Layoff Events

Indian logistics startup BlackBuck is laying off between 200 to 250 employees, primarily from its customer experience and operations teams, as a direct result of the severe disruption caused by the nationwide COVID-19 lockdown in early 2020. The lockdown drastically reduced the movement of goods across the country, crippling operations for logistics firms. The layoffs, confirmed in April 2020, represent a significant workforce reduction for the startup, which had raised over $200 million from prominent investors and served major clients like Asian Paints and Hindustan Unilever. The company was reportedly attempting to help place the affected employees in other organizations.

BitGo representing approximately 12% of its workforce on 2020-04-17.

QuintoAndar laid off 88 employees representing approximately 8% of its workforce on 2020-04-17.

Grailed, an online marketplace for men's clothing based in New York City, laid off at least 12 employees across all departments last week. While the exact percentage of its workforce affected is unclear, the cuts reflect broader challenges in the tech and e-commerce sectors as companies adjust to economic pressures. The layoffs were confirmed by a high-ranking HR employee, highlighting the ongoing trend of restructuring within the industry.

CarGurus, an online car marketplace, laid off 130 employees last month, representing 13% of its workforce. The company cited the impact of stay-at-home orders, which forced many car dealers to close and effectively paused vehicle sales. Despite efforts to reduce marketing expenses and offer significant discounts to support dealer partners, CarGurus was unable to avoid these staff reductions. The layoffs affected all departments of the company.

Purse representing approximately 100% of its workforce on 2020-04-16.

Funding Societies, a Singapore-based fintech company specializing in SME financing, laid off approximately 10% of its workforce in early 2023. This reduction, affecting around 30 employees out of a total of roughly 300, was part of a strategic restructuring to enhance operational efficiency amid challenging global economic conditions. The move reflects broader pressures within the fintech industry as companies adjust to a tighter funding environment and focus on sustainable growth.

In June 2020, amid the COVID-19 pandemic and a nationwide lockdown in India, the customer engagement platform CleverTap implemented layoffs as part of cost-cutting measures to ensure business survival. While the exact number of employees let go was not specified in the provided article excerpt, the context indicates it was part of a broader wave of workforce reductions across the Indian startup ecosystem. The industry-wide crisis forced many tech companies, including unicorns and growth-stage startups, to make difficult choices between preserving jobs and extending their financial runway. CleverTap, operating in the SaaS and marketing technology industry, took this step during a period of severe economic uncertainty and falling demand across sectors.

LumenAd, a marketing technology company, has conducted a reduction in force (RIF), as evidenced by a spreadsheet listing numerous affected employees seeking new roles. The document includes at least 100 rows, suggesting a significant layoff event impacting software developers, data scientists, and marketing automation specialists, primarily based in Missoula, Montana. While the exact percentage of the workforce affected is not specified, the scale indicates a major restructuring. The context points to broader economic challenges in the tech and ad-tech industries, with these layoffs likely occurring recently, given the employees are actively searching for new positions.

SquadVoice on 2020-04-16.

Kodiak Robotics laid off 15 employees representing approximately 20% of its workforce on 2020-04-15.

View, a 13-year-old dynamic glass company based in Milpitas, California, has conducted layoffs affecting an unspecified number of employees, including at its plant in Olive Branch, Mississippi, as reported in April 2020. While the exact scale of the job cuts is not disclosed, former employees cited the pandemic as the reason, with one noting the company "really cleaned house," impacting several long-time staff. View, which had raised $1.1 billion from SoftBank's Vision Fund in 2018, operates in the building materials and green technology industry, focusing on energy-efficient glass for commercial real estate. The layoffs reflect broader challenges during the COVID-19 crisis, though the company's total workforce and percentage affected remain unclear.

Shop101, a Mumbai-based social commerce startup, laid off approximately 200 employees in early April, representing nearly 40% of its total workforce of 400-500. Additionally, around 100 contractual call center staff were terminated. The company, which had recently secured INR 28.69 crore in Series C funding in late March, cited cash flow challenges exacerbated by the COVID-19 pandemic as the reason for the downsizing. Originally planned for June, the layoffs were accelerated. Remaining employees faced pay cuts of 15-30%, while founders took 50% reductions. The move surprised staff, especially after internal reports of INR 100 crore profits for FY19-20 in February. Severance was inconsistent, with some receiving only one month's pay.

Akulaku, a prominent Indonesian fintech company, conducted a round of layoffs affecting an unspecified number of employees. The workforce reduction was part of a broader strategic restructuring aimed at optimizing operational efficiency and adapting to evolving market conditions within the competitive digital finance and e-commerce industry. While the exact scale and percentage of the layoffs were not publicly detailed, the move reflects ongoing adjustments in the tech sector as companies streamline their operations to ensure long-term sustainability.

Trove Recommerce, a company that assists retail brands with their resale programs, laid off 13 employees last week, affecting all departments. The layoffs were confirmed by a company executive, though the specific reason was not disclosed. Based in the San Francisco Bay Area, Trove operates in the retail technology and recommerce industry, focusing on helping brands manage second-hand sales. This reduction represents a significant workforce adjustment for the company, reflecting broader challenges or strategic shifts within the tech and retail sectors.

Carta, a fintech company providing equity management software, laid off 161 employees last week, representing 16% of its workforce across all departments. The layoffs were part of a restructuring effort, with the company citing a need to streamline operations. Affected employees are receiving a generous severance package, including three months of pay and healthcare coverage through the end of the year. The company operates globally with offices in San Francisco, Salt Lake City, and Rio de Janeiro.

Tulip Retail, a company providing mobile-first enterprise software for retail associates, laid off 14 employees due to the severe impact of COVID-19 on the retail industry. The layoffs were a cost-cutting measure to ensure the company's long-term sustainability and mission, despite efforts to reduce expenses elsewhere. This difficult decision was announced by CEO Ali Asaria, who expressed gratitude for the contributions of the affected team members. The move reflects broader challenges in the retail sector during the pandemic, as companies adapted to shifting market conditions.

Opendoor, a San Francisco-based startup that operates an online platform for buying and selling homes, laid off 600 employees yesterday, representing 35% of its workforce. The cuts affected all departments and mark one of the largest layoffs among pre-IPO companies since the pandemic began, following only Toast's recent reduction of 1,300 staff. The company cited broader economic challenges as it scales back operations, offering affected employees eight weeks of pay and 16 weeks of health insurance reimbursement. This move reflects the significant pressures facing the real estate tech sector amid shifting market conditions.

Indonesian travel photography startup SweetEscape laid off at least 30% of its workforce in April 2020, a significant reduction driven by the severe impact of the COVID-19 pandemic on the global travel industry. The cuts reflect the broader crisis that hit many travel-related startups, as lockdowns and travel restrictions drastically reduced demand for services like on-location photography. While the exact number of employees affected wasn't specified, the percentage indicates a substantial downsizing for the company, which had previously secured Series A funding to expand its AI capabilities.

Zume, a troubled SoftBank-backed robotics startup, laid off approximately 200 employees on April 15, 2020, representing two-thirds of its workforce after earlier cuts in January. This drastic reduction left the company with about 100 staffers, down from nearly 1,000 at its peak when it was valued over $1 billion. The layoffs were driven by failed funding efforts, exacerbated by the COVID-19 pandemic, which caused investors to withdraw and disrupted supply chains and customer contracts. The cuts affected two major divisions, including Zume Forward and the Gigaranch team, shifting the company's focus to compostable food packaging amid financial struggles and executive departures.

In April 2020, action camera manufacturer GoPro announced a significant restructuring, laying off over 200 employees, which amounted to 20% of its workforce. The company, impacted by the COVID-19 pandemic's disruption to its global retail distribution, is shifting to a direct-to-consumer business model centered on GoPro.com to improve margins. This strategic pivot includes reducing office space in five regions and cutting operating expenses, targeting a $100 million reduction in 2020. Founder and CEO Nicholas Woodman also forewent his salary for the year, with the board receiving no cash compensation, as GoPro withdrew its earnings guidance for the first half of 2020 amid these changes.

Dude Solutions, a software company providing operations management solutions, has laid off 20% of its workforce due to the severe economic impact of the COVID-19 pandemic. The company's leadership announced the difficult decision after a month of crisis management, which included cutting non-essential spending and freezing hiring. The reduction was deemed necessary to extend the business runway and ensure long-term stability. While the exact number of employees affected wasn't specified, the layoffs were described as heartbreaking, with the company providing severance and support to those impacted. The announcement was made in early 2020 as the global crisis unfolded, emphasizing the pandemic's widespread effect on businesses.

VSCO, a popular photography mobile app, laid off 45 employees yesterday, representing 30% of its workforce. The CEO cited the need to transition toward a self-sustaining business model as the reason for the cuts. The company is offering a minimum of seven weeks of severance pay, two months of health coverage, and job placement assistance to those affected, most of whom are based in the San Francisco Bay Area. This restructuring reflects broader challenges in the tech industry as companies adjust to economic pressures.

Xerpa, a Brazilian HR and payroll technology company, laid off 10 employees due to drastic market changes caused by the COVID-19 pandemic. This difficult decision, announced in a post by company leadership, was part of an adjustment to the company's profile to navigate the ongoing crisis. While the exact total workforce and percentage affected are not specified in the announcement, the layoffs impacted a close-knit team, described as "amazing friends and colleagues." The company expressed confidence in its remaining team and future, while actively recommending the affected professionals to other employers in the industry.

In April 2020, amid the economic turmoil of the COVID-19 pandemic, luxury consignment retailer The RealReal announced significant workforce reductions. The publicly traded online platform laid off 10% of its employees and placed an additional 15% on furlough. These measures, part of a broader cost-cutting strategy that included executive pay reductions and a hiring freeze, were aimed at reducing operating expenses by approximately $70 million to preserve liquidity. The furloughs affected staff across e-commerce centers, retail stores, consignment offices, sales, and headquarters. CEO Julie Wainwright stated the moves were necessary to weather the crisis and position the company for a strong recovery once the economy stabilized, highlighting the company's focus on its balance sheet and long-term operational scaling.

In April 2020, Southeast Asian budget hotel network RedDoorz laid off a significant portion of its workforce as part of drastic cost-cutting measures to survive the COVID-19 pandemic's severe impact on the travel and hospitality industry. While the exact number of employees affected was not publicly detailed, the layoffs were described as substantial and necessary to extend the company's financial runway. The move was part of a broader trend among regional startups, where investors advised that budget cuts and furloughs were inevitable for survival amid the global crisis.

Envoy laid off 58 employees representing approximately 30% of its workforce on 2020-04-14.

In April 2020, amid the economic turmoil of the coronavirus pandemic, mobile gaming marketplace Skillz laid off 21 employees, including senior analyst Alexander Muhr. The San Francisco-based startup, which had been optimistic about its future and a potential IPO, was among the many tech companies forced to cut costs as the crisis hit. While the exact percentage of staff affected is not specified, the layoffs reflect the broader squeeze felt by startups fearing funding shortages and revenue declines. Despite the upheaval, many laid-off tech workers, including those from Skillz, reported continued recruiter interest, offering a glimmer of hope in an otherwise challenging job market marked by widespread unemployment filings and hiring freezes across the industry.

DataStax, an enterprise software startup valued at $967 million, laid off approximately 15 to 20 employees in the second week of April 2020. This marks the company's third round of job cuts since new CEO Chet Kapoor took over in October 2019, following layoffs in December and February, and is part of a broader trend of restructuring over the past year. The recent reductions, which primarily affected sales and solutions engineering roles, were attributed by Kapoor to the company not growing quickly enough to justify its headcount. These cuts come amid leadership changes and a shift in strategy toward appealing more to developers, following a period where DataStax had been reportedly preparing for an IPO in spring 2019.

TouchBistro, a Toronto-based startup providing point-of-sale and restaurant management software, temporarily laid off 131 employees, representing 23% of its 560-person workforce, due to the devastating impact of COVID-19 on its core restaurant client base. The layoffs, announced in March 2020, primarily affected teams in Canada, the U.S., and the U.K., while employees in Mexico faced salary reductions and a shortened workweek. As restaurants globally were forced to close or pivot to takeout, TouchBistro shifted its focus to developing free or discounted tools to support customers' cash flow and delivery operations. CEO Alex Barrotti reduced his salary to zero, and the company maintained benefits and stock option vesting for laid-off staff, aiming to preserve the business for recovery once the pandemic subsided.

In April 2020, Brazilian fintech Neon laid off less than 10% of its workforce due to the economic impact of the COVID-19 pandemic. With a total of around 700 employees at the time, this adjustment meant fewer than 70 people were affected. The company, which offers digital banking services and had grown rapidly in 2019, stated that part of the layoffs were performance-related, while another portion was linked to areas directly hit by the crisis, such as services for small and medium-sized businesses. The São Paulo-based startup, backed by significant investments, was among several Brazilian companies forced to make cuts as the coronavirus disrupted economic activities.

Groupon, the online marketplace for local deals, announced on Tuesday that it is laying off 2,800 employees, which represents 44% of its total workforce. The cuts span all departments, including a significant number of engineering roles. The company cited a "material deterioration" in its business, largely due to the widespread closures of local businesses it partners with, as the primary reason for this drastic restructuring. This major reduction highlights the severe impact of the economic downturn on the tech and e-commerce industry, affecting a company of its scale.

Zoox laid off 100 employees representing approximately 10% of its workforce on 2020-04-13.

In April 2020, Clearbanc, a Toronto-based fintech company providing equity-free funding to startups, laid off 17 employees, representing about 8% of its staff. The layoffs, affecting roles from office managers to sales, were implemented to navigate the long-term economic uncertainties brought on by the COVID-19 pandemic. Despite the cuts, the company emphasized it would continue operations and support affected employees with extended benefits and job search assistance. Clearbanc, which had rapidly grown, hiring over 140 people the previous year and disbursing $1 billion to numerous startups, noted that while demand for its capital remained strong, it would adopt a more conservative investment approach due to market volatility. The layoffs were seen as a strategic adjustment to ensure sustainability amid the global crisis.

Geekwire laid off 5 employees representing approximately 31% of its workforce on 2020-04-10.

In April 2020, Brazilian fintech startup BeeTech laid off 35 employees. This reduction was part of a broader wave of layoffs across Brazil's startup sector, which saw nearly 1,000 job cuts at over a dozen companies due to the economic uncertainty caused by the COVID-19 pandemic. BeeTech, which operates services like BeeCâmbio and Remessa Online, had experienced significant growth in 2019, hiring over 160 new staff, many in anticipation of continued expansion. However, faced with sudden market disruptions and impacts on its business planning, the company made the difficult decision to reduce its workforce across various departments to conserve cash and navigate the crisis.

Meow Wolf, the Santa Fe-based immersive arts and entertainment company, laid off 201 employees and furloughed an additional 56, representing a significant portion of its workforce. The company, which employs nearly 200 remaining staff, made these cuts in response to the severe economic impact of the COVID-19 pandemic. With its flagship House of Eternal Return installation closed and major events like the Taos Vortex festival canceled, the company faced a critical revenue crunch. The layoffs, announced in late April 2020, affected employees across all locations, including upcoming projects in Denver, Las Vegas, Phoenix, and Washington DC. Meow Wolf cited the need to ensure the company's survival and future success, providing severance packages and support to affected staff.

NuoDB laid off 20 employees representing approximately 29% of its workforce on 2020-04-10.

Built In laid off 28 employees on 2020-04-10.

Frontdesk, a short-term rental and hospitality startup, laid off 35 employees, which represents 16% of its total workforce. The difficult decision was made in response to the severe impact of the COVID-19 pandemic on the travel and hospitality industry. The layoffs, announced by CEO Jesse DePinto, affected a range of roles including digital marketers, data analysts, and hospitality cleaners. These employees were credited with contributing to the company's significant growth. The move reflects broader economic challenges faced by the sector during this period.

Clinc laid off 40 employees representing approximately 32% of its workforce on 2020-04-09.

Yelp, the prominent local business reviews platform, announced significant layoffs last week, affecting 1,000 employees, which represents 17% of its workforce. The company also placed an additional 1,100 staff on furlough. This move comes as Yelp faces a sharp 64% decline in customer interest for restaurants since March 10, highlighting the severe impact of the COVID-19 pandemic on its core business. The layoffs spanned all departments, including engineering, underscoring the broad restructuring effort by the San Francisco-based tech company to navigate the economic downturn.

In April 2020, Brazilian management platform startup Omie (Omiexperience) laid off approximately 136 employees, representing about 31% of its then 439-person workforce. The layoffs occurred in two waves, driven by a combination of internal restructuring and the direct economic impact of the COVID-19 pandemic. The first wave of 42 dismissals was attributed to a strategic shift to serve larger enterprise clients and an adjustment for unmet growth projections. The second wave of 94 cuts was a direct response to the coronavirus crisis, which disrupted client demand despite initial expectations that remote work trends would boost business. Affected departments included marketing, sales, customer relations, franchises, and human resources. The company maintained salaries and benefits for remaining staff and launched a free tool to support micro-entrepreneurs during the downturn.

In April 2020, Domo, an American Fork-based cloud software company, laid off approximately 90 employees, representing about 10% of its workforce. The layoffs were a direct result of the economic uncertainty caused by the COVID-19 pandemic. CEO Josh James stated that while the business was performing well at the time, the company needed to take proactive measures to ensure long-term stability and continue serving its customers. Despite the workforce reduction, Domo was actively demonstrating its value during the crisis, notably by building a data-driven command center for the state of Utah to aid pandemic response efforts.

Matterport, a company specializing in 3D imaging technology, laid off approximately 90 employees earlier this month, which represents about 34% of its workforce. The cuts impacted all departments across its offices in the SF Bay Area, Chicago, and London. This significant reduction reflects broader challenges in the tech industry as companies adjust their operational strategies amid economic uncertainties.

OneTrust laid off 150 employees representing approximately 10% of its workforce on 2020-04-09.

LoopMe, an ad-tech company, has conducted layoffs as part of broader industry cost-saving measures amid the coronavirus pandemic. The financial downturn has exacerbated existing pressures from dwindling investment and privacy changes, forcing clients to pause marketing budgets. While the exact number of employees affected at LoopMe is not specified, the layoffs reflect the severe impact on the ad-tech sector, where multiple firms are taking similar actions to stay afloat during this economic crisis.

In April 2020, amid the financial pressures of the coronavirus pandemic, U.K. challenger bank Monzo announced the closure of its Las Vegas customer support office, resulting in 165 layoffs. These employees, who provided overnight support to Monzo's U.K. customers, represented a small portion of the company's then over 4 million customers, with their services deemed disproportionately costly for handling only 12% of queries. The decision, part of broader cost-cutting measures that included furloughs and salary reductions in the U.K., was accelerated by the economic downturn. Monzo, operating in the fintech industry as a fully licensed bank, offered affected staff two months' notice with full pay and healthcare support, while shifting overnight support operations to the U.K. This move did not impact its U.S. launch plans, as the Las Vegas team solely served U.K. clients.

In response to the COVID-19 pandemic, the Canadian e-commerce fine jewelry startup Mejuri has laid off approximately 36 employees, representing 15 percent of its workforce of 244. The company, founded in Toronto in 2015, has closed all its retail stores in cities like Toronto, New York, and Los Angeles due to government-mandated closures of non-essential businesses. The layoffs, confirmed in late March 2020, included a mix of temporary and permanent reductions, primarily affecting retail staff, while the online store continues to operate. This move reflects broader challenges in the tech and startup industry, as many companies faced significant disruptions during the pandemic.

CipherTrace on 2020-04-09.