Layoff Events

Brazilian real estate startup Loft laid off approximately 380 employees in April 2022, representing about 12% of its workforce at the time. The company, which operates a digital platform for buying and selling residential properties, cited a strategic restructuring and a need to adapt to a shifting global economic landscape as reasons for the workforce reduction. This move was part of a broader trend of cost-cutting and operational adjustments within the tech and proptech sectors during that period.

Vancouver-based FinTech company Mogo announced temporary layoffs affecting 30 percent of its staff, approximately 78 employees out of a total of around 260, as part of its response to the economic uncertainty caused by the COVID-19 pandemic. The decision, disclosed in late March 2020 alongside its 2019 financial report, aims to accelerate the company's shift to a capital-light model and achieve positive cash flow. Alongside the layoffs, Mogo is implementing organization-wide expense reductions, including compensation cuts for executives, and deferring growth investments in technology and marketing. The company, which provides digital financial services as a challenger to traditional banks, continues to support existing customers while pausing new on-balance-sheet loans to navigate the challenging economic environment.

Make School on 2020-03-27.

Bcredi on 2020-03-27.

GoSpotCheck laid off 23 employees representing approximately 20% of its workforce on 2020-03-26.

Fareportal laid off 200 employees on 2020-03-26.

Peerspace laid off 41 employees representing approximately 75% of its workforce on 2020-03-26.

Ecobee laid off 47 employees representing approximately 10% of its workforce on 2020-03-26.

Passport laid off 44 employees on 2020-03-26.

In March 2020, retail-as-a-service company B8ta laid off over half of its corporate workforce, affecting approximately 250 employees, as the COVID-19 pandemic severely disrupted the retail industry. The company also furloughed its store associates and implemented pay cuts for remaining staff. This drastic restructuring was aimed at preserving the business amid widespread store closures and shifting consumer spending. B8ta, which had recently expanded into fashion and lifestyle and secured significant funding, faced the same challenges as many retailers during the outbreak, highlighting the pandemic's brutal impact on non-essential retail sectors.

Clever Real Estate on 2020-03-25.

O'Reilly Media, a prominent publisher and conference organizer in the tech industry, laid off 75 employees on March 24, 2020, representing 15% of its then 500-person workforce. The company permanently shut down its in-person events business, citing the severe disruption caused by the COVID-19 pandemic, which forced the cancellation of major conferences like Strata. While the pandemic accelerated the decision, the events division had reportedly been struggling financially and missed targets prior to the outbreak. The layoffs primarily affected the conferences team but also extended to other roles, including editors, engineers, and several vice presidents. O'Reilly, known for its programming books and online learning platform serving thousands of companies, will now focus on its digital content and learning services.

Overtime laid off 30 employees representing approximately 23% of its workforce on 2020-03-25.

Lyric, an Airbnb-backed hospitality startup, is drastically downsizing due to the coronavirus pandemic's devastating impact on travel. In late March 2020, the company informed approximately 80 out of its 100 remaining employees—or 80% of its staff—that their jobs could not be guaranteed if the economic environment did not improve within two months. This followed a previous layoff of about 20% of its workforce in February. The San Francisco-based company, which had been operating nearly 600 furnished rental units across 14 cities, also plans to abandon most of its leased properties, retaining only a core location in New York City. The global health crisis caused a standstill in travel, leading to missed revenue targets and forcing severe operational cuts across the hospitality industry.

Jama laid off 12 employees representing approximately 5% of its workforce on 2020-03-25.

Clutter, an on-demand storage and moving company, laid off approximately 100 employees in early 2020, representing around 10% of its workforce at the time. The layoffs were part of a restructuring effort amid the COVID-19 pandemic, which significantly impacted the logistics and moving industry. Based in Los Angeles, Clutter was a venture-backed startup operating in the tech-enabled home services sector. The cuts were aimed at extending the company's financial runway and adapting to changing market conditions during the economic uncertainty.

TripActions, a Palo Alto-based corporate travel management software company, laid off 300 employees last week, representing 25% of its workforce. The cuts primarily impacted customer support, recruiting, and sales departments. The company attributed the layoffs to the severe decline in business travel due to the COVID-19 pandemic. The move drew criticism for its handling, as affected employees were notified via a group Zoom call.

Universal Standard, a fashion retail startup, laid off an unspecified number of employees as part of broader cost-cutting measures during the COVID-19 pandemic. The layoffs, reported in early April 2020, were driven by the severe impact of the coronavirus outbreak, which forced non-essential retail stores to close and led to a sharp decline in consumer spending. Like many other direct-to-consumer and retail startups at the time, Universal Standard faced unprecedented challenges, prompting difficult decisions to preserve business continuity. The company, operating in the competitive apparel industry, implemented layoffs alongside other austerity measures such as reduced advertising spend and executive pay cuts, reflecting the widespread strain on the burgeoning consumer startup sector during the global health crisis.

OutboundEngine laid off 52 employees representing approximately 28% of its workforce on 2020-03-25.

WanderJaunt laid off 56 employees representing approximately 23% of its workforce on 2020-03-25.

Wonderschool, a San Francisco-based startup that enables individuals to launch home-based preschools and daycares, has laid off 50 employees, representing a significant 75% of its total workforce. The drastic cuts, affecting all departments including Engineering and Partnerships, were driven by the severe impact of COVID-19 shelter-in-place orders, which led families to keep children at home and disrupted the company's core childcare programs. This industry-wide challenge forced the company to make these reductions to navigate the unprecedented downturn.

Toronto-based development agency Rangle.io has initiated temporary layoffs for 78 employees, representing approximately 30% of its current workforce of 246. This decision, announced in March 2020 amid the COVID-19 pandemic, is a response to severe financial pressures, including a slowdown or halt in client purchasing and new business efforts. CEO Nick Van Weerdenburg cited the pandemic's devastating impact on 2020 projections, noting that many companies are bringing work in-house or pausing external vendor relationships. This marks at least the third round of layoffs for Rangle in recent years, following cuts of 40 employees in January 2020 and 14 in 2018, as the tech agency navigates ongoing challenges to restructure and sustain operations during the global crisis.

SpotHero on 2020-03-24.

TravelBank, a corporate travel and expense management platform, conducted layoffs affecting an unspecified number of employees. The company, operating in the fintech and travel technology industry, reduced its workforce as part of broader cost-cutting measures amid challenging market conditions. While exact figures regarding the total employee count and percentage impacted are not detailed in available reports, the layoffs were confirmed through employee discussions on professional networks. This restructuring reflects ongoing pressures within the tech and travel sectors to streamline operations and improve financial sustainability.

Flowr representing approximately 25% of its workforce on 2020-03-24.

Zeus Living, a San Francisco-based startup offering furnished monthly rentals for business travelers, laid off 80 employees, representing 30% of its workforce. The cuts, which occurred recently, impacted all departments including engineering, product, and business roles. This significant reduction highlights the ongoing challenges within the proptech and travel-related sectors, particularly for companies scaling back operations amid shifting market conditions.

Sonder, a San Francisco and Denver-based short-term apartment rental company, laid off or furloughed 400 employees, representing 33% of its workforce across all departments. The drastic cuts, driven by a 20% decline in bookings across its 5,000 apartments due to the coronavirus pandemic's impact on travel, highlight the severe challenges facing the hospitality and tech-enabled rental industry. The company, which had raised $360 million and achieved a valuation over $1 billion, was forced into this restructuring as the global health crisis decimated demand.

Foodsby laid off 87 employees representing approximately 67% of its workforce on 2020-03-24.

Takl laid off 130 employees on 2020-03-24.

Peerfit representing approximately 40% of its workforce on 2020-03-24.

The Guild laid off 38 employees representing approximately 22% of its workforce on 2020-03-23.

Leafly laid off 91 employees representing approximately 50% of its workforce on 2020-03-23.

Zwift, a sports technology company in the fitness and gaming industry, laid off a number of employees on March 20, 2020, as part of a strategic reorganization to focus on developing new hardware. While the exact number of affected employees and the total workforce size were not disclosed, the layoffs primarily impacted executive and director-level positions, including roles like VP of Running and Director of Global Business Development. Zwift emphasized that the decision was not driven by external factors like COVID-19 or financial concerns but aimed to support growth in its core subscription business and hardware development. The company provided severance packages to those laid off, maintaining that it remains financially healthy.

In late March, Compass, a real estate brokerage firm, laid off 375 employees, which represents 15% of its workforce. The layoffs affected all departments and were a direct response to the COVID-19 pandemic, which caused a significant 60% drop in property showings as people stayed home. This move reflects broader challenges in the real estate industry, with other startups like Redfin and Blueground also implementing workforce reductions during the same period.

Triplebyte, a recruiting platform that matches engineers with tech companies, has laid off 15 employees, representing 17% of its workforce. The cuts, which occurred in San Francisco, primarily affected the customer success and technical writing teams, with the talent manager role being eliminated entirely. According to a former employee, these layoffs are linked to a strategic product shift rather than the coronavirus pandemic. This restructuring follows the departure of founder Harj Taggar as CEO five months earlier, signaling ongoing changes within the company.

Convene, a New York City-based provider of flexible office space, laid off 150 employees last month, representing 18% of its workforce. The company had already closed all of its physical locations due to the impact of the coronavirus pandemic, which has severely affected the coworking industry. This move aligns with similar layoffs at other coworking startups like WeWork, Knotel, Industrious, and The Wing, as the sector grapples with reduced demand for shared office spaces amid widespread remote work and economic uncertainty.

Cabin representing approximately 20% of its workforce on 2020-03-23.

Peek, a travel activities marketplace, laid off 45 employees in March, primarily affecting business roles at its Salt Lake City office. This reduction represents a significant portion of the workforce, though the exact total employee count and percentage are not specified. The layoffs are part of a broader trend of restructuring within the tech and travel industries, as companies adjust to post-pandemic market conditions and economic pressures. Peek operates as a mid-scale platform connecting travelers with local tours and activities.

Service, a travel savings startup, shut down on March 20, 2020, citing the severe economic downturn and COVID-19 pandemic that devastated the travel industry. The company, which had raised $5.1 million since its 2015 launch, never achieved profitability despite recovering over $4 million for customers. Its closure followed the collapse of both a critical fundraising round and a potential acquisition, directly linked to the travel sector's tailspin. While the exact number of employees affected isn't specified, the entire team was impacted as the company wound down operations, highlighting the vulnerability of travel-focused startups during the crisis.

Vacasa on 2020-03-20.

Flywheel Sports laid off 784 employees representing approximately 98% of its workforce on 2020-03-20.

Yonder laid off 18 employees on 2020-03-20.

Ejento laid off 84 employees representing approximately 100% of its workforce on 2020-03-19.

Lola, a corporate travel management startup, laid off 34 employees, representing 29% of its workforce, as one of the early direct impacts of the coronavirus pandemic on the tech industry. The company, which has raised $82 million from notable investors like Accel and General Catalyst, now retains 82 employees. This reduction affected all departments, highlighting the severe and immediate disruption COVID-19 caused to the travel sector.

Remote Year, a Chicago-based startup that organizes year-long work-and-travel programs, laid off approximately 50 employees, representing 50% of its staff, in March 2020. The drastic cuts were a direct response to the COVID-19 pandemic, which caused borders to close and led to a wave of cancellations, halving the company's revenue within days. Operating in the travel and remote work industry, the venture-backed company had raised $17 million total, including a $5 million round just months prior. Despite the layoffs, primarily affecting sales, marketing, and product teams, the company stated it retained some financial runway from its last investment.

Bounce laid off 120 employees on 2020-03-19.

Tuft & Needle, a direct-to-consumer mattress company, laid off a portion of its retail staff and temporarily closed all six of its physical stores in March 2020 due to the COVID-19 pandemic. The layoffs affected retail employees as the company shifted back to its primarily online operations amid widespread lockdowns. While the exact number of employees let go was not specified, the company expressed hope to rehire them once stores could safely reopen. This move reflected broader challenges faced by digitally-native brands with brick-and-mortar expansions during the health crisis.

Popin, a pay-by-the-minute fitness app that connected users to boutique gyms in New York City, has shut down entirely amid the coronavirus outbreak in March 2020. The company, which operated in the fitness technology industry as a small startup, informed users via email that the app was no longer available, effectively ceasing operations. While the exact number of employees laid off was not disclosed, the closure resulted in the loss of all jobs as the company wound down. The shutdown was directly linked to the pandemic's severe impact on gyms and fitness-related services, which faced widespread closures and reduced demand. Popin, which had raised a single angel funding round in 2018, cited no specific reason in its announcement but operated in a sector hit hard by the crisis, leading to its abrupt demise.

In March 2020, Israeli facial recognition company Anyvision conducted layoffs, reportedly affecting around 10% of its workforce. The company, which had raised significant venture capital, cited a strategic shift and the need to focus on core products amid the early economic uncertainties of the COVID-19 pandemic. Operating in the competitive AI and surveillance technology industry, Anyvision aimed to streamline operations and reduce costs, moving away from less profitable projects. The layoffs were part of a broader restructuring to ensure long-term sustainability and adapt to changing market demands.

Flytedesk, a Boulder-based startup specializing in college campus and newspaper advertising, laid off four employees on Friday, representing 20% of its approximately 20-person workforce. The cuts were a direct response to the coronavirus pandemic, which has forced widespread campus closures and a shift to online classes, severely impacting the company's core business model. CEO Alex Kronman stated the layoffs were a necessary measure to plan for the future, emphasizing that the move was limited and that the company is now focused on supporting its advertisers and college media partners. The affected employees were offered severance packages and healthcare. Founded in 2015, Flytedesk has raised nearly $5.4 million in funding and works with 2,300 college campuses nationwide.