Layoffs in United States

Appcues representing approximately 15% of its workforce on 2023-03-08.

Zulily on 2023-03-07.

Take-Two Interactive on 2023-03-07.

Catch representing approximately 100% of its workforce on 2023-03-07.

Zwift, the virtual cycling and running platform, announced a restructuring on March 7, 2023, resulting in layoffs of about 80 employees, which represents 15% of its workforce. The decision, driven by new Co-CEO Kurt Beidler, who joined from Amazon in December 2022, shifts focus toward investing in product fundamentals over marketing and brand spending. The cuts primarily affect marketing and HR teams in the UK and US, with impacted employees receiving severance and bonus packages. This follows a previous round of layoffs in spring 2022, reflecting ongoing adjustments in the competitive sports technology industry.

SiriusXM, the satellite radio and audio streaming company, laid off 475 employees, representing 8% of its workforce, in March 2023. CEO Jennifer Witz announced the cuts as part of a wide-ranging restructuring, citing economic uncertainty and a need to operate with greater agility and efficiency to maintain sustainable profitability. The layoffs affected nearly every department and followed a period of expansion through acquisitions like Pandora and Stitcher. This move positioned SiriusXM among other media companies reducing headcount amid challenging economic conditions.

UserTesting laid off 63 employees on 2023-03-03.

Accolade on 2023-03-03.

Embark Trucks, an autonomous trucking company that went public in 2021, is laying off approximately 230 employees, representing 70% of its workforce, as announced on March 3, 2023. The remaining 30% of staff will focus on winding down operations, with the company shutting down its Southern California and Houston offices. CEO Alex Rodrigues stated that after exhausting all alternatives, they were unable to identify a viable path forward for the business. The board is now exploring strategic alternatives, including potential asset liquidation or dissolution, following an extended evaluation of markets and a failed attempt to sell the company. This move highlights the ongoing challenges in the self-driving truck industry.

Airbnb laid off 30 employees on 2023-03-03.

Indigo on 2023-03-03.

Orchard, a real estate technology company, has laid off a number of employees due to a slow housing market recovery characterized by persistently high interest rates and low inventory. The company announced the layoffs as a necessary cost-cutting measure to ensure long-term stability and its ability to serve customers. While the exact number of affected employees was not specified in the initial post, a subsequent comment from the company provided a link to an opt-in list for impacted professionals across customer service, real estate, and tech roles. The layoffs are part of broader austerity efforts to navigate ongoing industry uncertainty.

CNET, the prominent technology media outlet owned by private equity-backed Red Ventures, conducted significant layoffs in early March 2023, cutting approximately a dozen employees. This represents about 10 percent of its public masthead. The restructuring occurred just weeks after controversy emerged over CNET's quiet use of AI to generate articles. Announced internally by Red Ventures, the layoffs are part of a strategic shift to streamline operations and refocus the site on content that can drive traffic from Google search. Concurrently, editor-in-chief Connie Guglielmo stepped down to assume a new role as senior vice president of AI content strategy, signaling a continued corporate emphasis on artificial intelligence within the digital media industry.

MasterClass laid off 79 employees on 2023-03-02.

Moving concierge startup Kandela, based in Beverly Hills, has filed for bankruptcy in March 2023, citing insolvency after losing a legal dispute with its parent company, Porch Group. The company, which had over 100 employees absorbed by Porch after its 2019 acquisition, now operates as a shell with no assets, employees, or business operations. The bankruptcy stems from a $1.4 million arbitration award favoring Porch, which Kandela cannot pay, leading to liabilities of nearly $1.8 million. The startup, focused on arranging home service installations, attributed its downfall to alleged fraud by Porch over $6 million in earnouts, culminating in its closure after failed appeals and settlement attempts.

Cybersecurity firm Zscaler has laid off approximately 177 employees, representing 3 percent of its workforce of about 5,900. The company disclosed the restructuring plan on Thursday, following a period of aggressive hiring that doubled its team size over the past 18 months. Amid a challenging economic environment, Zscaler initiated a targeted optimization to streamline operations, address inefficiencies, and better align resources with strategic priorities. The layoffs are part of a broader trend in the tech and cybersecurity industries, with the company, a leader in cloud-based security and zero trust network access, aiming to drive profitable growth.

Protego Trust Bank, a cryptocurrency custody firm awaiting final approval to become a nationally chartered trust bank, has laid off more than half of its workforce in early March 2023 due to financial difficulties. The company, which operates in the crypto and financial services industry, was unable to secure fresh funding amid the ongoing crypto bear market, forcing it to terminate most employees. While dozens remain involved and operations are ready to launch, capital constraints have stalled progress. Protego, which raised $70 million in a 2021 Series A round from investors like Coinbase Ventures and FTX, is a mid-sized firm with its charter application pending beyond the 18-month deadline, highlighting the challenges in the regulated crypto banking sector.

Color Health laid off 300 employees on 2023-03-01.

In March 2023, global software consultancy Thoughtworks laid off approximately 500 employees, representing about 4% of its global workforce of over 12,500. The company, headquartered in Chicago and operating across 18 countries, cited the need to support future business growth amid a broader economic slowdown affecting the tech industry. Despite reporting strong quarterly revenue growth and a return to profitability, Thoughtworks made the difficult decision to reduce staff, with notifications beginning in late February and continuing into early March. The layoffs were implemented globally but notably excluded its workforce in India.

Sonder laid off 100 employees representing approximately 14% of its workforce on 2023-03-01.

Waymo laid off 209 employees representing approximately 8% of its workforce on 2023-03-01.

Eventbrite laid off 80 employees representing approximately 8% of its workforce on 2023-02-28.

In December 2022, Ezoic, an advertising technology firm, was rocked by an internal fraud scheme when a sales employee, Tyler Mancuso, exploited the company's systems to reroute a $9 million payment from Google into his personal bank account. He attempted to use the stolen funds to purchase gold bars but was arrested by the FBI. The heist occurred during a period of ad market slump and widespread tech layoffs, leaving Ezoic with a significant financial shortfall at a critical time of year. While the article does not specify the total number of employees or the exact scale of the company, the incident highlights severe security vulnerabilities within the adtech industry, which handles billions in digital advertising dollars.

MeridianLink, a financial technology (fintech) company, announced on February 28, 2023, a workforce reduction affecting approximately 9% of its employees. This decision, communicated by CEO Nicolaas Vlok, is part of a restructuring effort to consolidate functions, flatten the organizational structure, and improve efficiencies to better support long-term growth and customer service. The layoffs were attributed to the need to solidify the company's foundation amid macroeconomic challenges and to prioritize customer-centric investments. Impacted employees were offered severance packages, benefit continuation, and career support.

Electronic Arts laid off 200 employees on 2023-02-28.

Stytch laid off 19 employees representing approximately 25% of its workforce on 2023-02-27.

Mental-health startup Cerebral is laying off 285 employees, representing 15% of its workforce, as announced on February 27, 2023. This marks the company's third round of staff reductions in less than a year, following previous cuts in mid-2022 and October. CEO Dr. David Mou stated the layoffs are necessary to maintain a sustainable business and refocus on core patient services. The company, which provides telehealth for conditions like anxiety and depression, has faced significant turmoil, including federal investigations into its prescription practices for controlled substances like Adderall. These challenges have forced Cerebral to restructure in an effort to stay afloat after a period of rapid growth.

Fintech firm Amount laid off approximately a quarter of its workforce in February 2023, affecting a significant portion of its staff amid broader challenges in the banking and finance technology sector. While the exact number of employees impacted wasn't specified, the reduction reflects strategic adjustments within the company. The layoffs occurred as the industry faced economic headwinds, leading many firms to streamline operations to ensure long-term sustainability.

Palantir, the data analytics software company known for its government and defense work, is laying off approximately 75 employees, representing about 2% of its workforce of 3,838. The company confirmed the cuts on Monday, stating it was a tough but necessary choice to reduce teams in several areas as it reaches an inflection point and aims to continue evolving. This move follows Palantir's recent report of its first profitable quarter and an 18% revenue increase, yet it aligns with a broader wave of layoffs across the tech industry as companies adjust after a period of rapid growth. Despite the reductions, Palantir plans to continue hiring in strategically important areas.

Outreach laid off 70 employees representing approximately 7% of its workforce on 2023-02-27.

Twitter laid off 200 employees representing approximately 10% of its workforce on 2023-02-25.

Poshmark, a secondhand fashion marketplace based in Redwood City, California, laid off less than 2% of its workforce in late February 2023, just two months after its $1.2 billion acquisition by South Korean internet giant Naver. The cuts primarily affected U.S. employees within the company, which had over 800 staff. The layoffs were attributed to the broader economic slowdown and the company's strategic realignment as it returned to being a private entity. This move reflects a wider trend of cost-cutting and downsizing across the tech and e-commerce sectors during the economic downturn.

EQRx, a biotechnology company focused on reimagining drug pricing, is laying off 18% of its workforce as part of a restructuring effort to conserve cash and improve operational efficiency. The cuts, approved by the board on February 24, 2023, will reduce the company's headcount to about 300 employees. This move follows a strategic shift after the FDA requested additional trial data for its lead cancer drug, leading EQRx to abandon U.S. approval plans. The biotech industry is facing market turbulence and tighter financing, prompting similar workforce reductions across the sector. EQRx aims to lower operating expenses and extend its financial runway into 2028 with approximately $1.4 billion in cash.

Eat Just laid off 40 employees on 2023-02-24.

Velodyne Lidar, a San Jose-based provider of laser-based lidar technology for autonomous vehicles and other applications, laid off 220 employees in February 2023. These job cuts were part of a broader wave of nearly 600 Bay Area reductions announced by tech and life science firms at the time. The layoffs at Velodyne followed its recent merger with another lidar company, Ouster, as the combined entity streamlined operations. This move reflected ongoing consolidation and cost-cutting pressures within the competitive lidar and automotive technology industry.

Stax laid off 24 employees on 2023-02-24.

EVgo laid off 40 employees on 2023-02-23.

On February 23, 2023, StrongDM, a cybersecurity company specializing in Universal Privileged Access Authorization (UPAA), laid off 40 employees. The layoffs were a result of strategic growth missteps and the need to refocus the company's product and revenue strategy amid broader economic challenges affecting the tech sector. CEO Tim Prendergast stated that cost optimizations, including vendor reviews, were insufficient, as employee compensation was the largest expense, necessitating a team restructuring. The company, which serves clients ranging from Fortune 100 companies to startups, is focusing on its long-term plan to revolutionize traditional Privileged Access Management (PAM).

Vibrent Health representing approximately 13% of its workforce on 2023-02-23.

Crypto intelligence firm Messari laid off 15% of its global workforce in February 2023 as part of a restructuring effort to navigate challenging market conditions. The company, led by CEO Ryan Selkis, cited market headwinds in the broader crypto and tech sectors as the reason for this difficult decision, which followed a $35 million Series B funding round the previous year. Messari stated the move was a long-term realignment to better serve customer data needs and that it still planned to hire for open roles. This made Messari another prominent crypto company, alongside firms like Coinbase and Polygon Labs, implementing job cuts during the ongoing crypto winter.

Locomation representing approximately 100% of its workforce on 2023-02-22.

Arch Oncology on 2023-02-22.

Jounce Therapeutics, a clinical-stage biotechnology company focused on cancer immunotherapies, announced a significant restructuring on February 22, 2023, reducing its workforce by approximately 57 percent. This difficult decision stems from the company's assessment that its key clinical programs, JTX-8064 and vopratelimab, require more funding and a broader scope than Jounce can pursue independently. While data from the SELECT and INNATE trials showed promise, it was not sufficient for the company to advance the programs alone. Jounce will now seek business development opportunities to potentially continue this work. The restructuring, to be substantially completed by March 31, 2023, will result in a non-recurring charge of about $11.2 million.

TaskUs, a business process outsourcing (BPO) company, has laid off approximately 3% of its global workforce, affecting around 300 employees out of a total of about 10,000. The layoffs, which occurred in early 2023, are part of a strategic restructuring effort to improve operational efficiency and align resources with evolving client demands in the competitive technology and customer service support industry. As a publicly traded company, TaskUs aims to streamline its operations amidst shifting market conditions.

Basis Technologies, a provider of cloud-based workflow automation and business intelligence for the ad-tech industry, laid off approximately 40 employees, representing about 4% of its workforce, in a restructuring move around early February 2023. The layoffs primarily affected sales and service groups, including several senior team members. The company, which recently integrated programmatic guaranteed buying into its platform, cited restructuring as the reason, reflecting broader challenges in the technology and advertising sectors.

Ethos Life laid off 50 employees on 2023-02-21.

In February 2023, ride-hailing platform Bolt laid off 17 employees from its Nigerian operations as part of a restructuring effort to improve operational processes in the country. This reduction affected 24% of its 70-person workforce in Nigeria, primarily impacting junior and mid-senior staff. The layoffs occurred despite Bolt's recent announcement of global hiring plans and a significant investment initiative in Africa. Affected employees received severance packages based on tenure, along with additional support such as extended health insurance and career coaching. This move highlights the strategic adjustments within the competitive ride-hailing industry, even as the company, valued at $8.4 billion, continues to expand its global footprint.

PeerStreet on 2023-02-21.

Digital assets infrastructure unicorn Fireblocks is laying off 30 employees, representing 5% of its workforce, as part of a small restructuring to optimize for its next wave of growth. The company, which had raised $550 million at an $8 billion valuation in early 2022, announced the layoffs in February 2023. This marks its first workforce reduction since the tech downturn began. Despite the challenging crypto market, Fireblocks had recently reported surpassing $100 million in annual recurring revenue. The layoffs, affecting about half of its Israeli staff, are intended to better position the company to serve new verticals and meet business objectives in the coming year.

HP is laying off approximately 100 employees in Israel as part of broader workforce reductions, impacting its local workforce of about 2,600. The layoffs, announced in February 2023, primarily affect HP Indigo, the company's largest division in Israel focused on digital printing press manufacturing, with additional cuts in marketing and local headquarters operations. This move reflects ongoing adjustments within the technology and printing industry, as HP, a global tech giant, streamlines its operations amid market challenges.