreamBox Learning on 2022-09-09.

In September 2022, Egyptian B2B e-commerce startup Capiter, which had raised a $33 million Series A round a year prior, faced severe turmoil. The company laid off at least 100 employees between June and July, representing a significant portion of its workforce, as it struggled with financial mismanagement and a rapidly dwindling runway. Concurrently, the board fired the CEO and COO, citing their inability to fulfill duties, failure to report during due diligence for a potential merger, and alleged fund mismanagement. Operating in the competitive African B2B retail and fintech space, the once high-flying startup, which had aggressively hired to reach ambitious targets, was left seeking a buyer to salvage the business amid a broader global downturn affecting tech startups.

On September 9, 2022, Australian fintech company Brighte laid off approximately 58 full-time employees, representing a 27% reduction of its Australian team. The layoffs resulted from the company's decision to close business units focused on longer-term, non-core projects, including offshore expansion plans and the development of certain tech platform capabilities. This restructuring aims to accelerate Brighte's pathway to profitability by focusing solely on its core sustainable home finance business, which provides point-of-sale financing for solar, batteries, and home improvements through a network of over 2,200 vendors. The move is intended to better position the company to navigate current market conditions while continuing its mission to make homes more sustainable.

Amber Group representing approximately 10% of its workforce on 2022-09-09.

In the summer of 2022, cannabis technology startup Flowhub laid off approximately 15% of its workforce, affecting about a dozen employees, primarily in operations, sales, partnerships, and customer service. The cuts, which took place in June and early July, were driven by a slowdown in legal cannabis sales in key markets like Colorado and California, increased competition, and a challenging fundraising environment for tech startups. Flowhub, founded in 2015 and backed by investors including Jay-Z, provides inventory tracking and sales processing services for cannabis retailers. The company cited restructuring due to its new product direction and macroeconomic conditions as reasons for the layoffs, aiming to ensure long-term market leadership. This move reflects broader struggles in the cannabis industry, where multiple firms have recently reduced staff amid declining venture capital investment.