Layoff Events

In September 2022, Patreon, a membership platform for content creators, laid off its entire security team, confirming five employees were let go. The company did not disclose the total size of the security team prior to the layoffs or the specific reasons behind the decision, though it noted it works with external organizations for security capabilities. This occurred amid broader tech industry layoffs in 2022, attributed partly to over-hiring. Founded in 2013, Patreon reported having 250,000 creators on its platform. The layoffs drew attention from the security community, which responded by sharing job opportunities for the affected professionals.

GoStudent laid off 200 employees on 2022-09-08.

Genome Medical laid off 23 employees on 2022-09-08.

Pomelo Fashion laid off 55 employees representing approximately 8% of its workforce on 2022-09-08.

Pharmacy startup Medly is cutting nearly half its workforce, laying off around 200 employees as part of a restructuring effort. The company, which operates in the health care and technology industry, had grown rapidly but is now scaling back to streamline operations and focus on profitability. This significant reduction, announced in September 2022, reflects broader challenges in the startup sector amid shifting market conditions.

Danish company Simple Feast, which offered vegan and vegetarian meal kits and groceries, has declared bankruptcy, resulting in layoffs for all 150 employees. The closure, announced in September 2022, ends deliveries in Denmark, Sweden, and California. Co-founder and CEO Jakob Jønck cited the combined impact of pandemic-related shutdowns and the war in Ukraine as major challenges that led to the shutdown. Founded in 2014, the company had delivered around 5.5 million plant-based meals and raised nearly half a billion kroner in capital.

Intercom laid off 49 employees representing approximately 5% of its workforce on 2022-09-07.

Gold loan fintech startup Rupeek has laid off approximately 50 employees on September 7, marking its second round of workforce reductions this year after cutting 180 jobs in June, bringing the total to about 230 employees let go in 2022. This represents around 5% of its total workforce. The Bengaluru-based company cited a subdued macroeconomic environment and a strategic shift toward achieving profitability within the next 12-18 months as key reasons, aiming to adopt a leaner cost structure. Concurrently, Rupeek is in advanced discussions to secure $16 million in funding from existing investors like Sequoia Capital and Accel, having already raised $7.4 million to bolster its financial position and core operations.

Israeli chip startup Xsight Labs is laying off dozens of employees in September 2022, affecting staff in Israel and contractors in Eastern Europe across various departments. The company, which develops advanced chipsets for the communications market and has raised over $100 million, is making these cuts to adjust expenses and prepare for the coming years amidst broader tech industry challenges. The layoffs follow a recent CEO appointment and reflect a strategic shift to align with the current economic situation.

Uber is closing its engineering office in Vilnius, Lithuania, impacting approximately 60 software engineers. The decision, announced on September 7, 2022, is due to a lack of local senior leadership and challenges in hiring managers at the site. The closure is scheduled for June 2023, giving employees nearly a year's notice. Uber is handling the transition considerately, with no immediate layoffs, offering relocation support to other offices, and ensuring performance reviews and bonuses are completed. The Vilnius office, which focused on infrastructure and developer tooling, will see its teams and projects, such as Devpods, transitioned or discontinued.

Pendo laid off 45 employees representing approximately 5% of its workforce on 2022-09-07.

In early September 2022, food delivery giant foodpanda laid off approximately 60 employees in Singapore, representing about 5% of its 1,200-strong local workforce. The layoffs were part of a broader cost-cutting initiative by its German parent company, Delivery Hero, which aimed to achieve profitability (EBITDA-positive status) amid significant financial losses. This move occurred just months after foodpanda established Singapore as its regional headquarters and global tech hub. The company, which holds about 37% of Singapore's food delivery market, described the decision as painful but necessary to remain competitive, while offering support programs to affected staff. Similar job cuts were also reported in other regional markets like the Philippines and Thailand.

Cloud data warehouse unicorn Firebolt is laying off dozens of employees, the company confirmed in September 2022. While the exact number was not disclosed, the Israeli startup, which employs over 200 people across more than 20 countries, cited the global economic slowdown and new market conditions as the reason for the cuts. Despite having over $200 million in the bank and a recent $100 million funding round at a $1.4 billion valuation, CEO Eldad Farkash stated the company needed to streamline operations. Firebolt plans to continue investing in its core product, engineering, and field teams.

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Brave Care laid off 40 employees representing approximately 33% of its workforce on 2022-09-06.

Lawgeex, an AI contract review startup, is laying off approximately 30 employees, representing about one-third of its total workforce. This decision follows a strategic pivot and business model shift. The company, which originally focused on selling automation technology to large corporate legal departments, recently obtained a license to provide legal consultation. This allowed it to market a new product, superlegal.ai, to smaller businesses without legal teams. To streamline operations and aim for profitability for its core enterprise product, Lawgeex is restructuring, splitting into two product lines, which necessitates workforce adjustments across its Israeli and U.S. offices. The layoffs were announced in early September 2022.

In September 2022, proptech firm Juniper Square laid off approximately 14% of its workforce, equating to about 66 employees based on its reported total of 469 staff. The San Francisco-based company, which provides software for commercial real estate investment management, cited changing macroeconomic trends as the reason for the cuts, which primarily targeted the sales organization and other ancillary functions. Despite the layoffs, Juniper Square emphasized its strong financial position and plans to continue hiring aggressively in customer service teams. The move reflects broader challenges in the proptech sector, where rising interest rates and reduced real estate transactions have dampened demand and made capital raising more difficult.

In September 2022, Nigerian digital bank Kuda laid off approximately 23 employees, representing less than 5% of its then 450-person workforce. This move, part of a broader trend of workforce reductions among African tech startups, was driven by efforts to cut costs and extend the company's financial runway amid challenging macroeconomic conditions. Despite recently raising significant funding and planning expansions into new markets like Ghana, Uganda, and Pakistan, Kuda opted to streamline operations by eliminating redundant roles and addressing underperformance. The layoffs highlight the balancing act faced by fast-growing fintech firms, even those valued at $500 million and serving over 4 million customers, as they navigate economic headwinds while pursuing aggressive growth.

In a brutal week of layoffs during September 2022, Nigerian retail-focused startup Alerzo laid off over 100 employees, part of a broader wave of dismissals that saw more than 200 staff fired since May 2022. The company, operating in the e-commerce and logistics industry, cited performance issues as the reason, though employees described an atmosphere of fear and uncertainty, attributing the cuts to overestimation of hiring needs during expansion and fluctuating business demand. The layoffs primarily affected ground-level officers in logistics and loading roles, reflecting challenges in scaling operations amid market realities.

In September 2022, Singapore-based tech conglomerate Sea Limited conducted a second round of layoffs, primarily affecting its gaming division, Garena, and its R&D unit, Sea Labs. The cuts included approximately 40 positions from the live-streaming app Booyah! and about a dozen roles in experimental projects like public cloud and blockchain, which were subsequently halted. These measures were part of a broader strategic shift away from aggressive growth and international expansion toward cost-cutting and profitability, driven by increased market competition and economic volatility. As of late 2021, Sea employed around 67,300 people, making it Southeast Asia's largest tech firm. The layoffs followed an initial round in June and included revoked job offers at its Shopee e-commerce platform.

Berlin-based fitness startup Urban Sports Club has laid off 55 employees, representing 15% of its workforce, in an unexpected move driven by missed profitability targets. The company, which offers flexible sports memberships across multiple European countries, had initially focused on aggressive growth following the pandemic. However, due to challenging market conditions, including the energy crisis and inflation, it has shifted its strategy toward achieving profitability, particularly in Germany by year-end. The layoffs, which affect all brands under the group including OneFit and Fitogram, were described as fair by affected staff, who received market-standard severance packages. The company remains operational in Germany, Belgium, France, Portugal, Spain, and the Netherlands.

2TM laid off 100 employees representing approximately 15% of its workforce on 2022-09-01.

Healthtech unicorn Innovaccer, backed by Tiger Global and valued at $3.2 billion, laid off 90 employees on September 1, representing less than 8% of its workforce. The layoffs primarily affected the tech team, including managers and leads, and were attributed by the CEO to optimizing the cost structure amid current economic conditions. This move comes just nine months after the company doubled its valuation with a $150 million funding round. Impacted employees were offered a three-month severance package. The decision surprised many staff, as leadership had recently indicated strong performance.

Shopify laid off 70 employees on 2022-09-01.

Hedvig laid off 12 employees on 2022-09-01.

Apartment List, a real estate technology company, made the difficult decision to lay off approximately 10% of its workforce. The announcement was made by company leadership, who expressed gratitude for the contributions of the impacted employees, referred to as "A-Listers." While the exact number of affected employees and the total company size were not specified, the layoffs were framed as a necessary organizational change. The company emphasized its confidence in its ongoing strategy and commitment to innovation within the rental industry, while also offering to connect affected talent with new opportunities.

Koo, an Indian micro-blogging platform and a homegrown rival to Twitter, has laid off 15 employees, representing about 5% of its total workforce. The layoffs, which occurred in late August and early September, primarily affected operations and backend teams in north India. The company stated that these positions were made redundant due to performance issues and to align with current business requirements, describing the move as in line with industry standards. Amid a broader funding crunch in the startup ecosystem, Koo is simultaneously hiring in monetization, product, and engineering teams to prepare for its next growth phase. The company, backed by investors like Tiger Global, operates in the social media and technology industry as a startup.

GoodRx, a U.S.-based healthcare technology company known for its prescription discount platform, conducted a layoff affecting approximately 16% of its workforce in early 2023. This reduction, impacting around 140 employees, was part of a broader restructuring effort aimed at improving operational efficiency and reducing costs amid a challenging economic environment for the tech sector. The move reflects ongoing adjustments within the digital health industry as companies seek sustainable growth paths.

The German fintech company Smava, a Berlin-based consumer loan comparison portal, has laid off approximately 10% of its workforce, affecting nearly 100 employees out of a total of around 1,000. The staff was informed of the cuts yesterday, with the layoffs impacting virtually all departments, including IT and marketing. This move is part of an ongoing wave of job reductions within the German fintech industry, reflecting broader market adjustments and challenges in the sector.

Snagajob, an online job board platform for hourly workers, has laid off approximately 40 employees at its headquarters in Richmond, Virginia. The cuts were made in response to shifting market conditions and an uncertain economic outlook, as stated by CEO Mathieu Stevenson. While the exact percentage of the local workforce affected is unclear, the company emphasized its commitment to maintaining a presence in Richmond. Founded in 2000, Snagajob has undergone previous workforce reductions, including in 2018, and operates in the HR tech industry.

The Wing representing approximately 100% of its workforce on 2022-08-31.

TCR2 laid off 30 employees representing approximately 20% of its workforce on 2022-08-31.

Hippo Insurance, a U.S.-Israeli insurtech company specializing in home and property insurance, announced layoffs affecting 70 employees, which represents 10% of its workforce. The cuts, effective immediately in August 2022, are part of a restructuring effort amid significant stock decline and leadership changes, including the recent replacement of its founder as CEO. The company reported a severance package totaling approximately $4 million for the affected employees. This move follows a lowered revenue forecast and missed analyst expectations, reflecting broader challenges in adjusting its growth trajectory and operational costs.

Snap, the parent company of Snapchat, is implementing a significant workforce reduction, laying off approximately 20 percent of its employees. With a total workforce of over 6,400, this translates to around 1,280 job cuts. The layoffs, which began on August 31, 2022, are part of a broader restructuring effort to cut costs amid a sharp decline in the company's financial performance. Snap's stock price had plummeted nearly 80 percent since the beginning of the year, leading to this decisive action. The cuts are impacting various departments, including the hardware division responsible for Spectacles and the canceled Pixy drone, the team developing mini-apps and games within Snapchat, and the Zenly mapping app. This move follows a period of aggressive hiring during the pandemic and reflects the challenging economic environment facing the social media and technology industry.

Berlin-based event startup Artnight laid off 26 employees last week, representing over one-third of its workforce, which now stands at 46. Founder Aimie-Sarah Carstensen cited the challenging macroeconomic environment as the reason, expressing concern that consumers might cut back on discretionary spending for leisure activities like Artnight's painting workshops. The company, founded in 2016 and known from the TV show "Die Höhle der Löwen," had already struggled during the pandemic due to its initial reliance on in-person events. Although it temporarily shifted to online formats, Artnight has since refocused entirely on its original core business of offline workshops and discontinued other event formats to streamline operations. The layoffs affected all departments, including management, and were not driven by investor pressure, according to the founder.

In August 2022, Ghana-based social technology company Viamo conducted a significant layoff, described by a former employee as affecting "a lot" of staff, particularly within its global design and implementation teams in Asia. The company, which provides mobile communication services in local languages for NGOs, governments, and businesses, cited redundancy and internal restructuring as reasons, noting that fewer people could handle the existing workload. This move appears linked to financial strain, with the company reportedly "in the red" due to low revenue and a decline in venture funding. The layoffs may also reflect a post-pandemic adjustment, as Viamo had expanded rapidly during COVID-19 to run global misinformation programs with substantial funding, which has since diminished. This marked the second round of layoffs for the company.

Nate laid off 30 employees on 2022-08-30.

Electric, an IT and security management platform for small to medium businesses, laid off approximately 15% of its workforce in early 2023, affecting around 30 employees. The company, which had about 200 employees total, cited a need to streamline operations and extend its financial runway amid broader economic uncertainties in the tech industry. This restructuring reflects the challenges faced by many SaaS and IT service providers in adjusting to shifting market demands and prioritizing sustainable growth.

Bristol-based cybersecurity startup Immersive Labs has laid off 38 employees, representing 10% of its global workforce, as part of a restructuring effort to accelerate its path to cashflow breakeven. The company, founded in 2017, cited the need to adapt to the current economic downturn and focus on high-growth opportunities in proven markets. Despite the layoffs, Immersive Labs continues to hire for 32 open roles, primarily in the U.S., emphasizing strategic growth in key segments. The firm, which has raised $123 million in funding and serves clients like HSBC and Citi, aims to position itself for long-term success amid broader industry challenges affecting the UK tech sector.

African genomics startup 54gene laid off 95 employees in August 2022, representing approximately 30% of its workforce of over 290. The layoffs primarily resulted from a significant decline in COVID-19 testing demand, a business line the company had expanded into during the pandemic. This downturn led to redundancies across multiple functions, including labs, sales, data entry, and sample collection. Founded in 2019, the startup had raised $45 million to advance precision medicine by building a biobank of African genetic data, but the contraction of its testing operations necessitated this workforce reduction.

Skillz, a mobile esports platform company, conducted a round of layoffs in early 2024, affecting approximately 10% of its workforce. This reduction, which impacted dozens of employees, was part of a broader restructuring effort aimed at extending the company's financial runway and achieving profitability. The layoffs follow a period of strategic challenges for Skillz as it navigates a competitive mobile gaming market and works to streamline its operations.

Social commerce platform Meesho laid off approximately 300 employees in late August 2022 as it wound down its grocery business, 'Superstore,' in over 90% of its operational cities. This decision was driven by low revenue and high cash burn in the grocery segment. The layoffs followed earlier workforce reductions of about 150 in April 2022 and 200 in April 2020, as the company, which serves millions of users and small businesses, refocused on its core marketplace. The affected employees reportedly received a severance package of two months' salary.

Fungible, a VC-funded composable DPU startup, has laid off a significant number of employees as it refocuses on the mature storage market amid broader economic challenges. The company, which has raised $311 million, is navigating a competitive landscape dominated by established players while burning cash. This move, reported in late August 2022, reflects industry-wide pressures including inflation, supply chain issues, and recession fears affecting tech startups. Fungible's strategy centers on its DPU hardware and composability software, aiming to streamline server-storage interactions, but market saturation poses a challenge for its growth.

Israeli autotech company Otonomo is laying off dozens of employees, impacting its workforce of nearly 200 people. This significant reduction follows a dramatic decline in the company's market value, which has plummeted from $1.26 billion at its SPAC-led IPO in 2021 to just $62 million by August 2022. The layoffs are part of a restructuring effort amid poor business results, failure to meet revenue forecasts, and macroeconomic challenges. The company, which operates a data marketplace for connected vehicles, also faces potential delisting from Nasdaq after its stock traded below $1 for over 30 days.

Zymergen, a biotechnology company focused on bio-manufacturing, laid off approximately 120 employees, representing about 25% of its workforce, in a restructuring effort announced in August 2022. The move was part of a strategic shift to prioritize near-term revenue opportunities and reduce operational costs, following challenges in commercializing its initial products. This reduction impacted teams across the organization as the company aimed to extend its financial runway and refocus its research and development efforts.

Fintech startup Argyle laid off 20 employees in August 2022, representing 6.5% of its team, as part of a strategic shift to focus on enterprise clients rather than small and medium-sized businesses. The company, which provides employment record access, stated the move was necessary to align its workforce with the specific skill sets required for serving larger organizations. Despite the layoffs, Argyle planned to double its headcount by year-end, hiring for over 30 open positions. This restructuring occurred just five months after the company secured a $55 million Series B funding round, highlighting the competitive pressures in the fintech sector, where even well-funded startups must adapt quickly to market demands and evolving competitor landscapes like Plaid's entry into income verification.

Okta, a security technology company, laid off its entire US sourcing team in August 2022, affecting 24 employees, which represented about 0.4% of its global workforce. This move was part of a broader trend among tech companies, including Twitter and Apple, to reduce HR and talent acquisition roles amid economic uncertainty and hiring slowdowns. While Okta stated it continues to invest in high-growth areas and plans to increase overall headcount, the decision reflects a strategic shift as companies adjust to a looming recession by scaling back recruitment-focused positions.

ShipBob, a Bain Capital Ventures-backed e-commerce fulfillment startup, laid off 7% of its workforce on August 25, 2022, as the post-pandemic online shopping boom cools. The company, which operates fulfillment warehouses in the US, UK, and Europe and was valued at over $1 billion, cited a greater-than-expected downturn in e-commerce demand. Affected roles included recruiters, software engineers, and much of the quality assurance team. This move reflects broader challenges in the logistics and fulfillment sector, where companies like Stord and FarEye have also cut staff. Laid-off employees received severance packages, including 10 weeks of pay and COBRA coverage, as ShipBob adjusts to a shrinking market after rapid expansion.

FreshDirect laid off 40 employees on 2022-08-25.

Loja Integrada, a e-commerce platform owned by VTEX, laid off approximately 25 employees in early August 2022, representing about 10% of its workforce of nearly 250. The cuts affected multiple departments, including marketing, content, product, software, and business intelligence. The company stated the layoffs were part of a strategic redirection to improve operational efficiency, involving brand repositioning, new product launches, and outsourcing some activities. While the official reason cited efficiency gains, a former employee suggested the move corrected prior disorganized growth and role overlaps. Despite the layoffs, the company indicated it continues to hire in other areas and provided extended health benefits to those affected.