Tech Company Layoffs: The COVID Tech Bubble Bursts

When much of human activity moved online during the height of the pandemic, tech companies were thriving. Call it the COVID tech bubble. Now we’ve hit the COVID tech bust.

By the second half of 2022, tech companies had initiated significant layoffs -- something that had followed an extended period of frenzied tech hiring and attention to employee experience. Standard explanations for the cuts were that companies hired too many during the pandemic and they were looking at the specter of a recession in the months ahead. It sounds a lot like the dot-com boom and bust of yore. Not all companies are impacted equally. It’s the ones that hired at an accelerated rate during the boom that seem to be hitting the brakes right now.

At the same time, IT pros with cybersecurity, cloud, and data analytics/machine learning skills have remained in high demand so far.

In this space, InformationWeek will document some of the more significant layoffs, updated regularly. Be sure to check back.

Here's a look at the biggest tech layoffs so far:

Related:2023 IT Salary Report: Pay Increases Despite Economic Pressures

December 2024 Tech Layoffs

Carousell, December 6, 2024 announcement. Layoff of 76 people, 7% of workforce.

The Singapore-based e-commerce platform announced on Friday that it is laying off 7% of its workforce across its regional offices, according to Channel News Asia. The restructuring move will impact 76 employees from both business and technology departments and enable “long-term sustainability and operational efficiency” at Carousell. “This reorganisation was done proactively to adjust our group strategic choices to match the market reality in some business units, and to reallocate resources to areas that are showing promise,” said a Carousell spokesperson. According to the report, 60% of the affected roles are based in Singapore, with the remaining spread across its other offices. Carousell has offices across eight locations in Southeast Asia, India, Hong Kong and Taiwan. 

Circle, December 5, 2024 announcement. Layoff of 50 people, 6% of workforce.

Circle Internet Financial, issuer of the world's second-largest stablecoin, USD Coin (USDC), has initiated layoffs as part of a regular review of its operations, according to CoinDesk. The layoffs will impact “less than 6% of Circle's workforce,” according to Bloomberg, which broke the news. Circle confirmed the figure in an email, which will impact more than 50 employees. “Circle regularly reviews our investments and expenses [which] includes investing in teams and operational infrastructure that need to grow, while marginally reducing spend and some roles in other areas of the business,” the company said in the email.

Vox Media, December 5, 2024 announcement. Layoff total TBA.

The digital media company is initiating an undisclosed number of layoffs and a major restructuring of its lifestyle properties, according to ADWEEK. Vox Media’s restructuring will primarily impact the titles Thrillist, PS (formerly PopSugar), and Eater, including the media production and technology team, CEO Jim Bankoff wrote to staff on Thursday. “The pace of change is accelerating for media businesses, and it is essential to our success that we continuously evaluate how and where we invest to serve our audiences best to advance the long-term health of our business,” Bankoff wrote. “In particular, the ways audiences are interacting with our Thrillist and PS brands have changed, and we must adapt.” According to the report, Thrillist will now be operated by Eater, a similar model to the relationship between Eater and the bar and spirits publisher Punch. The two will share leadership and resources.

Stash, December 4, 2024 announcement. Layoff of 88 people, 40% of workforce.

On Oct. 8, fintech startup Stash announced that its cofounders, who started the company in 2015 and had their roles reduced last year, were returning to lead the company they created, according to Yahoo Finance. However, there was reportedly one crucial detail left out of the announcement: Stash was also restructuring and laying off 40% of its 220-person workforce, including at least three of its executives, according to three people familiar with the matter and confirmed by Stash. This was the second mass layoff initiated at the company this year. The restructuring moves arrive just weeks after its CEO since 2023, Liza Landsman, suddenly left at the end of September. As a result of Landsman’s departure, Stash’s board, mostly filled by the company’s venture capital investors, approached cofounders Ed Robinson and Brandon Krieg to run the company as co-CEOs, Robinson tells Fortune. Stash hasn’t eliminated any of its products, and its employees are still working on the same tasks, albeit with smaller teams. “We just really wanted to try to remove a lot of the layers and just refocus the company,” Robinson said.

Booking Holdings, December 4, 2024 announcement. Layoff of 60 people.

The Connecticut-based travel company announced Friday that it will make several “organizational changes,” including an undisclosed number of layoffs, according to Yahoo Finance. According to a report from Skift, Booking Holdings laid off about 60 employees at one of its B2B units, Rocket Travel by Agoda, as part of the company's recent efforts to reset its global priorities. These moves are designed to streamline Rocket Travel’s business operations. “We believe these efforts will improve operating expense efficiency, increase organizational agility, free up resources that can be reinvested into further improving our offering to both travelers and partners, and better position the Company for the long term,” Booking Holdings said in a statement.

2U, December 4, 2024 announcement. Layoff total TBA.

Today, interim CEO Matt Norden announced the company will eliminate its traditional bootcamps and reportedly transition to “innovative technical microcredentials,” according to Class Central. While 2U has yet to confirm the total number of cuts, impacted employees shared the restructuring news through posts on LinkedIn and industry forums. Norden’s announcement appears to signal a shutdown of 2U’s Trilogy division. Stay tuned.

Lightspeed Commerce, December 2, 2024 announcement. Layoff of 200 people.

As part of a strategic review of its business, the Canadian commerce platform on Monday said it will lay off about 200 employees, according to MarketWatch. However, the cuts won't impact or inhibit the strategic review. Lightspeed reportedly initiated the restructuring plan to prioritize resources for strategic areas of the business, improve its growth opportunities, and redefine the organizational structure and its operations. This is the second round of cuts at the company this year. In April, Lightspeed laid off about 280 employees as part of a restructuring of costs at its facilities and throughout its operations.

November 2024 Tech Layoffs

AlphaSense, November 27, 2024 announcement. Layoff of 150 people, 8% of workforce.

After acquiring data provider Tegus, market-research startup AlphaSense laid off 150 employees as part of a restructuring, according to Bloomberg Law. The cuts will impact 8% of AlphaSense’s workforce as the company reportedly looks to eliminate redundancies and streamline business operations. “This decision helps ensure the company’s long-term success, and its stability and growth moving forward,” an AlphaSense spokesperson said in an emailed statement to Bloomberg Law.

Ola Electric, November 22, 2024 announcement. Layoff of 500 people.

CEO Bhavish Aggarwal has initiated a restructuring plan that includes layoffs that will impact more than 500 employees across several departments, according to Tech in Asia. Ola Electric’s plan through this initiative is to improve its profit margins. Previously, in July 2022, Ola Electric reportedly let go of nearly 1,000 employees while closing its used cars, cloud kitchen, and grocery delivery businesses to focus on electric vehicles.

Adjust, November 22, 2024 announcement. Layoff of 304 people.

Amid an effort to combat redundancies, AppLovin-owned mobile app measurement and marketing company Adjust has laid off 304 employees, according to PocketGamer. At this time, it remains unclear how many staff and what departments were impacted. According to a recent WARN notice filed in California about two weeks ago, AppLovin said it was laying off 120 staff. According to PocketGamer’s report, a filing on October 15 said 58 employees would be laid off, while another on October 3 cited 65 cuts. In addition to these filings, one further back on August 14 noted 61 layoffs. Currently, it remains unknown if the redundancies are related and whether these are separate job cuts are part of the same round of layoffs.

Hopper, November 22, 2024 announcement. Layoff of 65 people, 10% of workforce.

The online travel agency initiated a restructuring this month that included a workforce reduction that will impact 10% of its staff, according to Skift. This is Hopper’s second round of cuts in just over a year. Hopper’s latest restructuring is set to impact 60-65 employees. The direct hotel team was affected the most as it parted with about 20 employees.

LinkedIn, November 21, 2024 announcement. Layoff of 202 people, 1% of workforce.

The job and social networking site has laid off 202 employees in its latest round of cuts amid a weaker tech job market, according to The Information. LinkedIn is owned by Microsoft but operates independently in Sunnyvale and has offices in San Francisco. According to the report, employees working in engineering and customer service were impacted by the restructuring, though LinkedIn is still hiring in those departments. “We’re making changes within teams at LinkedIn to align our organizational structures and work to our strategic priorities and to support our customers. We are committed to providing our full support to impacted employees and ensuring that they are treated with care and respect,” a company spokesperson said.

Headspace, November 20, 2024 announcement. Layoff of 13% of workforce.

CEO Tom Pickett announced a 13% workforce reduction in an email to staff as Headspace embarks on a company “reset” to ultimately “return to our roots by driving innovations in both technology and care models that disrupt existing systems,” according to Behavioral Health Business. The digital mental health platform is eliminating its staff therapist corps, though an exact headcount remains unclear. In addition to the cuts, Headspace will transition Chief Product and Design Officer Leslie Witt and Chief Purpose Officer Dr. Wizdom Powell to advisory positions. “We recently made organizational changes at Headspace that aim to accelerate the evolution of our product and service offerings and position the business for continued, sustainable growth,” a company representative said in a statement. However, Pickett had a much different outlook on Headspace’s costs and revenue metrics.

“We believe that we are uniquely positioned to leverage the Headspace brand, our vast content and self-help capabilities, and our human care delivery network to stitch together unique, tech-enabled experiences that deliver superior outcomes at lower costs,” Pickett said. “To achieve that, we need to align our cost structure with our revenue base, while creating the opportunity to invest in the capabilities that will drive us forward.” The restructuring move reportedly arrives just four months after Headspace appointed Picket to the role of CEO.

Own, November 19, 2024 announcement. Layoff total TBA.

After acquiring the data management startup Own for about $2 billion, Salesforce Inc. is planning to lay off employees at the company since various roles will not be required “post harmonization,” according to Bloomberg. The restructuring was announced to employees of Own in a presentation this week. According to the report, the end date will be Jan. 31 for employees in those positions, while other jobs will be “transitional” and needed for three to 12 months to support the integration on a fixed short-term basis. The business move was Salesforce’s biggest acquisition since Slack. The $1.9 billion merger reportedly includes about 1,000 workers at Own. Stay tuned.

TrueLayer, November 15, 2024 announcement. Layoff of 71 people, 25% of workforce.

The London-based fintech firm laid off about 25% of its workforce in just one day as part of its plan to cut operating costs and reach profitability, according to City AM. The impacted employees reportedly left TrueLayer on the same as the announcement after attending a team meeting that was scheduled just two hours before they were informed of the restructuring. Though a spokesperson for Truelayer declined to comment on the details about the cuts, they said its latest funding round marked “yet another vote of confidence in our company.” “At the same time, we also announced important steps to chart our path toward profitability, including streamlining operational costs and a reduction in headcount which took place in September,” the spokesperson added.

Siemens, November 14, 2024 announcement. Layoff of 5,000 people.

CEO Roland Busch announced that Siemens could lay off up to 5,000 employees globally in its struggling factory automation business, according to Reuters. “Sometimes we have to do some re-engineering because the developments weren't as positive as we expected them to be,” said Busch after Siemens reported a 46% decrease in profit at its flagship digital industries business. “This means we are going to have a low- to medium-sized four-digit amount which will affect some areas,” Busch said. While the total number of impacted employees has yet to be confirmed, Busch reportedly added that he saw long-term potential for the automation market, because of shrinking populations and the low level of mechanization at small and medium-sized companies. Stay tuned.

AMD, November 13, 2024 announcement. Layoff of 1,000 people, 4% of workforce.

In an effort to increase its leverage in the booming AI chip industry where Nvidia is king, AMD announced on Wednesday that it will lay off 1,000 employees, or 4% of its global workforce, according to CNBC. “As a part of aligning our resources with our largest growth opportunities, we are taking a number of targeted steps that will unfortunately result in reducing our global workforce by approximately 4%,” an AMD representative said in a statement. Currently, AMD’s largest growth opportunity is presented by AI. The company is the second-biggest producer of graphics processing units, or GPUs, behind Nvidia.

AppLovin, November 13, 2024 announcement. Layoff of 120 people.

After experiencing a scorching hot stock market run this year, the Palo Alto-based advertising software company announced it is laying off 120 employees in a WARN notice on Wednesday, according to SFGate. The restructuring announcement arrives just one week after AppLovin basked in the glow of an enormous $41-billion-in-two-days rally in market value. According to the report, AppLovin’s value has increased by more than 600% since January, and, as of Friday, it was worth just under $98 billion. While the company has yet to disclose the reasoning behind the cuts, three vice presidents are reportedly among the layoffs, plus nine directors, more than 24 software engineers and a variety of other workers. In addition to these roles, employees at AppLovin subsidiaries Lion Studios, Wurl and MZ Games were also impacted.

Chegg, November 12, 2024 announcement. Layoff of 319 people, 21% of workforce.

The e-learning company is laying off 319 employees, according to The Wall Street Journal. The cuts will account for 21% of Chegg’s workforce, and the company expects to fall short of its previously announced financial targets for 2025. According to the report, AI tools continue to negatively impact its online homework solutions business. CEO Nathan Schultz said the popularity of ChatGPT and the introduction of AI summaries in Google search were weighing on Chegg’s revenue expectations. In addition, Schultz said web traffic from non-subscribers declined 37% in October compared to the same month last year.

Forward, November 12, 2024 announcement. Layoff of entire workforce.

The health tech startup is shutting down just one year after raising $100 million in funding to support its CarePods rollout, according to Business Insider. That fundraise pushed Forward’s total funding over $650 million. At least 200 employees will be impacted by the move. The company announced the closure on Tuesday, in addition to sending a late-night email to its patients saying it would immediately close all its locations, cancel scheduled visits, and cut off access to its mobile app. Forward’s clinical team is reportedly available by email until December 13 for remaining patient support. The company was founded in 2017 by several high-profile executives from Google and Uber and aimed to disrupt primary care with tech-enabled, ultramodern clinics. However, an AI-powered doctor-in-a-box became its priority in mid-2023.

New Relic, November 12, 2024 announcement. Layoff total TBA.

Just one year after going private in a $6.5 billion private equity deal, the San Francisco software maker initiated its second round of layoffs this year, according to Business Journals. While New Relic has yet to confirm a workforce reduction, the cuts are reportedly part of a company reorganization that will impact engineering, product and design teams. Former employees of New Relic posted messages on LinkedIn acknowledging their departure from the company. Stay tuned.

Enphase Energy, November 11, 2024 announcement. Layoff of 500 people, 17% of workforce.

The Fremont-based solar technology and electric vehicle charger company is laying off 500 employees amid slumping conditions in the solar and battery industries, according to SFGate. In a Friday filing with the Securities and Exchange Commission, Enphase announced that 17% of its global workforce would be impacted, including contractors. In addition to the cuts, the company will reportedly continue to consolidate its manufacturing business. Enphase’s latest round of layoffs arrive less than one year after it cut 10% of its workforce, due to regulatory changes and low consumer demand for solar technology amid high interest rates. Unfortunately, it appears these challenges are still plaguing the tech giant. “We are decreasing spending in every department by reducing headcount, non-people related expenditures, or both,” CEO Badri Kothandaraman wrote in a memo to staff. “These actions are not a reflection of poor employee performance, but we believe they are necessary in the current market environment.”

23andMe, November 11, 2024 announcement. Layoff of 200 people, 40% of workforce.

The genetic testing firm said on Monday it is laying off 200 employees and discontinuing further development of all its therapies as part of a restructuring program, according to CNN. The restructuring will impact 40% of 23andMe’s workforce, as the company reportedly evaluates strategic alternatives, including licensing agreements and asset sales, for its therapies in development. “We are taking these difficult but necessary actions as we restructure 23andMe and focus on the long-term success of our core consumer business and research partnerships,” said CEO Anne Wojcicki regarding the cuts. According to the report, Wojcicki has been trying to take the company private since April and is facing a tough challenge after independent directors of 23andMe resigned in September, after not receiving a satisfactory take-private offer from the CEO.

Monarch Tractor, November 8, 2024 announcement. Layoff of 35 people, 10% of workforce.

The California-based autonomous electric tractor startup that raised a total of $220 million since being founded in 2018 is laying off 10% of its workforce, according to TechCrunch. In addition to the cuts, Monarch Tractor is reportedly restructuring its business to prioritize non-agricultural customers, license its autonomous technology, and boost sales of its AI-powered farm management software. This is the second round of layoffs at Monarch this year after it parted ways with 15% of its workforce in July. Engineering and operations teams were impacted most by the cuts.

CEO Praveen Penmetsa told TechCrunch in an interview the company decided to restructure after a slower-than-expected third quarter, and despite raising $133 million in July from the likes of Foxconn and agri-food tech impact firm Astanor. “The industry has slowed down on acquisition of new equipment and new solutions, especially in the core farming sectors,” Penmetsa said. “But in the meantime, as a platform company, we also have some very exciting non-agriculture opportunities that started sprouting because of our success in ag.”

BigCommerce, November 8, 2024 announcement. Layoff total TBA.

After cutting 13% of its staff in 2022 followed by 7% in 2023, the Austin-based tech company is laying off employees for the third straight year, according to the Business Journals. In addition to the workforce reduction, BigCommerce is reportedly exiting some of its real estate positions and discontinuing some software projects. While the company has yet to confirm the number of employees impacted by the restructuring, it did replace longtime CEO Brent Bellm recently. “Despite our growth and many achievements over the last several years, our operational performance has fallen short of expectations,” Ellen Siminoff, executive chair of the board, said in a Nov. 7 earnings call. During that call, the company said that the move is aimed at better aligning operating expenses with current economic conditions and its priorities.

Booking.com, November 8, 2024 announcement. Layoff of entire workforce.

The Connecticut-based travel company is restructuring its organization and laying off an undisclosed number of employees, according to Skift. Booking.com released a statement on Friday confirming the reorganization of its business that stated: “On November 8, 2024, Booking Holdings Inc. (the “Company”) announced its intention to implement certain organizational changes, including modernizing processes and systems, an expected workforce reduction, optimizing procurement, and seeking real estate savings.” One of the major challenges affecting the company is that growth in operating expenses has outpaced revenue growth. According to the report, Booking.com will likely attempt to reset its priorities in tech investments to stay competitive. Those priorities include its payments platform, fintech and generative AI. Stay tuned.

Exosonic, November 8, 2024 announcement. Layoff of entire workforce.

The startup known for developing supersonic commercial air travel and UAV tech is shutting down business after five years of operation, according to TechCrunch. While the total number of impacted employees has yet to be confirmed, Exosonic’s LinkedIn account claimed 10 employees. “Although the founders and team still believe in the need/desire for quiet supersonic flight and supersonic drones for the US Department of Defense, without further customer support for either concept, the company cannot sustain the cash needs to make further advancements,” Exosonic said in an update posted to its website.

Freshworks, November 7, 2024 announcement. Layoff of 660 people, 13% of workforce.

In an effort to streamline operations, SaaS platform Freshworks announced layoffs that will impact 13% of its global workforce, according to Entrackr. The restructuring move is set to be completed by the end of the year and will cause 660 employees to lose their jobs. Freshworks reportedly has over 5,000 employees across India, Germany, France, the US, the UK, and the UAE. “We began by combining teams focused on Customer Experience (CX) products, including support, sales, and marketing, and reallocating people and investments to prioritize our fastest growing Employee Experience (EX) business. These decisions were made thoughtfully and carefully to set a strong foundation for our future,” said Dennis Woodside, CEO of Freshworks, in a stock exchange filing.

Just Eat, November 7, 2024 announcement. Layoff of 300 people, 2% of workforce.

The Amsterdam-based company is laying off 300 employees globally to “fuel sustainable growth and enhance operational efficiencies,” according to Daily Mail. Roles were reportedly eliminated in 11 of its regions worldwide and across staff in customer service, products, technology, human resources, sales, marketing and logistics. The workforce reduction will account for 2% of Just Eat’s staff. The move arrives as Just Eat battles tough competition from rivals Uber Eats and Deliveroo as the trio gears up to battle for delivery orders leading up to Christmas. According to the report, redundancies came after Just East carried out a regular review of its cost base and operations, which is part of its growth strategy.

Opendoor, November 7, 2024 announcement. Layoff of 300 people, 17% of workforce.

Opendoor announced a reorganization and 17% workforce reduction on Wednesday that is “aimed at prioritizing strategic growth initiatives, flattening reporting structures, and driving efficiencies,” according to a corporate blog post. The company expects to save approximately $50 million on an annualized basis because of the move. “This reduction, combined with progress we’ve been making across other cost saving measures, are necessary as we aim to reach Adjusted Net Income profitability. We expect these actions will still allow us to scale effectively while continuing to deliver the same seamless, simple, and customer-centric experience that Opendoor is known for,” the company wrote in the post.

Akamai, November 7, 2024 announcement. Layoff of 250 people, 2% of workforce.

CEO Tom Leighton said Thursday that the company cut approximately 2.5% of the current roles across the company, according to the Boston Business Journal. “We believe that redeploying these resources will enable us to grow while still maintaining our near-term operating margin target,” Leighton said during a call with analysts, part of Akamai's third-quarter financial results. Christine Simeone, a spokesperson for Akamai, reportedly said in an email that the role eliminations were part of “a broader effort to accelerate our momentum in cloud computing and maintain strong growth in security.” According to the report, Simeone did not answer questions related to the geographical or organizational details of the cuts, noting they happened “globally.”

ShareFile, November 7, 2024 announcement. Layoff of 199 people.

ShareFile’s new owner announced layoffs that will impact nearly 200 employees just five days after it acquired the North Carolina-based software company, according to The News & Observer. According to the report, Massachusetts-based Progress Software Corp. informed the North Carolina Commerce Department on Tuesday it intends to cut 199 positions at ShareFile’s main office in downtown Raleigh. The layoffs will made in phases, with most occurring in January or February but continuing through next June. “Progress acquired the ShareFile business from Cloud Software Group because we value the business and culture that they have created,” Progress spokesperson Erica McShane said in an email to The News & Observer. “To continue this success and integrate the business into Progress, we had to make some difficult decisions about the go-forward organization, which means not everyone will be able to stay with Progress long-term.”

Personio, November 7, 2024 announcement. Layoff of 115 people, 6% of workforce.

Co-Founder and CEO Hanno Renner announced layoffs that will impact 115 employees in a company blog post on Tuesday. In addition to the staff restructuring, Personio is undergoing several changes across its organizational structure, spending and operations. “To ensure a healthy financial position for the future and remain on a path to profitability, we need to reduce our costs & create operational efficiencies,” Henner wrote in the memo. “We will increase focus on operations and reallocate investment to areas that have been underserved.  These include areas like Systems and Data which are a common pain point for many teams and have led to inefficiencies in our execution, raised by many of you in the recent Pulse Survey.” The cuts will impact 6% of its workforce.

iRobot, November 6, 2024 announcement. Layoff of 105 people, 16% of workforce.

In an SEC filing on Tuesday, Roomba maker iRobot announced it will lay off 16% of its workforce, according to TechCrunch. iRobot is reportedly navigating its “operational restructuring plan,” which will impact 105 employees. This is the second round of cuts initiated after iRobot parted with 350 employees earlier this year, or 31% of its workforce at the time. Those cuts were made after plans for an Amazon acquisition totaling $1.7 billion fell through. The companies mutually terminated the agreement, reportedly noting that they didn’t see a path to regulatory approval in the European Union. iRobot received a $94 million termination fee from Amazon as a result.

Outreach, November 5, 2024 announcement. Layoff of 67 people, 9% of workforce.

Outreach is laying off 9% of its workforce to cut costs, according to GeekWire. The restructuring will reportedly impact at least 67 employees globally, though no offices will be closed because of the move. Outreach has initiated several rounds of layoffs over the past few years, including a 12% workforce reduction in September 2023.

Avaya, November 6, 2024 announcement. Layoff total TBA.

After laying off 180 employees in July, Avaya has initiated a second round of “deep” cuts, according to Zeus Kerravala, principal analyst at ZK Research, and CX Today. The company has yet to make an official statement to confirm the cuts and number of impacted employees. Having sat on a briefing call with Avaya’s senior management, Kerravala expects some reallocation, and that Avaya will staff up in areas like account management for larger customers. “The result will be a net reduction,” Kerravala said. “But with reallocations to support Avaya’s G1500 (top 1,500 global clients).” Stay tuned.

Mozilla, November 5, 2024 announcement. Layoff of 60 people, 30% of workforce.

The Mozilla Foundation, the nonprofit arm of the Firefox browser maker Mozilla, has laid off 30% of its workforce amid a “relentless onslaught of change,” according to TechCrunch. Mozilla Foundation’s communications chief Brandon Borrman reportedly confirmed the layoffs in an email. “The Mozilla Foundation is reorganizing teams to increase agility and impact as we accelerate our work to ensure a more open and equitable technical future for us all. That unfortunately means ending some of the work we have historically pursued and eliminating associated roles to bring more focus going forward,” read the statement shared with TechCrunch.

This is the second round of layoffs at Mozilla this year, after it parted with 60 employees back in February. The latest round of cuts was reportedly announced in an email to staff on October 30. The Mozilla Foundation’s executive director Nabiha Syed confirmed that two of the foundation’s major divisions — advocacy and global programs — are “no longer a part of our structure.”

Maven Clinic, November 1, 2024 announcement. Layoff of 60 people, 10% of workforce.

Just three weeks after raising a $125 million Series F round at a $1.7 billion valuation, the women’s health tech startup company laid off 10% of its workforce on Monday, according to Endpoints News. Maven’s restructuring move will impact at least 60 employees. “As we look ahead to Maven’s next chapter, this was an important step in realigning our cost and organizational structure to focus our investments on the areas that will most effectively advance our mission,” a Maven Clinic spokesperson told Endpoints in a statement.

Bowery Farming, November 1, 2024 announcement. Layoff of entire workforce.

The agtech company backed by General Catalyst, GV, Temasek, and Fidelity Management is ending all business operations and laying off its entire workforce, according to a document seen by Pitchbook. Every staff site, including its indoor farming facilities, will be closed and employees laid off effective immediately, according to the report. Though Bowery Farming told staff that it had been actively trying to secure financing or sell the company, it was ultimately unsuccessful in reaching a deal. The closing will impact more than 500 employees, according to Bowery's LinkedIn account.

October 2024 Tech Layoffs

Tidal, October 31, 2024 announcement. Layoff of 528 people, 20% of workforce.

Block CEO Jack Dorsey announced that music streaming platform Tidal is returning to the style of a startup company, with fewer employees, according to Engadget. Block has been Tidal’s parent company since 2021, and owns Cash App, After Pay, and BitKey. “We're going to lead with engineering and design and remove the product management and product marketing functions entirely,” Dorsey told staff in his memo. “We're reducing the size of our design team and foundational roles supporting Tidal, and we will consider reducing engineering over the next few weeks as we have more clarity around leadership going forward.” While Dorsey reportedly did not confirm the total number of cuts, company sources estimate that 100 employees will be impacted.

Dropbox, October 30, 2024 announcement. Layoff of 528 people, 20% of workforce.

In a memo to employees on Wednesday, CEO Drew Houston announced that Dropbox is in a “transitional period” and reducing its global workforce by 20%, according to TechCrunch. As a result of the restructuring, 528 employees will be laid off. “We continue to see softening demand and macro headwinds in our core business. But external factors are only part of the story. We’ve heard from many of you that our organizational structure has become overly complex, with excess layers of management slowing us down,” Houston said in the memo. According to the report, Dropbox has struggled to grow in recent months, losing market share to rivals, including Box and Google Drive. In addition, Houston said that Dropbox plans to share more details on high-level changes and its 2025 strategy soon.

Kraken, October 30, 2024 announcement. Layoff of 400 people, 15% of workforce.

Despite a surging Bitcoin price that almost reached an all -time high on Tuesday, The San Francisco-based exchange announced in a public blog post it had made moves to become a leaner company on Wednesday, according to Decrypt. While Kraken did not confirm the number of impacted employees in the post, New York Times tech reporter Mike Issac said on Twitter (X) that Kraken had cut 15% of its staff, citing two people at the company.

In addition, Arjun Sethi has joined Kraken as co-CEO alongside David Ripley. Alongside the appointment, Kraken framed the layoffs as a pivot for the crypto firm. “To continue forging our path ahead and put Kraken in contention to become the largest crypto platform in the world, we need to be leaner and faster,” the company said in a statement. “We are making organizational discipline decisions to tackle this problem and eliminate layers. We need to make sure our top contributors are focused on building rather than managing.” Last week, Kraken announced a new Ethereum layer-2 blockchain, known as Ink.

Miro, October 30, 2024 announcement. Layoff of 275 people, 18% of workforce.

To simply its structure, Miro is laying off 18% of its workforce amid slumping demand, according to The Information. There will be 275 employees losing their jobs at the digital collaboration platform company as a result of the move.

ConseSys, October 29, 2024 announcement. Layoff of 100 people, 2% of workforce.

ConsenSys announced on Tuesday that it has laid off 20% of its global workforce, according to Decrypt. While the crypto economy is slowly recovering, Ethereum’s price has reportedly remained stagnant for months. According to a company spokesperson, Consensys plans to pull back and focus on supporting proven “core” winners in its portfolio, which include the crypto wallet MetaMask and Ethereum layer-2 network Linea. “Looking ahead, I see a next-generation economy not dominated by large monolithic companies; instead, smaller, agile, AI-supercharged companies with Web3-based coordination tools will operate more efficiently,” Consensys CEO and Ethereum co-founder Joe Lubin said in a blog post.

F5, October 29, 2024 announcement. Layoff of 100 people, 2% of workforce.

F5 renewed its annual workforce reduction practice after the completion of its fiscal year, confirming Tuesday that it has laid off 2% of its global workforce, according to GeekWire. F5’s restructuring impacted roles across several teams, which reportedly include technology services, sales, customer support, and process management. At least 100 employees were cut as a result of the move. “These changes are a part of a broader effort to align resources to our highest priority areas and ensure we are best positioned to meet the continually evolving needs of our customers and our business,” a company spokesperson told GeekWire via email.

dYdX, October 25, 2024 announcement. Layoff of 35% of workforce.

After returning to his role on Oct. 10, CEO Antonio Juliano decided to cut 35% of dYdX’s workforce on Wednesday, according to Coin Telegraph. “The decision to let go was a realization that the company we’ve built is different from the company dYdX must be. We will move forward with clarity and renewed passion. We will create amazing things,” Juliano said. The firm is behind the decentralized crypto exchange.

Coursera, October 25, 2024 announcement. Layoff of 150 people, 10% of workforce.

The edtech platform is laying off 10% of its workforce to reallocate resources, according to Class Central. The move is in response to fewer people renewing their subscriptions, particularly in regions outside North America. In addition, several government programs that reportedly funded online learning during the pandemic are ending. On the bright side, Coursera’s consumer segment surpassed $100M in revenue for the first time in Q3 2024.  

Kyte, October 25, 2024 announcement. Layoff of 40% of workforce.

Amid an ongoing effort to survive after exploring a sale earlier this year, the rental car startup is exiting almost all of its major markets in the US and has cut between 40% and 50% of its workforce, according to TechCrunch. Engineering, consumer, and growth product teams were impacted most. Kyte is reducing its operations to focus only on San Francisco and New York City (including Jersey City) as it works to reach profitability in the next 18 months, CEO Nikolaus Volk said to TechCrunch. Other major markets that Kyte has been pulling out of reportedly include Atlanta, Chicago, Boston, Washington, D.C., Philadelphia, and Seattle. “In a capital-constrained environment, where capital is super expensive, we have to focus on our strongest markets,” Volk said.

Upwork, October 23, 2024 announcement. Layoff of 21% of workforce.

To maintain profitable growth, “increase efficiency, and accelerate innovation for its customers,” Upwork is reducing its total workforce by 21%, according to a company news release. The cuts are expected to generate approximately $60 million in annualized cost savings. “We are making ourselves a more streamlined and efficient organization, continuing our successful focus on durable, profitable growth and delivering value for our customers and shareholders,” said Hayden Brown, president and CEO, Upwork. According to the release, Upwork plans to flatten the structures of its teams as it leverages more automation and third-party services to simplify processes and operate more efficiently at scale.

Venminder, October 21, 2024 announcement. Layoff of 100 people.

Just seven weeks after announcing that it had been acquired by Ncontracts, the Kentucky-based tech company is laying off 100 employees due to redundancies, according to The Business Journals. The cuts were confirmed in a WARN notice filed by Venminder and are expected to begin on December 15, 2024.

CapWay, October 17, 2024 announcement. Layoff of entire workforce.

Founder Sheena Allen announced operations at Capway have been shut down in a LinkedIn post on Wednesday, according to TechCrunch. The Y Combinator-backed fintech reportedly sought to bring financial services to those in banking deserts, which are people in communities, often rural, that have no nearby physical bank branch to obtain a checking account. The term also applies to people who have difficulty going to a bank, such as lower-income, older, or disabled individuals. Allen told TechCrunch the company started to wind down last year and waited this long to announce after a possible acquisition fell through. Allen reportedly cited the fact that the fintech industry took a huge reputational hit after the hacking of Evolve Bank & Trust and the collapse of Synapse. Hundreds of millions of dollars of consumer funds were frozen as a result of the Synapse’s collapse.

In response, many banks that looked to partner with fintechs, required the fintech to have a certain amount of money in the bank. During this time period, CapWay struggled to adjust and find a banking partner. The company also struggled to raise more money to meet potential partners’ money-on-hand requirements. “I am proud of the work we were able to accomplish, but honestly disappointed that we couldn’t complete the mission,” Allen wrote on LinkedIn. “I feel strongly that there is still much work to be done in the financial inclusion space, so it won’t be the last you hear of me in regard to fighting for economic equality.” 

Meta, October 16, 2024 announcement. Layoff total TBA.

Employees across various departments, including WhatsApp, Instagram, and Reality Labs are reportedly being laid off at Meta, according to The Verge. Meta opted against mass, companywide layoffs to initiate smaller cuts that seem to align with the restructuring of specific departments. According to the report, some Meta employees have started posting on social media saying they've been laid off. “Today, a few teams at Meta are making changes to ensure resources are aligned with their long-term strategic goals and location strategy,” company spokesperson Dave Arnold said in a statement shared with The Verge. “This includes moving some teams to different locations, and moving some employees to different roles. In situations like this when a role is eliminated, we work hard to find other opportunities for impacted employees.” Stay tuned.

Gigamon, October 15, 2024 announcement. Layoff of 69 people.

Starting on New Year's Eve, the cloud computing company will layoff 69 employees from its Santa Clara headquarters, according to SFGate. The cuts were announced in a WARN filing with the state on Thursday, which is required in the event of mass layoffs. According to the report, several engineers, directors, managers, and a few analysts and accountants will be impacted by the restructuring. In addition, the WARN document breaks down Gigamon’s restructuring plan: 34 workers will permanently lose their jobs on Dec. 31, followed by 17, eight, and 10 at the close of the next three months.

ByteDance, October 11, 2024 announcement. Layoff of 500 people.

The owners of TikTok are laying off about 500 employees at the company, according to Reuters. TikTok's global workforce will be impacted, including a high number of employees based in Malaysia, the company said on Friday. Typically, a combination of automated detection and human moderators are utilized to review content posted on the site. The move reportedly arrives as it shifts focus towards a greater use of AI in content moderation as part of a wider plan to improve its moderation operations.

Nikola, October 11, 2024 announcement. Layoff of 130 people, 15% of workforce.

Despite becoming the only manufacturer to put fuel cell trucks on the road last quarter, Nikola Motor is laying off 135 people amid ongoing financial woes, according to Electrive. The restructuring will impact 15% of Nikola's workforce. This is the third straight year of layoffs at the company, which were preceded by 270 employees being laid off in June 2023, and further preceded by 100 employees in November 2022.

Careerbuilder + Monster, October 10, 2024 announcement. Layoff of 200 people, 15% of workforce.

CareerBuilder + Monster, the new company running both recruitment sites, is laying off 200 employees, according to the AIM Group. The two companies merged less than a month ago and will have 15% of their combined workforce impacted after the business move. According to the report, all departments, regions, and levels experienced cuts.

Toptal, October 10, 2024 announcement. Layoff of 90% of workforce.

The hiring startup that connects companies with technical freelance workers such as developers and engineers has initiated mass layoffs, according to The Information. The restructuring reportedly impacted 70% of Toptal’s engineering team, and included staff in the U.S., Ukraine, and Poland, according to LinkedIn posts by employees who said they were laid off. Toptal has yet to comment on the report.

Eaze, October 7, 2024 announcement. Layoff of entire workforce.

In a LinkedIn post on Sundnday, CEO Cory Azzalino announced that California's largest cannabis delivery company is “winding down operations” with a “full closure” expected by Dec. 31, according to SFGate. Eaze was previously valued at $700 million and was labeled the “Uber of weed.” According to the report, Jim Araby, a vice president at United Food Commercial Workers International Union, said Eaze is laying off nearly 500 employees. “This closure and the fact that almost 500 union jobs are going to be lost in the cannabis industry should be a wake up call to the state legislators and the government that more action needs to be taken,” Araby said in a statement regarding the upcoming closure.

Alma, October 2, 2024 announcement. Layoff of 9% of workforce.

In an effort to re-focus resources, the digital therapy enablement platform laid off 9% of its workforce across most departments, according to Behavioral Health Business. Alma reportedly believes that the cuts will help balance meeting the “expanding needs of the over 23,000 mental health providers we support” and its long-term sustainability. In addition, an Alma spokesperson told BHB that the restructuring is “part of a proactive approach to strengthening our offerings where we see emerging opportunities to better support our providers and their patients.”

FreshBooks, October 1, 2024 announcement. Layoff of 140 people.

The accounting software company is laying off 140 employees across all teams, and at all levels globally, according to a public blog post by CEO Mara Reiff. FreshBooks has been on a journey towards profitability and believes that having a leaner operation will speed up that timeline. “We’ve made changes to senior leadership, removed layers to enable speed and agility, combined teams to enhance our customer experience, and empowered decision-making across all levels. We believe these changes will make us more effective as a business,” Reiff wrote in the post.

ABBYY, October 1, 2024 announcement. Layoff of 200 people.

In an effort to reorganize offices in three European countries, the intelligent automation solutions provider reportedly laid off hundreds of software developers who left Russia and Belarus in 2022 to continue employment, according to the Big News Network. When the Russia-Ukraine conflict broke out in February 2022, ABBYY reportedly offered several of Russian developers relocations in Cyprus, Hungary, or Serbia. On Monday, however, most of those developers were fired by conference call, according to the report. While the company has yet to confirm the cuts, it appears that more than 200 employees are set to be impacted by the closure of its Research and Development (R&D) department. “This global transformation allows us to reinvest in future growth and accelerate product and solution innovation for our customers,” a spokesperson for ABBYY USA said in a statement.

September 2024 Tech Layoffs

Drata, September 26, 2024 announcement. Layoff of 40 people, 9% of workforce.

The security compliance automation platform has laid off 40 people, according to TechCrunch. The layoffs will impact 9% of its workforce. Drata helps companies adhere to frameworks such as SOC 2 and GDPR. “Drata continues its 3.5 years of extraordinary growth and has refined its organizational structure, reducing its workforce by 9%,” the company said in an email sent by the company’s director of communications, Sophia Hatef. “We are incredibly grateful for the impacted employees and their contributions. This strategic move aims to enhance operational efficiency and drive sustainable growth as the company charts its course toward a potential IPO in the future.”

Moov, September 25, 2024 announcement. Layoff of 50 people.

Moov, the Andreessen Horowitz-backed payment infrastructure fintech has laid off 50 employees, according to a LinkedIn post from Jason Mikula of Fintech Business Weekly. Representatives for Moov have yet to officially confirm the report.

Northvolt, September 23, 2024 announcement. Layoff of 1,600 people, 20% of workforce.

In an effort to drastically cut costs, the battery maker announced plans to eliminate 1,600 jobs in Sweden on Monday, according to CNBC. The restructuring requires Northvolt to trim its global workforce by around 20% and a 25% reduction in Sweden “to ensure that its resources are focused on accelerating production in large-scale cell manufacturing at Northvolt Ett.,” the firm said. According to the report, Peter Carlsson, CEO and co-founder of Northvolt, said in a statement that the company needed to focus all energy and investments into its core business.

Olo, September 23, 2024 announcement. Layoff of 61 people, 9% of workforce.

The software company announced layoffs that will impact by 9% of its workforce so it can focus on long-term objectives, according to FSR Magazine. Olo's savings from the restructuring move will go toward future growth initiatives, and the company will continue hiring for roles to lead those plans. As a result of the labor cuts, the company will reportedly lose $2.2 million to $2.6 million, primarily from severance payments and payroll taxes. “Our goal is to support long-term success for everyone involved. Although Olo’s business remains strong—we are growing, profitable, and have a strong balance sheet— we need to drive efficiencies and align our costs with the current pace of profitable growth,” CEO and founder Noah Glass wrote in a memo to employees. Olo plans to power its average revenue per unit by expanding relationships with its 700-plus restaurant brands, which Glass called “our most significant and efficient growth driver.”

Luminar, September 20, 2024 announcement. Layoff of 30% of workforce.

In an effort to further reduce its overhead, Luminar Technologies announced on Monday that it has cut 30% of its workforce in 2024, according to a public blog post from CEO Austin Russell. General administrative and back-office employees as well as other non-technical roles were impacted by the layoffs. “These new workforce adjustments, along with other cost-saving measures to take place over the coming quarters, are expected to generate an additional ~$80 million in cash savings annually on a run-rate basis,” Russell said in the post. According to Reuters, Luminar had said in May that along with the layoffs, it is also looking to sub-lease some of its facilities in portions or fully, reducing its global footprint as part of the restructuring.

Notable Labs, September 20, 2024 announcement. Layoff of 65% of workforce.

The cancer-focused biotech company said it will cut 65% of its workforce on Thursday as it explores “strategic alternatives focused on maximizing shareholder value,” according to The Business Journals. The news arrives as Nobable Labs pauses the start of a mid-stage clinical trial of its lead drug.

IBM, September 18, 2024 announcement. Layoff of thousands of people.

According to an inside source, the tech giant has quietly laid off thousands of employees, which was reported by The Register. “Unlike traditional layoffs, this one was done in secret,” the insider said. “My manager told me that they were required to sign an NDA not to talk about the specifics.” An IBM spokesperson was reached for comment and confirmed the cuts, though the spokesperson did not provide specifics. “Early this year, IBM disclosed a workforce rebalancing charge that would represent a very low single digit percentage of IBM’s global workforce, and we still expect to exit 2024 at roughly the same level of employment as we entered with,” the spokesperson said.

IBM had nearly 288,000 employees worldwide at the end of 2023. According to the report, the “very low single digit percentage” possibilities for 2024 might be 1% (2,880 layoffs), 2% (5,760 layoffs), 3% (8,640 layoffs), or more. Assuming a fixed cost per employee, last year's charge and job cut disclosure suggests about 5,200 positions would be eliminated with a $400 million charge.

Runtastic, September 16, 2024 announcement. Layoff of 170 people.

The Austrian-based health and fitness apps company is laying off 170 employees amid office closures, according to Footwear News. The closures were initiated by Adidas, who acquired Runtastic in 2015. Adidas reportedly decided to consolidate its digital functions to fewer locations, which resulted in the decision to close Runtastic locations in Austria (in Pasching, Vienna and Salzburg) by mid-2025.

Microsoft, September 12, 2024 announcement. Layoff of 650 people.

Microsoft is laying off an additional 650 employees from its gaming business, according to a memo sent by Xbox chief Phil Spencer to staff today, obtained by IGN. In an effort to organize its business for long term success, Microsoft's cuts will impact mostly corporate and support functions roles, according to Spencer. As a result of its latest round of cuts, Microsoft has laid off 2,550 employees from its gaming business since acquiring Activision Blizzard for $69 billion in 2023. Spencer clarified that no games, devices, or experiences are being canceled and no studios are being closed as part of these cuts, though they are related to the acquisition.

Amperity, September 12, 2024 announcement. Layoff of 13% of workforce.

The Seattle-based software startup confirmed it is laying off 13% of its workforce on Thursday, according to GeekWire. “We are streamlining our operational and corporate functions while better prioritizing our investments on our go-to-market strategy,” Amperity interim CEO Chris Jones said in a statement. Amperity had about 400 employees to start the year, though it laid off 5% of its staff in January.

Udemy, September 11, 2024 announcement. Layoff of 280 people, 20% of workforce.

The San Francisco-based edtech company announced it will layoff 280 employees in an SEC Filing on Monday, according to SFGate. While the cuts will reportedly account for almost 20% of Udemy's workforce, the company plans to replace some in what it’s calling “lower cost geographies.” “We have undertaken this restructuring to ensure we remain a durable, competitive company well into the future,” spokesperson Paxton Mittleman wrote in an email to SFGate. “While we have no plans for additional layoffs at this time, we cannot guarantee future market conditions or corporate developments.” Udemy announced a “Strategic Business Update” back in July, which lead to these cuts after it lost $50 million in the first six months of this year.

Edgio, September 9, 2024 announcement. Layoff of entire workforce.

Edgio Inc., the media content and cyber-security solutions provider, has filed for Chapter 11 bankruptcy protection on Monday in Delaware, according to Yahoo Finance. Edgio is a media content and cyber-security solutions provider, which is backed by private equity giant Apollo Management. The news was first reported by Bloomberg. While an official shut down of operations has yet to be announced, it appears that a closure and workforce elimination is imminent.

Nori, September 9, 2024 announcement. Layoff of entire workforce.

The Seattle-based carbon removal startup has shut down after operating for seven years, according to GeekWire. Alexsandra Guerra, a Nori co-founder and former director of sales and business development, shared the news in a post on LinkedIn. “In a heartfelt email, CEO Matt Trudeau acknowledged Nori’s vision and impact, but the challenges of a stagnant Voluntary Carbon Market and tough funding environment proved too great,” Guerra wrote. According to the report, Nori managed an online marketplace for buying and selling carbon credits generated by farmers who used sustainable practices that capture and hold carbon, keeping it out of the atmosphere. It tracked the sales using blockchain technology. Around 50 employees will be impacted by the closure, according to Nori's LinkedIn account.

WeTransfer, September 8, 2024 announcement. Layoff of 260 people, 75% of workforce.

After acquiring WeTransfer for an undisclosed amount in July, Bending Spoons is planning to lay off 75% of the staff of the file transfer service, according to TechCrunch. The restructuring move will impact 260 of WeTransfer's employees. According to the report, Bending Spoons CEO Luca Ferrari said that the company typically studies the organization that it is acquiring and determines what is the best vision of the business going forward with an aim to operate it forever. “In this particular case, the vision we developed is of a smaller, more sharply focused WeTransfer organization, which we believe will be better-positioned to serve WeTransfer’s success with a long-term view,” Ferrari said.

Goop, September 6, 2024 announcement. Layoff of 39 people, 18% of workforce.

In an effort quickly transition from its image as a wellness and lifestyle brand to focus on selling its beauty products, Gwyneth Paltrow’s Goop will layoff 18% of its workforce, according to the New York Post. Around 39 employees will be impacted as Goop looks to reduce several redundancies. “Goop has been trying for a while to be known as a wellness company, selling all types of products and advice that some may think is odd or non-mainstream. It was faddy. Fads don’t last,” HeraldPR CEO Juda Engelmayer told The Post.

Motif Foodworks, September 6, 2024 announcement. Layoff of entire workforce.

The Boston-based foodtech firm is shutting down business operations, according to AgFunderNews. Motif Foodworks is best-known for its meaty tasting heme proteins produced via precision fermentation. The company has reportedly been engaged in an expensive IP battle with Impossible Foods that was resolved this week with both parties agreeing to cover their own costs. Impossible Foods is set to take over Motif's heme business as a result of the litigation. According to Motif's LinkedIn account, the shutdown will impact at least 50 employees, though a skeleton crew will stay on to wind things down at the firm.

ChargePoint, September 4, 2024 announcement. Layoff of 250 people, 15% of workforce.

In an effort to reorganize its operations, the electric vehicle-charging company will layoff 250 employees, according to MarketWatch. On Wednesday, ChargePoint reportedly said its reorganization is expected to reduce annual GAAP and non-GAAP operating expenses by $41 million $38 million, respectively. The cuts will also create efficiencies by streamlining functions. According to the report, 15% of ChargePoint's workforce will be impacted by the restructuring move.

August 2024 Tech Layoffs

Dunzo, August 31, 2024 announcement. Layoff of 150 people, 75% of workforce.

The Bengaluru-based delivery startup laid off 150 employees amid financial woes, according to Inc42. The cuts will reportedly leave Dunzo with only 50 employees across supply and marketplace verticals. Dunzo has had a heightened sense of urgency to reduce its costs and extend its time to secure capital.

Brave, August 28, 2024 announcement. Layoff of 27 people, 14% of workforce.

The web browser and search startup laid off 27 employees across multiple departments, which accounts for 14% of its workforce, according to TechCrunch. Though Brave confirmed the layoffs, it didn’t provide specific details about reason for the moves nor the total headcount remaining. According to TechCrunch, Brave's latest round of job cuts arrive almost 10 months after the company laid off 9% of its total workforce in October 2023. At that time, Brave said the cuts were due to “cost management in this challenging economic environment.”

Scale AI, August 27, 2024 announcement. Layoff of 1,300 people.

The data-annotation startup laid off at least 1,300 contract workers on Monday, according to employees familiar with the situation in a confirmation to Inc. According to the report, employees received an email from HireArt, a human resources software vendor that serves as Scale's HR department. “Today, August 26th, your employment with HireArt will be coming to an end, effective immediately; you no longer need to report to work. Your final pay will be issued by the end of the day on August 30th for your hours worked,” said the email, obtained by Inc. The majority of Scale's business comes from hiring freelance workers to train and refine generative AI programs in a process known as “tasking.” These contractors are reportedly paid hourly and often work for two of Scale's subsidiaries, Outlier AI and Remotasks.

“Due to a shift in business strategy, Scale reduced its remote contractor headcount. These contractors were employed by HireArt and assigned to project-based work with Scale. This reduction was not a layoff and does not impact full-time Scale employees. Through HireArt, impacted contractors were given severance and offered COBRA coverage through the end of the month,” a Scale AI spokesperson said regarding the restructuring.

Apple, August 27, 2024 announcement. Layoff of 100 people.

Apple slashed nearly 100 roles in its digital services group, with the biggest cuts affecting the team responsible for its Apple Books app and Apple Bookstore, according to a Bloomberg News report on Tuesday. Though Apple declined to comment, the restructuring includes some engineering roles and other services teams like the one that runs Apple News, the report said, citing people familiar with the matter. Amid its internal shift and focus on AI, Apple has been restructuring teams and priorities as it moves forward.

IBM, August 26, 2024 announcement. Layoff of 1,000 people.

IBM will completely eliminate its China-based R&D operation, impacting over 1,000 roles, according to Reuters. “These changes will not impact our ability to support clients across the Greater China region,” said an IBM spokesperson in a statement to Reuters confirming the cuts. The restructuring reportedly arrives amid IBM's struggles with slumping demand for its hardware and challenges in growth markets like China.

Tome Biosciences, August 26, 2024 announcement. Layoff of entire workforce.

The Genetic medicines startup is scaling back operations and laying off its entire 131-person staff amid financial struggles, according to BioPharma Dive. Tome said the impacted employees would lose their jobs by November, according to a Massachusetts state regulatory notice it filed. In an emailed statement to BioPharma Dive Friday, CEO Rahul Kakkar said Tome had scaled back operations and was in “ongoing confidential conversations with multiple parties.” In addition, Kakkar added: “Despite our clear scientific progress, investor sentiment has shifted dramatically across the gene editing space, particularly for preclinical companies.”

Kenko Health, August 23, 2024 announcement. Layoff of entire workforce.

After running out of funds and failing to secure an insurance license from the Insurance Regulatory and Development Authority of India (IRDAI), healthtech startup Kenko Health ended business operations, according to Inc42. Founder Aniruddha Sen announced the news to employees in an email. “Unfortunately, the company has run out of funds, and we were unable to infuse equity capital in time due to various internal reasons. Our company has been taken to the National Company Law Tribunal (NCLT) by a debt fund that had extended a loan to us,” Sen wrote in the email. According to Kenko Health's LinkedIn profile, about 200 employees will be impacted by the shutdown.

Received, August 23, 2024 announcement. Layoff of entire workforce.

The New York-based billing and accounts receivable platform is shutting down business operations, according to Fintech Futures. In a LinkedIn post announcing the news, CEO Roi Ben Daniel said the team came to the decision “after realizing we’re not on the right growth trajectory.” Around 50 employees will be impacted by the shutdown, according to Received's LinkedIn profile.

Redfin, August 22, 2024 announcement. Layoff of 82 people, 2% of workforce.

In an effort to regain its footing in a slumping housing market, the Seattle-based real estate company laid off 82 employees, according to GeekWire. The layoffs affected Redfin’s Concierge service, which helps homeowners improve their home’s appeal before putting it on the market. Support and sales managers within Redfin's real estate brokerage were also impacted by the layoffs. “As we hire more Redfin Next agents and our current agents become more entrepreneurial and self-sufficient, Redfin needs less support and managerial staff,” a spokesperson said in a statement obtained by GeekWire.

Kaiyo, August 21, 2024 announcement. Layoff of entire workforce.

The furniture resale platform is withholding customer funds as it prepares to shutdown business operations, according to The City. Customers reportedly received an email from Kaiyo that read: “Currently, Furnishare DBA Kaiyo is in the initial phase of doing an orderly wind down of the Company. Due to the current situation, we are not able to complete your payout at this time.” Customers will receive guidance on how to file a claim in the future, according to Kaiyo. The number of impacted employees remains unclear at this time.

Skip the Dishes, August 20, 2024 announcement. Layoff of 800 people.

In a LinkedIn post on Tuesday, CEO Paul Burns announced Skip the Dishes is laying off 800 Canadian employees along with its parent company, according to CBC. The cuts will impact 100 Canada-based workers with Skip the Dishes, while 700 operations employees based out of Canada who work for its owner, Just Eat Takeaway.com, will also be laid off, Burns said. “Decisions that impact people’s jobs are never simple or easy, however the measures we took are necessary to ensure we have the right resources and organizational structure in place to drive sustainable growth. A more focused approach will also ensure we continue to provide an enhanced offering to customers and exceptional service to all our stakeholders,” Burns wrote in the post.

Five9, August 20, 2024 announcement. Layoff of 190 people, 7% of workforce.

The San Ramon, Calif.-based contact center products vendor announced plans to reduce its workforce by 7%, according to CRN. CEO Mike Burkland revealed the restructuring plans in an email to employees that included a regulatory filing. The move is reportedly “part of the Company’s broader efforts to drive balanced, profitable growth, further supporting our positive, long-term outlook and focus on increasing shareholder value,” according to the filing. “Looking forward, Five9 is focused on driving shareholder value by increasing revenue, improving profitability, investing in our key strategic initiatives, and delivering for our customers. I have enormous confidence in Five9 and each of you as we continue to align and execute as one team,” Burkland wrote in the email. The cuts will impact around 190 employees.

GoPro, August 19, 2024 announcement. Layoff of 139 people, 15% of workforce.

On Monday, the company known for making action cameras said it would layoff about 15% of its workforce this year, as part of a restructuring plan to reduce operating expenses, according to Reuters. The cuts will impact 139 roles. GoPro expects the layoffs to begin in the third quarter and be completed by the end of 2024. According to the report, GoPro expects to take charges in the range of $5 million to $7 million for the restructuring plan, with cash expenses of $1 million to be recognized in the third quarter and about $4 million to $6 million in the fourth quarter of 2024.

Localize, August 19, 2024 announcement. Layoff total unconfirmed.

The proptech company is ending business operations in the US, though its sister company Madlan will continue operating in Israel, according to Calcalist. The move was reportedly initiated in response to the crisis in the US real estate market, which has experienced two difficult years due to high interest rates and other factors.

Regrow Ag, August 16, 2024 announcement. Layoff of 19% of workforce.

The agriculture resilience platform is laying off 19% of its workforce, according to a LinkedIn post from co-founder Anastasia Volkova announcing the cuts. The move appears to be in response to macroeconomic conditions, though specific factors leading to the decision have yet to be confirmed. “For our customers and the remaining team, I have no doubt we’ll achieve everything we intend to and more for the environment while transforming the food system for future generations,” Volkova wrote in the social media post.

Formlabs, August 15, 2024 announcement. Layoff of around 40 people.

The 3D printing firm laid off a “small number” of employees in an effort to reach efficiency goals, according to TechCrunch. A spokesperson for Formlabs reportedly confirmed the cuts, adding that the layoffs occurred in waves over the past two years, and as recently as the last few weeks. “While we continue to grow revenue and lead in the additive manufacturing market, we occasionally must make the difficult decision to part ways with a small number of colleagues who are in departments that are below our efficiency goals and/or who are not in the right roles,” the spokesperson said in an exclusive statement to TechCrunch.

Mister Spex, August 15, 2024 announcement. Layoff of 130 people, 10% of workforce.

The German eyewear retailer initiated a restructuring program known as “SpexFocus” within the company, which means it will layoff 10% of its workforce and close all eight of its international branches, according to Business Insider. Five of the branches headed for closure are in Austria, two in Sweden and one in Switzerland. In addition to these move, products will have price adjustments, while processes will be checked for efficiency and adjusted. “The aim is to significantly increase profitability and ensure sustainable cash generation for the company in the medium term,” the company said in a press release on Thursday morning. According to the report, internal turmoil over the past few months had already left its mark on top management at Mister Spex. First, co-CEO Mirko Caspar left the company, then Dirk Graber, founder and CEO of the company, also gave up his position as CEO, as was announced at the end of July.

PacketFabric, August 15, 2024 announcement. Layoff total unconfirmed.

In an effort to optimize business operations, the Los Angeles-based infrastructure company laid off an undisclosed number of employees amid plans to continue to deliver great value to its customers and their businesses in the future, according to a company blog post. “We continue to innovate Network as a Service with leading-edge solutions and robust network infrastructure, providing unparalleled network connectivity to empower users and businesses worldwide. Our focus as a company is unchanged: to support our customers with the highest standards of service.”

Grail, August 13, 2024 announcement. Layoff of 350 people.

The Bay Area-based biotech company announced 350 layoffs in a filing with the Securities and Exchange Commission on Tuesday, in addition to reducing its planned hires by 30% for the year, according to SFGate. Grail's restructuring move will reportedly include 179 employees from its headquarters in Menlo Park. In addition to these moves, three vice presidents and one senior VP will be impacted, as will several senior and associate directors, engineers, scientists and clinical lab associates, according to a WARN notice Grail filed with local officials. The remaining cuts will impact employees in North Carolina and the United Kingdom, and some working remotely, Spokesperson Trish Rowland confirmed in an email to SFGate. “We will be restructuring parts of the business and reducing our overall spend, which we expect to extend our existing cash runway into 2028 and provide greater flexibility,” Rowland wrote in the email.

Sonos, August 12, 2024 announcement. Layoff of 100 people, 6% of workforce.

Sonos laid off 100 employees on Wednesday morning in an effort to wind down some of its customer support offices, including one in Amsterdam that will close later this year, according to The Verge. The companywide layoffs will reportedly affect several units including marketing, product and engineering, platform and infrastructure, and software quality. “This action was a difficult, but necessary, measure to ensure continued, meaningful investment in Sonos’ product roadmap while setting Sonos up for long term success,” CEO Patrick Spence said in a statement obtained by The Verge. According to the report, the layoffs arrive as a result of the fallout from its disastrous mobile app redesign.

Tally, August 12, 2024 announcement. Layoff of entire workforce.

In a LinkedIn post on Monday, CEO Jason Brown announced that the fintech company would be shutting down business operations as a result of a lack of funding. “After nearly nine years of helping people manage and pay off their credit card debt, we have made the difficult and sad decision to shut down Tally. This was not the outcome we had hoped for, but after exploring all options, we were unable to secure the necessary funding to continue our operations,” Brown said in the post.

Cisco, August 9, 2024 announcement. Layoff of 5,900 people, 7% of workforce.

In its second round of cuts this year, Cisco is laying off 4,000 employees as it shifts its focus to higher-growth areas, including cybersecurity and AI, according to Reuters. The latest round of layoffs will reportedly impact 5% of its workforce. The company parted with 4,000 employees in February, and could see a similar or slightly higher number of affected employees as a result of its latest move. According to the report, an official announcement will likely be announced as early as Wednesday with the company's fourth-quarter results, said the sources, who were not authorized to speak publicly.

According to a report from ABC News on Aug. 14, Cisco is actually planning to lay off 7% of its workforce, though previous reports earmarked the total at 5%. While the company has yet to confirm the total number of impacted workers, it reportedly employed 84,900 people as of July 2023. Based on that figure, the number of jobs cut would be about 5,900. “The restructuring will help offset the earnings impact from interest expenses associated with financing the Splunk acquisition and will rationalize combined workforces,” said Edward Jones analyst David Heger in a statement obtained by ABC News.

Branch.io, August 9, 2024 announcement. Layoff of 100 people.

After acquiring Nova Launcher over two years ago, Branch.io is laying off more than 100 employees on the dev team of its subsidiary, according to 9to5Google. Nova Launcher's official X account states that the team has gone from “around a dozen” to just one full-time developer – the original founder Kevin Barry. The move signals what could be a grim outlook for the future of the popular third-party home screen replacement.

READY Robotics, August 9, 2024 announcement. Layoff of entire workforce.

READY Robotics, the Ohio-based company best known for its ForgeOS robot-agnostic operating system, has shut down business operations, according to The Robot Report. The company recently branched out into automation consulting and launched a palletizing system, but its latest round of funding round failed at the last minute causing it to lay off its staff and shut down. Silicon Valley Disposition is reportedly auctioning off equipment from READY Robotics between August 13-15, which includes nearly 50 robots from various industry-leading robotic arm companies, CNC machine tools, and more.

Fastly, August 8, 2024 announcement. Layoff of 11% of workforce.

As part of a restructuring exercise, the content delivery network company is reducing the global headcount of its full-time employees by 11%, according to Seeking Alpha. Fastly reportedly expects the move to be complete by the end of the fiscal year ending December 31.

Eventbrite, August 7, 2024 announcement. Layoff of 100 people, 11% of workforce.

Amid an effort to increase operational efficiency and lower costs, the San Francisco-based online ticketing and event platform is laying off 100 employees, according to MarketWatch. The 11% workforce reduction was announced in a filing with the Securities and Exchange Commission on Wednesday, according to SFGate. The move reportedly arrives in response to slumping ticket sales.

LegalZoom, August 7, 2024 announcement. Layoff of 15% of workforce.

LegalZoom announced a restructuring effort that will trigger a 15% reduction of its global workforce, according to Yahoo Finance. In addition to the cuts, the company has reduced and realigned its hiring efforts to mirror its three execution priorities. LegalZoom reportedly expects the combination of these moves to enable $12 million in savings by the end of 2024, and annualized savings of approximately $25 million.

Axios Media, August 6, 2024 announcement. Layoff of 50 people, 10% of workforce.

As it navigates volatility within the media landscape, Axios co-founder and CEO Jim VandeHei announced the company will layoff 50 employees on Tuesday, according to the New York Post. “We’re making some difficult changes to adapt fast to a rapidly changing media landscape,” VandeHei said. “We’re eliminating about 50 positions to get ahead of tectonic shifts in the media, technology and reader needs/ habits. This is a painful but necessary move to tighten our strategic focus and shift investment to our core growth areas.” The 10% workforce reduction at Axios arrives amid a turbulent period for media companies, as many are reportedly squeezed by decreased advertising and a slowdown in web traffic due to changes in Facebook and Google’s search algorithm.

Dell, August 5, 2024 announcement. Layoff of 12,500 people, 10% of workforce.

In an effort to reorganize its sales teams that will include a new group focused on AI products and services, Dell is eliminating roles to become a leaner company, according to Bloomberg. “We’re streamlining layers of management and reprioritizing where we invest,” sales executives Bill Scannell and John Byrne wrote Monday in a memo to staff. “We aim to grow faster than the market by seamlessly meeting our customers and partners online, virtually, or in person, to unlock the value of modern IT and AI for their organizations.” Additionally, Dell will change how data center sales are approached, according to the executives. The company has yet to confirm the total number of impacted employees. However, a report from SiliconANGLE estimates that nearly 12,500 Dell employees are being laid off this week, citing an unnamed source.

Infineon, August 5, 2024 announcement. Layoff of 1,400 people.

The German chipmaker is laying off 1,400 employees, globally, and relocate an additional 1,400 roles to countries with lower labor costs, according to Yahoo. Infineon confirmed the cuts in an announcement on Monday, which will include include several hundred positions at the company’s German plant as part of its “Step Up“ cost saving programme. “The recovery in our target markets is progressing only slowly,” CEO Jochen Hanebeck said regarding the layoffs. “Prolonged weak economic momentum has resulted in inventory levels in many areas overlaying end demand.” Hanebeck reportedly said the initiative would have a positive impact on Infineon's 2025 fiscal year.

Jam City, August 5, 2024 announcement. Layoff of 85 people, 10% of workforce.

The video game developer and publisher that is behind releases like DC Heroes & Villains, Disney Emoji Blitz, and Jurassic World Alive has laid off 85 employees, according to PocketGamer. “After a challenging 2023, industry analysts predicted an upward trend for gaming in 2024. While we have seen moderate improvements in some areas, the overall upward trend has not materialized as expected,” said Jam City CEO Josh Yguado said in an email to staff.“ Projections indicate these conditions will continue for some time, with improvements not expected until the second half of 2025.” The cuts will impact 10% of Jam City's workforce.

Intel, August 1, 2024 announcement. Layoff of 15% of workforce.

Silicon titan Intel Corp. will cut 15,000 jobs by the end of the year – 15% of its global workforce in a move CEO Pat Gelsinger called “painful to share.” The company announced second quarter results that showed revenue down 1% year-over-year at $12.8 billion. But the company also said its net income was down 85% to $100 million and earnings per share were also down 85%. In a letter to employees, Gelsinger said the quick layoffs and aggressive cost-cutting measures will mark “some of the most consequential changes in our company’s history.”

July 2024 Tech Layoffs

Delivery Hero, July 31, 2024 announcement. Layoff of 200 people.

In an effort to cut costs and streamline operations to revive its growth, Delivery Hero is merging three of its businesses across Europe and Asia, according to Bloomberg. In a statement on Wednesday, the company said it will combine two of its European business teams — Foodora and Yemeksepeti — with its Asian business, Foodpanda. As a result of the merger, it will layoff nearly 200 employees.

Bungie, July 31, 2024 announcement. Layoff of 220 people, 17% of workforce.

CEO Pete Parsons shared a public blog post on Wednesday announcing layoffs that will impact 220 employees, or 17% of Bungie's workforce, in an effort to combat rising development costs and industry shifts. The company will make significant changes its “cost structure and focus development efforts entirely on Destiny and Marathon,” according to Parsons. The cuts will impact every level of the company, including most of its executive and seniors positions.

“We are committing to two other major changes today that we believe will support our focus, leverage Sony’s strengths, and create new opportunities for Bungie talent. First, we are deepening our integration with Sony Interactive Entertainment, working to integrate 155 of our roles, roughly 12%, into SIE over the next few quarters,” Parsons said. “Second, we are working with PlayStation Studios leadership to spin out one of our incubation projects – an action game set in a brand-new science-fantasy universe – to form a new studio within PlayStation Studios to continue its promising development.

Match Group, July 31, 2024 announcement. Layoff of 6% of workforce.

Match Group laid off 6% of its workforce as a result of discontinuing livestreaming services in its dating apps, which was announced in a second-quarter earnings report on Tuesday, according to TechCrunch. The move will allow Match to focus on AI as well as other offerings. The livestreaming shut down will directly impact dating apps Plenty of Fish (POF) and BLK, which launched a free livestreaming feature — “Live!” — in 2020, according to the report. The goal was to create a virtual dating environment during the COVID-19 pandemic. In addition to these moves, Match is also shutting down the Hakuna app. As the world begins to leave COVID-19 further in its collective rearview, Match has seen a major shift in user behavior. Revenue sharing also played a role in Match’s decision.

NerdWallet, July 30, 2024 announcement. Layoff of 15% of workforce.

In a regulatory filing on Tuesday, NerdWallet confirmed plans to layoff 15% of its workforce amid a restructuring effort to reduce costs, according to MSN. Effective August 1, the cuts and overall plan is reportedly expected to result in a total estimated pretax restructuring charge of $8M-$10M, which mostly consists of severance payments, employee benefits, and related expenses for impacted staffers.

Moxion Power, July 29, 2024 announcement. Layoff of entire workforce.

After most of its workforce was furloughed on July 19, the Bay Area battery maker is shutting down business operations and laying off its remaining 248 employees, according to SFGate. Moxion Power had reportedly raised $110 million in funding over the past four years and recently began building a large factory next to its Richmond headquarters, but the company was unable to raise more money to complete the project, according to a WARN notice sent to staff on July 19 and since filed with the state. The notice included the titles and roles of the affected employees, which included the C-suite, seven vice presidents, 10 directors, 18 battery associates, and several of engineers, managers and technicians. While widespread concern and uncertainty followed the announcement of the furloughs, CEO Paul Huelskamp and Moxion's human resources team notified employees about the shutdown in separate emails on Friday, according to SFGate.

Pocket FM, July 27, 2024 announcement. Layoff of 200 people.

The audio streaming platform has laid off nearly 200 writers based in the US, according to Inc42. The move arrives just one month after partnering with the US-based GenAI platform ElevenLabs to enable writers to convert their text stories into audio series. “We had to part ways with some of our writers for US-based audio series to align our resources with our current show pipeline. These changes are typical in the content creation industry and do not reflect on the company’s overall health,” said a Pocket FM spokesperson regarding the cuts. The company has yet to confirm the specific number of layoffs.

WayCool, July 26, 2024 announcement. Layoff of 200 people.

The Chennai-based agriculture supply chain startup laid off 200 employees across several departments, marking its third round of cuts within the last 12 months, according to Moneycontrol. WayCool reportedly initiated the latest round of cuts in a continued effort to streamline operations to cut down losses after struggling to close funding, as employees across Chennai, Bengaluru and Hyderabad were impacted. In addition to these moves, its subsidiaries CensaNext and BrandNext were also affected by the layoffs. WayCool previously laid off over 300 employees in July 2023, followed by 70 more employees in February 2024. Financial challenges reportedly continue to mount for the Lightbox-backed startup, which include delayed salaries and client payments.

Webflow, July 25, 2024 announcement. Layoff of 8% of workforce.

The San Francisco-based software development company is laying off 8% of its workforce amid a restructuring effort, according to a public blog post from CEO Linda Tong. “As we look towards the future, I’ve made the decision to restructure Webflow to best position us for our next phase of growth – an outcome that will require focus, speed, and rebalancing where and how we invest. While this change is necessary, it comes with the difficult news that we’re making changes to our team,” Tong said in the blog post. While the specific number of employees and their roles have yet to be confirmed, Webflow has at least 600 employees, according to Forbes. Tong was adamant about Webflow having a healthy business and strong finances, but said the “decision is about sharpening our focus to accelerate delivery in pursuit of our mission.”

Bluelearn, July 22, 2024 announcement. Layoff of entire workforce.

The upskilling and job search platform announced a shutdown of business operations in response to ongoing battles to achieve growth, according to Moneycontrol. Bluelearn reportedly had goals of leveling the educational playing field by offering students from tier-2 and 3 colleges the same learning opportunities as their counterparts at top institutions, such as BITS and Indian Institutes of Technologies. “We realized that building a venture-scale business with Bluelearn was tough. We were very careful with our spending, which allows us to return 70% of the capital to our investors,” said co-founder Harish Uthayakumar in post on the X platform on July 21.

Magic Leap, July 19, 2024 announcement. Layoff of 75 people.

The augmented reality startup laid off about 75 employees on Thursday, which included its entire sales and marketing teams, according to Bloomberg. The move appears to be a crushing blow for a company that had so much promise. “Magic Leap has been evolving our go-to-market approach to better align with market dynamics and emerging opportunities, optimizing how we support our customers and our ecosystem,” a Magic Leap spokesperson told Bloomberg regarding the cuts. However, there may be a silver lining for Magic Leap despite the shift in business strategy, as it may reportedly seek to license its technology to Google. The two companies announced a “strategic technology partnership” last month, which is focused on the augmented reality market.

Mercari U.S., July 19, 2024 announcement. Layoff of 50% of workforce.

Amid struggles with falling sales and competition from low-price Chinese e-commerce rivals like Temu, Japanese online marketplace Mercari has laid off nearly half of the employees from its US subsidiary, according to Nikkei. Though Mercari reportedly has no plans to withdraw from the US, “a decision was made to ensure a sustainable business structure.” As a result of the cuts, the company employs just over 100 people.

Aqua Security, July 16, 2024 announcement. Layoff of 50 people, 10% of workforce.

The cyber company is laying off 50 employees, or 10% of its workforce amid a restructuring effort, according to Calcalist. Most of the impacted employees are reportedly not based in Israel. Aqua Security's headquarters are located in Boston and Ramat Gan, and it employs 500 people. “Aqua has carried out an organizational streamlining move to focus the company and its resources to address the most pressing needs of our customers, protecting the critical applications they develop and manage in the cloud. The move is global and also affects our employees in Israel, proportionally to the rest of the world,” the company said in statement obtained by Calcalist.

ON, July 16, 2024 announcement. Layoff of entire workforce.

The enterprise AI startup formerly known as GameOnTechnology, laid off its entire 60-person staff after reportedly discovering that $11 million in cash was missing, according to VentureBeat. CEO Alex Beckman resigned, allegedly under pressure from ON's board according to a letter that was sent to all shareholders from other company officers. In addition, the officers alleged they discovered that only 37 cents was left in an account that was supposed to have $11 million. After Beckman's exit, the board reportedly conducted an investigation and discovered many of his representations about ON's finances and operations turned out to “be abjectly false.” Operations have been paused as a result of the cuts.

Kaspersky, July 16, 2024 announcement. Layoff of entire U.S. workforce.

The Russian cybersecurity company is laying off dozens of employees and leave the US market in response to a US government order in June, which banned the sale of Kaspersky's software due to security risks, according to TechCrunch. In addition, Kaspersky will reportedly “gradually wind down” stateside operations when the ban goes into effect on July 20. According to the report, the company's US business is “no longer viable” and will impact less than 50 employees. The ban was the first of its kind when announced by the U.S. Commerce Department.

SolarEdge Technologies, July 15, 2024 announcement. Layoff of 400 people.

In an attempt to restore profitability and ensure financial stability, SolarEdge announced layoffs on Monday in a memo to staff that will impact 400 employees, which includes 200 employees in Israel, according to Reuters. The restructuring move is set to take place across every department and includes a reduction in discretionary spending. SolarEdge reportedly initiated the move in response to a downturn in the market at the end of 2023 and beginning of this year, which led to excess inventory and a current downturn in the solar industry, particularly in Europe. Monday's news arrives just 6 months after the company said it would layoff about 16% of its global workforce, which was part of a plan to reduce operating costs at the time.

Salesforce, July 15, 2024 announcement. Layoff of 300 people.

After laying off 700 employees in January, Salesforce has reportedly cut 300 more roles amid an ongoing restructuring effort to streamline operations, according to Bloomberg. “Like any healthy business, we continuously assess whether we have the right structure in place to best serve our customers and fuel growth areas. In some cases that leads to roles being eliminated,” a Salesforce spokesperson told Bloomberg without detailing the number of layoffs.

Intuit, July 10, 2024 announcement. Layoff of 1,800 people, 10% of workforce.

In an effort to sharpen its focus on products that utilize AI, Intuit is laying off 10% of its global workforce, or 1,800 employees, according to Bloomberg. As part of the move, the company is reportedly exchanging low performers and executives with news hires to achieve its goal, according to a memo sent to employees by CEO Sasan Goodarzi on Wednesday. Goodarzi plans to re-hire the same number of employees, which will primarily be in its engineering, product, and sales divisions. Intuit expects to accelerate its expansion in Canada, the UK, and Australia, and will also attempt to hire more fintech talent for its Credit Karma business. Though the restructuring is not a cost cutting move, offices in Edmonton, Canada and Boise, Idaho will reportedly be closed, while some tech roles will be consolidated to larger hubs.

According to Goodarzi, over 1,000 of the employees being laid off “are not meeting expectations.” In addition, Intuit is reportedly reducing the number of executives by about 10% to increase its “velocity of decision making.” “The changes we are making today enable us to allocate additional investments to our most critical areas to support our customers and drive growth,” Goodarzi said in the memo to staff.

CyberProof, July 10, 2024 announcement. Layoff of 7.5% of workforce.

The international cloud security solutions provider is laying off 7.5% of its global workforce, which could affect 20 out of its 85 Israeli employees, according to Calcalist. As a subsidiary of India's UST, CyberProof's cloud and IT infrastructure managers will reportedly be affected most, as those roles will be shifted to the company's offices in India, while cyber experts will not be affected. CyberProof operates offices and security operation centers in Israel, India, Spain, Singapore, and the US.

UiPath, July 9, 2024 announcement. Layoff of 420 people, 10% of workforce.

As part of a major restructuring effort, UiPath is laying off 10% of its workforce, or 420 employees, according to CNBC. The cuts were announced in a filing with the SEC on Tuesday. The majority of the layoffs are set to be completed by the end of the first quarter of fiscal 2026, which ends next April. In addition, UiPath announced in May that CEO Rob Enslin was resigning effective June 1, and would be succeeded by co-founder Daniel Dines, who had stepped down as co-CEO in January, according to the report. “These changes reflect efforts to reshape the organization by streamlining the Company’s structure, particularly in operational and corporate functions, better prioritizing our go-to-market investments and focusing our research and development investments on artificial intelligence and driving innovation across our platform,” UiPath said in Tuesday’s statement.

Microsoft, July 3, 2024 announcement. Layoff total TBA.

Microsoft initiated another round of layoffs that affected several teams and geographies, though the company refused to provide a total headcount, according to GeekWire. However, impacted employees reportedly offered subtle insight to the units that were impacted via posts on LinkedIn, which suggest that employees in product and program management roles roles were let go. “Organizational and workforce adjustments are a necessary and regular part of managing our business,” a company spokesperson said in a statement obtained by GeekWire. “We will continue to prioritize and invest in strategic growth areas for our future and in support of our customers and partners.” Microsoft has parted with nearly 3,000 employees since January in various departments including its gaming and Azure cloud units and HoloLens mixed-reality organization.

UKG, July 3, 2024 announcement. Layoff of 2,200 people, 14% of workforce.

To get ahead of rampant speculation, CEO Chris Todd announced mass layoffs in an email to employees on Wednesday that will impact 14% of UKG's workforce, according to the Boston Herald. News of the cuts that will affect nearly 2,200 UKG employees was reportedly set to arrive next week, though the plan is now in motion. “We are announcing a number of organizational changes that will allow us to aggressively focus on critical areas of growth and to provide flexibility to actively invest in important new areas,” Todd reportedly wrote in his email to staff. This is the second round of cuts in just over a year at the company, as it parted with 260 employees in March 2023.

OpenText, July 3, 2024 announcement. Layoff of 1,200 people, 2% of workforce.

Amid its “business optimization plan,” OpenText will be laying off 1,200 employees and adding 800 positions to support its “growth and innovation plans,” according to CRN. The company is looking to strategically align its workforce since filing with the US Securities and Exchange Commission on July 3 announcing the cuts, which will impact 2% of its employees. New roles will reportedly be added in sales, professional services, and engineering. OpenText's “Business Optimization Plan focuses on placing the right roles in global locations most appropriate for the business,” said a company spokesperson in an email to CRN.

Unacademy, July 2, 2024 announcement. Layoff of 250 people.

In its latest round of layoffs, the Indian edtech company is laying off about 250 employees, according to TechCrunch. The move appears to be part of an ongoing restructuring effort at Unacademy in response to schools continuing to reopen after pandemic lockdowns. Since the second half of 2022, the company has laid off nearly 2,000 employees. According to the report, the cuts will impact 100 employees in marketing, business and product, and about 150 in sales, which will keep Unacademy on track toward its goal of reaching profitability.

Koo, July 2, 2024 announcement. Layoff of entire workforce.

Originally designed to be a competitor of X, the Indian social media platform is winding down business operations after its acquisition negotiations with Dailyhunt stalled amid a last-ditch effort, according to TechCrunch. Koo experienced major hurdles as it attempted to expand its user base and generate revenue over the past two years, despite securing more than $60 million in funding from major investors, including Accel and Tiger Global. “Most of them didn’t want to deal with user generated content and the wild nature of a social media company,” Koo founders Aprameya Radhakrishna and Mayank Bidawatka wrote in a LinkedIn post. As an alternative to X, Koo reportedly planned to secure users in India by creating a compliant platform where they could express themselves in multiple local languages, while pledging to adhere to local regulations. The company's usage surged during a period when X (known as Twitter at the time) challenged the Indian government's blurred requests for content removal. The total number of impacted employees has yet to be confirmed.

Lightricks, July 1, 2024 announcement. Layoff of 70 people, 12% of workforce

Lightricks is laying off 70 employees that will primarily affect its consumer applications (B2C) division, as it shifts its focus to generative AI (GenAI) products for enterprises, according to Calcalist. The restructuring effort will account for 12% of its workforce, which features 600 employees in the US, Israel, China, and the UK. However, in addition to these cuts, Lightricks is planning to recruit dozens of new AI experts, with an emphasis on hiring in Israel.

June 2024 Tech Layoffs

RealPage, June 27, 2024 announcement. Layoff of 260 people, 4% of workforce.

The real estate technology company is laying off 4% of its workforce as it grapples with a major class-action lawsuit, though a spokesperson insisted that the restructuring is part of its plan to promote growth, according to Bisnow. The cuts will impact at least 260 employees.

Planet, June 26, 2024 announcement. Layoff of 180 people, 17% of workforce.

In an effort to reduce operating costs, the earth observation company is laying off about 180 employees, or 17% of its workforce, according to SpaceNews. “This action was taken consistent with the Company’s ongoing focus on aligning the Company’s resources to the market opportunity, improving operational efficiency, and supporting the long-term growth and profitability of the business,” Planet stated in a filing with the US Securities and Exchange Commission announcing the cuts. The company has yet to confirm any details regarding the layoffs, including the affected roles or locations. This is Planet's second round of mass layoffs in less than a year, as it laid off 117 employees in July 2023, which accounted for 10% of its workforce at the time.

Moxion Power, June 26, 2024 announcement. Layoff of 101 people.

The California-based battery manufacturer Moxion Power announced it is laying off 101 employees in a WARN filing on Friday, according to SFGate. The news is reportedly surprising since the company has raised more than $110 million in funding and recently unveiled plans for a major expansion in its home city of Richmond. According to the filing, 34 battery associates will be laid off, in addition to several warehouse associates and corporate staffers, from human resources and recruiting to business development and engineering. All of the impacted employees work at Moxion Power’s headquarters at 1414 Harbour Way South in Richmond. The cuts are slated to begin on August 20. CEO Paul Huelskamp told SFGate in a statement Wednesday that the layoffs are meant to align the company’s workforce with “core business objectives and current growth forecasts.”

Ginkgo Bioworks, June 24, 2024 announcement. Layoff of 35% of workforce.

In an effort to combat revenue declines by cutting costs, the Boston life sciences firm said in a filing Monday with the US Securities and Exchange Commission it would layoff 35% of its workforce of about 1,200 employees, according to the Boston Globe. Though Ginkgo Bioworks has yet to confirm the total number of impacted employees, it appears that at least 400 employees will be laid off. The filing reportedly arrives just one week after the company initiated 158 layoffs. After its founding in 2008 by five scientists from MIT, Bill Gates and other luminaries invested in the firm, a synthetic biology foundry that tinkered with the genes in microorganisms to produce new proteins, scents, antibiotics, and cannabinoids.

Emma Sleep, June 19, 2024 announcement. Layoff of 200 employees, 18% of workforce.

The German mattress manufacturing company laid off 200 employees, which will account for 18% of its global workforce, according to WirtschaftsWoche. CEO Dennis Schmoltzi confirmed the cuts in an interview with WirtschaftsWoche, attributing the restructuring to unstable e-commerce and residential sectors. “In view of these factors, we have adjusted our plans and are not planning for any growth for the year as a whole. As a result, we must also align our organizational structure with this strategy,” Schmoltzi said.

Wex, June 18, 2024 announcement. Layoff of 375 employees, 5% of workforce.

The Portland-based payment processing company is laying off 375 employees, which will account for 5% of its global workforce, according to the Portland Press Herald. In addition, less than 45 employees in Maine are expected to be impacted. While the types of positions to be cut remain unknown, Wex reportedly confirmed on Tuesday night that the majority of the layoffs will affect its “technology organization.” “As the technology environment continues to change rapidly, it is imperative that WEX continues to evolve its business to support innovation and maintain its position as an industry leader,” the company said in a statement obtained by the Portland Press Herald. “We have made changes across the company to advance our tec hnology transformation, streamline the organizational structures, and ensure that our customers remain at the center of everything we do.”

PayPal, June 18, 2024 announcement. Layoff of 85 employees.

After laying off 205 employees from its Irish operations in February, PayPal has announced it will cut up to 85 more roles from its Irish workforce, according to the Irish Examiner. CEO Alex Chriss reportedly said the move was initiated to “right-size” the company through both direct cuts and the elimination of open roles throughout the year.

Chegg, June 17, 2024 announcement. Layoff of 441 employees, 23% of workforce.

In an effort to become a leaner and more efficient organization, Chegg will reduce its global headcount by 23%, according to Business Wire. The cuts will impact 441 employees amid plans to increase the speed of innovation and align its expense base with near-term revenue trends by refocusing on students. “Today, we executed a restructuring effort, a major step in my plans to refocus Chegg and return to subscriber and revenue growth,” said Nathan Schultz, Chegg President and CEO. “These changes are designed to make us a more focused, more efficient, uncomplicated, and quicker-moving company. Our renewed focus on our core audience – the student – will allow us to address an unmet need with an offering that is differentiated, holistic, and verticalized for education.”

Stackpath, June 17, 2024 announcement. Layoff of entire workforce.

The Edge computing firm is closing business and liquidating its assets, according to DatacenterDynamics. While the total number of impacted employees remains unknown, Stackpath reportedly operated 73 Edge locations across 43 metro markets, and launched a Paris Edge location in April 2024.

Unit, June 17, 2024 announcement. Layoff of 15% of workforce.

In an effort to “think in longer time frames,” the banking-as-a-service startup laid off 15% of its staff, according to a company blog post by co-founders Itai Damti and Doron Somech. “Banks in the fintech ecosystem have slowed down in the last year due to increased regulatory scrutiny. While we believe that the slowness is temporary and Unit will actually benefit from the resulting regulatory clarity, it will take time. For now, we need to focus on efficiency and account for slower than expected revenue growth.”

Loop, June 16, 2024 announcement. Layoff of 23 people, 77% of workforce.

The car insurance startup laid off 23 employees including some in upper management, according to Coverager. The cuts accounted for 77% of Loop's workforce, which only had 30 employees prior to the announcement. “As disappointing as this is, I can’t let our mission die, and see your work not have the impact it deserves. So we’ve come to this hard decision, that we’ll continue forward only with a much smaller team and operate our way through this,” said Co-Founder and Co-CEO Carey Anne Nadeau in a LinkedIn post.

Care/of, June 15, 2024 announcement. Layoff of entire workforce.

The personalized subscription vitamin company is shutting down business operations and laying off all 143 employees by July 3, according to TechCrunch. The move arrives in response to a lack of funding, which was detailed in in a New York Department of Labor filing by Care/of. The company will reportedly be canceling all subscriptions as of Monday, June 17 and will no longer be accepting new orders.

Running Tide, June 15, 2024 announcement. Layoff of entire workforce.

The ocean carbon removal company shut down business operations and laid off its remaining workforce this week, according to the Portland Press Herald. Though Running Tide counted Microsoft as a customer since it happens to be is the world's largest buyer of CO2 removal services, a lack of wider demand from other companies turned out to be a fatal blow. “We built incredible technologies, but the voluntary carbon market just got a lot smaller in the last nine months,” CEO Marty Odlin told the Portland Press Herald. “We were building this for a growing market, and all of a sudden, it was shrinking. There isn’t enough demand right now.”

Satellogic, June 14, 2024 announcement. Layoff of 70 people, 30% of workforce.

The imaging company announced layoffs that will impact 70 employees and slow the deployment of new satellites in an SEC filing, according to SpaceNews. “The Company has recently been successful in deploying and operationalizing its new Mark V satellites. As a result of this successful deployment, the Company expects to reduce investment into its constellation growth initiatives at this time,” Satellogic stated in the SEC filing. The cuts will impact about 30% of Satellogic's workforce, but the company did not provide details about the affected roles or work locations. The news arrives just three weeks after the company dismissed 13% of its workforce at the time.

Medtronic, June 13, 2024 announcement. Layoff of total TBA.

After initiating an unconfirmed number of mass global layoffs in April of last year in response to changing macroeconomic conditions, Medtronic began a new round of cuts in early May, according to a report this week by the Star Tribune. “Medtronic continually evaluates its operations and aligns our resources with our highest strategic priorities. As part of those efforts, the company will reduce roles across our global workforce,” the company said in a statement obtained by the Star Tribune. Medtronincs again declined to detail the number of impacted employees, including business divisions or geographic locations. Stay tuned.

ByteDance, June 12, 2024 announcement. Layof of 450 people, 9% of workforce.

In an effort to eliminate duplicate roles and overhaul operations, ByteDance is laying off about 450 employees at its Indonesian e-commerce arm, according to Bloomberg. This is ByteDance's first round of layoffs since merging its TikTok Shop with local rival Tokopedia in January, which could be a move to eliminate costs after inking the $1.5 billion deal. As a result of the merger, ByteDance's Indonesian e-commerce business had about 5,000 employees. The cuts will reportedly impact e-commerce, advertising, and operations teams, which will be equal to about 9% of the arm’s employees. According to Bloomberg, ByteDance’s TikTok is grappling with a divest-or-ban law in the US. TikTok is also going through a restructuring effort after laying hundreds of employees in its marketing and operations teams globally last month, but the layoffs are not related to its legal and political troubles.

Paytm, June 10, 2024 announcement. Layoff of 3,500 people.

Amid an ongoing restructuring effort, Paytm laid off 3,500 employees in its sales division according to Mint. On Monday, Fintech firm One97 Communications, the parent company of Paytm, confirmed the layoff of an undisclosed number of employees. The move reportedly arrives in response to the Reserve Bank of India's (RBI) ban on services provided by Paytm Payments Bank, which took effect on March 15.

Copia, June 6, 2024 announcement. Layoff of 1,060 people.

The Kenyan B2C e-commerce platform laid off at least 1,060 employees according to TechCabal. The move arrives just two weeks after an internal memo showed that Copia was struggling to make payroll, which signals that a potential shutdown could be looming. CEO Tim Steel and administrators appointed last week to take over Copia reportedly broke the news to employees in a 20-minute meeting on Thursday. Employees were asked to return company property, including laptops and tablets, and sign their termination letters on Friday, June 7. At its peak, Copia had a 50,000-agent network serving rural Kenya. 

Revel, June 6, 2024 announcement. Layoff of over 1,000 people.

The New York-based rideshare service is laying off more than 1,000 drivers to adopt a contractor model similar to Lyft and Uber, according to TechCrunch. Revel reportedly launched and now operates several EV charging stations across the five boroughs, in addition to starting an all-Tesla, all-employee ride-hail service, amid an effort to guarantee utilization. After successfully piloting its new model in Late February with 100 Revel drivers, the company has since decided to hire 100 more. “The reason we ran this pilot in the first place was just increasing feedback from our driver pool, as well as in our recruitment efforts,” Haley Rubinson, vice president of corporate affairs at Revel, said in a statement to TechCrunch. “The leading reason people didn’t want to join Revel was the lack of flexibility. Now there really is the opportunity to serve more of the city’s for-hire vehicle population.”

The updated model will reportedly take effect after September 12, which gives the current drivers on Revel’s payroll the option of staying on with the company as independent contractors moving forward. According to TechCrunch, drivers can sign up to rent from Revel’s fleet of Teslas for $10 per hour, which includes auto liability insurance, vehicle cleaning and maintenance and a full day of battery charging. The company is seeking ways to grow the business and offer riders an improved service without accumulating more assets, so Revel will open up the platform to drivers with their own EVs in 2025.

Oda, June 5, 2024 announcement. Layoff of 150 people.

The Norway-based online supermarket delivery startup is laying off 150 employees, according to TechCrunch. Oda is streamlining its expansion plans to focus on two markets, Norway and Sweden, the home base of Mathem, an online grocery retailer that Oda merged with last year. Oda is narrowing its focus in an effort to become profitable in the two countries sometime next year. In a LinkedIn post last week, CEO Chris Poad acknowledged the global challenges that many grocery organizations face regarding an online model. “Online grocery is hard — complex orders with perishable items and a multi-temperature supply chain in a highly price sensitive category,” Poad wrote in the post (before the layoffs were announced). With previous experience at Amazon, Tesco, and Google, Poad joined Oda in April to help lead the company through this turbulent period.

Microsoft, June 3, 2024 announcement. Layoff of over 1,000 people.

Microsoft is laying off hundreds of employees within its Azure cloud business, which will impact its Azure for Operators and Mission Engineering teams, according to Business Insider. The two teams are part of a broader organization known as Strategic Missions and Technologies, which was created in 2021 and is led by the former Azure boss Jason Zander. The organization created to support Microsoft moonshots, which unites cutting-edge initiatives such as quantum computing and space alongside its government cloud business. A source familiar with the restructuring move reportedly estimated the Azure for Operators layoffs impacted as many as 1,500 jobs. Though the total headcount has yet to be confirmed, Microsoft usually initiates minor workforce cuts around this time of year as it transitions to a new fiscal year after June 30, according to Business Insider.

According to a report from CNBC on Monday, the layoffs will also affect some employees who work on mixed reality. The unit is responsible for the HoloLens 2 augmented reality headset, though Microsoft plans to continue selling the device. “We remain fully committed to the Department of Defense’s IVAS program and will continue to deliver cutting edge technology to support our soldiers. In addition, we will continue to invest in W365 to reach the broader Mixed Reality hardware ecosystem. We will continue to sell HoloLens 2 while supporting existing HoloLens 2 customers and partners,” a Microsoft spokesperson said in an email obtained by CNBC. Microsoft is reportedly laying off more than 1,000 employees, according to CNBC.

May 2024 Tech Layoffs

Google, May 31, 2024 announcement. Layoff of 100 people.

Google is laying off 100 employees across several Cloud “Go To Market” teams in the Asia-Pacific region, according to an internal document reviewed by Business Insider and an employee familiar with the matter. However, a Google spokesperson said that number was lower. Teams responsible for consulting, partner engineering, and sustainability were reportedly impacted by the cuts, according to the document. In addition, there were several recent new hires laid off, though some have been offered time to find new roles within the company. “We maintain our commitment to investing in areas that are critical to our business and ensure our long-term success,” a Google spokesperson told Business Insider in a statement.

Fisker, May 29, 2024 announcement. Layoff of hundreds of people.

After laying off 15% of its workforce in February, the EV startup is laying off hundreds of employees amid struggles to stay alive, according to TechCrunch. Fisker remains on the hunt for additional funding, a potential buyout, or could prepare for bankruptcy. Founder and CEO Henrik Fisker reportedly announced the cuts during an all-hands meeting held Wednesday morning, after surprisingly directing employees to work from home. The directive tipped off current and former employees to the layoff news according to TechCrunch. Fisker has yet to confirm the total number of impacted employees. However, one current and one laid off employee reportedly estimated that only about 150 people remain at the company. Stay tuned.

Lucid Motors, May 24, 2024 announcement. Layoff of 400 people, 6% of workforce.

Amid a new restructuring plan, Lucid is laying off 400 employees, or 6% of its workforce according to Electrek. The news arrived on Friday in an 8-K filing, which will impact employees at all levels, including leadership and mid-level management. CEO Peter Rawlinson reportedly emailed employees announcing the cuts, but said the layoffs will “not impact our hourly manufacturing and logistics workforce.” The news arrives ahead of what may be Lucid’s most important model yet, as the company is set to launch production of its first electric SUV, the Gravity, by the end of the year. “I’m confident Lucid will deliver the world’s best SUV and dramatically expand our total addressable market,” Rawlinson said.

Foursquare, May 23, 2024 announcement. Layoff of 105 people, 25% of workforce.

In an effort to streamline operations, the local search-and-discovery company is laying off 105 employees, or 25% of its workforce according to TechCrunch. In an internal email viewed by Tech Crunch, CEO Gary Little announced the restructuring to employees to “set the company on more sustainable financial footing.” The cuts will reportedly impact Foursquare's Visits, OCF, and City Guide units. In addition, the company is pausing work on a number of other initiatives, including “Mobile Developers Tools, Geode, and the current version of FSQ Insights,” according to Little's memo. In 2020, Foursquare merged with Factual, another location-focused company, whose location software helped marketers zero in on customer segments.

Guild, May 22, 2024 announcement. Layoff of 300 people, 25% of workforce.

The Denver-based online worker training platform laid off 25% of its workforce, according to The Denver Post. While Guild didn’t specify the number of workers impacted, 300 employees are reportedly out of a job based on an estimated headcount of 1,200 employees. “As Guild’s business continues to grow, we must ensure that we deliver on our mission as efficiently and effectively as possible. To exceed our audacious goals, we shared with employees today that we have decided to restructure our organization. This restructuring resulted in a reduction in our workforce,” said CEO Bijal Shah in a statement obtained by The Denver Post on Wednesday. The restructuring will reportedly allow Guild to “operate more efficiently, innovate faster, and continue to deliver strong outcomes for our stakeholders,” according to Shah. Just one year ago, Guild laid off 172 workers or about 12% of its workforce of more than 1,400 people.

Cue Health, May 22, 2024 announcement. Layoff of entire workforce.

The portable COVID-19 test maker is shutting down business operations at the end of this week in addition to laying off its remaining staff and leadership, according to the San Diego Union-Tribune. The move reportedly arrives in response to the FDA-issued warning letter that urged consumers and health care providers to throw out any unused Cue Health COVID-19 tests due to an increased risk of false results. After laying off 230 employees nearly three weeks ago, the latest round of cuts will impact the remaining 180 employees. Unfortunately for Cue Health, testing needs decreased simultaneously with attention regarding COVID-19.

Silo, May 22, 2024 announcement. Layoff of 30% of workforce.

The Bay Area food supply chain software startup laid off 30% of its workforce, according to TechCrunch. Silo's layoffs are companywide and won't specifically target any department, and will reportedly impact over 24 employees. “At the same time, Silo remains dedicated to serving our customers and the perishables industry at large, and will continue to focus more nimbly on building next-generation supply chain management software solutions,” the company said in a statement to TechCrunch.

TikTok, May 21, 2024 announcement. Layoff of hundreds of people.

TikTok has informed employees of substantial layoff plans that will impact the majority of its workforce of about 1,000 people working across global user operations, content, and marketing teams, according to The Information. The company will also disband its global user operations team that is primarily responsible for user support and user communications, though remaining employees will reportedly be reassigned among the company’s trust and safety, marketing, content and product teams. TikTok has yet to confirm the exact number of layoffs. Stay tuned.

Toshiba, May 16, 2024 announcement. Layoff of 4,000 people, 6% of its domestic workforce.

The Japanese electronics company will eliminate up to 4,000 jobs domestically amid a restructuring effort under new ownership, according to Reuters. The move will reportedly impact up to 6% of Toshiba's domestic workforce, which is a result of the company being delisted in December due to a $13 billion takeover by a consortium led by private equity firm Japan Industrial Partners (JIP). In addition, Toshiba said it would relocate office functions from central Tokyo to Kawasaki, and target an operating profit margin of 10% in three years, according to Reuters. The initiation of the job cuts by the consortium are reportedly a test for private equity in Japan, which was previously viewed negatively due to its rapacious reputation.

Gopuff, May 16, 2024 announcement. Layoff of around 600 people, 6% of workforce.

In an effort to become profitable by the end of 2024, the Philadelphia-based quick-delivery company is laying off 6% of its global staff, according to The Information. Gopuff reportedly has about 10,000 employees, meaning the cuts could impact about 600 people and position the company for its “next leg of growth,” according to Bloomberg. The company has laid off well over 2,000 employees since March 2022.

Atmosphere, May 15, 2024 announcement. Layoff of 106 people.

In a letter issued to the Texas Workforce Commission (TWC), the entertainment company announced layoffs that will impact 106 employees at its Austin headquarters facility, according to MySA. The cuts are set to begin on begin on July 12, which include account executives, engineers, directors, managers and producers, among other roles. Atmosphere was founded in 2019 by brothers Leo and John Resig, and is a spinoff from Chive Media Group.

Indeed, May 13, 2024 announcement. Layoff 1,000 people, 8% of workforce.

On Monday, CEO Chris Hyams shared a public letter with employees announcing layoffs that will impact 1,000 roles, or 8% of Indeed's workforce, according to the memo. “Unlike last year, where our reduction was driven by cost savings, we are taking this action because we need to simplify our organization to make it easier and faster for us to make decisions, and help us to more effectively grow revenue and hires,” Hyams wrote in the memo. Indeed's latest cuts will impact several groups and regions, but they are not across the board like last year's reductions; though they are mostly concentrated in the US, and are more focused on R&D and some Go-to-Market teams. As a result of the restructuring, Sales and CS roles in Foster City, California, will also be eliminated.

Motional, May 10, 2024 announcement. Layoff 550 people, 40% of workforce.

On Tuesday, the autonomous vehicle startup initiated an undisclosed number of companywide layoffs during an all-hands meeting amid a strategic restructuring, according to The Business Journals. However, it was reported that nearly 550 employees had been laid off on Friday, according TechCrunch. The brainchild of a $4 billion joint venture between Hyundai and automotive supplier Aptiv, will halt its commercial operations and delay plans to launch a driverless taxi service powered by the Hyundai Ioniq 5. The concept is being pushed to 2026, which is two years later than it was initially planned. Ideally, Motional's goal is to make progress on its core technology and business model, while preserving capital, according to TechCrunch. Motional reportedly employed over 1,300 people before reducing its workforce by 5% in March 2024.

The commercial operations being paused include autonomous taxi rides in Hyundai Ioniq 5 vehicles in Las Vegas via the Uber and Lyft network, as well as ending autonomous deliveries for Uber Eats customers in Santa Monica. “While we’re excited by our pace of technical progress, and our initial commercial deployments have yielded valuable insights, large-scale deployment of AVs remains a goal for the future, not the present,” wrote Motional CEO Karl Iagnemma in a public blog post.

Rivian, May 10, 2024 announcement. Layoff of 120 people.

The EV maker is laying off 120 employees according to the San Francisco Chronicle. The cuts reportedly include 28 positions across various departments at its Palo Alto office, along with a recruiter position in San Francisco. This is in addition to 92 roles at its facilities in Southern California. This is the second round of cuts at the company, after it laid off 150 employees in the Bay Area in an effort to decrease its salaried staff by 10%. Rivian also let go of 240 employees in Palo Alto in February 2023.

Google, May 10, 2024 announcement. Layoff of 57 people.

Google announced plans to cut 57 positions across several roles in San Francisco through a WARN notice filed with California authorities, according to the San Francisco Chronicle. The permanent layoffs are set to begin on June 9 and continue through the month, which reportedly include managers, engineers, and analysts. This announcement arrives just nine days after Google laid off at least 200 employees from its “Core” teams, which includes moving some roles to India and Mexico, according to CNBC.

Vacasa, May 9, 2024 announcement. Layoff of 800 people, 13% of workforce.

In an effort to restructure the business, Vacasa announced that it laid off 800 employees, or 13% of its workforce, according to Skift. Vacasa's cuts reportedly included 40% of its corporate and central operations staff, and 6% of its employees in the field amid elevated homeowner churn and weakness in nights sold per home approaching the summer travel season. “These changes will implement a reorganization of the Company’s operations, to further equip its field teams to locally manage, and be accountable for, their markets, while significantly reducing the .Company’s central corporate footprint,” Vacasa said in a financial filing on Thursday. The restructuring would reportedly cost the company $8 million to $9 million, including severance and benefits payments. In addition, Chief Commercial Officer T.J. Clark will be replaced as part of the move. “We believed the headwinds we were experiencing were beginning to ease, and kept a close eye on our targets. As the year has progressed, it has become increasingly apparent this is unlikely to be the case and we are in for another difficult year,” said CEO Rob Greyber in a memo to employees obtained by Skift.

PrepLadder, May 8, 2024 announcement. Layoff of 145 people, 25% of workforce.

Amid a sales strategy shift, the medical entrance test platform has laid off 145 employees, or 25% of its workforce, according to Inc42. This is PrepLadder's third round of cuts in the past three years. The startup was acquired by the Unacademy Group in 2020, and the move appears to be a result of Unacademy getting involved in PrepLadder's daily operations. While Unacadmey confirmed the cuts, it did not detail the total number of employees impacted. However, sources aware of the restructure said that employees across sales, marketing, product, and tech teams were let go. The on-field sales team reportedly had 100 layoffs.

Simpl, May 8, 2024 announcement. Layoff of 170 people, 25% of workforce.

The buy now, pay later (BNPL) fintech company has laid off nearly 170 employees, or 25% of its workforce across various departments and roles, especially those in higher-paying functions like engineering and product, according to Moneycontrol. Simpl's monthly cash burn has reportedly remained high, while new user acquisitions have slowed down according to founder and CEO Nityanand Sharma, who announced the news during a companywide town hall meeting on Wednesday. The move arrives amid cost-cutting measures to work towards profitability according to sources familiar with the matter. This is the second round of cuts in consecutive years at Simpl, as nearly 170 employees were laid off in March 2023 as well. India's BNPL credit startups are facing increased pressure due to the Reserve Bank of India's tight scrutiny.

Brilliant May 8, 2024 announcement. Layoff of entire workforce.

CEO Aaron Emigh confirmed that the smart home startup has laid off its entire workforce, shut down its support center, and stopped selling its products in an exclusive interview with The Verge, according to the publication. Brilliant will maintain its servers, and existing devices will continue to operate in customers' homes despite the news. However, Emigh wouldn't commit to just how long this strategy will stay in place, though he hopes the servers and current devices in use stay functional “indefinitely.” “[The company] will be sold. We have a number of interested parties, and we will run a very quick bidding process and sell it,” Emigh said in a statement to The Verge. Users reportedly noticed the inability to connect with customer support, though Emigh suggested otherwise. “Everything is still working; everything is still being monitored. It’s my hope and expectation that customers won’t notice anything different as we transition to new ownership,” Emigh said. Stay tuned.

Enovix, May 6, 2024 announcement. Layoff of 170 people, 33% of workforce.

Just one week after reportedly landing a battery development agreement with an unnamed maker of smartphones, silicon battery maker Enovix laid off 170 employees at its Fremont, Calif., factory on Monday, according to The Information. The restructuring exercise appears to part of a larger strategy to reduce annual operating costs by $35 million before the end of the year, which was announced by the company last week. Enovix's latest round of cuts arrives seven months after it laid off 185 engineers and other staff in Fremont. In addition, Enovix has moved most of its operations to Malaysia, based on the majority of its intended customers being located in Asia.

Cue Health, May 3, 2024 announcement. Layoff of 230 people, 49% of workforce.

The biotech company is initiating a new cost-cutting strategy that include layoffs that will impact 230 employees, or 49% of its workforce, according to Becker's Health IT. The San Diego-based company known for its rapid COVID-19 test, reportedly filed documents with the U.S. Securities and Exchange Commission confirming the cuts. The strategy behind the move is to lower its cost framework and enhance operational effectiveness, according to Cue Health.

Luminar, May 3, 2024 announcement. Layoff of 140 people, 20% of workforce.

Luminar is laying off 140 employees, or 20% of its workforce, amid plans to rely heavier on its contract manufacturing partner as part of a restructuring, according to TechCrunch. In an effort to scale production, the strategy will transition the company to a more “asset-light” business model. The layoffs will also include ending relationships with the majority of its contract workers immediately. “Today, we stand at the crossroads of two realities: the core of our business has never been stronger across technology, product, industrialization, and commercialization; yet at the same time the capital markets perception of our company has never been more challenging,” Founder and CEO Austin Russell said in a letter to employees that was posted to Luminar’s website. According to Russell's letter, Luminar's new structure will allow it to get next-generation products to market faster, drastically reduce costs, and drive better profitability.

Sprinklr, May 3, 2024 announcement. Layoff of 116 people, 3% of workforce.

In an effort to realign its customer operations team, the New York-based firm offering a customer experience management platform to global brands has laid off 116 employees, or 3% of its workforce, according to TechCrunch. Microsoft, Samsung, P&G and over 60% of the Fortune 100 companies globally are counted as customers of Sprinklr. This is the second round of cuts at the company, after it laid off 4% of its workforce in February 2023. According to TechCrunch, impacted employees in markets including the U.S. and India were notified of the restructure on Thursday. “Sprinklr made the strategic business decision to realign our headcount across our customer operations organization. While these decisions are hard to make, they reflect the commitments we’ve outlined to restructure our business to accelerate our go-to-market efficiencies and better serve customers,” a company spokesperson said in a statement obtained by TechCrunch. C-level roles at Sprinklr will reportedly remain unaffected.

Peloton, May 2, 2024 announcement. Layoff of 400 people, 15% of workforce.

CEO Barry McCarthy will be stepping down and Peloton will lay off 15% of its global workforce, or 400 employees, in an effort to bring spending in line with its revenue, according to CNBC. McCarthy will reportedly become a strategic advisor to Peloton through the end of the year while Karen Boone, the company’s chairperson, and director Chris Bruzzo will serve as interim co-CEOs, while the company looks for a permanent CEO. In addition to these moves, Peloton will continue to close retail showrooms and restructure its international sales plan. According to a company news release, the moves are designed to realign Peloton’s cost structure with the current size of its business. “This restructuring will position Peloton for sustained, positive free cash flow, while enabling the company to continue to invest in software, hardware and content innovation, improvements to its member support experience, and optimizations to marketing efforts to scale the business,” the company said in its statement viewed by CNBC. Its last round of cuts announced in October 2022 impacted 500 employees.

Google, May 1, 2024 announcement. Layoff of 200 people.

Amid an ongoing reorganization effort, Google has laid off at least 200 employees from its “Core” teams, which includes moving some roles to India and Mexico, according to CNBC. Google's Core unit builds the technical foundation that supports the company’s flagship products and protects users’ online safety, according to its website. In addition, Core teams reportedly include key technical units from IT, its Python developer team, technical infrastructure, security foundation, app platforms, core developers, and various engineering roles. “We intend to maintain our current global footprint while also expanding in high-growth global workforce locations so that we can operate closer to our partners and developer communities,” Asim Husain, vice president of Google Developer Ecosystem, wrote in an email to employees last week regarding the cuts obtained by CNBC. The Core layoffs will also impact the governance and protected data group, which are reportedly at the center of regulatory challenges at Google, arriving as a notable development as lawmakers across the globe focus more on the future of AI. Google is streamlining the teams responsible for it developer tools as it continues to implement AI into product offerings.

Assurance IQ, May 1, 2024 announcement. Layoff of 112 people.

The Seattle-based tech startup is being shutdown just five years after being acquired by insurance giant Prudential, according to GeekWire. Starting on July 3, 112 employees are being laid off by Assurance as a result of the shutdown. The Company uses technology to match consumers with insurance plans that are purchased online or through an agent. “As we look to the future, we believe that directly investing in our core businesses and capabilities will help us become a higher growth, more capital efficient company. After a careful review of our businesses and strategic initiatives, we have made the difficult decision to wind down our Assurance business,” Caroline Feeney, head of Prudential’s U.S. businesses, wrote in an email to employees obtained by GeekWire. At the time of the deal, its acquisition to Prudential was one of the largest in Seattle tech history, and the largest insurance tech exit in history, according to Financial Technology Partners.

April 2024 Tech Layoffs

Tesla, April 30, 2024 announcement. Layoff of 500 people.

Just weeks after parting with 14,000 employees, or 10% of its global workforce, Tesla announced that it will layoff 500 more employees and several executives, according to The Information. The cuts will directly impact the majority its Supercharging team, including the departure of Rebecca Tinucci, Tesla’s senior director of EV charging, who oversaw the 500-person team. According to The Verge, Tinucci led the rollout of Tesla’s Supercharger network during her six-year tenure, which included efforts to get other companies to adopt to adopt the North American Charging Standard (NACS) developed by Tesla. In pursuit of taking over the EV charging space, Tesla announced that is was opening up its more reliable Supercharger stations and network to other automakers in November 2022. Ford, GM, Volkswagen Group, BMW, and several others were reportedly part of the roster set to adopt Tesla’s charging standard for their future EVs. However, that strategy appears to be taking a serious hit as a result of the layoffs.

Tesla's layoffs reportedly included Daniel Ho, a ten-year Tesla veteran who served as director of vehicle programs and new product initiatives, and as program manager for the Model S, 3, and Y vehicles. The team Ho led is also being cut as a result of the restructure. In addition these departures, most of the public policy team led by former head of policy and business development Rohan Patel (who left the company during the previous wave of layoffs) are also being let go, according to The Verge. In a post on X, CEO Elon Musk addressed the company's EV charging strategy, insisting that Tesla remains committed to EV charging, but installations would slow down as an immediate effect of the layoffs.

Google, April 30, 2024 announcement. Layoff of total TBA.

Just two weeks away from Google's I/O developer conference in May, the tech giant has laid off staff across key teams like Flutter, Dart, Python and others, according to reports hared on social media by the impacted employees viewed by TechCrunch. Though Google did confirm the cuts to TechCrunch, it did not specify the teams, roles, or how many employees were impacted as a result of the move. This is the second round of layoffs in April that were initiated, and neither announcement arrived with a specific total of impacted employees. On April 17, Reuters reported cuts at Google that were made in an effort to trim costs.

Prioritizing investments that can enable Google to capitalize on future opportunities appears to be the crux of the moves. “To best position us for these opportunities, throughout the second half of 2023 and into 2024, a number of our teams made changes to become more efficient and work better, remove layers, and align their resources to their biggest product priorities. Through this, we’re simplifying our structures to give employees more opportunity to work on our most innovative and important advances and our biggest company priorities, while reducing bureaucracy and layers,” said Google spokesperson Alex García-Kummert.

Reorganizations are part of Google's normal business model, but the company did confirm that the layoffs were not company-wide. According to TechCrunch, some of the layoffs at Google seem to have been confirmed in a WARN notice filed on April 24. WARN, or the California Worker Adjustment and Retraining Notification Act, requires employers with more than 100 employees to provide a 60-day notice in advance of layoffs. In the filing, Google reportedly said it was laying off a total of 50 employees across three locations in Sunnyvale. Stay tuned.

Getir, April 29, 2024 announcement. Layoff of over 6,000 people.

The instant delivery company announced that it would shut down its operations the U.S., the U.K. and Europe to focus solely on its home market of Turkey, according to TechCrunch. Though Getir made aggressive expansion deals to acquire struggling competitors in a bid to position itself the market leader, the company is now pivoting from that strategy. The closures will reportedly impact nearly 6,000 employees across those markets, while only impacting 7% of Getir's revenues. While several official headcount details remain scarce, Getir did confirm 1,500 layoffs in the U.K. in an announcement shared with journalists. The layoffs will reportedly impact at least 1,100 employees in Germany, but that number could potentially settle closer to 1,800 cuts. In November 2023, Getir picked up 2,300 employees after it acquired FreshDirect in the U.S., but this number could also grow given Getir's activity in the U.S. prior to that acquisition. Stay tuned.

Ola, April 29, 2024 announcement. Layoff of 180 people, 10% of workforce.

The Indian ride-hailing startup announced layoffs that will impact 180 employees, or 10% of its workforce, according to TechCrunch. Ola also let go of CEO Hemant Bakshi, just four months after appointing him to the post in hopes to improve profitability. Earlier this month, Ola ended business operations in the U.K., Australia, and New Zealand. Significant investments in AI and technology reportedly drove the restructure decision. “In line with our vision to serve 1 Billion Indians, and our commitment to drive sustainable growth and enhance efficiency across the organization, we are undergoing a restructuring exercise aimed at improving profitability and preparing ourselves for the next phase of growth,” wrote Founder and Chairman Bhavish Aggarwal in an email to employees.

Fisker, April 29, 2024 announcement. Layoff total TBA.

After laying off 15% of its workforce in February, the EV startup initiated another round of layoffs in an effort to save cash, one week after warning investors of pending cuts to avoid bankruptcy, according to TechCrunch. In an internal email viewed by TechCrunch, Founder and CEO Henrik Fisker told employees Monday morning that Fisker is “continuing to evaluate all viable options for our business, including a potential transaction, and we are committed to identifying potential buyers and pathways to infuse capital into the business.” Though the total layoff headcount remains unconfirmed, Fisker reportedly employed 1,135 people as of April 19. Last week, the company announced it hired a chief restructuring officer who is now in charge of approving Fisker's budget, which includes the decision-making process for any sale of the business.

Healthify, April 27, 2024 announcement. Layoff of 150 people, 27% of workforce.

The Bengaluru-based healthtech startup laid off 150 employees, or 27% of its workforce amid a restructure effort according to Inc42. Healthify's cuts will mainly impact sales and product teams according to the report. “In the next three-four months, our India business will turn EBITDA profitable and this restructuring was an unfortunate but an important step in line with achieving this. We also have to make sure we have enough resource allocation for the global expansion,” said Co-Founder and CEO Tushar Vashist in a statement to Inc42.

Freenome, April 24, 2024 announcement. Layoff of 20% of workforce.

In an effort to continue to build its early cancer detection platform, the private bio tech company is laying off 20% of its workforce across multiple functions, according to a public LinkedIn post from its corporate page. Freenome's move arrives amid a push towards optimizing its structure and resources, which includes the goal to advance the best portfolio of blood-based tests to meet the needs of patients. While a total headcount remains unconfirmed, Freenome's LinkedIn page claims between 501 and 1,000 employees.

The Good Glamm Group, April 18, 2024 announcement. Layoff of 150 people, 15% of workforce.

The content-to-commerce platform is laying off 150 employees, or 15% of its workforce to streamline operations, according to the Economic Times. “This strategic initiative marks the culmination of the company's final phase of team integration with a steadfast aim to be a profitable company in FY25,” the company said in a statement obtained by the Economic Times. In addition, the Mumbai-based firm elevated some of its senior executives. The Good Glamm Group appointed Manan Jain as group chief operating officer, Kartik Rao as group chief people officer and senior vice president of initiatives, and Ashish Jadhav as group head of product.

Google, April 17, 2024 announcement. Layoff total unconfirmed.

In an ongoing effort to cut costs, the technology giant is laying off an unspecified number of employees according to Reuters. A Google spokesperson reportedly said the layoffs are not company-wide and that affected employees will be able to apply for internal roles, though a headcount including the impacted teams was not confirmed. “Throughout the second half of 2023 and into 2024, a number of our teams made changes to become more efficient and work better, remove layers and align their resources to their biggest product priorities,” the spokesperson added. According to Reuters, there will be a small percentage of the impacted roles relocated to hubs that Google is investing in, including India, Chicago, Atlanta and Dublin.

Within the restructure, several teams across Google's finance and real estate units have been impacted. Those departments reportedly include Google's Treasury, Business Services, and Revenue Cash Operations teams, according to Business Insider. In addition, Google's CFO, Ruth Porat, sent an email to staff saying the restructuring includes expanding growth to Bangalore, Mexico City, and Dublin, according to Business Insider.

Take-Two, April 16, 2024 announcement. Layoff of 579 people, 5% of workforce.

The GTA 6 publisher is cancelling several projects in addition to laying off 579 employees, or 5% of its workforce according to IGN. The move arrives amid an effort to streamline its organizational structure despite claims from CEO Strauss Zelnick that Take-Two had “no plans” to initiate layoffs. Take-Two reportedly expects to incur between $160 and $200 million in total charges, with $120 million to $140 million related to title cancellations. While the company appeared to be gearing up for growth driven by its upcoming release of GTA 6 in 2025, those ambitions appear to be cooling off at this time. However, there is a silver lining to the announcement based on Take-Two's recent acquisition of Gearbox from the Embracer Group, which signals a forthcoming confirmation of a new Borderlands game in development.

Tesla, April 15, 2024 announcement. Layoff of 14,000 people, 10% of workforce.

In an effort to cut costs amid increasing competition and declining sales, the electric car company is laying off 14,000 employees, or 10% of its workforce according to The New York Times. “As we prepare the company for the next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity,” wrote CEO Elon Musk in an email to employees, obtained by The New York Times. Senior Vice President, Drew Baglino, also announced his resignation after an 18-year tenure with Tesla in a shocking announcement via X. Tesla's plan to drastically reduce prices during 2023 did increase demand, though it reduced the profit made on each car sale.

However, the strategy isn't as potent today since being introduced. Earlier this month, the EV giant reported a decline in sales that alarmed investors, as its 387,000 global deliveries in the first quarter was down 8.5% from the prior year. Surprisingly, this was the first time Tesla’s quarterly sales have fallen on a year over year basis since the start of the pandemic in 2020.

TikTok, April 11, 2024 announcement. Layoff of over 250 people.

The short-form video hosting platform is laying off more 250 employees in Ireland according to The Journal. TikTok announced an Ireland-based restructure plan back in February that would be a “redesign of our Training and Quality team that will enable us to further enhance our quality assurance processes.” At the time, TikTok said that it would expect the majority of impacted employees to remain in the company, but that doesn't appear to be the case. The Journal has spoken to several impacted employees who have applied for other roles without success, with some citing “insensitive” means of communication regarding the cuts. The move will reportedly impact more than 250 but less than 300 employees according to The Journal.

Hinge Health, April 11, 2024 announcement. Layoff of 10% of workforce.

The virtual physical health company that offers a digital solution to treat chronic musculoskeletal (MSK) conditions is laying off 10% of its workforce, according to TechCrunch. Hinge's LinkedIn page lists upwards of 1,700 employees, and the company reportedly cut various roles with some being engineers. “To accelerate our path to profitability, speed up decision making, and better focus our investments, we have made the decision to realign our organization,” a company spokesperson said in a statement obtained by TechCrunch.

Zoe, April 11, 2024 announcement. Layoff of 20% of workforce.

The stomach health startup is making a move to reduce costs and will layoff 20% of its workforce, according to Sifted. “We have over-expanded our team in a way that’s unsustainable until we have a larger member base,” wrote CEO and Co-Founder Jonathan Wolf in a LinkedIn post. Zoe's corporate LinkedIn page suggests that it has 201-500 current employees, which could mean at least 100 roles would be affected by the cuts. In addition to the cuts, Zoe is “stopping its London office search, will not enhance its US warehouse, and will significantly reduce contract costs,” Wolf added in his announcement.

Scaler, April 10, 2024 announcement. Layoff of 150 people.

To enable long-term growth and sustainability, the tech startup focused on upskilling college students and tech professionals is laying off 150 employees, according to Entrackr. “It is imperative that we look at how we operate for long-term growth and sustainability. As part of this, we have designed a new way of working to be able to achieve sustainable growth while delivering the best learning experience and outcomes for our learners – something that we’ve always been committed to,” said Scaler Co-Founder Abhimanyu Saxena, in a statement obtained by Entrackr. Scaler is parting with employees that primarily serve its marketing and sales departments.

Checkr, April 10, 2024 announcement. Layoff of 382 people, 32% of workforce.

In an effort to “operate more efficiently and ensure long-term health,” the background-screening platform is laying off 382 employees, or 32% of its workforce according to Reuters. Customers of Checkr include the online grocery-delivery firms Instacart and DoorDash, as well as U.S. ride-hailing platform Lyft. Founded in 2014, Checkr has reportedly raised $679 million in funding during that time. TechCrunch broke the initial restructure news by Checkr on Wednesday.

Apple, April 4, 2024 announcement. Layoff of 614 people.

Back on February 27, we reported that the tech giant is ending its extensive, but secretive autonomous EV project that included hundreds of layoffs, according to Bloomberg. While the total count was unconfirmed at that time, we're now getting a fuller picture of the restructure move and its impact. Apple reportedly laid off more than 600 employees in California as part of the decisions to end its car and smartwatch display projects, according to filings with the California Employment Development Department. Bloomberg broke the story last night, which included smartwatch projects as new wrinkle in the restructure.

Its EV project was canned because of indecision among executives about budgeting and overall direction, while the display project ended due to engineering, supplier and financial hurdles. 371 employees were reportedly released at Apple’s main car-related office in Santa Clara, California, which included dozens more at several satellite offices. However, an Apple spokeswoman declined to comment on the number of employees affected by the job cuts.

Lightspeed Commerce, April 3, 2024 announcement. Layoff of 280 people, 10% of workforce.

The Montreal-based technology company is laying off 280 employees, or 10% of its workforce, while founder Dax Dasilva returns as CEO according to BNN Bloomberg. For most of Lightspeed's history, Dasilva has served as its CEO since its inception in 2005, but became executive chairman when he handed the leadership of the company over to JP Chauvet in February 2022. However, in February of this year, Dasilva returned to the CEO role when Chauvet left the company. “Lightspeed is now entering a new phase, one focused on profitable growth to capture the opportunity in front of us,” said Dasilva in a statement obtained by BNN Bloomberg.

Amazon, April 3, 2024 announcement. Layoff of several hundred people.

The tech giant’s cloud computing division, Amazon Web Services, is laying off hundreds of employees across multiple teams according to GeekWire. AWS' sales, marketing, and global services organization will feel the impact of the layoffs in training and certification, and sales operations. In addition, its physical stores technology teams will be impacted by the move. According to the report, Amazon said it’s shifting its focus to self-serve digital training and training programs run by external partners. “The changes we are making are preparing the organization for the future, aligning with our strategy and priorities, and reducing duplication and inefficiency,” wrote SVP Matt Garman in a statement obtained by GeekWire. While the cuts will impact global operations, the heaviest concentration of AWS roles reside in Amazon’s hometown, which means that the decision is likely to have a disproportionate impact on the company’s Seattle workforce.

Ghost Autonomy, April 3, 2024 announcement. Layoff of entire workforce.

The OpenAI-backed startup that developed autonomous driving software for automaker partners is shutting down business operations, according to TechCrunch. Ghost Autonomy will be laying off about 100 employees, while winding down operations in Mountain View, Dallas and Sydney. “The path to long-term profitability was uncertain given the current funding climate and long-term investment required for autonomy development and commercialization. We are exploring potential long-term destinations for our team’s innovations,” the company wrote in a note posted on its website.

The announcement arrives just five months after Ghost utilized OpenAI's Startup Fund to form a partnership that allowed early access to OpenAI's systems and Azure resources from Microsoft. During the early period of the union, Ghost Co-Founder and CEO John Hayes reportedly endorsed the company’s plans of exploring the applications of multimodal LLMs — AI models that can understand text as well as images — in self-driving.

Yummly, April 3, 2024 announcement. Layoff of entire workforce.

The Whirlpool-backed recipe and cooking app and website is laying off its entire workforce, and shutting down business operations according to The Spoon. Whirlpool's goal after acquiring Yummly was to beef up the content team and hire content creators to build a recipe catalog with cooking guidance. Appliance brands are reportedly de-emphasizing apps with human-powered editorial-driven content, especially as many enterprises are looking to leverage generative AI to power new features and content. Yummly's LinkedIn claims at least 51-200 employees as of today.

Byju's, April 2, 2024 announcement. Layoff of 500 people, 3% of workforce.

The edtech giant is restructuring its business amid funding struggles and laying off 500 employees, or 3% of its workforce according to the Business Standard. Byju's is reportedly battling investors and lenders, and is also experiencing a markdown in its valuation. The cuts will impact sales, marketing, and teaching roles at the company, though the overall restructuring of Byju's started last year to let go of about 4,500 employees. The company is under new leadership as Arjun Mohan was elevated as CEO of its India business last year, replacing Mrinal Mohit. In 2023, there were nearly 3,000 employees laid off between October and November. “We are in the final stages of a business restructuring exercise announced in October 2023 to simplify operating structures, reduce cost base, and better cash flow management,” said a spokesperson for Byju’s in a statement obtained by the Business Standard.

March 2024 Tech Layoffs

Dell, March 25, 2024 announcement. Layoff of 6,000 people, 5% of workforce.

In an effort to trim costs, Dell is limiting external hires and laying off 6,000 employees, or 5% of its global workforce according to SiliconAngle. Dwindling demand for personal computers is ongoing, which Dell has grappled with the for nearly two years. According to reports, a February earnings call revealed that its revenue had fallen 11% from the same period a year ago. The enterprise tech giant laid off 6,650 employees during 2023, noting that the layoffs were vital to counter a potential recession and ongoing weakness in the PC market.

ShopBack, March 19, 2024 announcement. Layoff of 195 people, 24% of workforce.

The Singapore-based retail platform is pivoting away from its buy now, pay later (BNPL) services and laying off 195 employees, or 24% of its workforce according to Pymnts. Following salary freezes, positions remained unfilled amid an ongoing restructure that now has a new wrinkle. “I made the mistake of pursuing too many directions as a company and expanding our team too rapidly,” wrote CEO Henry Chan in a public announcement to staff. In 2021 and early 2022, ShopBack scaled up its team from 550 employees to over 900 during “a period when the economy favored expansion over sustainability,” according to Chan.

Project Ronin, March 1, 2024 announcement. Layoff of entire workforce.

In an effort to close its business, the cancer-focused software startup co-founded by Oracle Corp. Chairman Larry Ellison, is laying off 150 employees according to Bloomberg. Project Ronin's product lineup was created to quickly analyze data within electronic medical records systems, though it reportedly struggled to attract paying customers and lacked the finances to continue operating.

February 2024 Tech Layoffs

Phantom Auto, March 12, 2024 announcement. Layoff of entire workforce.

The San Francisco-based remote driving startup is shutting down and laying off its entire workforce after failing to new funding, according to TechCrunch. The move will impact 100 employees at Phantom Auto, which was founded in 2017. The company created an innovative teleoperation platform that allowed a remote driver, sometimes located thousands of miles away, to operate a vehicle if needed. “After seven years of efforts to reshape the future of physical labor at Phantom Auto, we’ve made the tough decision to close operations. there are various factors contributing to this, including market conditions and insufficient funding,” wrote Founder and CEO Shai Magzimof in a LinkedIn post on Tuesday.

Fisker, February 29, 2024 announcement. Layoff of about 200 people, 15% of workforce.

Chairman and CEO Henrik Fisker said the company likely does not have enough cash to survive the next 12 months, and will layoff 15% of its workforce according to TechCrunch. “We also encountered unexpected headwinds in our efforts to establish a direct-to-consumer sales model in both North America and Europe at the same time. There were a number of unanticipated challenges, including rising interest rates, finding enough skilled labor, and identifying appropriate real estate locations to make the DTC model function effectively,” wrote Henrik Fisker in a statement. As a result, the EV startup is actively sourcing ways to raise money as it transitions from direct sales to a dealership model. Fisker reported over 1,300 employees as of the end of September 2023, which means the rightsizing move could impact almost 200 employees.

EA, February 28, 2024 announcement. Layoff of 670 people, 5% of workforce.

On Wednesday, Electronic Arts announced plans to trim office spaces, cancel video game projects, and layoff 670 employees according to CNBC. “This greater focus allows us to drive creativity, accelerate innovation, and double down on our biggest opportunities — including our owned IP, sports, and massive online communities — to deliver the entertainment players want today and tomorrow,” wrote CEO Andrew Wilson in the memo to staff. Wilson believes streamlining EA's operations will enable the delivery of “deeper, more connected experiences for fans everywhere that build community, shape culture, and grow fandom.”

Vacasa, February 28, 2024 announcement. Layoff of 320 people, 5% of workforce.

The Portland-based vacation rental management business is laying off 320 employees, or 5% or its workforce according to The Oregonian. The cuts will impact members of local operations and central teams, while COO John Banczak is leaving the company as of March 31. “Our focus was primarily on eliminating layers of management and optimizing spans of control, while striving to minimize impact to our frontline field employees, to ensure continuity of service and care to our owners and the guests we welcome,” wrote CEO Rob Greyber in a memo to staff.

Sony Interactive, February 27, 2024 announcement. Layoff of 900 people, 8% of workforce.

Sony's Playstation division is downsizing after announcing it will layoff 900 employees, or 8% of its global workforce according to The Verge. Gaming, like many other sectors of the tech industry, has been feeling the heat of macroeconomic changes. The cuts will impact several PlayStation studios, including Insomniac Games, Naughty Dog, Guerrilla Games, and Firesprite. In addition, Sony is closing its London Studio in the UK, which developed PlayStation VR games. Overall, employees across the Americas, Japan, and EMEA and APAC regions will be impacted. “We had to step back, look at our business holistically, and move forward focusing on the long-term sustainability of the company and delivering the best experiences possible for our community,” said PlayStation chief Jim Ryan regarding the restructure. The layoffs reportedly arrived just days after Sony missed a PS5 sales target, which led to stock prices dropping by $10 billion.

Bumble, February 27, 2024 announcement. Layoff of 350 people, 37% of workforce.

The mobile data app creators are laying off 350 employees, or 37% of its workforce as part of a larger restructure according to CNBC. The move will help drive stronger operating leverage and align Bumble's operating model with “future strategic priorities,” which was revealed in its fourth-quarter report. “We believe these actions will strengthen our foundational capabilities and enable us to continue delivering new and engaging user experiences that create healthy and equitable relationships,” CEO Lidiane Jones said in a press release.

Apple, February 27, 2024 announcement. Layoff of 600 of people, autonomous electric car project cancelled.

The tech giant is ending its extensive, but secretive autonomous EV project that include hundreds of layoffs according to Bloomberg. Known internally as “Project Titan,” Apple began working on its exclusive car project in 2014. The news was shared internally during a team meeting Tuesday morning by chief operating officer Jeff Williams and the vice president in charge of Titan, Kevin Lynch. The bombshell reportedly surprised the 2,000 employees working on the project. Apple will assign any remaining employees from this round of cuts to generative AI projects, though it has yet to confirm the total impacted by the move. Former executives at Ford, Lamborghini, and Tesla had been tapped to lead the special effort. Stay tuned.

Expedia, February 26, 2024 announcement. Layoff of 1,500 people, 8% of workforce.

CEO Peter Kern announced restructure plans in an internal memo to staff that include layoffs that will impact 1,500 employees, or 8% of its workforce according to GeekWire. Expedia's Product & Technology division will primarily be affected by the cuts, but there will also be executive leadership changes as well. On February 8, GeekWire reported an announcement by Expedia Group revealing that Kern will be stepping down as CEO in May. His replacement will be Ariane Gorin, currently president of Expedia for Business, though Kern will remain vice chairman and stay on the board.

“With so much technical achievement over the last 12 months and so much tech debt behind us, we now are obliged to take a close look at roles, skills, teams, and locations to ensure that our resources are focused in the right areas,” Kern wrote in the memo, obtained by GeekWire. The Expedia Group includes popular brands such as vrbo, Orbitz, Hotwire, Trivago, and Hotels.com in addition to the flagship Expedia.com.

Vice Media, February 22, 2024 announcement. Layoff of hundreds of workers.

The former digital media titan will not publish any new content on its platform amid plans to layoff hundreds of employees according to CBS News. CEO Bruce Dixon announced the restructure plans to employees in an internal memo, which will include a shift to a studio-only business model. Vice's women's lifestyle site Refinery 29 will continue to run, though Vice is in advanced talks to sell the business, according to Dixon. The company filed for bankruptcy in May 2023, before being sold for $350 million to a consortium led by private equity firm Fortress Investment Group, which had been listed as its biggest creditor. Vice has yet to confirm the total number of impacted employees - stay tuned.

BuzzFeed, February 21, 2024 announcement. Layoff of 16% of workforce.

As part of its ongoing restructure, BuzzFeed is selling its youth-culture media company Complex, and laying off 16% of its workforce according to Variety. On February 21, BuzzFeed announced that it closed the sale of Complex to ecommerce platform Ntwrk in a $108.6 million all-cash deal. In collaboration with Complex, Ntwrk said that it will build a “next-generation content and shopping experience” that it described as a “new destination for ‘superfan’ culture that will define the future of commerce, digital media and music.” According to reports, Universal Music Group, Jimmy Iovine, Main Street Advisors, and Goldman Sachs will invest in the new merger.

BuzzFeed's latest cuts arrive less than one year after it shut down its unprofitable BuzzFeed News division and laid off nearly 180 employees in April 2023. “The sale of Complex represents an important strategic step for BuzzFeed Inc. as we adapt our business to be more profitable, more nimble and more innovative,” BuzzFeed CEO Jonah Peretti said in a statement obtained by Variety. According to Ntwrk, the new company will combine “an e-commerce platform anchored in sneakers, streetwear and collectibles with content and music.”

Rivian, February 21, 2024 announcement. Layoff of 10% of workforce.

In an email to staff, CEO RJ Scaringe announced cost cutting plans that include a 10% workforce reduction of salaried employees according to TechCrunch. The EV company is feeling the heat in a market that continues to become tougher to navigate, which has raised the stakes on the potential success of Rivian's more affordable EV called the R2. As part of the cuts, a limited number of non-manufacturing hourly employees will also be impacted. This is the third round of layoffs at Rivian since it cut 6% of its workforce June 2022, while another 6% of its employees were laid off in February 2023.

“Our business is facing a challenging macroeconomic environment — including historically high interest rates and geopolitical uncertainty — and we need to make purposeful changes now to ensure our promising future,” Scaringe said in the memo. While a total headcount wasn't confirmed by Rivian, their LinkedIn account boasts over 10,000 employees.

Meati Foods, February 20, 2024 announcement. Layoff of 13% of workforce.

The alternative protein maker is laying off 13% of its workforce to “build a financially sustainable business,” according to CEO Phil Graves in a statement to TechCrunch. Graves is now CEO after being named the CFO at Meati Foods earlier this month, while Co-Founder Tyler Huggins will transition into the role of chief innovation officer. Huggins is managing Meati's brand refocus, as it gears up to release more of its MushroomRoot product in 2024.

Farfetch, February 16, 2024 announcement. Layoff of 2,000 people, 25% of workforce.

In an effort to streamline business operations, the luxury etailer shared an internal memo with staff announcing layoffs that will impact 2,000 employees or at least 25% of its workforce, according to Drapers. The cuts will affect teams responsible for product design and Farfetch Platform Solutions - which is the suite of commerce solutions and retail technology designed for use by brands and retailers. On Wednesday, February 15, Farfetch founder José Neves stepped down from his role as CEO, though this wasn't the only large domino to fall amongst Farfetch's executive team.

According to reports, CFO Tim Stone, Chief Product Officer Hélder Dias, Chief Platform Officer Kelly Kowal, Chief Marketplace Officer Edward Sabbagh, Americas President Sindhura Sarikonda, COO Luís Teixeira, Chief Marketing Officer Nick Tran and Browns CEO Elizabeth Von Der Goltz “will be moving on to pursue other endeavors”. “We have decided to streamline the business to allow us to operate from a position of financial strength. While it’s never easy to go through this process, this was a necessary decision to secure the future of our business,” Farfetch's internal memo stated.

Toast, February 15, 2024 announcement. Layoff of 550 people, 10% of workforce.

The restaurant management software provider is laying off 550 employees or 10% of its workforce according to CNBC. This announcement arrives weeks after Aman Narang, Toast’s co-founder and COO, replaced Chris Comparato as CEO. Toast's infrastructure that enabled mobile ordering and payments boomed during the pandemic, which pushed several restaurants to utilize Toast. At the time, the adoption trends helped double the company's revenue.

May Mobility, February 15, 2024 announcement. Layoff of 13% of workforce.

The Michigan-based autonomous vehicle company is laying off 13% of its workforce in an effort to optimize business operations according to according to The Detroit News. “As we strive to achieve our mission, we're taking proactive and strategic steps to increase our focus on the company's highest business priorities,” May Mobility said in a statement to The Detroit News.

Cisco, February 14, 2024 announcement. Layoff of 4,250 people, 5% of workforce.

The tech giant is in the process of rightsizing operations after announcing layoffs that will impact 4,250 employees, or 5% of its workforce according to CNBC. The economic downturn and post-pandemic landscape has severely altered the future of the tech industry's workforce, as demand remains sluggish among telecommunications and cable service provider clients according to CEO Chuck Robbins. Cisco has yet to close its $28 billion acquisition of monitoring and security software maker Splunk, though the deal appears to be nearing completion later in the first quarter or early in the second quarter, per Robbins.

Away, February 13, 2024 announcement. Layoff of 25% of workforce.

The New York City-based luggage company is laying off 25% of its internal workforce to promote growth amid a challenging economic landscape and increased competition according to the Inc. Though Away declined to acknowledge its current staffing totals, PitchBook data lists the company's roster as having a total of 250 employees as of June 2023. “We're reconfiguring the traditional exec team structure in order to promote better decision-making. What I think this is doing is setting us up to be able to grow the right teams to work on the right projects,” said Co-Founder and CEO Jen Rubio in a statement obtained by the Inc.

Instacart, February 13, 2024 announcement. Layoff of 250 people, 7% of workforce.

The online delivery company is laying off 250 employees accounting for 7% of its workforce, amid an internal restructure according to CNBC. The cuts will impact several areas such as middle management to create a flatter organizational structure, including teams responsible for advertising efforts on Roku, Google Ads and more. Chief Operating Officer Asha Sharma, Chief Technology Officer Varouj Chitilian, and Chief Architect JJ Zhuang are reportedly leaving the company for personal reasons. According to CNBC, Instacart will only backfill the CTO role.

Pure Storage, February 8, 2024 announcement. Layoff of 275 people, 4% of workforce.

The data management company is laying off 275 employees accounting for 4% of its workforce according to Blocks and Files. This move follows two previous rounds of cuts in January and April of last year at Pure Storage. Teams responsible for managing the company’s partnerships, as well as several of its flash storage arrays’ software features have been directly impacted. These teams were also tasked with developing Pure Storage’s database, AI and analytics features, and its unstructured data management capabilities according to the SiliconANGLE.

Getaround, February 8, 2024 announcement. Layoff of 30% of workforce.

The car sharing company that enables vehicle owners to rent out their assets is laying off 30% of its workforce as part of a restructure plan according to TechCrunch. Getaround is focused on creating a path to profitability by restructuring its workforce and operations to reduce costs, though it wouldn’t reveal the total of impacted employees that currently staff its operations in North America and Europe. “Our focus on profitability and sustainable business growth necessitated this difficult workforce reduction program,” Getaround CEO Sam Zaid said in a statement obtained by TechCrunch.

Grammarly, February 7, 2024 announcement. Layoff of 230 people.

In an effort to restructure and focus on an “AI-enabled workplace of the future,” Grammarly announced it is laying off 230 employees from its global workforce according to a company blog post. CEO Rahul Roy-Chowdhury shared the news with staff through an internal memo that was also posted to its corporate blog. “As we strengthen our focus toward driving the AI-enabled workplace and deepen our technical investments in AI, we will need a different mix of capabilities and skillsets. We also need to redesign our organization to improve the quality and speed of collaboration — and that means, among other things, restructuring roles and co-locating certain teams,” Roy-Chowdhury wrote in the memo. According to Roy-Chowdhury, this was not a cost cutting move, as Grammarly is growing and remains profitable. The company will also continue to hire across a variety of departments and roles globally.

Docusign, February 6, 2024 announcement. Layoff of 440 people, 6% of workforce.

The online signature provider initiated a restructure plan to improve financial and operational efficiency that includes layoffs impacting 440 employees or 6% of its workforce, according to CNBC. DocuSign's sales and marketing teams will be impacted most by the cuts, but the plan won't be completed until the end of its second fiscal quarter of 2025.

Amazon, February 6, 2024 announcement. Layoff of 400 people.

In an effort to drastically decrease operating losses, Amazon is laying off 400 employees across its healthcare units at One Medical and Amazon Pharmacy according to Reuters. Amazon Healthcare Services executive Neil Lindsay shared the news with employees in a memo on Tuesday, which revealed Amazon's request for the healthcare company to save an additional $100 million through this restructure.

Snap, February 5, 2024 announcement. Layoff of 500 people, 10% of workforce.

In an effort to promote in-person collaboration, the social media company is laying off 500 employees or 10% of its global workforce according to CNBC. Snap's last major restructure impacted its business lines and 20% of its staff in August 2022. Several social media executives have dealt with scrutiny over the software's impact on children, including CEO Evan Spiegel, who testified before the Senate Judiciary Committee last week.

Drizly, February 5, 2024 announcement. Layoff of entire workforce.

Uber acquired the Boston-based alcohol delivery pioneer for $1.1 billion in 2021, but Drizly is shutting down business operations and laying off its entire 168-person workforce according to a Boston.com report. The shutdown will slowly continue through the end of March, while layoffs will become official by August.

Cue Health, February 2, 2024 announcement. Layoff of 245 people, 30% of workforce.

The biotechnology company over-hired during the coronavirus pandemic, leading to this layoff announcement that will impact 245 employees or 30% of its global workforce according to The San Diego Union-Tribune. Cue Health's workforce exploded in size, growing from 99 employees in January 2020 to 1,515 full-time employees at the end of 2022. The company dominated the niche testing industry created by the pandemic after quickly landing major deals with Google, the NBA, and the U.S. government. When demands for testing were at a fever pitch, its 20-minute molecular test kits were the first of its kind to get fast-tracked approval from the U.S. Food and Drug Administration. The world has slowly returned to some normalcy, causing Cue to layoff 884 employees since June 2022. There is a mixed bag of positions being impacted, including Cue's vice president of investor relations, head of talent acquisition, division managers, software developers and production roles.

Twig, February 2, 2024 announcement. Layoff of entire workforce.

The London-based fintech company has entered liquidation as of Friday, which will include shutting down business operations according to Fintech Futures. Though Twig has yet to confirm the number of employees that will be impacted, its corporate LinkedIn profile claims around 200 employees. On January 23, Anthony Hyams and Kelly Knight of Insolve Plus were reportedly appointed to liquidate Twig and its subsidiary, the mobile phone reselling platform Mobi Market. Twig's calling card positioned it as a “bank of things,” by providing a platform that enables customers to sell their unwanted belongings through its app for cash.

Okta, February 1, 2024 announcement. Layoff of 400 people, 7% of workforce.

In an effort to streamline operational costs, the identity management company is laying off 400 employees or 7% of its workforce according to CNBC. CEO Todd McKinnon broke the news to employees through an internal memo citing operational costs that are “still too high.” “To capture our massive potential and build an iconic company, we must be thoughtful about where we place our bets. This action is a proactive measure to help set the company up for long-term success,” McKinnon wrote in the memo. Like Zoom, Okta also made its last round of cuts in February 2023, which impacted 300 employees at the time.

Zoom, February 1, 2024 announcement. Layoff of 150 people, 2% of workforce.

The video software company is joining the restructure movement after initiating layoffs today that will impact 150 employees or 2% of its workforce according to CNBC. Zoom acknowledged that the cuts aren't company wide, and it will continue hiring for roles in artificial AI, sales, product and across operations in 2024. Like many other tech companies, Zoom's popularity skyrocketed during the pandemic as video conferencing became more critical globally. In response to economic uncertainty, Zoom cut 15% of its workforce in February of last year. “We regularly evaluate our teams to ensure alignment with our strategy,” said a company spokesperson in a statement to CNBC. “As part of this effort, we are rescoping roles to add capabilities and continue to hire in critical areas for the future.”

January 2024 Tech Layoffs

Proofpoint, January 31, 2024 announcement. Layoff of 300 people, 6% of workforce.

The cybersecurity company is laying off 280 employees or 6% of its workforce, including around 20 employees in its Israel offices totaling 300 workers according to CTech. “This decision was not taken lightly, and it is deeply rooted in our forward-looking company strategy of aligning our investments and hiring to our strategic priorities, expanding our operational footprint by leveraging a global talent pool, and streamlining our organization with fewer management layers,” Proofpoint said in a statement to CTech. Proofpoint was acquired by private equity giant Thoma Bravo for $12.3 billion in 2021.

The Messenger, January 31, 2024 announcement. Layoff of entire workforce.

The digital news startup was just launched in May 2023, but is now shutting down business operations after reportedly running out of money, according to NBC News. Jimmy Finkelstein, who previously owned The Hollywood Reporter and The Hill, led the startup company from its inception and promised to provide “thorough, objective, non-partisan, and timely news coverage” in a time of bias and misinformation. As of Wednesday night, The Messenger's website displayed a blank white screen with only the words “The Messenger.” in black text with a company email address. There are no navigational buttons, articles or content, current or past, available for interaction.

“Over the past few weeks, literally until earlier today, we exhausted every option available and have endeavored to raise sufficient capital to reach profitability, Finkelstein wrote in an internal email to employees obtained by NBC News. The Messenger's corporate LinkedIn profile listed 201-500 current employees prior to the layoff announcement.”

PayPal, January 30, 2024 announcement. Layoff of 2,500 people, 9% of workforce.

With stiff competition on the rise and the pressures of profitability mounting, CEO Alex Chriss announced layoffs impacting 2,500 employees or 9% of PayPal's workforce in an internal memo, according to Business Insider. The bombshell arrives over one year after PayPal insisted it would trim its staff by 2,000 roles in January last year. The cuts announced today will also impact open and future job listings in 2024. “We are doing this to right-size our business, allowing us to move with the speed needed to deliver for our customers and drive profitable growth. At the same time, we will continue to invest in areas of the business we believe will create and accelerate growth. Over the next year, we will work together to maximize our reach, scale, and resources, so that we can have an even greater impact for the customers we serve,” Chriss wrote in the memo.

The former Intuit exec is still relatively new on the job after being named President and CEO in September of last year. Last week brought Chriss' first major announcement as CEO, where he revealed plans to launch a series of tools using AI intended to “revolutionize commerce.” According to Business Insider, the forthcoming AI-powered products include “smart receipts” that utilizes AI to send personalized recommendations to customers in their email receipts.

Block, January 30, 2024 announcement. Layoff of 1,000 people, 10% of workforce.

Co-founder and CEO Jack Dorsey announced layoffs today that will impact 1,000 employees or 10% of Block's workforce in a note to staff obtained by Business Insider. The fintech company is making its second round of cuts in just two months, after laying off 40 employees tasked with working on the music-streaming app Tidal. In an effort to get leaner, Block is parting ways with staffers that make up its subsidies such as Cash App, Foundational, and Square. “Cash assessed each team's position against Cash App's long-term strategy to determine where reduction, consolidation, or reorganization is needed — Global, Marketing, and Commerce are most affected, however every discipline is getting leaner,” Dorsey wrote in the memo.

iRobot, January 29, 2024 announcement. Layoff of 350 people, 31% of workforce.

Amazon will no longer acquire the popular vacuum-maker iRobot after a mutual agreement on Monday, while iRobot initiated layoffs that will impact 350 employees or 31% of its workforce according to CNBC. The company cited regulatory hurdles as the catalyst for the cancellation announcement in a released statement. “Undue and disproportionate regulatory hurdles discourage entrepreneurs, who should be able to see acquisition as one path to success, and that hurts both consumers and competition—the very things that regulators say they're trying to protect,” said the company in its statement.

According to reports from The Wall Street Journal, the likelihood of the deal became bleak after the European Union and its executive body known as The Commission, refused to offer regulatory approval. The Commission felt that any rival's ability to compete in the Amazon Marketplace would be seriously limited as a result of the merger. “Our in-depth investigation preliminarily showed that the acquisition of iRobot would have enabled Amazon to foreclose iRobot’s rivals by restricting or degrading access to the Amazon Stores,” Margrethe Vestager, the European Commission’s executive vice president, said in a statement.

Though Amazon declined to provide comments on the story, it will pay iRobot a previously agreed upon $94 million breakup fee. Moving forward, iRobot has its focus locked on margin improvements, reduced spending on research and development, and all work on “non-floorcare” products will be paused, including its air purifiers and robotic lawn mowers.

Salesforce, January 26, 2024 announcement. Layoff of 700 people, 1% of workforce.

The cloud-based software company announced layoffs today that will impact 700 employees, accounting for 1% of its global workforce according to Reuters. The news was first reported by the Wall Street Journal and also revealed that Salesforce still has 1,000 jobs open company-wide, which signals that the move could be more of a reassignment of the company's workforce. Salesforce already initiated mass cuts last year, when it slashed 10% of its staff and closed some offices, in response to over-hiring during the pandemic. The company did not respond to a Reuters request for comment on the report, but the tech industry's rightsizing movement continues.

Flexport, January 26, 2024 announcement. Layoff of 20% of workforce.

The San Francisco logistics startup is preparing to layoff 20% of its workforce in the coming weeks according to Reuters. Originally reported by The Information, the move comes as a bit of a surprise, especially since Flexport is one of the most valuable U.S. logistics startups. The company initiated identical cuts impacting 600 employees in October, which accounted for 20% of its workforce after founder Ryan Petersen returned as CEO. Last week, Flexport raised an additional $260 million in funding from Shopify according to TechCrunch. Shopify sold its logistics business to Flexport in exchange for a 13% stake in the company in May.

Microsoft, January 25, 2024 announcement. Layoff of 1,900 people, 8% of its gaming division workforce.

The tech giant's latest restructure move will impact 1,900 employees at Activision Blizzard and Xbox according to The Verge. In addition, these layoffs will also impact some ZeniMax employees. Microsoft Gaming CEO Phil Spencer shared an internal memo with employees that was obtained by The Verge. “As we move forward in 2024, the leadership of Microsoft Gaming and Activision Blizzard is committed to aligning on a strategy and an execution plan with a sustainable cost structure that will support the whole of our growing business,” Spencer wrote in the memo to staff.

Executive changes are also taking place at Blizzard, as president Mike Ybarra has decided to leave the company, though Microsoft plans to name a new president next week. Chief Design Officer Allen Adham will also be departing from Blizzard. These changes have led Blizzard to cancel its previously announced survival game. A renewed focus on key products and strategies that enable Blizzard’s future growth, including identified areas of overlap across Blizzard and Microsoft Gaming are the desired results from today's announcement. Microsoft's $68.7 billion acquisition of Activision Blizzard was completed in October.

Business Insider, January 25, 2024 announcement. Layoff of 8% of workforce.

In an effort to cut costs, CEO Barbara Peng announced plans to layoff 8% of Business Insider's workforce in a memo to employees according to The Hill. “This year is about making it happen and focusing our company and efforts towards this future. We have already begun to refocus teams and invest in areas that drive outsize value for our core audience,” Peng wrote in a version of the internal memo shared online today.

Swiggy, January 25, 2024 announcement. Layoff of 400 people, 7% of workforce.

The Indian food delivery startup is laying off 400 employees or 7% of its workforce, as it aims to make additional improvements to its finances prior to a planned IPO later this year according to TechCrunch. Ironically, Swiggy's first round of cuts last year impacted exactly 400 employees as well. While its business has reportedly been profitable for several quarters, Swiggy is not profitable at a group level. Zomato, Swiggy's archrival and competitor, became profitable last year.

SAP, January 23, 2024 announcement. Buyouts or new roles for 8,000 people, 7% of workforce.

The German software company revealed its plans to initiate voluntary buyouts or role changes for 8,000 employees accounting for 7% of its workforce, which is part of a restructure program designed to reposition itself for faster growth according to CNBC. In addition to an already interesting announcement, SAP also shared that its current staffing headcount would remain in tact through this year. SAP reportedly had around 108,000 full-time employees at the end of 2023, after announcing a 2.5% workforce reduction nearly one year ago today.

eBay, January 23, 2024 announcement. Layoff of 1,000 people, 9% of workforce.

The e-commerce giant joins the rightsizing movement in tech after announcing layoffs this week that will impact 1,000 employees accounting for 9% of its workforce, according to CNBC. CEO Jamie Iannone broke the news to employees through eBay's blog, which also revealed that the company “scale back the number of contracts we have within our alternate workforce over the coming months.” Like many other tech companies, eBay's staffing headcount and subsequent expenses drastically outperformed business growth. “To address this, we’re implementing organizational changes that align and consolidate certain teams to improve the end-to-end experience, and better meet the needs of our customers around the world,” Iannone wrote in the memo to staff.

Vroom, January 23, 2024 announcement. Layoff of 800 people, 90% of workforce.

The American used-vehicle company is eliminating its e-commerce operations and winding down its used vehicle dealership business, which means that 800 employees accounting for 90% of its workforce are being laid off according to CTech. Vroom's restructure also includes a Value Maximization Plan approved by is Board of Directors. As part of the plan, the company is suspending transactions through vroom.com, prepping to sell its current used vehicle inventory through wholesale channels, and ending purchases of additional vehicles.

Vroom owns and operates two companies that aid its business model, which will remain active and continue to serve their third-party customers. Those entities are United Auto Credit Corporation (UACC), an automotive finance company, and CarStory, an AI-powered analytics and digital services for automotive retail.

Brex, January 23, 2024 announcement. Layoff of 282 people, 20% of workforce.

The expense management startup announced layoffs impacting 282 employees or 20% of its workforce in a now-public note to staff, according to TechCrunch. Executive staff changes are reportedly included in the restructure as COO, Michael Tannenbaum, is transitioning from his role to become a board member. Camilla Morais, former SVP of global operations, is being promoted to COO, while Cosmin Nicolaescu is transitioning from his role as CTO to an advisor position this summer. “Emphasizing long-term thinking and ownership over short-term gains,” in its comp structure will be Brex's focus moving forward according to Co-Founder and Co-CEO Pedro Franceschi.

Riot Games, January 22, 2024 announcement. Layoff of 530 people, 11% of workforce.

In an effort to move toward a more sustainable future, Riot Games is laying off 530 employees accounting for 11% of its workforce according to CNBC. CEO Dylan Jadeja shared the news with staff through a memo on the company's blog. The company is also scaling back on its division that publishes games from small developers, including its Forge division, which publishes games from indie developers. In addition, 2020's Legends of Runeterra title will move forward with a reduced staff for future projects.

SolarEdge, January 21, 2024 announcement. Layoff of 900 people, 16% of workforce.

In response to a drastic decline in revenue, the renewable energy company that produces systems for managing solar installations is initiating a mass restructure that includes laying off 900 employees accounting for 16% of its workforce, according to CTech. Just two months ago, SolarEdge was part of the S&P 500, though today's outlook is a night and day difference from that moment. Postponed orders and cancellations from customers and distributors in Europe, along with an increase in inventory has contributed to the revenue decline in an already challenging macro environment.

Sports Illustrated, January 19, 2024 announcement. Layoff of thousands.

The sports journalism giant will be laying off most - and possibly all of its staff in a bombshell announcement shared today in a report from USA Today. As a result of the news, the future of the storied publication is now seriously in doubt. “… We were notified by Authentic Brands Group (ABG) that the license under which the Arena Group operates the Sports Illustrated (SI) brand and SI related properties has been officially revoked by ABG. As a result of this license revocation, we will be laying off staff that work on the SI brand,” said an email sent to staff obtained by USA Today. SI's union said it will continue to fight for the publication of the magazine in a tweet shared just two hours ago, though ABG will determine whether or not a final curtain call arrives. While an official layoff total has yet to be announced, the company's LinkedIn profile boasts over 10,0000 employees at this time. Stay tuned.

Wayfair, January 19, 2024 announcement. Layoff of 1,650 people, 13% of workforce.

In an effort to restructure, remove layers of management, and reduce operational costs, the digital home goods retailer announced layoffs today that will impact 1,650 employees, which accounts for 13% of its workforce according to CNBC. Wayfair admitted that it made too many corporate hires during the pandemic, as it looks to part ways with 19% of its corporate team that will directly impact management and leadership roles. This round of layoffs will reportedly save Wayfair $280 million, though this is the third cost cutting move since 2022. “The changes announced today reflect a return to our core principles on resource allocation,” Wayfair’s Co-Founder and CEO, Niraj Shah, said in a statement.

YouTube, January 17, 2024 announcement. Layoff of 100 people.

Google's sprawling restructure that is impacting thousands continues as its video sharing platform will layoff 100 employees according to TechCrunch. In addition to YouTube's staff, Google's cuts have affected teams responsible for engineering, services, and the voice-activated product Google Assistant. “As we’ve said, we’re responsibly investing in our company’s biggest priorities and the significant opportunities ahead,” a Google spokesperson said in a statement provided to TechCrunch. Chief Business Officer Mary Ellen Coe shared the news with YouTube's staff in an internal memo on Wednesday afternoon detailing restructure plans that included cuts and changes to its creator management and operations teams. While affected employees won't be guaranteed another position within the company, they are able to apply for other positions for 60 days before the layoffs are official according to The New York Times.

Veeam, January 12, 2024 announcement. Layoff of 300 people.

Veeam is laying off at least 300 employees to prioritize and align investment areas to mirror the current operational and market landscape according to Blocks and Files. Denise Jongenelen, a senior campaign account manager at Veeam, broke the news via LinkedIn writing that she and “roughly 300 of my colleagues” had been impacted by the restructure. “Like any successful company, during annual planning Veeam makes decisions to prioritize investment areas reflecting the evolution of the business and the market,” said Chief Operating Officer Matthew Bishop in a statement to Veeam. The company doesn't discuss confidential planning publicly according to Bishop, thus the exact number of impacted employees remains unclear. However, Veeam did layoff 200 employees in March of last year.

Playtika, January 11, 2024 announcement. Layoff of 300 people, 10% of workforce.

After laying off 900 employees in 2022, the Israeli gaming company is cutting 300-400 roles accounting for 10% of its workforce in a new round of layoffs, according to CTech. Playtika's latest restructure move won't impact its Israeli offices which currently employ 1,100 employees. The tech industry is off to a busy start to begin 2024, while the gaming sector within tech appears to be heating up as well.

Discord, January 11, 2024 announcement. Layoff of 170 people, 17% of workforce.

In an effort to pursue and infuse more agility into Discord, CEO Jason Citron announced layoffs that will impact 170 employees accounting for 17% its workforce according to The Verge. News of the restructure move was delivered to employees today during an all-hands meeting, including a written memo from Citron obtained by The Verge. Though profitability has yet to be reached, the company is stable financially but needs to reengage and grow its user base after a Covid-19 era spike. Various departments will feel the heat from the move, as Citron echoed a familiar tune of hiring too fast over the last few years - much like several other companies rightsizing within the tech industry. “Today, we are increasingly clear on the need to sharpen our focus and improve the way we work together to bring more agility to our organization,” Citron wrote in the memo. In what has been a busy week for tech restructures and rightsizing, could we see more activity between now and Monday?

Google, January 11, 2024 announcement. Layoff of around 1,000 people.

Google initiated layoffs last night that will impact around 1,000 employees with roles on hardware teams that create Fitbit, Nest, and Pixel products, as well as its core engineering and Google Assistant teams according to The Verge. Google spokesperson Courtenay Mencini said, “a number of our teams made changes to become more efficient and work better” and that “some teams are continuing to make these kinds of organizational changes, which include some role eliminations globally,” when reached for comments by The Verge. Stay tuned.

Amazon (Prime Video, Studios), January 10, 2024 announcement. Layoff total reaching several hundreds.

In an internal memo sent to employees today, Amazon announced that it will be laying off several hundred employees within its streaming and studio operations according to Reuters. Cuts at the company have been arriving in rapid succession over the past two years and appear to be extending into 2024 as well. The tech industry has been reeling from over hiring during the pandemic paired with fluctuating economic conditions, as Amazon cut more than 27,000 jobs last year alone. According to reports, the impacted employees at Prime Video and Amazon MGM Studios in the Americas will be notified today, while many other regions will learn their fate by the end of the week.

“We've identified opportunities to reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact,” wrote Mike Hopkins, senior vice president of Prime Video and Amazon MGM Studios, to employees in a note seen by Reuters. Stay tuned to our tracker for this developing story.

Citrix, January 10, 2024 announcement. Layoff of 1,000 people, 12% of workforce.

The popular cloud vendor is going through a restructure to streamline business operations, as its parent company Cloud Software Group (CSG) initiated layoffs accounting for 12% of its workforce, according to CRN. There appears to be a silver lining within the move, as impacted employees could potentially find work sooner than later. “However, for many of those roles, namely in our Operations, Security and IT functions, we are working with partners who will rehire many of those individuals to continue providing outsourced services to Cloud Software Group,” wrote CEO Tom Krause in a LinkedIn post announcing the cuts. While CSG will continue to hire employees in other business areas, those impacted by the layoffs needed “fewer or different resources” according to Krause.

According to reports, a CSG spokesperson notified CRN that it cut about 1,000 employees globally across business units and corporate teams, though about half those impacted should get rehired amongst Citrix's vast network of nearly 13,000 partners. In an interesting caveat, this week's round of layoffs arrives exactly one year after CSG cut 15% of its workforce that included thousands of jobs. At the time, Citrix was to focus on its top 1,000 customers and leave mid-tier and commercial accounts for service and support by solution providers.

Twitch, January 9, 2024 announcement. Layoff of 500 people, 35% of workforce.

After losing several top executives in 2023 amongst other losses, Amazon's livestreaming site Twitch is laying off 500 employees accounting for 35% of its workforce according to Bloomberg. Though it relies on Amazon's infrastructure, the financial impact of operating a large-scale website supporting 1.8 billion hours of live video content monthly has been severe. Last month, CEO Dan Clancy announced that business operations in South Korea would be shutting down, due to costs being “prohibitively expensive,” according to a public blog post he shared. An official announcement could come as early as Wednesday.

Unity, January 8, 2024 announcement. Layoff of 1,800 people, 25% of workforce.

The San Francisco-based videogame software provider is laying off 1,800 employees accounting for 25% of its workforce in its largest-ever restructure, according to Reuters. On Monday, Unity released an internal memo to staff revealing that the cuts will impact all teams, regions and areas of the business. Unity's “company reset” announced by interim CEO Jim Whitehurst in November appears to be in motion, as the company looks to focus on its core business and drive long-term success and profitability. Though it lacks name recognition outside of the gaming industry, Reuters reports that over 1.1 million game creators rely on Unity's software toolkit each month, including the maker of the popular “Pokemon Go” series. The rightsizing process may not be done yet - this is the fourth round of layoffs initiated since July 2022.

Pitch, January 8, 2024 announcement. Layoff of 80 people, 67% of workforce.

CEO and Co-Founder Christian Reber announced via social media that he is stepping down, while Pitch is laying of 80 employees accounting for 67% of its workforce according to TechCrunch. Reber revealed that Co-Founder and CTO Adam Renklint will step in and takeover immediately, while Reber will retain his board seat. Founded in 2018, Pitch provides a collaborative presentation software for businesses. Instead of building a “hyper-growth company” built on venture funding, Reber insists that the company is resetting business goals by pursuing it’s profitability and then organic growth.

Flexe, January 8, 2024 announcement. Layoff of 99 people, 38% of workforce.

On Monday, CEO Karl Siebrecht confirmed that the Seattle-based logistics startup would be laying off 38% of its workforce in an effort to cut operational costs, according to GeekWire. Once considered a rising star in the logistics industry, Flexe reached a $1 billion valuation in 2022 after it raised a $119 million Series D round. This is Flexe's second round of cuts in less than six months after parting with 131 employees in September in response to current macroeconomic conditions.

NuScale Power, January 5, 2024 announcement. Layoff of 40% of workforce.

Just over one year ago, NuScale Power was leading the next generation of nuclear startups after winning regulatory approval of its reactor design, but as of Friday, the company is parting with 40% of its workforce according to HuffPost. The design innovation was enough to entice the Biden administration, as it began dumping billions of federal dollars into upgrading the nation’s atomic energy industry. NuScale announced the cuts to its staff during a virtual all-hands meeting last week, citing increased operational costs and acknowledging the cancellation of what would have been its first landmark power plant. These issues forced NuScale to drastically drain cash reserves, which helped build the road to a major restructure.

As construction costs continue to climb in the nuclear power industry, HuffPost reported that many industry insiders are betting on small modular reactors to make it cheaper and easier to build new nuclear plants through assembly-line repetition. Building a reactor takes 10 years to finish! Currently, the only new reactors under construction in the U.S. and Europe went billions of dollars over budget in the past two decades.

InVision, January 4, 2024 announcement. Layoff of over 549 people, entire workforce.

The collaborative design software providers will be shutting down business operations at the end of this year according to The Information. InVision's LinkedIn account boasts at least 549 employees actively connected to the social platform, though their profile insists that they employ 500-1,000 employees as of today. CEO Michael Shenkman broke the news to employees through a blogpost Once valued at $2B, the startup raised more than $350 million from investors including Goldman Sachs and Spark Capital.

In 2011, InVision began as a prototyping tool for designers and was used for design collaboration, but has since lost its grip on the market share as Figma was founded in 2016 - bringing UI design and prototyping together. According to the Silicon Republic, a more holistic-leaning design industry brought prototyping and UI design together and pushed InVision to create Freehand, a virtual workboard system created to bring teams together. “We’re so grateful to all of you who invested time and energy into making InVision the incredible company that it’s grown to be. Together we reimagined how designers collaborate, raised the importance of design thinking, and, in the process, helped revolutionise the design industry,” Shenkman wrote. Freehand will survive the shutdown after being acquired by collaboration platform Miro in late 2023.

Frontdesk, January 2, 2024 announcement. Layoff of entire workforce.

The proptech startup that provides short-term rentals for over 1,000 furnished apartments across the United States is laying off its entire 200-person workforce, and could be headed for a shutdown according to TechCrunch. Frontdesk's restructure arrives after unsuccessful attempts to raise more capital, landing just seven months after it acquired smaller rival Zencity according to Skift. On Tuesday, CEO Jesse DePinto reportedly told employees that Frontdesk would be filing for a state receivership, an alternative to bankruptcy, as the company weighs available options before its next move. The cuts will impact both full and part-time workers as well as contractors. Stay tuned.

December 2023 Tech Layoffs

Paytm, December 25, 2023 announcement. Layoff of 1,000 people, 10% of workforce.

Reducing costs and realigning business operations has been a redundant but familiar tune in the tech industry, as Paytm adds itself to the list after laying off 1,000 employees accounting for 10% of its workforce this week, according to TOI. The restructure move arrives after the company exited the business of small-ticket consumer lending along with the ‘buy now pay later’ segment because of regulatory restrictions on unsecured loans by the Reserve Bank of India (RBI). As a result, its lending business Paytm Postpaid will be impacted most, causing the company to shift its focus towards wealth management and insurance broking. Poor performance metrics helped to contribute to the layoffs as Paytm gears up to reach profitability. Payments, lending, operations, and sales teams were impacted most from the restructure.

Intel, December 19, 2023 announcement. Layoff of 311 people.

The technology manufacturing giant is adding to its layoff count for 2023 after announcing cuts impacting 311 employees at its Folsom campus location according to the Folsom Times. 549 employees have already been let go by Intel, while today's announcement pushes that total to 784 layoffs this year. The company has yet to confirm which departments would be impacted most, though stiff competition from AMD and Nvidia and slumping sales continue to plague revenue. “Intel is working to accelerate its strategy while reducing costs through multiple initiatives, including some business and function-specific workforce reductions in areas across the company,” said Intel Spokesman Addy Burr in an issued media statement. Intel will continue invest in areas core to its business according to Burr, including its U.S.-based manufacturing operations, to ensure they are well-positioned for long-term growth.

Enphase Energy, December 18, 2023 announcement. Layoff of 350 people, 10% of workforce.

The global energy management technology company that provides residential and commercial solar plus storage solutions is laying off 350 contractors and employees accounting for 10% of its workforce, according to a public memo shared by President and CEO Badri Kothandaraman. “Over the last few months, we have made significant efforts to reduce our operating costs, but we have more work to do to right-size our operations and become leaner and more efficient,” Kothandaraman wrote. In an effort to enable future growth, Enphase is initiating the move to meet the current macroeconomic environment head on, while continuing to invest in its strategic priorities.

The restructure plan includes a hiring and travel freeze through 2024, as well as discretionary spending in several areas of the business. As part of the global workforce reduction, Kothandaraman said Enphase is “streamlining our operations by ceasing contract manufacturing operations in two locations—Timisoara, Romania and Wisconsin, United States—and resizing other contract manufacturing sites.” Pay increases will also be on hold in 2024 as the company looks to become leaner and more efficient.

Cruise, December 14, 2023 announcement. Layoff of 900 people, 24% of workforce.

In an effort to cut operational costs, the self-driving car subsidiary of General Motors is laying off 900 employees accounting for 24% of its workforce according to TechCrunch. Furthermore, Cruise is still reeling from an October 2 incident that left a pedestrian stuck under and then dragged by one of its robotaxis - which has forced the company to attempt a revamp of its business. On Thursday, newly appointed president and CTO Mo Elshenawy shared a memo with employees detailing that the cuts will target non-engineering jobs, primarily impacting field workers, commercial operations and corporate staffing. The restructure move arrives exactly one day after nine senior leaders (SLT) who worked in its commercial operations, legal and policy departments, were let go by Cruise’s board. According to reports, COO Gil West and David Estrada, who was head of government affairs, were among that group. “These changes reflect our decision to focus on more deliberate commercialization plans with safety as our north star,” Elshenawy wrote in the memo.

Bolt, December 14, 2023 announcement. Layoff of at least 100 people, 29% of workforce.

The e-commerce startup known for providing the one-click checkout system is laying off over 100 employees accounting for 29% of its workforce, according to The San Francisco Standard. Once valued at $11B, Bolt's client list includes popular retailers such as Kay Jewelers, Shinola, and Casper. The company has yet to confirm an official layoff total, as well as the affected departments. However, reports suggest that Bolt's head of creative and members of the creative team shared LinkedIn posts signaling their inclusion in the restructure. Bolt has initiated three layoff rounds within a year, with the most recent announcement that occurred in January. At that time, 50 employees accounting for 10% of its workforce were let go. Stay tuned.

Etsy, December 13, 2023 announcement. Layoff of 225 people, 11% of workforce.

In an effort to restructure operations and streamline costs amid a demanding macro and competitive environment, the e-commerce titan is laying off 225 employees accounting for 11% of its workforce according to CNBC. The move is a surprise, especially being initiated at the height of the holiday season and shopping traffic it brings annually. Though Etsy has doubled in size since 2019, gross merchandise sales have reportedly remained flat since 2021. “This means we are not bringing our sellers more sales, which is the single most important thing we can do for them. At the same time, employee expenses have grown, even as we have introduced significant cost-cutting measures and adjusted or paused hiring plans. This is ultimately not a sustainable trajectory and we must change it,” wrote CEO Josh Silverman in a memo to employees announcing the cuts.

Arriving with the restructure are a couple of executive exits, as Chief Marketing Officer Ryan Scott will be leaving the company and his position will be consolidated under the Chief Operating Officer role currently held by Raina Moskowitz. Chief Human Resources Officer Kimaria Seymour is also leaving the company and will be replaced by Toni Thompson, Etsy's current vice president of global people and talent strategy. 

Sojern, December 13, 2023 announcement. Layoff of at least 100 people, 20% of workforce.

The digital marketing platform for travel companies is laying off 20% of its workforce in an effort to shut down legacy offerings, as Sojern shifts its focus to investing on newer technologies according to Skift. An AI-powered platform that utilizes customer data to allow hotels and travel companies to make more informed marketing decisions and drive direct bookings is the company's bread and butter. “While the company remains profitable, its executives and the board of directors agree that the best course of action to ensure long-term profitable growth is to reduce expenses for the upcoming year,” CEO Mark Rabe said in a statement obtained by Skift. “Instead, we see this as a strategic move that will help us recalibrate our global operations and resources, and better align with the current business landscape as we see it.”

SmileDirectClub, December 9, 2023 announcement. Layoff of entire workforce.

Less than three months after filing for Chapter 11 bankruptcy, the international direct-to-consumer dentistry and orthodontistry company that sold teeth aligners is shutting down business operations according to CNN Business. Founded in 2014, the Nashville-based company sought to make a widely accessible and affordable alternative to traditional orthodontics. Unfortunately, some existing customers may be stranded in the middle of treatment since standard SmileDirectClub teeth-straightening course takes 4-6 months.

Zulily, December 8, 2023 announcement. Layoff of 839 people.

The Seattle-based e-commerce company once thought to be a rival to Amazon is laying off 292 employees, signaling a drastic restructure to its workforce and business operations according to The Seattle Times. According to GeekWire, Zulily will also be shutting down its Pioneer Square headquarters and several other facilities in various states. GeekWire followed up that report with the bombshell that more than 500 employees will be laid as part of Zulily's decision to close fulfillment centers in Lockbourne, Ohio, and McCarran, Nevada, according to a new filings with state employment offices.

The cuts announced this week arrive following turbulent times at Zulily, including multiple rounds of layoffs and the October resignation of its CEO. Just eight months ago, the company was purchased by Regent, a Los Angeles-based private equity firm, from Qurate Retail, which bought Zulily in 2015.

D2iQ, December 8, 2023 announcement. Layoff of entire workforce.

In a past life, the cloud infrastructure startup formerly known as Mesosphere was once popular with software developers, but as of Friday, D2iQ is shutting down business operations according to The Information. Despite raising $250 million in venture funding, the Andreessen Horowitz-backed company sent notices to shareholders detailing the closing and its plan to distribute assets to creditors. D2iQ employed around 150 employees as of this year and at one point was generating tens of millions of dollars in revenue annually according to a former employee. The report also stated that Nutanix, a publicly traded enterprise software firm, acquired some D2iQ assets and intellectual property, and hired some former D2iQ employees, according to a spokesperson familiar with the matter when reached for comment by The Information.

ZestMoney, December 5, 2023 announcement. Layoff of entire workforce.

The Goldman Sachs-backed buy now, pay later startup is laying off 150 employees and shutting down business operations according to TechCrunch. ZestMoney's attempts to find new buyers have been unsuccessful. Experiences such as these helped initiate the restructure move following the departure of its founders in May of this year after acquisition talks with fintech giant PhonePe stalled.

Navan, December 5, 2023 announcement. Layoff of 145 people, 5% of workforce.

The expense management startup company formerly known as TripAction has laid off 145 employees accounting for 5% of its workforce, according to The Information. These cuts arrive as Navan gears up to go public for the first time in its eight year history, after starting initial planning with Goldman Sachs on IPO preparations earlier this year according to reports. “We are refocusing efforts to move faster toward profitability as we enter the next phase of the company. As such, we have made the difficult decision to reduce the size of our global workforce by 5% to increase operational efficiencies as we continue to reinvent travel and expense through innovation,” wrote a Navan spokesperson via email when confirming the news.

Bill.com, December 5, 2023 announcement. Layoff of 15% of workforce.

In an effort to enhance the profitability of its core business, Bill announced a restructure strategy that will reduce its workforce by 15% and close an office in Sydney according to Investing. As a result of its new plan, Bill will redistribute resources to critical priorities serving small and mid-size businesses as it looks to continue to impact the fintech space.

Spotify, December 4, 2023 announcement. Layoff of 1,500 people, 17% of workforce.

After over-hiring during the pandemic era years of 2020 and 2021, Spotify announced layoffs that will impact 1,500 employees accounting for 17% of its workforce according to CNBC. The move arrives amid an adjustment period in response to a slowdown in growth along with the ultimate goal of reducing costs. “Over the last two years, we’ve put significant emphasis on building Spotify into a truly great and sustainable business – one designed to achieve our goal of being the world’s leading audio company and one that will consistently drive profitability and growth into the future,” said CEO Daniel Ek in a public memo to employees. “While we’ve made worthy strides, as I’ve shared many times, we still have work to do. Economic growth has slowed dramatically and capital has become more expensive. Spotify is not an exception to these realities.”

Spotify has been rolling out new ideas after expanding into audio books and podcasts, along with raising the prices of its subscription plans earlier this year. This is their third round of cuts in 2023, after parting with 6% of its workforce in January followed by a 2% reduction in June.

Twilio, December 4, 2023 announcement. Layoff of 300 people, 5% of workforce.

The software provider will make its third restructure move in just over a year, following Monday's announcement confirming layoffs impacting 300 employees accounting for 5% of its workforce, according to CNBC. We reported on Twilio's 17% workforce reduction in February initiated by CEO Jeff Lawson, signaling a need for structural changes to execute its strategy. The latest cuts arrive in an effort to streamline their offerings and will directly impact data and applications teams. These happen to be the two units that activist investors at Legion Partners and Anson Funds are pushing Lawson to sell, and perhaps the entire company. Twilio is also eliminating its Programmable Video product, and updating its approach to selling its Flex digital engagement product by eliminating several Flex sales positions. Those duties and responsibilities will follow retained employees and merge into the existing Communications sales team.

November 2023 Tech Layoffs

Broadcom (VMware), November 30, 2023 announcement. Layoff of 2,110 people.

Broadcom has confirmed an official layoff total of 2,110 employees as of Thursday morning, which is a result of an internal restructure after its $69 billion acquisition of VMware was finalized earlier this week, according to ITPro Today. These metrics are reportedly pieced together from WARN notices that Broadcom has filed in multiple states, with the most recent being announced through a published notice by the Virginia Employment Commission - detailing that 116 people at a Reston, Virginia, location will lose their jobs starting January 26. Prior to the deal becoming official, the Reston office was owned by VMware. The biggest bombshell from the transaction appears to be that Broadcom is laying off 1,276 employees at VMware's previous headquarters in Palo Alto, California.

Furthermore, Broadcom's mass restructure will impact 158 employees in Washington state, 169 employees in New York, 217 employees in Georgia, and 184 employees in Colorado totaling 2,110 cuts at this time. An interesting caveat to this developing story is that state WARN regulations typically only require a company to file if 100 or more employees are impacted, which means that these numbers are more than likely incomplete. According to reports, sources close to the situation at VMware said the total number of cuts will number between 10,000 and 20,000. Stay tuned.

Vox Media, November 30, 2023 announcement. Layoff of 4% of workforce.

In response to a continued battle to grow advertising revenue, the digital media firm announced layoffs that will reduce its workforce by 4% according to The Information. Vox Media owns Vox.com, New York magazine, and The Verge. The restructure will directly impact product, design, technology and analytics teams, as well as Vox.com and the animal-focused outlet The Dodo, according to a Vox Media spokesperson who confirmed the news via The Information. This is Vox's second round of layoffs this year after cutting 7% of its workforce in March.

Unity, November 28, 2023 announcement. Layoff of 265 people, 4% of global workforce.

Not only will the San Francisco-based videogame software provider end an agreement with a digital video effects company founded by the “Lord of the Rings” director Peter Jackson, Unity is also laying off 265 employees accounting for 4% of its global workforce amid an internal reset, according to Reuters. Game developers of popular titles such as “Pokemon Go” utilize a popular industry software toolkit created by Unity. The company rolled out new “runtime fee” pricing policies in September, charging new fees to its game developers if certain revenue and install thresholds were met, but quickly pivoted after a developer revolt that caused share prices to drop.

Furthermore, Unity will shut down offices in 14 locations such as Berlin and Singapore, pending employee consultation in some countries. The company will also drastically reduce its office footprint for the remaining facilities, including in San Francisco and Bellevue, Washington. Their in-office mandate will no longer require employees to work on-site three a days a week, thus reducing its “full in-office services” to three days a week in most locations, the company said.

Dataminr, November 28, 2023 announcement. Layoff of 150 people, 25% of workforce.

In response to the current economic environment, operational efficiencies, and rapid advancement of its AI platform, the New York-based big data company is laying off 150 employees accounting for 25% of its workforce according to TechCrunch. “Dataminr will have multiple years of cash runway and a near-term path to profitability,” as a result of the cuts according to a memo from founder and CEO Ted Bailey obtained by TechCrunch. The move allows Dataminr to shift its focus to progressing its AI platform and products further, as it plans the launch of a new AI platform in Q1 that will combine predictive AI with generative AI.

Tier Mobility, November 28, 2023 announcement. Layoff of 140 people, 22% of workforce.

In an effort to cut costs in pursuit of a never-ending grind toward profitability, the German micromobility operator laid off 22% of its workforce according to TechCrunch. “Unfortunately, this means that we will be making layoffs in a number of countries today - roughly 22% of our combined Central and Regional workforce, with the majority of affected roles sitting centrally,” according to CEO Lawrence Leuschner's LinkedIn post. For many startup companies globally, profitability is now priority number one, while growth and expansion begin to take a back seat in the operational hierarchy. In September, Tier sold off Spin to Bird, another struggling micromobility company, for $19 million.

VMware, November 27, 2023 announcement. Layoff of over 2,100 people.

Following Broadcom's announcement last week that its deal to acquire VMware had closed, thousands of employees reportedly learned that their roles were being eliminated according to Yahoo Finance. “Broadcom recently completed its acquisition of VMware. As part of integration planning, and following an organizational needs assessment, we identified go-forward roles that will be required within the combined company. We regret to inform you that your position is being eliminated and your employment will be terminated,” according to impacted employees that received a separation email on Monday, viewed by Business Insider. However, the total of employees cut has yet to be confirmed since Broadcom did not respond to a request for comments from Yahoo.

In February of this year, VMware employed more than 38,000 people, though they did make restructure moves prior to the acquisition closing according to Business Insider. Based on research from TechTarget via LinkedIn, former employees with roles in marketing, engineering, cloud security, sales and program management are among those being cut. Furthermore, BI reported that many of VMware's top executives left the cloud-computing company over the past year, with some worried about culture clashes due to Broadcom's requirement to return to on-site work. Stay tuned.

ByteDance, November 27, 2023 announcement. Layoff of 1,000 people.

The Chinese internet technology and developer of TikTok is laying off 1,000 employees in its once-promising gaming division according to Nikkei Asia. ByteDance's virtual reality arm Pico laid off 23% of its workforce this month, accounting for 300 employees, amid struggles with global sales. Overall, China's gaming industry has dealt with struggles as a global economic downturn continues to make its presence felt. Despite the decreased investment in gaming and future releases, ByteDance will shift its focus to increasing its exploration of generative AI like many other large tech companies in China. According to Chinese State Media reports, ByteDance invested in more than 19 gaming companies with around 30 billion yuan ($4.2 billion at current rates) between 2019 and 2022.

In terms of its future outlook, ByteDance will maintain its focus on its core businesses such as short-video platform TikTok, Chinese sister app Douyin, and e-commerce. The company believes the gaming division lacks focus and has limited prospects for monetization of titles, according to a person familiar with the restructure.

Our Next Energy, November 27, 2023 announcement. Layoff of 128 people, 25% of workforce.

Reeling from high borrowing costs and an uncertain economy, the electric-vehicle battery startup laid off 128 employees accounting for 25% of its workforce according to Reuters. Our Next Energy (ONE), which was founded by former Apple executive Mujeeb Ijaz, will continue to focus on establishing its giga-factory in Michigan, while also developing a North American supply chain for batteries. In February, ONE said it had raised $300 million in funding, which valued the company at $1.2 billion at that time.

Veev, November 26, 2023 announcement. Layoff of entire workforce.

The construction tech startup focused on building and developing prefab, eco-friendly homes is laying off its entire workforce and shutting down operations according to The Information. Veev was the hotshot newcomer once valued at $1 billion, but investors are not likely to recoup any of the $600 million they put in, even if the company is able to sell some of its assets, according to a person with direct knowledge of the moves. Calcalist reported that the company has to shut down after an “abrupt cancellation of a capital-raising initiative.”

Amazon November 24, 2023 announcement. Strikes and protests across Europe during Black Friday.

The global e-commerce giant dealt with strikes on the busiest shopping day and weekend of the year across Europe in response to its working practices according to Reuters. The report elaborates on the details of “Make Amazon Pay,” which is a campaign coordinated by the UNI Global Union. The Union announced that strikes and protests would take place in more than 30 countries beginning on Black Friday until Cyber Monday. Many retailers advertise and initiate price cuts to breathe life into sales on the day and following weekend after the U.S. Thanksgiving holiday. Historically, many retailers have seen their revenue jump from red into the black on this day alone, hence the name. Amazon has extended this window to 10 days, with holiday discounts available from November 17 until November 27 which creates even more revenue.

Amazon's second-biggest market by sales last year was in Germany according to reports from Reuters. The Trade Union Verdi estimated that around 2,000 employees went on strike across six Amazon fulfillment centers in Germany. In response to a long-standing disagreement over wages in England, over 200 employees went on strike on Friday at Amazon's warehouse in Coventry. The protesting workers were chanting their demand for a pay rise to 15 pounds ($18.69) an hour. Meanwhile in Italy, Trade Union CGIL reportedly confirmed that over 60% of employees at the Amazon warehouse in Castel San Giovanni were on strike. However, Amazon refuted the claim and announced that over 86% of its workforce at the location reported for duty and made no impact on operations. This saga may not end anytime soon, stay tuned.

OpenAI, November 20, 2023 announcement. Over 500 OpenAI Workers Demand Board Resignations in Letter.

Fired CEO Sam Altman will reportedly join Microsoft and could potentially have employees of ChatGPT join him in the move. In what appears to be a threat to follow Altman to Microsoft, hundreds of remaining ChatGPT employees have signed a letter calling for the resignation of the company’s remaining board members.

OpenAI, November 17, 2023 announcement. CEO Sam Altman fired, while President Greg Brockman resigned.

The AI research organization blew the doors off of the tech industry with the bombshell announcement that CEO Sam Altman had been fired, while President Greg Brockman resigned in response to the news, according to reports from our colleague Shane Snider at InformationWeek. “Mr. Altman’s departure follows a deliberative review process by the board, which concluded that he was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities. The board no longer has confidence in his ability to continue leading OpenAI,” said the company in a public statement. Altman helped create OpenAI in 2015, but will now be replaced on an interim basis by CTO Mira Murati. Stay tuned.

Amazon, November 17, 2023 announcement. Layoff of several hundred roles.

As part of a mass shift in direction and a focus on developing new forms of AI, Amazon will terminate several hundred roles in its Alexa division, according to an internal memo sent to employees this morning obtained by GeekWire. Pressure continues to mount as the company attempts to keep up in the rapidly advancing field of generative AI that has been spearheaded by OpenAI’s ChatGPT. “As we continue to invent, we’re shifting some of our efforts to better align with our business priorities, and what we know matters most to customers—which includes maximizing our resources and efforts focused on generative AI.,” wrote Daniel Rausch, vice president of Alexa and Fire TV, in the memo. Though Amazon refused to expound on the initiatives being discontinued, it has made recent cuts in other departments including music and gaming.

Beamery, November 16, 2023 announcement. Layoff of 105 people, 25% of workforce.

In an effort to reduce its total costs by 35%, the London-based hrtech startup is laying off 25% of its workforce according to Tech.eu. This is Beamery's second round of cuts this year after parting with 12% of its staff in January due to inflation and energy crises, high interest rates, and scant startup funding. “We have made some challenging decisions for the long term success of Beamery and are taking proactive steps to ensure a near term path to profitability,” said a company spokesperson when confirming the restructure.

Chewy, November 14, 2023 announcement. Layoff of 200 people.

The online pet supplies company that is dually headquartered in Florida and Massachusetts is laying off over 200 employees across multiple locations, according to TechCrunch. The cuts reportedly affected HR, recruiting, data and business intelligence, as well as some directors and higher managers, including a vice president. "This was a difficult decision that was carefully considered as part of our overall strategy and ongoing focus on becoming an ever more agile and disciplined company, said Chewy spokesperson, Diane Pelkey when confirming the restructure.

CEO Sumit Singh detailed his concerns regarding inflation and its impact on Chewy's business model. The economic change has created more cautious consumers who are now buying lower-priced items, like dry dog food, instead of wet food, as well as curbing spending on pet treats. Chewy was sold to PetSmart in 2017 for $3.35 billion, but ultimately decided to split from the acquisition in 2020.

Amazon Gaming, November 13, 2023 announcement. Layoff of 180 people.

In an effort to emphasize developing its own titles, Amazon is laying off more than 180 employees in its gaming division and is also shutting down parts of the business that focus on streaming and supporting third-party games, according to an internal company memo viewed by CNBC. In addition to these changes, the restructure will also force Amazon to close its Game Growth and Crown Channel initiatives. According to the memo, Christoph Hartmann, VP of Amazon Games, explained that the company will now be locked in on upcoming launches such as “Throne and Liberty” and “Blue Protocol,” as well as future releases such as “Tomb Raider” and “The Lord of the Rings” games. In what has been a year long restructure, Amazon has carried out the largest layoffs in its history, cutting 27,000 jobs since last fall.

BigCommerce, November 8, 2023 announcement. Layoff of 7% of workforce.

In an effort to sustain growth and improve its go-to-market approach in that environment, the e-commerce platform is laying off 7% of its workforce according to PYMNTS. In an earnings call on Wednesday, November 8, BigCommerce said it expects the headwinds affecting the industry to continue as we approach 2024. “While headcount and non-headcount reductions impact all teams across the company, sales and marketing spending will see the largest impact as a result of the go-to market improvement,” said CFO Daniel Lentz during the call.

“Something like a third of all B2B sellers have yet to adopt eCommerce, and many of those who have, have adopted it rather suboptimally, and when you just think of the potential for usability improvements for their customers, cost savings efficiency from when fully rolled out, there is a very bright future for B2B and we intend to be the leader in that,” added CEO Brent Bellm.

Nextdoor, November 7, 2023 announcement. Layoff of 25% of workforce.

As of yesterday, Nextdoor announced a cost reduction plan that will target a reduction of its current GAAP personnel expenses of up to $60M annually, including a 25% reduction in its employee base, according to a company blog post. “While our opportunity and belief in the transformative power of community remains unwavering, and our business is financially strong with a healthy balance sheet, we must follow through on our commitment to our shareholders. This means right sizing our business and aligning our team and other expenses with our near term revenue expectations. We expect that these actions will position us to reach quarterly free cash flow breakeven by the end of 2025,” CEO Sarah Friar wrote in the memo. Friar also revealed that CFO Mike Doyle is resigning from his position, while Matt Anderson, head of finance and strategy, has been appointed as the new CFO, both effective as of November 7, 2023. Doyle will remain at Nextdoor through December 1, to help ensure a smooth transition.

Zeus Living, November 7, 2023 announcement. Layoff of entire workforce.

The Airbnb-backed property management startup is shutting down operations in response to rising interest rates and the struggling real estate tech sector, according to The Information. Despite raising $150 million from tech investors in its lifetime, Zeus Living is now struggling financially, causing the company initiate the move. Zeus' business model leased furnished homes and apartments, and then sublet them to corporate workers looking for extended stays in nearly a dozen U.S. cities through its own site and other platforms like Airbnb.

Ava Labs, November 6, 2023 announcement. Layoff of 12% of workforce.

CEO Emin Gün Sirer tweeted that the crypto startup is laying off 12% of its workforce, which will impact multiple teams including marketing and communications according to Decrypt. The restructure will allow Ava Labs to “reallocate resources to double down on the growth of our firm and the Avalanche ecosystem,” Sirer wrote. Though he did not confirm the specific total of those impacted, the crypto recession doesn't appear to be ending anytime soon. Stay tuned.

Pico Interactive, November 6, 2023 announcement. Layoff of hundreds of people, total TBA.

Pico, the China-based virtual reality (VR) arm of ByteDance laid off hundreds of employees as the global demand for VR headsets weakens according to Reuters. According to reports, Pico will retain its hardware team, but much of its software team would be folded back into ByteDance's own product development team, which was decided in an internal meeting this week. Sales, video, and platform operation teams will also be impacted. CEO Zhou Hongwei believes that the VR industry is still in its infancy and Pico's “estimation for the industry and market growth was too optimistic as (real growth) did not go as fast as expected,” according to a transcript of his speech verified by two of Reuters' sources. The restructure will allow Pico to focus more on hardware and core technologies. Stay tuned.

F5, November 3, 2023 announcement. Layoff of 120 people, 2% of workforce.

The Seattle-based application security and delivery behemoth laid off 120 people, accounting for 2% of its workforce the company confirmed to GeekWire. The restructure will “align investments and resources to initiatives that accelerate our strategy to make hybrid and multi-cloud application security and delivery easier for our customers,” according to a statement from F5.

Nio, November 3, 2023 announcement. Layoff of 10% of workforce.

As Nio grapples with plans to spin off its non-core businesses to lower costs and improve efficiency, the Chinese EV maker is laying off 10% of its workforce in response to missing its sales targets according to Bloomberg. CEO William Li broke the news in a letter to employees, acknowledging that the cuts will take place this month as the company continues to post losses. Roles that are considered to be “duplicate” and “inefficient” will reportedly be eliminated, while any project investments that won’t contribute to the company’s financial performance within three years will be deferred or cut according to Li.

OpenSea, November 3, 2023 announcement. Layoff of 50% of workforce.

The popular NFT marketplace startup that once had a vice grip in the industry operating as the largest marketplace during the NFT boom across 2021 and 2022, announced that it is laying off half of its workforce according to Decrypt. During that span, OpenSea consistently raked in billions of dollars' worth of monthly trading volume for artwork, profile pictures, and other tokenized collectibles. While OpenSea wouldn't confirm an official layoff total, co-founder and CEO Devin Finzer explained the thought process behind the restructure in a series of Tweets.

“Today, we’re re-orienting the team around ‘OpenSea 2.0,’ a big upgrade to our product—including the underlying technology, reliability, speed, quality, [and] experience. We’re building a new foundation so we can innovate faster and we’ll have some experiences to share with you soon. We will change how we operate - shifting to a smaller team with a direct connection to users,” Finzer wrote. Expect a flatter organizational approach regarding future operations.

Viasat Copy, November 2, 2023 announcement. Layoff of 800 people, 10% of workforce.

In an effort to streamline business operations amid its ongoing strategy, the global communications company is laying off 800 employees accounting for 10% of its global workforce according to Bloomberg Law.

Informatica, November 1, 2023 announcement. Layoff of 545 people, 10% of workforce.

Despite reporting positive third quarter earnings, the California-based data management company is laying off 10% of its workforce accounting for 545 employees, according to Barron's. CEO Amit Walia detailed Informatica's outlook moving forward in a podcast conversation with Bloomberg. While Walia did not speak to the cuts during his interview, he did introduce a new $200 million stock repurchase plan.

Splunk, November 1, 2023 announcement. Layoff of 500 people, 7% of workforce.

As the cybersecurity firm prepares to become Cisco's biggest acquisition ever, Splunk announced that it will layoff 500 employees accounting for 7% of its global workforce according to CNBC. While the closing of the deal is still a few months out, Splunk isn't wasting time restructuring its business after already laying off 300 employees earlier this year.

“The changes we are announcing are not a result of our agreement with Cisco; they are the continuation of the important initiatives we’ve undertaken across Splunk for more than a year to align our resources and operating structure to deliver ongoing and incremental value for our customers. As we look ahead, it is important that we continue to evolve our organizational design to empower Splunkers worldwide to deliver results efficiently and more sustainably, all the while improving our ability to navigate ongoing market uncertainty,” wrote Splunk CEO Gary Steele in a memo to employees that was filed with the U.S. Securities and Exchange Commission. Most of the impacted employees are based in the United States.

Faire, November 1, 2023 announcement. Layoff of 250 people, 20% of workforce.

The wholesale marketplace laid off 20% of its staff accounting for 250 employees, which is their second round of cuts in just over a year according to TechCrunch. In October of 2022, Faire laid off 7% of its staff according to reports from The Information, which totaled about 1,200 at that time of the restructure. While Faire's long term vision inspired the layoffs, it will continue to connect emerging independent businesses globally with local retailers to enable their goods to sell to larger audiences.

October 2023 Tech Layoffs

StepStone, October 30, 2023 announcement. Layoff of 215 people, 5% of workforce.

The Germany-based job board platform announced layoffs that will impact 215 employees accounting for 5% of its workforce according to AIMGroup. The move appears to be in response to economic uncertainty as it attempts to restructure and optimize its business operations. Stay tuned.

Hippo Insurance, October 26, 2023 announcement. Layoff of 120 people, 20% of workforce.

The homeowners’ focused insurtech company announced it will layoff 120 employees accounting for 20% of its workforce according to Insurance Business Mag. The bombshell arrived days before Hippo was due to announce its third quarter financial results. As a result of the move, the company detailed hopes to drive efficiency and increase the focus on its strategic priorities in an SEC filing obtained by The Insurer.

Salsify, October 25, 2023 announcement. Layoff of 110 people.

The Boston-based e-commerce software company announced a restructure of its team that will include layoffs slated to impact 110 employees according to Biz Journals. According to CEO and Co-Founder Jason Purcell, Salsify is moving some roles abroad as the company aims to set itself up for a more agile and competitive future.

Exabeam, October 25, 2023 announcement. Layoff of 20% of its global workforce.

The California-based cybersecurity company announced it will layoff 20% of its global workforce in an effort to streamline operations amid continuing and challenging macroeconomic conditions, according to a public memo from CEO Adam Geller. “Today, Exabeam announced a business restructuring that will better align departments across the company for operational efficiency and continued innovation, as well as strengthen our financial health as we navigate global macroeconomic headwinds. We remain committed to AI-driven security operations innovation and will continue maximizing value for customers, partners, and the business,” Geller wrote in the memo.

Slync, October 25, 2023 announcement. Layoff of entire workforce.

The logistics tech startup once valued at $240 million by investors including Goldman Sachs is shutting down after being sued by its former CEO, Chris Kirchner, according to Forbes. Slync fired Kirchner in August of last year in response to fraud allegations. In a legal filing this month obtained by Forbes, the company detailed liquidation plans “because it maintains insufficient capital to continue to operate due to its financial underperformance and Kirchner’s [alleged] fraud.” The disgraced former CEO sought money from Slync to cover mounting legal fees associated with his defense against criminal charges brought by the US Department of Justice and Securities and Exchange Commission.

Charges allege that Kirchner had fraudulently sold $67 million of securities, and misappropriated more than $28 million in company funds for personal use. In another case, the Department of Justice alleged Kirchner instructed a Slync executive to move $20 million to accounts he controlled, which he later used to purchase a Gulfstream jet. Kirchner's persistent demands for assistance in paying his legal bills “put the company in a position where we couldn’t raise capital from new investors and selling the company wasn’t an option due to liability concerns from potential suitors,” said current CEO John Urban when reached for comment by Journal of Commerce, who initially broke the report. Stay tuned.

SiFive, October 24, 2023 announcement. Layoff of 130 people, 20% of workforce.

The semiconductor startup company announced it laid off 130 employees accounting for 20% of its workforce according to The Information. Despite having Google as client, the restructure has impacted all of the company's groups, including executives. Chip designs built by SiFive are based on an open chip architecture known as RISC-V, and competes against the recently public Arm Holdings. While both companies build the underlying designs chips are based on, neither produces the chips themselves. CEO Patrick Little described the cuts as significant which required SiFive to further examine its objectives. The company will continue to produce chips that are used in AI, automotive, consumer gadgets and low-power devices, as RISC-V continues to emerge as a point of contention in the U.S.-China tech war.

Pebble, October 24, 2023 announcement. Layoff of entire workforce.

While Pebble (formerly T2) was created to rival Twitter/X, the microblogging startup has announced that it is shutting down operations according to TechCrunch. Growing a much smaller but engaged platform designed to mimic X's signature features of verifications and direct messaging won't be enough to sustain its business in a highly competitive environment. Pebble's 20,000 registered users peaked at 3,000 active daily users, but its daily user figure fell to 1,000 following its rebranding from T2. “I think the competitive landscape evolved faster than we had thought,” he explains. “I didn’t think that quite as many people — established organizations and newcomers — would try to do the same thing that we were doing and in very similar ways,” said CEO Gabor Cselle regarding the announcement according to TechCrunch. Mastadon, Instagram Threads, and Post News are current alternatives to the X platform.

Parity Technologies, October 23, 2023 announcement. Layoff of 100 people, 30% of workforce.

In an effort to refocus on its core Polkadot blockchain and cryptocurrency services, Parity Technologies announced layoffs that will impact 100 employees accounting for 30% of its workforce according to Yahoo Finance. As the crypto industry grapples with widespread staffing cuts, Parity's restructure will affect its marketing and business development departments. CEO Björn Wagner confirmed the cuts through a company spokesperson via Bloomberg.

Nomad Health, October 20, 2023 announcement. Layoff of 119 people, 17% of workforce.

The healthcare staffing startup laid off 119 employees accounting for 17% of its corporate workforce according to Forbes. The uptick in demand for travel nurses and temporary healthcare workers created by the COVID pandemic has drastically declined. “Nomad’s leaders, starting with me, were too optimistic about the trajectory of our market. This means, unfortunately, that we built our team for an economic reality that no longer exists,” CEO Alexi Nazem wrote in a memo to employees obtained by Forbes.

Convoy, October 19, 2023 announcement. Layoff of 500 people, 100% of workforce.

The Seattle-based digital freight network announced it will be shutting down its core business and laying off the majority of its workforce, according to GeekWire. An oversaturated market paired with a declining demand helped usher in the drastic change at Convoy. The company specialized in matching truckers with shippers in an Uber-like environment, and had notable investors such as Jeff Bezos and Bill Gates. “In short, we are in the middle of a massive freight recession and a contraction in the capital markets. This combination ultimately crushed our progress at the same time that it was crushing our logical strategic acquirer – it was the perfect storm,” said CEO Dan Lewis in his memo to employees.

Google News, October 18, 2023 announcement. Layoff of 40 people.

Google's news division initiated layoffs this week affecting 40-45 employees, amidst thousands of other internal cuts this year according CNBC. Though a spokesperson for Google confirmed hundreds of active news employees, the changes were still critical in an effort to streamline the organization. “We’re deeply committed to a vibrant information ecosystem, and news is a part of that long-term investment,” the spokesperson said to CNBC.

Stack Overflow, October 16, 2023 announcement. Layoff of 28% of workforce.

The question-and-answer forum for programmers is laying off 28% of its workforce in response to ChatGPT's emergence and upsetting of the industry, according to WKBW Buffalo. CEO Prashanth Chandrasekar shared a public blog post announcing the cuts, detailing Stack Overflow's overall plan to reach profitability. “As we finish this fiscal year and move into the next, we are focused on investing in our product. As such, we are significantly reducing the size of our go-to-market organization while we do so. Supporting teams and other teams across the organization are impacted as well,” Chandrasekar wrote in the post.

LinkedIn, October 16, 2023 announcement. Layoff of 660 people, 3% of global workforce.

LinkedIn announced layoff plans that will affect 660 employees accounting for 3% of its global workforce according to Axios. The restructure will directly impact engineering, product, talent and finance teams. LinkedIn's first round of layoffs this year arrived in May accounting for 716 employees. While revenue and user reporting has signaled consistent growth over the last two years, Monday's announcement alludes to a greater focus on AI. “While we are adapting our organizational structures and streamlining our decision making, we are continuing to invest in strategic priorities for our future and to ensure we continue to deliver value for our members and customers,” the company said in a statement obtained by Axios.

Adda247, October 14, 2023 announcement. Layoff of 300 people.

The edtech start up has laid off around 300 employees across multiple verticals according to Entrackr. During October of last year, Adda247 scored significant backings from multiple entities totaling $35 million led by WestBridge Capital, while Google teamed up with existing investors Info Edge, Asha Edu Tech and JM Financial. Adda247 also happens to be one of the few Indian startups where Google is a direct investor. “The downsizing was done to extend the runway as funding tap has dried up for the edtech companies and the investment environment is unlikely to improve for the sector,” said a source who requested anonymity according to Entrackr.

Qualcomm, October 12, 2023 announcement. Layoff of 1,258 people, 2.5% of workforce.

The semiconductor manufacturer announced layoffs impacting 1,258 employees accounting for 2.5% of its workforce according to CNBC. The cuts are expected to take place around December 13, and will primarily affect two California-based offices, 1,064 of its San Diego employees and 194 of its Santa Clara employees. Neither location will be subject to closure at this time.

Lending Club, October 12, 2023 announcement. Layoff of 172 people, 14% of workforce.

The San Francisco-based financial services company announced it will layoff 172 employees accounting for 14% of its workforce according to Bloomberg. The move was initiated in an effort to cut costs amidst an expected decline in third quarter profit by Lending Club. Bloomberg reports detailed an expected profit of profit of $4 million to $5 million, a stark contrast from $43.2 million a year earlier. “We continue to proactively implement various measures to navigate the persistent and ongoing macroeconomic headwinds and the resulting pressure in our marketplace, primarily driven by higher interest rates,” CEO Scott Sanborn said in a memo to employees.

Flexport, October 6, 2023 announcement. Layoff of 30% of workforce.

The global logistics company will layoff 30% of its workforce in an effort to restructure company finances amidst a drastic decline in revenue according to The Wall Street Journal. For Flexport founder Ryan Petersen, this is the first step of many more in an attempt to return to profitability. “Ryan has been very transparent in the need to drive the growth and cost discipline required to return Flexport to profitability. We will do so in a way that doesn’t impact customer service and our ability to help grow our customers’ businesses,” a Flexport spokesperson said to The Wall Street Journal. 

Juniper Networks, October 6, 2023 announcement. Layoff of 440 people.

The Bay Area-based cloud service company detailed layoff plans that will affect 440 employees in an SEC Filing today according to Forbes. The move arrives as the first step in a restructure plan to enable long term growth.

Enovix, October 5, 2023 announcement. Layoff of 185 people.

The advanced silicon batter developer announced it will lay off 185 employees, including over 125 contractors at its factory based in Fremont, California, according to a memo shared on the company's website. The bulk of Enovix's operations are being moved to Asia in hopes to be closer to the smartphone manufacturers that could potentially but its cells. The Fremont facility will transition away from its current manufacturing focus and instead create new products as a center for innovation. The restructure alludes to the growing reality within the lithium-ion battery industry that proximity to materials, labor, and customers is crucial for success according to The Information.

Qualtrics, October 4, 2023 announcement. Layoff of 780 people, 14% of workforce.

In an effort to reduce costs and restructure operations, Qualtrics announced it will layoff 780 employees accounting for 14% of its workforce according to GeekWire. The need to address the internal complexity created by its past hiring and growth spurred the move, though its office in downtown Seattle will remain in operation despite the cuts. “Rapid hiring was essential to enable our growth up to this point, but it also created complexity that does not support continued growth at our scale. Simply put, the organizational structures, work processes and the way we made decisions previously don’t work for the company we’ve become, or the company we aspire to be,” said CEO Zig Serafin in his memo to employees obtained by GeekWire. Several hundred roles are changing or moving locations over the next year in addition to the layoffs according to Serafin.

Hopper, October 4, 2023 announcement. Layoff of 250 people, 30% of workforce.

The online travel and fintech company announced layoffs affecting 250 employees, accounting for 30% of its workforce according to Skift. The move arrives as Hopper pursues profitability and the twin goals to boost the company’s travel app and B2B businesses, along with continuing to build its direct global hotel supply. “We needed to make organizational changes to properly support these two critical business objectives,” a Hopper spokesperson said to Skift.

Bird, October 4, 2023 announcement. Layoff total TBA.

After the shared micromobility company was delisted from the NYSE last week, CEO Michael Washinushi shared a memo with employees on Wednesday that detailed another upcoming round of layoffs according to TechCrunch. While the total number of those impacted remains unclear, the move appears to be in response to Bird's acquisition of its competitor Spin, which is another shared e-scooter company based in America. “With any acquisition and integration process, there are redundancies in roles and scope that the business isn’t able to maintain while meeting its goals,” Washinushi said in his letter to employees. Time will tell if the business move and acquisition can help Bird reach profitability for the first time since going public in November 2021.

Meta, October 4, 2023 announcement. Layoff of total TBA.

Meta's workforce is going through a restructure again, as layoffs were announced in its metaverse-oriented Reality Labs division on Wednesday according to Reuters. The Reality Labs team focuses on creating custom silicon, though Reuters was unable determine the extent of the cuts to the unit, called Facebook Agile Silicon Team, or FAST. The team of roughly 600 employees developed custom chips to equip Meta's devices to perform unique tasks and operate more efficiently, differentiating them from others entering the nascent AR/VR market. Unfortunately, Meta has struggled to produce chips that can compete with silicon produced by external providers and has turned to chipmaker Qualcomm to produce chips for its devices currently on the market.

Depending on the extent of the cuts, CEO Mark Zuckerberg's ‘Metaverse’ project built around augmented and virtual reality products enabling the virtual world could take a serious hit. Furthermore, Meta has slashed nearly 21,000 jobs since November of last year. The moves have been in response to dwindling revenue growth, high inflation, and concerns that Reality Labs was losing too much money, as it has sought to reassure investors that it was reining in costs. Stay tuned.

Twitch, October 3, 2023 announcement. Layoff total unconfirmed.

Twitch has initiated its second round of layoffs this year, though the move is reportedly much smaller than the 400 cuts back in March according to Games Industry. The customer experience department will be impacted most, as the company shifts to rely more on outsourcing vendors to fulfill those roles. Stay tuned for more information when it becomes available.

Chainalysis, October 2, 2023 announcement. Layoff of 150 people, 15% of workforce.

The blockchain data platform has initiated its second round of layoffs this year as it cuts 150 employees, accounting for 15% of its workforce according to Forbes. Chainalysis' marketing and business development teams focused on the private sector will be impacted again, as their jobs have continue to rise in difficulty in an environment where the price of bitcoin is down 60% from its all time high of $69,000 in November 2021. In his memo to employees on Monday, CEO Michael Gronager detailed Chainalysis' plans to expand its retreat from the commercial market, while concentrating on more stable government contracting. As blockchain activity continues to slow down, “We are going to focus on profitability and maturity and to ensure that we are agile in light of evolving market forces,” said Madeleine Kennedy, vice president of communications.

September 2023 Tech Layoffs

Epic Games, September 28, 2023 announcement. Layoff of 870 people, 16% of workforce.

The creators of the wildly popular Fortnite video game franchise announced it will layoff 870 employees accounting for 16% of its workforce according to Bloomberg. “For a while now, we’ve been spending way more money than we earn,” CEO+- Tim Sweeney wrote in a memo to employees obtained by Bloomberg. Despite Sweeney's long-term optimism that layoffs would not be included in the transition, hindsight rendered the idea unrealistic. In his email, Sweeney assured the retained employees that there are no more layoffs being planned at this time. However, he did note that an additional 250 employees will leave Epic through two divestitures: the sale of music site Bandcamp, and a spinoff of marketing company SuperAwesome. Nearly two-thirds of Epic's cuts impacted teams outside of the core development department.

Cisco, September 17, 2023 announcement. Layoff of 350 people.

Beginning next month, the digital communications technology giant will be laying off 350 employees in Silicon Valley in its latest restructure announcement according to Market Watch. Those impacted will be 227 people in San Jose, and another 123 in nearby Milpitas, Calif., effective Oct. 16. Stay tuned.

Sage Therapeutics, September 15, 2023 announcement. Layoff of 290 people, 40% of workforce.

The biotech company's commitment to developing novel therapies for brain disorders has taken a hit as Sage Therapeutics announced a 40% reduction of its workforce following the U.S. Food and Drug Administration’s (FDA) rejection of its drug Zurzuvae, according to Biz Journals. The drug is designed to target adults with major depressive disorder (MDD) and ease symptoms they face daily. Sage’s leadership is also changing with the departure of the current Chief Scientific Officer (CSO) Al Robichaud and the Chief Development Officer (CDO) Jim Doherty according to Pharmaceutical Technology. Stay tuned.

Airtable, September 14, 2023 announcement. Layoff of 237 people, 27% of workforce.

The code-free software company announced that it will layoff 237 employees accounting for 27% of its workforce according to Forbes. After letting 254 people go in December of 2022, CEO and Founder Howie Liu said this round of cuts will be part of a larger restructure plan to focus the company on winning large enterprise clients and curb spending. “I let myself get caught in the hyper-competitive environment at that time. We had the capital and said, let's hyper-scale; let's recruit as many smart people as we can and just throw them into the business and see what they can do,” says Liu regarding the layoffs.

On a positive note, Airtable will be cash flow positive after this round of layoffs. The impact of the latest restructure will be felt company-wide, but the largest cuts will affect product and sales teams that focused on selling and servicing smaller clients. The realignment will allow Airtable to pursue bigger deals and use cases moving forward.

Google, September 13, 2023 announcement. Layoff of at least 200 people.

Google is reportedly laying off employees that could ultimately account for hundreds of positions across its global recruiting team as hires continue to decline according to Semafor. Those impacted began posting the news on social media earlier today, while the company declined to detail the percentage of the impacted recruiters. However, Google did note that the volume of requests for its recruiters has drastically decreased.

“In order to continue our important work to ensure we operate efficiently, we’ve made the hard decision to reduce the size of our recruiting team. We’re supporting everyone impacted with a transition period, outplacement services, and severance as they look for new opportunities here at Google and beyond,” Google spokesperson Courtenay Mencini said in a statement obtained by Semafor.

Binance, September 12, 2023 announcement. Layoff of 100 people, 33% of workforce.

Binance already let 1,000 employees go in July and will follow up by laying off 100 more, accounting for 33% of its workforce according to Bloomberg. The report also revealed that Binance U.S. President and CEO Brian Shroder has resigned from his position at the company, amid several other executive shake ups. Binance US Chief Legal Officer Norman Reed will step into the vacated role, while CEO Changpeng ‘CZ’ Zhao insists that business is fine despite negative coverage surrounding the company. Binance also happens to be locked in litigation with the SEC after being sued for blatant disregard for the federal securities laws according to reporting from The Wall Street Journal. It feels like more to this saga is on the way, so stay tuned. Zhao believes that the company is stronger than its ever been despite the chaos. Even with the latest executive exit and legal woes with the SEC, Binance remains the world's largest cryptocurrency exchange by volume according to Decrypt.

Roku, September 6, 2023 announcement. Layoff of 360 people, 10% of workforce.

In an effort to lower its year-over-year operating expense growth rate, Roku announced its third round of layoffs since November of last year that will impact 360 employees or 10% of its workforce, according to CNBC. The company will also consolidate office space, slow the pace of new hires, and reduce outside services expenses, though Roku raised its guidance for its third-quarter revenue and EBITDA. Stay tuned as Roku attempts to pivot toward profitability and ultimately attracting new investors.

August 2023 Tech Layoffs

Zebra Technologies, August 28, announcement. Layoff of 700 people, 7% of workforce.

The mobile computing company announced today that it will be laying off 700 employees accounting for 7% of its workforce according to Chicago Business. While more information on the news is pending, Zebra's SEC filing reportedly revealed the restructure earlier this month. Buyouts could also be in play for those impacted. Stay tuned for more details in the coming weeks.

Getir, August 22, 2023 announcement. Layoff of 2,500 people, 11% of workforce.

The Turkish grocery delivery company announced global layoffs that will impact 2,500 employees across five countries, accounting for 11% of its workforce according to Reuters. After closing operations in Italy, Spain, and Portugal last month, Getir says it will maintain business as usual in Turkey, the UK, Germany, the Netherlands and the United States. The online delivery industry surged in growth and popularity during the height of the COVID-19 pandemic, but we're seeing balance continue to return to the retail industry as time goes on.

Twiga, August 20, 2023 announcement. Layoff of 283 people, 33% of workforce.

The Africa-based e-commerce food distribution company laid off 283 employees accounting for 33% of its workforce according to TechCabal. The restructure is in response to tough market conditions that appear to be ongoing for many tech companies. Twiga is “on a transformative path in the last few months to become a lean, agile, cost-efficient organisation, undertaking several interventions to adopt and sustain the business during these economic times,” CEO Peter Njonjo said in a statement to TechCabal. The cuts arrive after a redesigned commercial sales model announced by Twiga in June.

SecureWorks, August 14, 2023 announcement. Layoff of 300 people, 15% of workforce.

Having already initiated a 9% workforce reduction in February, SecureWorks announced a new round of layoffs yesterday that will impact 300 employees accounting for 15% of its workforce according to TechCrunch. CEO Wendy Thomas detailed a need to simplify and scale SecureWorks' business to deliver profitable growth in the future in a memo to employees. “Under the Plan, the Company intends to rebalance investments cross-functionally in alignment with the Company’s current strategy and growth opportunities, such as focusing on the higher value, higher margin Taegis solutions, optimizing the Company’s organizational structure to increase its scalability, and other priorities, to better position the Company for continued growth with improving operating margins over time,” according to an SEC filing by SecureWorks.

Shutterfly, August 10, 2023 announcement. Layoff of 246 people.

In an effort to amplify business operations, Shutterfly announced it will close its Minnesota-based manufacturing plant, signaling layoffs accounting for 246 employees according to CBS News. The production work in Shakopee will be spread out to its larger hubs when it is officially closed in June of 2024, while cuts are slated to begin in phases starting this October.

Rapid7, August 8, 2023 announcement. Layoff of 470 people, 18% of workforce.

On Tuesday, the Boston-based cybersecurity firm announced layoffs of 470 employees accounting for 18% of its workforce according to The Boston Globe. Rapid7's SEC filing indicated that the restructure is “designed to improve operational efficiencies, reduce operating costs and better align the company’s workforce with current business needs.” As a requirement of the savings plan, Rapid7 will pay $24M to $32M in severance and other costs, as well as closing an unspecified amount of offices. “It will increase our capacity to invest where customers need it, and give us the flexibility to scale intentionally, foster innovation, and improve processes,” said CEO Corey Thomas in his memo to employees.

Dell, August 7, 2023 announcement. Layoff total unconfirmed.

Dell has confirmed a new round of layoffs this week that will impact its core sales teams, while it would not confirm whether these layoffs were in addition to the 6,650 job cuts detailed in February, according to CRN. The tech giant is shifting strategies to implement a newpartner-led go-to market modelthat pays its direct sales force more to sell storage products through the channel. “With this new strategy around partner-first, every one of our reps is going to look at their comp plan and see, I make X if I sell it directly. I make X-plus if I sell it through a partner,” said Dell President of Sales and Customer Operations, Bill Scannell in a statement to CRN. By coordinating sales teams with partners Dell can multiply the efforts of both. Stay tuned.

Spinny, August 2, 2023 announcement. Layoff of 300 people, 5% of workforce.

The used car retailing platform backed by Tiger Global laid off 300 employees accounting for 5% of its workforce, as it attempts to cut costs by merging its Truebil and Spinny Max divisions according to Money Control. As the demand for used cars continues to dwindle, Co-founder and CEO Niraj Singh announced the restructure plans on August 2. “This business reorganization will strengthen our go-to-market business model, reduce costs and improve our margin profile, putting us on an expedited path to profitability. However, it will impact approximately 4.5 percent of our total workforce as we consolidate our operations under a single brand,” a Spinny spokesperson confirmed in a statement to Money Control.

Tekion, August 2, 2023 announcement. Layoff of 300 people, 10% of workforce.

The California-based SaaS automation startup laid off 300 employees accounting for 10% of its workforce earlier this week in an effort to cut costs, according to Inc42. With a majority of its team based in India, at least 200 of the impacted employees are from Tekion's offices located in Bengaluru and Chennai. The restructure primarily affects tech, sales, marketing, talent acquisition, and human resources teams. Former Tesla CIO Jay Vijayan founded Tekion in 2016. The company is a cloud-native SaaS platform that utilizes machine learning and A.I. to connect original equipment manufacturers (OEMs), retailers/dealers and consumers on a single platform.

July 2023 Tech Layoffs

Kape Technologies, July 30, 2023 announcement. Layoff of 200 people, 30% of workforce.

The cybersecurity firm behind many popular VPN services such as ExpressVPN, CyberGhost, and Private Access Internet (PIA) will layoff 200 employees accounting for 30% of its workfoce, according to TechReport. The restructure will impact multiple departments including the three major teams mentioned above, as well as many high-ranking executives. Former CTO Dan Gericke decided to walk out entirely, though Kape Technologies has yet to officially announce the cuts. However, that hasn't stopped employees from talking about the moves on LinkedIn according to TechReport. “I decided to exit along with my many amazing colleagues that were terminated and am officially announcing my departure as CTO of ExpressVPN and the Kape Privacy Division,” Gericke said in a LinkedIn post. Stay tuned.

Milkbasket, July 27, 2023 announcement. Layoff of 400 people, 67% of workforce.

After losing its top three executives, the subscription commerce firm is laying off 400 employees accounting for 67% of its workforce, according to Entrackr. The move will reportedly eliminate the offline marketing, sales, and head office teams, while Reliance is expected to launch a new “Jio Smart Daily” platform, and phase out the Milkbasket brand altogether. Jio Smart will absorb Milkbasket's remaining team members. However, former co-founder Yatish Talvadia, Chief Operating Officer Abhinav Imandi, and Chief Financial Officer Gaurav Srivastava left Milkbasket after the integration.

Copia, July 26, 2023 announcement. Layoff of 350 people, 25% of workforce.

The Kenyan e-commerce platform that serves low-income households is laying off 350 employees accounting for 25% of its workforce, according to TechCabal. The move raises Copia's reduction total to 700 in 2023 alone. “Given that the economic downturn and the constrained capital markets are likely to continue for some time, Copia is optimizing a number of key processes in its operations in Kenya to provide a better service to its customers and to drive sustained operating profitability,” the company said in a statement to TechCabal.

Viaplay, July 20, 2023 announcement. Layoff of 450 people, 25% of workforce.

The Nordic video streaming service is laying off 25% of its staff and pulling streaming out of the U.S. and UK as it evaluates a potential sale according to Deadline. Viaplay's new strategy arrived with a new CEO, Jorgen Madsen Lindemann, who is taking over for Anders Jensen as of last month. According to reporting from Deadline, a handful of senior executives will be laid off including EVP and Chief Commercial Officer, Nordics Fillipa Wallestam, Head Of International Scripted, Thomas Axelsson, and Executive Producer Isabelle Hultén. While it will continue to focus on Nordic originals, Viaplay will end its low tier non-sports offering in the U.S. and UK. This move allows the company to focus on the Nordic and Dutch markets, paired with the sale of content internationally via Viaplay Select. “We are today announcing a new strategy and plan, which includes, but is not limited to, focusing on our core Nordic, Netherlands and Viaplay Select operations; implementing a new operational model; downsizing, partnering or exiting our other international markets; rightsizing and pricing our product offering in the Nordics and undertaking a major cost reduction program,” Lindemann said regarding the layoff announcement.

Microsoft, July 18, 2023 announcement. Layoff of 1,000 people.

Over the past week, Microsoft has laid off more than 1,000 employees that mostly impact customer service and sales teams, according to Business Insider. As part of the restructure, its “Digital Sales and Success” team will be shut down, along with cuts affecting engineering project managers and marketing teams. The company also decided to eliminate the customer solutions manager role, moving very few employees to another role called customer success account management. The surprise here is that these layoffs surpass the 10,000 layoffs that Microsoft planned earlier this year. “What was promoted as one of the largest customer service groups in the industry is now struggling to keep up with demand,” said a person familiar with the changes according to Insider. Just last week, GeekWire reported that Microsoft laid off 276 employees impacting customer service, support, and sales teams. It feels like there's going to be even more to this story as we head towards 2024. Stay tuned.

Binance, July 14, 2023 announcement. Layoff of 1,000 people.

The giant crypto exchange laid off 1,000 employees globally, as it deals with a federal investigation in the U.S. according to The Wall Street Journal. U.S. regulators have attempted to reign in and control the exchange industry, with the SEC suing Binance and its founder,Changpeng Zhao, last month. The suit alleges that Binance illegally operated in the U.S. and misused customer funds, though Binance has denied the allegations. The exchange has also experienced setbacks in obtaining licenses to operate its business in Europe. An ongoing investigation by the Department of Justice looms as Binance's biggest concern, while many of its executives believe charges against the firm and Zhao will arrive sooner than later. According to The Wall Street Journal, Zhao's refusal to relinquish control could put Binance's future and survival in jeopardy.

Stitch Fix, July 12, 2023 announcement. Layoff of 400 people.

The online personal shopping company announced the closing of its Pennsylvania warehouse along with laying off 400 employees beginning in September, as it faces revenue declines according to The Philadelphia Inquirer. Founder and interim CEO Katrina Lake confirmed that Stitch Fix will close its Dallas warehouse, as well as reducing to three fulfillment centers in Atlanta, Indianapolis, and Phoenix. The company is also considering a departure from the U.K. market. Stay tuned.

Latch, July 10, 2023 announcement. Layoff of 59% of its workforce.

After acquiring Honest Day's Work (HDW) earlier this month, Latch plans to leverage HDW's global workforce, reduce operational spend, and create a stronger foundation for growth through reducing its current U.S.- and Taiwan-based workforce by 59% before November 1, 2023 according to Business Wire. The influx of HDW's talent philosophy and global team while decreasing headcount, should allow Latch to implement additional cost cutting moves on SaaS software licenses and other systems. The company is unveiling a new leadership team alongside Jamie Siminoff, who is expected to take over as CEO, as Latch leverages a more efficient, remote global workforce to be based in St. Louis, MO.

“These new measures are focused on creating the best foundation for growing the business long term. Discipline and efficiency are not only expected to save Latch millions of dollars but should also accelerate and simplify processes, both internally and externally. It is our responsibility to our customers to provide the best products and services at the lowest cost. Doing that should result in increased sales and profits, creating value for our stockholders,” Siminoff said in his memo to employees.

Microsoft, July 10, 2023 announcement. Layoff of 276 people.

Just one week after the start of its fiscal year, Microsoft has initiated a second round of layoffs this year accounting for 276 employees on Monday, after slashing 10,000 positions back in January according to CNBC. Clients have been looking for ways to money on their cloud computing bills as economic uncertainty continues to arise. While a Microsoft spokesperson declined to specify the total number of layoffs in its latest move, the company filed a notice on Monday detailing a reduction of 276 employees in its home state of Washington according to CNBC.

Evernote, July 7, 2023 announcement. Layoff of 98 people, all of U.S. workforce.

After being acquired last November by Italian app-maker Bending Spoons, Evernote has continued to go through changes as it announced layoffs of nearly all employees located in the U.S. and Chile according to SFGATE. Bending Spoon's CEO Luca Ferrari said, “most of Evernote's operations will be transitioned to Europe,” in a statement to SFGATE. Ferrari shared his belief that a “significant boost in operational efficiency that will come as a consequence of centralizing operations in Europe.” The latest move arrives after Evernote laid off 129 employees in February according to TechCrunch. “Our plans for Evernote are ambitious as ever: Going forward, a growing, dedicated team based in Europe will continue to assume ownership of the Evernote product,” Ferrari noted.

Amdocs, July 6, 2023 announcement. Layoff of 2,000 people, 6% of workforce.

After laying off 3% of its workforce in February, Amdocs has initiated a second round of layoffs that will impact 2,000 employees or 6.5% of its workforce according to CTech. The reduction rate will be slightly lower in Israel, with Amdocs dismissing 200 employees or 5% of the 5,000 employed in the country. “Amdocs, like other leading global companies, continually assesses the global macroeconomic conditions and takes appropriate measures to ensure sustained growth. As part of this, we periodically initiate efficiency processes while maintaining investments in areas of growth, in line with our strategic plan,” the company wrote in a statement obtained by CTech.

FNZ, July 6, 2023 announcement. Layoff of 1,000 people, 15% of workforce.

The UK-based platform software giant and provider for Abrdn, Quilter, and Aviva is laying off 1,000 employees, accounting for 15% of its workforce, according to Citywire. FNZ attributes the restructure to being a result of finishing projects and ‘realizing synergies’ following acquisitions, but it will redeploy employees to other growth areas and absorb staff from the companies it has partnerships with. This move follows FNZ's most recent restructure in December of 2022.

June 2023 Tech Layoffs

IRL, June 23, 2023 announcement. Layoff of entire workforce.

IRL, Gen Z's do-it-all social app created to rival Facebook as an event organizing alternative is shutting down according to TechCrunch. After raising over $200M in venture capital, the company is pumping the brakes on future planning. In real life, an internal investigation by IRL’s board of directors found that 95% of the app’s reported 20 million users were “automated or from bots,” The Information first reported. Oh, the irony!

Grab, June 20, 2023 announcement. Layoff of 1,000 people, 11% of workforce.

Southeast Asia's leading ride-hailing and food delivery app announced it lay off 1,000 employees, accounting for 11% of its workforce according to Reuters. CEO Anthony Tan cited the need to manage costs and ensure more affordable services long-term, as the cuts are the largest move by Grab since the start of the pandemic. According to Tan's memo to employees, these layoffs aren't a shortcut to profitability, but instead, a strategic restructure to adapt to fast-changing market conditions.

OLX Group, June 20, 2023 announcement. Layoff of 800 people.

The online marketplace and classifieds business arm of Prosus has decided to layoff 800 employees globally according to TechCrunch. The surprising part of today's announcement is that these cuts arrive just months after OLX confirmed plans to decrease its global workforce by 15% (1,500 jobs) in January. Based in Amsterdam, OLX operates in over 30 countries globally, and confirmed that today's layoffs are not limited to a particular market or division according to TechCrunch. The company has also began closing operations of its automotive business unit, OLX Autos, in some markets after unsuccessfully sourcing potential buyers and investors. OLX did not confirm whether the move impacted any C-level officers.

Bitwise, June 14, 2023 announcement. Layoff of 900 people, 100% of workforce.

Despite reassurance from Bitwise's now-fired CEOs noting companywide furloughs announced on Memorial Day were to be temporary, the company announced it will layoff all of its employees according to Bakersfield. Unforeseeable circumstances and other reasons were the catalyst for the restructure according to Bitwise's internal memo. The company raised more than $150 million in outside capital since its founding in 2013. What will become of Bakersfield’s Stria LLC, a 140-employee business processes outsourcing company Bitwise acquired in August, is currently in limbo. With a promise from Bitwise to pay out compensation over a two-year period, what lies ahead for the subsidiary? Stay Tuned.

GrubHub, June 12, 2023 announcement. Layoff of 400 people, 15% of workforce.

In an email to staff, the food delivery platform laid off 400 employees, accounting for 15% of its workforce to maintain competitiveness according to CNBC. GrubHub has struggled to gain market share from rivals such as DoorDash or UberEats according to research from Bloomberg Second Measure. “There is no doubt whatsoever that we have a solid foundation in place and an immense opportunity ahead of us — but it is also clear that we need to make some tough decisions in order to maintain our competitiveness, deliver the best possible service for diners and our other partners, and be successful for the long-term,” CEO Howard Migdal wrote in the memo.

Byju's, June 7, 2023 announcement. Layoff of 1,000 people.

The multi-national edtech company is initiating its second round of cuts so far this year, after announcing layoffs that will impact 1,000 employees according to The Economic Times. The report also noted that many of those affected are contractual staff of on-ground sales teams, from third party staffers like Channelplay and Randstad. Byju's determines employment statuses based on demand and seasonality. This arrives after laying off 1,500 employees back in February, as the most recent move will also aim to further streamline operations.

Nubank, June 7, 2023 announcement. Layoff of 296 people.

Latin America's largest digital bank announced a restructure of its Brazilian operations sector by laying off 296 employees according to The Brazilian Report. Nubank's operations team was divided into independent units focusing on individual products, but will have the ultimate goal of making the digital bank a multi-product platform. “Now with a robust portfolio, and after a deep analysis of models and processes, the need to consolidate the product teams in a centralized organization was identified. With the new model, some functions and positions became redundant.” However, Nubank says it will continue to hire in other areas despite the cuts.

Haven Technologies, June 1, 2023 announcement. Layoff of 280 people, 70% of workforce.

The MassMutual-owned insurance SaaS provider is laying off 280 employees accounting for 70% of its workforce, while Haven's Life insurance business won't be impacted according to Coverager. After a 2021 U.S. introduction, Haven’s software solutions and services allowed insurance carriers to underwrite, service, and administer policies. “Like many organizations in the technology industry, we recently undertook a reorganization effort to ensure Haven Technologies is best positioned to create the flexible and customer-centric technologies that will enable our clients to help expand access to insurance,” a MassMutual spokesperson said in an emailed statement to Coverager.

May 2023 Tech Layoffs

Zendesk, May 31, 2023 announcement. Layoff of 320 people, 8% of workforce.

CEO Tom Eggemeier sent a public email to employees announcing the 8% workforce reduction, which detailed that Zendesk's hiring practices outpaced its business realities from 2020-2022. Macroeconomic conditions have not improved as Zendesk finds itself in an increasingly competitive marketplace. “At the same time, our customers are navigating massive shifts in how they do business, including increased pressure to deliver profitable growth and leveraging fast-advancing technology like generative AI,” Eggemeier wrote in the memo. To best serve its customers, Zendesk will sharpen its focus and wherever possible, direct talent and resources to high priority areas. This includes maturing how the company goes to market and building new products and capabilities that deliver greater value.

ZipRecruiter, May 31, 2023 announcement. Layoff of 270 people, 20% of workforce.

The job posting site announced it will layoff 20% of its workforce, while CEO Ian Siegel will take a 30% salary reduction as the company moves to combat a major slowdown in hiring according to Bloomberg. In an SEC filing on Wednesday, ZipRecruiter said the cuts will be mostly complete by the end of June in response to current market conditions. About half of the layoffs will impact sales and customer support teams. “In response to continuing macroeconomic challenges, we recognize the need to right size our workforce so that we can more efficiently drive our business forward — a decision we do not take lightly,” a spokesperson said in an emailed statement to Bloomberg.

Alibaba Cloud, May 24, 2023 announcement. Layoff of 7% of its workforce.

In an effort to ramp up for an initial public offering, Alibaba announced a 7% workforce layoff today in its cloud computing division according to CNBC. Back in March, the company announced plans to split the company into six business units each with their own chief executive and board of directors. On May 18, Alibaba announced plans to spin-off its cloud computing unit and intends for the division to become an independent publicly listed company within the next 12 months according to CNBC. CEO Daniel Zhang said cuts were “partially due to our proactive move to adjust our revenue structure and focus on high-quality growth, and also a result of external changes in market environment and customer composition.”

Brainly, May 24, 2023 announcement. Layoff of 30% of its workforce.

CEO Michal Borkowski shared a public letter to LinkedIn detailing the layoff of 30% of Brainly's workforce. The company has arrived at a crossroads and needs to take action to optimize its investment, because it won't reach profitability this year without any cost cutting moves. In addition, Brainly is also dealing with an unforgiving economy as many other tech companies make layoff announcements almost daily. “This is ultimately what I am accountable for, so as part of the cost cutting effort, I will be taking a 95% salary cut till the end of this year, while still keeping my full focus on Brainly,” Borkowski wrote in the memo.

Reliance JioMart, May 23, 2023 announcement. Layoff of over 1,000 people.

Reliance Industries' online wholesale sector will layoff 1,000 employees as it aligns its operations with its newest acquisitions, Metro Cash and Carry, according to the Indian Economic Times. The company also asked 500 executives at its corporate office to resign this week, and plans to slash up to 9,900 more roles over the next several weeks according to TechCrunch. After reeling from an aggressive pricing strategy, JioMart is now focusing on improving margins and reducing losses. The company is also planning to close over half of its 150-plus fulfillment centers that supply neighborhood stores.

SoundCloud, May 23, 2023 announcement. Layoff of 8% of its workforce.

In an all-hands meeting, CEO Eliah Seton notified staff members of an 8% reduction of its workforce according to Billboard. The restructure was initiated in hopes to help the company turn a profit, which would be the first time SoundCloud has reached profitability in its history. Employees based in the U.S. will be impacted the most. The audio streaming service will continue to look for more investors according to Seton. “This is a challenging but essential decision to ensure the health of our business and get SoundCloud to profitability this year,” Seton added. The latest reduction comes less than a year after the company conducted a previous round of layoffs that affected up to 20% of staff in August 2022 according to Billboard.

dbt Labs, May 18, 2023 announcement. Layoff of 15% of its workforce.

CEO Tristan Handy announced a 15% reduction of the company's workforce in a public memo to employees earlier today. “While we’ve seen continued growth, it hasn’t been at the pace we planned. This brings us to a moment that calls for hard decisions. The right call is to reset our expectations for this year,” Handy wrote in the message. The cuts are slated to impact every function of the business, as the company attempts to reset after its COVID hiring spree. “Coming out of Q1 2023, the software market is looking at a longer recovery and we need to continue to adapt,” Handy added.

TuSimple, May 18, 2023 announcement. Layoff of 330 employees, 30% of workforce.

The autonomous trucking company announced it will layoff 30% of its global workforce in an effort to save money and stay in business according to TechCrunch. This is TuSimple's second restructure move within the last five months, as it downsizes from 550 employees to around 220 moving forward. “We believe this is the right number of employees to work toward achieving our goals while preserving the cash on our balance sheet as well as retain strong publicly listed company capabilities,” the company said in an emailed statement.

Cerner, May 16, 2023 announcement. Layoff of 3,000 people, 11% of workforce.

The health IT giant became Oracle's largest acquisition ever when the deal closed in June 2022, but there have been more than 3,000 layoffs as the most recent round took place this month, according to Business Insider. Two former employees told Insider that the company hadn't issued raises or granted promotions, and told employees not to expect any this year. While Oracle declined to comment on Insider's report, it appears that accounting, engineering, legal, marketing, and product teams will be impacted most. According to the report, morale within the Cerner workforce is terrible between cuts, wage freezes, and sales of its buildings by Oracle. The buildings happen to be in Kansas City, MO, where Cerner has historically been a major employer.

There were some interesting moves after the acquisition by Oracle founder, CTO, and chairman Larry Ellison. Dr. David Feinberg was chosen as CEO but left his post in September, while Ellison chose Don Johnson to lead engineering for a combined unit called Oracle Health and AI. Back in January, Johnson abruptly left his post. Data and AI was moved back under Oracle's cloud business after his departure. Insider's report notes the new leader of the unit as Oracle Health General Manager Travis Dalton. Stay tuned.

Zepz, May 16, 2023 announcement. Layoff of 420 people, 26% of workforce.

The London-based money transfer company said it will layoff 420 employees in an exclusive announcement to CNBC. The cuts will impact customer care and engineering teams as Zepz looks to shift those operations from multiple countries to more centralized hubs. Following its combination of Sendwave with WorldRemit under one parent company, Zepz said it was implementing workforce optimization to account for roles that had been duplicated because of the merger. Collectively, both money transfer services are used by more than 11 million users across 150 countries, prior to being acquired by Zepz according to CNBC. “Over the last year we have taken a serious look at how to optimize the organization to continue scaling in a mature fashion that sets up the business for long-term success,” said CEO Mark Lenhard. The company says it is still hiring for 200 positions even with initiating layoffs.

Nuro, May 12, 2023 announcement. Layoff of 340 people, 30% of workforce.

In an effort to extend its capital runway, the autonomous delivery robot startup will lay off 30% of its workforce, accounting for 340 employees according to TechCrunch. Nuro co-founders Dave Ferguson and Jiajun Zhu wrote a public blog post to employees detailing a shifting of resources away from commercial operations towards R&D. This includes pausing plans to ramp up commercial operations in 2023 and delay volume production of itsthe third-generation Nuro bot, which is a delivery robot designed to be the flagship of its commercial strategy. The move allows Nuro to operate twice as long, giving it enough capital to operate another three years without raising more money, according to Ferguson and Zhu.

Cornershop, May 11, 2023 announcement. Layoff of 250 people, 11% of workforce.

The online grocer and subsidiary of Uber Technologies Inc. is eliminating 11% of its workforce, which will affect 250 employees according to Bloomberg. CEO Oskar Hjertonsson announced the cuts in a memo to impacted staff members that are concentrated in Chile. Cornershop primarily operates in Latin America and Canada, as Uber took a majority stake in the company in 2019 in a bid to extend its geographic reach and increase profits. Uber would later acquire the business in 2021 with bigger plans to bundle food delivery with rides. “Unfortunately, this means we had to take a hard look at roles that are no longer needed to achieve our global grocery and retail plan,” said an Uber spokesperson when reached by Bloomberg.

Microsoft, May 10, 2023 announcement. Layoff of 158 people.

The tech giant announced new layoffs beyond its global restructure that was initiated in January according to GeekWire. After cutting 10,000 jobs in January, Microsoft will slash an additional 158 jobs that will impact its Washington state headquarters. More than 2,700 Seattle area workers were affected by the previous announcement, while Microsoft declined to provide details about additional cuts beyond Washington state, or which areas of the company were affected from its latest memo. Economic uncertainty has limited business technology budgets and caused more cautious customer spending for cloud services and software licenses that drive revenue.

Akamai, May 10, 2023 announcement. Layoff of 290 people, 3% of workforce.

CEO Tom Leighton announced the layoffs in a memo to employees, as the internet and cybersecurity company focuses on its highest growth areas and sustaining profitability according to the Boston Globe. Akamai sent Channel Futures the following statement: “In order to concentrate our investments and resources in our highest growth areas of security and cloud computing, and to sustain our profitability targets during this challenging macroeconomic environment, Akamai has implemented a reduction of a little less than 3% of its workforce across the globe. We are not providing geographic-nor organization-specific details of the workforce reduction, but can confirm less than 3% of our workforce globally was impacted.”

Paramount Media Networks and Showtime/MTV Entertainment Studios, May 9, 2023 announcement. Layoff of 25% of workforce.

After months of internal dialogue regarding the integration of Showtime's rebranding into Paramount+ With Showtime, Paramount Media Networks has announced layoffs that will impact 25% of its workforce according to Variety. President Chris McCarthy said that MTV News and other units mainly comprised of operations will be shutting down. The pairing of mass streaming success and leading the industry in subscriber growth won't sustain the company through economic uncertainty. “However, despite this success in streaming, we continue to feel pressure from broader economic headwinds like many of our peers. To address this, our senior leaders in coordination with HR have been working together over the past few months to determine the optimal organization for the current and future needs of our business,” McCarthy wrote in his memo to employees.

LinkedIn, May 8, 2023 announcement. Layoff of 716 people, 4% of workforce.

The social media network geared toward connecting business professionals with employment opportunities announced a 4% workforce reduction, which accounts for 716 employees according to Reuters. As demand for jobs wavers, LinkedIn moved to combat the economic uncertainty by also closing its China-focused job application, though it will retain a presence in China to help companies hire and train employees outside the country. With Microsoft as its parent company, LinkedIn follows its lead as many technology companies are laying off employees due to a weakening global economic outlook. Revenue is generated through ad sales and subscriptions to recruiting and sales professionals who use the network to find prospects.

The restructure will affect roles in its sales, operations, and support teams in hopes to streamline the company's operations. This will allow LinkedIn to remove layers that will help make quicker decisions. “With the market and customer demand fluctuating more, and to serve emerging and growth markets more effectively, we are expanding the use of vendors,” CEO Ryan Roslansky wrote in his memo to employees. These vendors will act as external partners who will take on new and existing work. However, Roslansky also said in the letter that the changes would result in creating 250 new jobs.

Intel, May 8, 2023 announcement. Layoff of 20% of workforce.

The chipmaker has dealt with a major decline in revenue over the last six months, citing a weak global economy as its reason behind the latest layoff plan according to The Oregonian. This announcement arrives as Intel seeks billions of dollars in subsidies to help offset building costs of new, advanced factories in Arizona and Ohio. “We are focused on identifying cost reductions and efficiency gains through multiple initiatives, including some business and function specific workforce reductions in areas across the company,” said Intel in a written statement. It will continue to invest in areas that are core to business operations, which includes U.S.-based manufacturing.

According to The Oregonian, Intel is also facing increased competition from rivals including TSMC, AMD, and Nvidia, which continue to erode Intel's market share in various key businesses. However, the company does believe that better results await in the second half of the year. Just last week, Intel told employees that it wants to balance remote and in-office work better, believing face-to-face interactions are key, as it seeks to improve productivity, collaboration and corporate culture. Intel's restructure plans reportedly include cuts of up to 20% of its workforce, which will impact employees in the client computing and data center divisions according to the Silicon Angle.

Twist Bioscience, May 5, 2023 announcement. Layoff of 270 people, 25% of workforce.

CEO and co-founder Emily M. Leproust, Ph.D., announced the layoffs in a memo to employees detailing decisive and proactive actions aimed at accelerating its path to profitability, while simultaneously extending the company’s runway according to Biospace. The biotechnology company manufactures synthetic DNA and DNA products for customers in various industries, and the restructure will equal a 25% workforce reduction when completed. Focusing resources on the support of key commercial and development opportunities that have the potential to deliver significant return on investment will guide its decisions moving forward. “Following a strategic and holistic analysis of the business, we prioritized and reengineered our cost base, and with these substantive changes, we believe we are operating from a position of strength, operating as a leaner organization focused on disruptive market opportunities for profitable and scalable growth,” Dr. Leproust wrote in the memo.

Shopify, May 4, 2023 announcement. Layoff of 2,300 people, 20% of workforce.

Despite posting a surprise first quarter profit today, the Canadian e-commerce company announced layoffs accounting for 20% of its workforce according to Reuters. This is the second round of mass job cuts at Shopify in the past year. These developments also pushed Shopify to sell the logistics arm it built over the past few years to freight forwarder Flexport in an all-stock deal. The move signals a major reversal of its strategy of aggressively investing in fulfillment networks, as Shopify had built out its order fulfillment network expecting a pandemic boom in demand to continue.

However, like many of its rivals, the company must pivot to reduce operating costs. Gil Luria, analyst at D.A. Davidson & Co. said, “They can have the best of both worlds – a logistics business that makes them competitive with Amazon without having to manage a business that is not core to Shopify and had been losing money,” in a comment to Reuters.

Sabre, May 4, 2023 announcement. Layoff of 1,100 people, 15% of workforce.

CEO Kurt Ekert has had his hands full since being chosen to lead Sabre in March. The first earnings call in his new role came with a big announcement detailing a 15% workforce reduction at Sabre in hopes to save $200M annually, according to Skift. Sabre specializes in providing operational software and distribution services to travel agencies, airlines, and hotels. “I do not take this decision lightly, especially given the immense respect that I have for all of my Sabre colleagues around the world. However, I am confident that these actions will better position us for the future and put us on a direct path to achieving our financial and strategic targets,” Ekert wrote in the memo to employees.

Streamlining the layers of Sabre's management and employment base, increasing operational efficiencies, and evaluating its real estate footprint are the current focus points at the company. Ekert also expressed prioritizing investment in its strategic growth initiatives, including a continued focus on tech investments, and plans to grow into other market segments and geographies.

Unity, May 3, 2023 announcement. Layoff of 600 people, 8% of workforce.

The software company announced its third and largest reduction within the past year, as recession fears continue to cause cost reduction moves amongst tech companies according to The Wall Street Journal. This announcement comes after Unity laid off 500 employees in January and June of last year in response to economic trends. Unity will also reduce its global network of offices to less than 30, as opposed to its current allotment of 58. The layoffs will impact middle managers, as Unity moves to place more employees under the supervision of fewer managers to flatten its hierarchy.

CEO John Riccitiello said the goal is to streamline operations and improve the company’s top and bottom lines. “It’s all about setting ourselves up for higher growth and it was clear we had too many layers,” he said. While there isn't a formal policy on where employees have to work, Unity said it would adopt a hybrid work model in which employees will be expected to report to an office at least three days a week starting in September.

Upwork, May 3, 2023 announcement. Layoff of 137 people, 15% of workforce.

CEO Hayden Brown shared an email with employees announcing the cuts that accounted for 15% of their full-time workers on Wednesday. Economic uncertainty along with the future of work lead Upwork to restructure its organization, as many hybrid workforce (independent team member) roles were completely eliminated. The majority of the layoffs impacted the enterprise team to streamline operations and drive efficiency in other areas of the business. “Working as a high-performing and efficient team has always been important to us, and as this year has unfolded, we have been proactive in adapting our plans across hiring, vendor spend and brand media budget—which we are reducing by 94% for the second half of this year—in response to the realities our business is facing,” Brown wrote in the memo.

Eric Gilpin, chief sales officer and current GM, enterprise, is stepping down as of today's announcement. “He will stay on in an advisory role to me and our team through the end of the quarter. We'll launch a search for a general manager for our Enterprise business unit and the team will report to me in the interim,” Brown added.

IBM, May 1, 2023 announcement. Hiring freeze that could replace over 7,800 jobs with AI.

CEO Arvind Krishna told Bloomberg News about the hiring freeze on Monday. 30% of non-customer facing roles could be replaced by AI and automations in five years, while hiring for back-office functions such as human resources will be suspended or slowed according to Krishna. The restructure could include not replacing roles vacated by attrition.

April 2023 Tech Layoffs

Cue Health, April 28, 2023 announcement. Layoff of 326 people, 30% of workforce.

The San Diego based test maker that sold COVID-19 kits to the NBA and Google, announced layoffs in hopes to reduce operating costs according to The San Diego Union-Tribune. After sharing the cuts in an SEC filing, Cue Health initiated its third round of cuts within the past year. CEO Ayub Khattak noted that the company has been making progress creating products beyond its COVID-19 test, though revenue generation has yet to build. “Therefore, we remain in an in-between period at Cue: between the launch of our COVID-19 product and the rollout of our expanded test menu and integrated care platform,” Khattak wrote in his memo to employees.

Dropbox, April 27, 2023 announcement. Layoff of 500 people, 16% of workforce.

CEO Drew Houston wrote a blog post to Dropbox employees detailing the layoffs today. “First, while our business is profitable, our growth has been slowing. Second, and more consequentially, the AI era of computing has finally arrived,” Houston noted. He alluded to Dropbox having a longstanding interest in AI that is finally being realized in the present. The software company will streamline its organizational structure, by consolidating teams and aligning function and strategy. Sustainable financial growth, efficiency, and flexibility to invest in its future are the focus points after announcing the cuts. “These transitions are never easy, but I'm determined to ensure that Dropbox is at the forefront of the AI era, just as we were at the forefront of the shift to mobile and the cloud,” Houston added.

Alteryx, April 27, 2023 announcement. Layoff of 320 people, 11% of workforce.

The big-data company and ETL provider announced layoffs that will impact sales, marketing, and general administrative teams according to SiliconANGLE. The 11% reduction of staff will allow Alteryx to reduce operating costs, improve operating margins and help it to achieve profitability faster than ever. “Our key strategic go-to-market initiatives and our rapid platform innovation are effectively enabling the business to demonstrate strong resilience in an increasingly dynamic macro backdrop,” CEO Mark Anderson wrote in a memo to employees.

Clubhouse, April 27, 2023 announcement. Layoff of 50% of workforce.

Co-founders Paul Davison and Rohan Seth announced the layoffs in public email to its employees, detailing that 50% of its workforce will be let go as we move further away from the COVID pandemic. “But as the world has opened up post-COVID, it's become harder for many people to find their friends on Clubhouse and to fit long conversations into their daily lives. To find its role in the world, the product needs to evolve,” Davison wrote in the memo. A company reset is needed to fix the issue, which includes eliminating roles to create a leaner, product-focused team.

Extramarks, April 26, 2023 announcement. Layoff of 300 people.

The educational technology platform will be laying off 300 employees in a restructuring move according to Inc42. Most of the impacted employees are from the B2C vertical department, which includes sales, customer support, human resources, marketing, tech, and content teams. As the world continues to reopen post-pandemic, offline learning is trending in popularity, while companies like Extramarks begin to trend the opposite way.

Skill Lync, April 25, 2023 announcement. Layoff of 400 people.

The Chennai based startup specializing in upskilling will layoff 400 employees. Skill-Lync provides employment opportunities to students who successfully complete its program. An uncertain economic future prompted co-founder Surya Narayanan Paneer Selvam to initiate and announce the cuts today. Impacted employees are from sales, marketing, pre-sales, tech and talent acquisition teams. “We’ve decided to consolidate our operations across Chennai, Bengaluru and Hyderabad, with only corporate-facing teams operating from Pune/Delhi which further led to some headcount reduction. We’ve also reduced the hierarchy in our organization for more agile decision making and accountability,” Paneer Selvam wrote in the memo.

RapidAPI, April 25, 2023 announcement. Layoff of at least 115 people, 50% of workforce.

The startup known for building out an API marketplace will be laying off half of its staff according to Tech Crunch. After being appointed last week, CEO Mark Friend notified employees of the cuts via email saying: “We have grown large as an organization and often sacrificed agility. Moving forward, we will be disciplined on our product focus and ruthless about customer success.” Employees working on teams in sales, talent acquisition, engineering, and product and marketing across Europe, Tel Aviv, and San Francisco will be immediately impacted.

Flink, April 24, 2023 announcement. Layoff of 8,000 people, 40% of workforce.

The Berlin based food delivery service will be laying off 40% of its workforce to combat difficult market conditions and an uncertain economic future, according to Manager Magazin. Layoffs will affect every department of Flink except the tech team, which has ironically seen an increase in hires. Flink will not be expanding to other countries at this time and is currently looking for a investors to raise capital.

Red Hat, April 24, 2023 announcement. Layoff of 760 people, 4% of workforce.

CEO Matt Hicks sent an mail to employees earlier today announcing the layoffs, which was a decision he and the leadership team hoped to avoid. According to News Observer, the cuts at the software company will impact general and administrative positions, while customer sales and product buildout teams will remain in tact. “This decision is now appropriate to ensure Red Hat's ability to compete in a new environment,” Hicks wrote in the email. With a storied 30-year history, Red Hat is considered to be the global leader in providing open-source software services. That reputation has only grown stronger after being acquired by IBM in 2019.

Lyft, April 21, 2023 announcement. Layoff of at least 1,072 people, 26% of workforce.

The ride sharing company echoes long term health concerns of every other company on this list by declaring its move to reduce operational costs. CEO David Risher announced the layoffs in a note to employees, saying he wants to do more to meet the needs of riders and drivers. “And we need to bring our costs down to deliver affordable rides, compelling earnings for drivers, and profitable growth,” Risher wrote.

Lyft considers its drivers to be contractors, not employees. The restructure could impact 1,200 employees or more, which accounts for at least 30% of its workforce according to The Wall Street Journal. “With these changes, we have the opportunity to become the customer-focused, large-scale, profitable business we should be,” Risher said in the memo. The newly appointed CEO will officially notify impacted employees next Thursday, April 27.

BuzzFeed, April 21, 2023 announcement. Layoff of 180 people, 15% of workforce.

Because of an inability to make a profit, CEO Jonah Peretti sent a memo to employees announcing the layoffs across BuzzFeed News and other divisions according to Variety. “While layoffs are occurring across nearly every division, we've determined that the company can no longer continue to fund BuzzFeed News as a standalone organization,” Peretti noted. According to Peretti, BuzzFeed's priority is to now funnel its news efforts into a single profitable news organization, HuffPost, which was acquired from Verizon in 2020. The company's flagship BuzzFeed.com website lives on.

Insider, April 20, 2023 announcement. Layoff of 10% of workforce.

The online media giant will be laying off 10% of its staff according to a public memo shared by president Barbara Peng, according to reporting from Yahoo. “The economic headwinds that have hurt many of our clients and partners are also affecting us. Unfortunately, to keep our company healthy and competitive, we need to reduce the size of our team,” Peng noted in the memo. In audio obtained by The Daily Beast, CEO Henry Blodget told staffers in a call Thursday morning that the cuts were a result of a significant decline in advertising dollars and people spending less time consuming news.

Lenovo, April 20, 2023 announcement. Layoff of at least 5% of workforce.

In an effort to save upwards of $115m and trim operational costs, Lenovo has initiated layoffs in response to the severe decline in PC and smartphone revenue according to Channel Web. Paired with Lenovo's hopes of doubling its net margin in the next few years, the company has also moved to invest in high-margin growth engines. However, CEO Yuanqing Yang expects the market to stabilize later this year, but time will tell if that prediction comes true. According to Nikkei Asia reports, the total is at least 5% of Lenovo's workforce.

F5, April 19, 2023 announcement. Layoff of 623 people, 9% of workforce.

The cloud and security services firm announced that it will be laying off 623 people, which accounts for 9% of its workforce. F5 will also be cutting the bonuses of senior executives, as well as reducing spending on office space and executive travel to help trim operational costs immediately. “It's clear that rising interest rates, geopolitical events, and macroeconomic uncertainty have dramatically affected our customers' spending patterns... we must take measures to decrease our costs without jeopardizing our future growth trajectory,” CEO François Locoh-Donou said in an email to staff obtained by Reuters.

Opendoor, April 18, 2023 announcement. Layoff of 560 people, 22% of workforce.

Opendoor announced a massive, 22% staff reduction accounting for 560 employees that will mainly impact the operations unit. The online real estate firm that uses AI to buy, price, and sell homes had already laid off 18% (550 total) of its workforce in November of last year. A declining house market has been the biggest factor in Opendoor's decision, with listings falling 30% from their 2022 apex partly due to higher mortgage interest rates. “We're taking actions now to better align our operational costs with the anticipated near-term market opportunity,” the company said in an email to Reuters confirming the layoffs.

Snyk, April 14, 2023 announcement. Layoff of 128 people.

CEO Peter McKay notified employees of the restructure in a public blog post, noting that GTM and Corporate Functions teams would be impacted immediately. According to McKay, these changes allow Snyk to right-size its GTM organization to further focus on customer success in the enterprise sector, prioritize solidifying its AppSec leadership, and simplify organizational layers to get closer to customers and improve its overall speed, agility and communication.

“Together, we took concepts like Shift Left and DevSecOps and turned them into reality for our early customers. But as the developer security market has matured, our customer base has evolved from early adopters to the early majority, including some of the world’s largest, most complex organizations. These global brands are counting on our team to deliver on our developer security vision, which we know is so much more than a simple product purchase -- it’s a cultural revolution. Simply put, they need more help from us,” McKay said in the blog post.

Accenture, April 14, 2023 announcement. Layoff of 19,000 people, 2.5% of workforce.

The professional services company said that more than half of the 19,000 employees being laid off are back-office staff. A gloomy economic outlook caused Accenture to streamline its operations and transform non-billable corporate functions to reduce costs, but their latest quarterly report to the Securities and Exchange Commission said hires will continue, according to reporting from CNN.

Milkrun, April 11, 2023 announcement. Layoff of 400 people, 100% of workforce.

Co-founder Danny Milham announced the closing of Milkrun and a trading shutdown as of April 14, in a memo to employees. Back in February, the Australian grocery delivery startup made 20% of its staff redundant to consolidate delivery hubs, according to Forbes AU. The pandemic, plus constant and instant demand helped enhance the niche lane for e-shopping, as billions were poured into warehouses enabling fast delivery. However, as the world trended away from the pandemic, demand for such services slowed drastically.

1K Kirana, April 4, 2023 announcement. Layoff of 600 people, 40% of workforce.

Co-founder Kumar Sangeetesh confirmed today that tech startup 1K Kirana Bazaar has laid off about 600 employees. “We are currently in the process of restructuring as our growth forecasts have changed. We are changing our focus areas and moving out of a few geographies,” Sangeetesh said in a statement to Moneycontrol according to its reporting. 1K Kirana struggled to raise fresh funding due to investors' increased focus on profitability and financial metrics, leading to this situation. The cuts will impact the on-ground operations, warehouse, delivery, network operations, growth, and tech teams, according to Moneycontrol.

Hyland Software, April 3, 2023 announcement. Layoff of 1,000 people, 20% of workforce.

CEO Bill Priemer announced the layoffs in a letter shared on Hyland's website, noting that the cuts would impact 1,000 employees globally, which accounts for 20% of its workforce. “We are removing layers of management, adjusting team sizes and reassigning responsibilities across departments and levels,” Priemer said. Founded in 1991 as a software development company, Hyland has been transforming into a cloud company, and doing so has required a substantial amount of spending on new systems and on its workforce.

March 2023 Tech Layoffs

CoverMyMeds, March 29, 2023 announcement. Layoff of 800 people.

CoverMyMeds, the Columbus-based health tech firm known for developing a platform that transmits prior authorization requests between pharmacies, medical providers and health plans, announced layoffs to its staff this morning totaling 815 employees. President Kevin Kettler's email said the company will also be leasing out space in its new Franklinton headquarters, along with closing its patient support center located in Scottsdale, Arizona, according to a report from The Columbus Dispatch.

Electronic Arts, March 29, 2023 announcement. Layoff of 780 people, 6% of workforce.

In a memo to employees, the creators of beloved videogame franchises like “Madden NFL” and “The Sims” said it is laying off about 6% of its workforce and reducing its office-space footprint to focus its spending on the best growth opportunities in the gaming industry, according to reporting from The Wall Street Journal. “Now, more than ever, we must be focused on our strategic priorities. These priorities align our investments with opportunities to make the biggest impact,” CEO Andrew Wilson said in his blog post to employees. The announcement makes EA the first major videogame publisher to disclose significant layoffs.

Lucid Motors, March 28, 2023 announcement. Layoff of 1,300 people, 18% of workforce.

CEO and CTO Peter Rawlinson said in an email to employees that the restructuring is the result of Lucid's evolving business needs and productivity improvements according to Tech Crunch. Rawlinson noted that while the company has reduced costs, it was not enough to avoid layoffs that align with a cost-reduction announcement made in late February.

Disney, Metaverse Division, March 28, 2023 announcement. Layoff of 50 people.

The smaller, 50 person unit focused on creating metaverse strategies and a new form of storytelling was terminated as a result of the overall layoff plan outlined on Monday by CEO Bob Iger. Former consumer-products executive Mike White led the division tasked with utilizing next-gen technological formats, while using Disney’s extensive library of intellectual property to tell new stories, according to reports from the Wall Street Journal.

Disney, March 27, 2023 announcement. Layoff of 7,000 people, 3.2% of global workforce.

In hopes to regenerate finances and reach profitability within its streaming business, Disney CEO Bob Iger announced plans to lay off 7,000 employees today. The streaming race paired with the need for constant content creation has limited Disney's ability to produce new shows, but the cuts will allow for reimagined spending efforts moving forward. Units formerly known as Disney General Entertainment and Disney Media and Entertainment Distribution, as well as corporate positions and jobs in the theme parks, along with experiences and consumer products business, will be impacted immediately.

Reported by the LA Times, general entertainment refers to Disney shows and movies that don’t clearly fall into any of the companies’ most popular brands, such as Marvel, Star Wars and Pixar. Disney’s general entertainment unit has typically provided shows to ABC and Hulu. Additionally, Iger has been noncommittal about whether Disney will buy the 33% of Hulu it doesn’t already own from Comcast.

Iger noted that employees impacted from today's memo will be notified by Disney this week, with a second, larger restructure due in April with several thousand more staff reductions, followed by a final group before the beginning of summer. In what seems to be a bleak outlook, Iger closes saying, “for our employees who aren't impacted, I want to acknowledge that there will be no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward.”

Indeed, March 22, 2023 announcement. Layoff of 2,200 people, 15% of workforce.

With future job openings at or below pre-pandemic levels, Indeed has acknowledged that it is simply too big for what lies ahead. CEO Chris Hyams announced the layoffs in a blog post today saying, “the cuts come from nearly every team, function, level and region at Indeed and Indeed Flex.” Ironically, the global employment company is focused on preparing for the future to align strategy and priorities, while reducing duplication of effort and inefficiency. “I will be taking a 25% cut in base pay. Additionally, more than 75% of my total compensation is directly tied to Indeed revenue growth, and is at risk given current trends. We will be instituting additional cost saving measures moving forward, which I will outline tomorrow,” Hyams noted.

According to details shared by Indeed after its last Quarterly Update meeting, it is clear the job market will continue to cool after the recent post-COVID boom. “It is becoming increasingly likely that HR Tech revenue will decline in FY2023 and potentially again in FY2024. Last quarter, US total job openings were down 3.5% year over year, while sponsored job volumes were down 33%. In the US, we are expecting job openings will likely decrease to pre-pandemic levels of about 7.5 million, or even lower over the next two to three years,” said Hyams in his note to employees.

Just Eat, March 21, 2023 announcement. Layoff of 1,700 people.

In February, Just Eat announced that UK orders fell 10% and the firm alarmed investors by failing to offer a sales forecast for 2023. According to reports from Yahoo, global orders dropped 9% in 2022, Just Eat said, while revenues increased 4% to 5.6 billion euros (£4.9 billion). CEO Jitse Groen said most of the increased sales related to higher prices charged by restaurants. However, gross transaction value (GTV), a measure of the size of orders, stayed flat. Efficiency and simplicity will be the new focus moving forward.

Twitch, March 20, 2023 announcement. Resignation of former CEO and co-founder Emmett Shear. Layoff of over 400 people, 20% of workforce.

On Thursday, March 16, CEO and co-founder Emmett Shear announced his decision to step down from his position to spend more time with his growing family. The 16 year run was full of highs and lows, marred by controversies with its creators and viewers along with having its talent consistently poached by YouTube. Following Shear's exit was the announcement that 20% of Twitch's workforce is being laid off by new and current CEO Dan Clancy.

With Amazon being Twitch's parent company, the pending restructure was easily predictable. In what has become a familiar tune, Clancy points to the general economic climate trending downward stating, “Like many companies our business has been impacted by the current macroeconomic environment, and user and revenue growth has not kept pace with our expectations. In order to run our business sustainably, we’ve made the very difficult decision to shrink the size of our workforce.

Amazon, March 20, 2023 announcement. Layoff of 9,000 people.

Amazon's earlier round of layoffs began in November 2022 and trickled into January of this year, with 18,000 employees being notified of the restructure. Those impacted were devices, human resources, recruiting and retail departments. Today, CEO Andy Jassy shared a memo to employees announcing 9,000 additional layoffs that will come to fruition over the next few weeks. This round of cuts will primarily impact Amazon’s advertising, cloud computing, human resources, and Twitch livestreaming businesses. According to CNBC, “Amazon is undergoing the largest layoffs in company history after it went on a hiring spree during the COVID-19 pandemic. The company’s global workforce swelled to more than 1.6 million by the end of 2021, up from 798,000 in the fourth quarter of 2019.”

Meta, March 14, 2023 announcement. Layoff of 10,000 people, 13% of workforce.

Meta's CEO and founder Mark Zuckerberg announced that it will layoff about 13% of its workforce in the latest restructure move he's calling a “year of efficiency.” This follows November's 13% job reduction at the company that has been reeling from over-acquiring and hiring within the industry. Meta also plans to close almost 5,000 job postings that have yet to be filled, detailed by Zuckerberg in the memo. The layoffs will affect its recruiting team this week, with a restructuring of its tech and business groups to come in April and May. According to the New York Times, “Meta is dealing with many challenges these days. It is grappling not only with a digital advertising slowdown but also with Apple’s privacy changes to its mobile operating system, which have restricted Meta’s ability to collect data on iPhone users to help target ads.”

GoTo Gojek Tokopedia, March 10, 2023 announcement. Layoff of 600 people.

Indonesia's biggest tech firm PT Goto Gojek Tokopedia announced another round of layoffs aimed at streamlining the organization and boosting the company's profitability according to Reuters. Becoming more “agile” and maintaining growth amid challenging global economic conditions are the major focus moving forward.

Xero, March 9, 2023 announcement. Layoff of 800 people, 15% of workforce.

CEO Sukhinder Singh Cassidy's memo to employees said the cuts were part of a plan to stream line Xero's operations, realign the business and provide a better balance of growth and profitability according to Stuff. The impact of the restructure will be felt most by production, marketing, strategy and talent teams.

Atlassian, March 6, 2023 announcement. Layoff of 500 people, 5% of workforce.

According to a blog post written by Atlassian's co-founders and co-CEOs Scott Farquhar and Mike Cannon-Brookes, the cuts signal a greater focus on key priorities such as IT service management and helping customers move workloads from on-premises data centers to the cloud, and thus has less to do with finances compared to competitors. Layoffs won't be evenly distributed across the company, with the most impacted teams including Talent Acquisition, Program Management, and Research & Insights.

SiriusXM, March 6, 2023 announcement. Layoff of 475 people, 8% of workforce.

Every department at SiriusXM will be impacted from the layoffs announced by CEO Jennifer Witz according to Variety. The move comes in an effort to sustain company profitability. “We are entering into a new phase for our company. The investments we are making in the business this year, coupled with today’s uncertain economic environment, require us to think differently about how our organization is structured,” Witz said in the layoff memo to employees.

Thoughtworks, March 1, 2023 announcement. Layoff of 500 people, 4% of workforce.

The software consultancy firm laid off 500 employees this week. “We confirm that we have made the difficult decision to reduce our workforce by about four percent globally,” Thoughtworks global public relations head Linda Horiuchi said in a statement emailed to TechCrunch.

February 2023 Tech Layoffs

Twitter, Feb. 25, 2023 announcement. Layoff of 200 people, 10% of workforce.

Twitter laid off 200 employees, with many discovering that they were logged out of their corporate email accounts and laptops — the first hint that layoffs had begun, according to the New York Times. Those impacted are product managers, data scientists and engineers specializing in machine learning and site reliability, enabling Twitter’s various features online. After acquiring the social media platform in October, Elon Musk has steadily trimmed its work force from about 7,500 employees as he has sought to reduce costs.

Ericsson, Feb. 24, 2023 announcement. Layoff of 8,500 people, 8% of workforce.

In a memo to employees, the Swedish company will layoff 8,500 employees globally as part of its plan to cut costs, as reported by Reuters. “The way headcount reductions will be managed will differ depending on local country practice, said a company spokesperson in Friday's statement. Ericsson said it expects to start seeing the effect of its cost savings in the second quarter of this year.

Ericsson, Feb. 20, 2023 announcement. Layoff of 1,400 people.

Telecoms gear maker Ericsson will slash 1,400 jobs in Sweden to prioritize global cost reductions, announced on Monday, according to Reuters. This news follows a December announcement to trim costs by 9 billion crowns ($880 million) by the end of 2023 as demand slows in some markets, including North America. Sources close to the matter told Reuters that further job cuts are expected in other countries that will impact thousands.

DocuSign, Feb. 16, 2023 announcement. Layoff of 680 people, 10% of workforce.

The e-signature software company recently downsized their workforce in September by 9%, followed by an additional cut of 10% announced today. The restructuring plan arrives with the hope to support growth, scale, and profitability objectives, which will heavily impact DocuSign's worldwide field organization. “This action allows us to reshape the company to more effectively position us for profitable growth, while freeing up resources for investments,” a DocuSign spokesperson told CNBC.

Twilio, Feb. 13, 2023 announcement. Layoff of 1,500 people, 17% of workforce.

After already laying off 11% of their workforce in September, Twilio CEO Jeff Lawson announced today that even more layoffs were coming. “As we’ve refined our strategy over the past several months, it's become apparent we need significant structural changes to better execute our strategy. This is because the two parts of our business – communications and software – are at different lifecycle stages and have different operating needs,” Lawson said in a company blog post.

Yahoo, Feb. 9, 2023 announcement. Layoff of 1,600 people, 20% of workforce.

The days of Yahoo jockeying for digital advertising dominance with Google and Meta are coming to an end. The announcement was reported by Axios after speaking with executives, which detailed plans to lay off more than 20% of its total workforce. With a major restructuring of its ad tech unit ahead, CEO Jim Lanzone stressed that the layoffs are not attributable to financial challenges, but rather, strategic changes to the company's Yahoo for Business advertising unit, which is not profitable, according to Axios.

Affirm, Feb. 8, 2023 announcement. Layoff of 500 people, 19% of workforce.

CEO and founder Max Levchin wrote, “The root cause of where we are today is that I acted too slowly as these macroeconomic changes unfolded,” in a now-public message to employees, according to CNBC. The bombshell dropped as it reported second-quarter earnings that fell below analyst estimates on both the top and bottom lines.

Zoom, Feb. 7, 2023 announcement. Layoff of 1,300 people, 15% of workforce.

Zoom's CEO and founder Eric Yuan shared a memo to staff saying, “Each organization across Zoom will be impacted by these changes.” According to the release, Zoom's leadership carefully examined and made decisions based on critical priorities for long-term growth, and also looked for functions that have become overly complex or duplicative. To further display accountability, Yuan will also decrease his salary for the coming fiscal year by 98% and forego his FY23 corporate bonus. “Members of my executive leadership team will reduce their base salaries by 20% for the coming fiscal year while also forfeiting their FY23 corporate bonuses,” he said.

Dell, Feb. 6, 2023 announcement. Layoff of 6,650 people, 5% of workforce.

Dell's PC boom during the pandemic-era has slowly come to an end, with various hardware makers experiencing major drops in demand. Among major companies, Dell saw the largest decline -- 37% compared with the same period in 2021, according to IDC. The erosion of market conditions has helped create an uncertain future globally, according to a blog post from Co-COO Jeff Clarke. “The steps we’ve taken to stay ahead of downturn impacts -- which enabled several strong quarters in a row -- are no longer enough. We now have to make additional decisions to prepare for the road ahead,” said Clarke.

Byju's, Feb. 2, 2023 announcement. Layoff of 1,500 people.

After placing hundreds of employees on personal improvement plans (PIP), multinational edtech company Byju's cited poor employee performance as reasoning behind its latest round of layoffs. Engineering and product teams will be impacted most, according to LinkedIn posts from now former employees.

January 2023 Tech Layoffs

PayPal, Jan. 31, 2023 announcement. Layoff of 2,000 people, 7% of workforce.

PayPal is in the process of “right sizing” its cost structure and made additional steps to bring that into fruition, according to a release posted to the company's website. “We have more work to do. We must continue to change as our world, our customers, and our competitive landscape evolve.”

NetApp, Jan. 31, 2023 announcement. Layoff of 960 people, 8% of workforce.

CEO George Kurian's memo to staff said “companies are facing an increasingly challenging macroeconomic environment, which is driving more conservatism in IT spending. We are not immune to these challenges.”

Workday, Jan. 31, 2023 announcement. Layoff of 525 people.

Workday Co-CEOs Aneel Bhusri and Carl Eschenbach sent an email to employees, which was also posted publicly, detailing a realignment of resources to focus their business in FY24. The company dismissed theories of over hiring, assuring employees that their global workforce will increase in 2024. However, product and technology teams will be affected immediately.

OLX Group, Jan. 31, 2023 announcement. Layoff of 1,500 people, 15% of workforce.

The OLX Group's dwindling demand for its services has caused the company to downsize their global workforce. Engineering and operations teams will be impacted the most, while cost structure and future ambitions are reimagined. A company spokesperson publicly confirmed the move stating, “OLX is taking the necessary measures to reduce its cost structure in light of changing macroeconomic conditions.”

SAP, Jan. 26, 2023 announcement. Layoff of 3,000 people.

According to SAP's CFO Luka Mucic, “the company expects about 300 to 350 million euros [$327-$382 million] in run rate savings.” The restructuring announcement detailed goals of a streamlined portfolio and increased investments in high-impact areas for the company. SAP will also attempt to recoup its stake in American business software provider Qualtrics, after making the initial $8 billion investment back in 2018.

IBM, Jan. 25, 2023 announcement. Layoff of 3,900 people.

IBM's workforce reduction comes with a silver lining attached for some current employees. “IBM still expects to hire in the higher growth areas. The effect of currency fluctuations should be neutral overall in 2023,” according to CFO James Kavanaugh in an interview with Bloomberg. Kavanaugh told Reuters the company was still committed to hiring for client-facing research and development. The layoffs came despite IBM also reporting its highest annual growth in a decade, powered by its fast-growing cloud market.

Google, Jan. 20, 2023 announcement. Layoff of 12,000 people.

Google and Alphabet’s CEO Sundar Pichai sent an email to employees, which was also posted publicly. He said, “Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today.” Pichai said the job cuts are across product areas, functions, levels, and regions.

Capital One, Jan. 19, 2023 announcement. Layoff of 1,100 people.

Capital One is eliminating its “agile delivery of technology” department, thus shifting this workload to engineers and product managers that will be expected to use these routines. “This announcement is not a reflection on these individuals or the work they have driven on behalf of our technology organization. Their contributions have been critical to maturing our software-delivery model and our overall tech transformation,” Capital One said in its message to employees obtained by Bloomberg.

Microsoft, Jan. 18, 2023 announcement. Eliminating 10,000 jobs, less than 5% of workforce.

A public post shared CEO Satya Nadella’s note to Microsoft employees, which said that the company will reduce its overall workforce by 10,000 through the end of the fiscal year 2023 third quarter. Nadella said that while Microsoft will eliminate jobs in some areas, the company will continue to hire in key strategic areas. Nadella said the changes were driven as customers are shifting spending. During the pandemic they accelerated digital spending. Now, “we’re seeing them optimize their digital spend to do more with less.” Nadella also mentioned the potential for recession.

Cloud Software Group, Jan. 11, 2023 announcement. Layoff of 15% of workforce.

Cloud Software Group was the company formed when private equity owners merged Citrix and Tibco, two enterprise giants. In a public post, CEO Tom Krause said the company had undergone a rigorous review and planning process that identified redundancies in the workforce.

Coinbase, Jan. 10, 2023 announcement. Layoff of 950 people.

Coinbase CEO Brian Armstrong announced the layoffs in a letter to employees on Jan. 10, 2023, saying the layoff of 950 people was part of an initiative to reduce the company’s operating expenses by 25% quarter to quarter. The company had already cut 18% of jobs in June 2022. Armstrong said the changes to improve operational efficiency will help it weather downturns in the crypto market and capture opportunities that may emerge.

Informatica, Jan. 10, 2023 announcement. Layoff of 450 people, 7% of workforce.

The company made the news public in an 8-K filing with the SEC. Informatica said that this plan is intended to better align the company’s global workforce and cost base with its cloud-focused strategic priorities. In addition, the company’s CFO Eric Brown left and a new CFO, Michael McLaughlin, was appointed.

Salesforce, Jan. 4, 2023 announcement. Layoff of 7,900 people, 10% of workforce.

Salesforce CEO Marc Benioff said in a letter to employees on January 4 that the current environment is challenging and customers are “taking a more measured approach to their purchasing decisions.” Benioff said that as revenue accelerated during the pandemic, Salesforce hired too many people and now the company is facing an economic downturn. Therefore the company will reduce its workforce by 10%.

Amazon, November 2022 and Jan. 4, 2023 announcements. Layoff of over 18,000 people.

Amazon CEO Andy Jassy first shared plans about coming layoffs in the company’s blog in November 2022 targeting the organization’s devices and books divisions, and then updated that on Jan. 4, 2023. In the January blog post he said that Amazon would eliminate just over 18,000 roles, the highest number in the company’s history, with the majority of those cut being in Amazon Stores and PXT Solutions (People, Experience, and Technology, essentially HR). Ironically, the PTX team had posted a recruitment video for the team just nine months ago. The layoffs are scheduled to happen the week of January 18, but Jassy announced them early due to leaks. Amazon had 1.61 million employees in 2021.

Vimeo, Jan. 4, 2023 announcement. Layoff of 11% of workforce.

Vimeo CEO Anjali Sud announced the move in a note to employees. This 11% reduction follows an earlier 16% reduction in July 2022. Most of those impacted are in sales and R&D because those departments make up most of the workforce. Sud cited a deterioration in economic conditions, geopolitical conflict, rising interest rates, and global recession fears. She said the executive team would focus on two business priorities going forward -- reaccelerating self-serve and doubling down on Vimeo Enterprise.

2022 Tech Layoffs

DoorDash, November 2022 announcement. Layoff of 1,250 people, 6% of workforce.

In his memo to employees, CEO Tony Xu said that the company sped up hiring during the pandemic to meet the opportunity as so many homebound people started ordering to have their restaurant meals delivered. But growth has tapered, he said, compared to the pandemic growth rates, and the company needed to get its operating expenses in line with its revenue.

Meta, November 2022 announcement. Layoff of 11,000 people.

Facebook parent Meta announced it would lay off 13% of its workforce, or 11,000 employees. In addition, the company said it would cut discretionary spending and extend its hiring freeze through Q1 2023. CEO Mark Zuckerberg said in a letter to employees that the pandemic drove people online and e-commerce surged -- a trend that he thought would continue, so he invested more. However, e-commerce returned to prior levels. He also cited a macroeconomic downturn, increased competition, and ads signal loss as contributing to much lower revenue.

Twitter, November 2022 and ongoing. Layoff of over 5,000 people.

Elon Musk completed his $44 billion purchase of Twitter on October 27 and immediately fired top executives. Days later mass layoffs began and have continued ever since.

UiPath, November 2022. Layoff of 241 people, 6% of workforce.

The company mentioned this workforce reduction in an SEC filing under the heading “Costs Associated with Exit or Disposal Activities.” The filing stated that the cuts support the company’s positioning to increase execution velocity, operational efficiency, and customer centricity.

iFit, November 2022. Layoff of 300 people, 20% of workforce.

Fueled by the at-home fitness boom, iFit hired during the pandemic and reached a high of more than 2,500 employees. The company makes exercise equipment and exercise content for the home market. But demand fell off after the peak of the pandemic. These new cuts take those employee numbers down to a sobering 1,300.

Peloton, October 2022. Layoff of 500 people, 12% of workforce.

These most recent cuts in October came after several other rounds of layoffs (including one in February 2022 of 20% or 2,800 employees) at the online fitness equipment and content company. The company saw huge growth during the pandemic as more people wanted to work out at home. But demand has dropped as some aspects of life, such as gym attendance, have gotten close to pre-pandemic norms again.

DataRobot, August 2022. Layoff of 260 people, 26% of workforce.

CEO Debanjan Saha said in a blog post announcing the company restructuring that “the market now looks different than it did in 2021 as global IPO activity hit an all-time high, when DataRobot pursued an aggressive growth strategy and expanded business operations in preparation for the public markets.” The news also followed the departure of four senior executives, including the former CEO, following controversial insider share sales. The August announcement was the second layoff of 2022. In May the company laid off nearly 7% of its workforce.

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