Layoff Events

Coursera laid off 150 employees representing approximately 10% of its workforce on 2024-10-25.

In October 2024, rental car startup Kyte underwent a major restructuring to ensure its survival, cutting its workforce by 40% to 50% and drastically scaling back operations. The company, which had rapidly expanded to over a dozen U.S. markets, is now retreating to focus solely on its two strongest markets: San Francisco and New York City. This decision came after the company explored a sale and faced challenges with unit economics and generating free cash flow in a capital-constrained environment. The layoffs heavily impacted engineering, consumer, and growth teams as Kyte aims to reach profitability within the next 18 months.

Airthings, a Norwegian company specializing in indoor air quality monitoring devices, conducted a layoff affecting approximately 30% of its workforce in late 2022. This reduction impacted around 45 employees as part of a strategic restructuring plan aimed at extending the company's financial runway and achieving profitability. The decision was driven by challenging market conditions, including a slowdown in the smart home and consumer electronics sectors. Airthings, which had scaled significantly during the pandemic, adjusted its operations to navigate the post-pandemic economic environment and focus on sustainable growth.

Catena Media, a company in the online marketing and affiliate industry, laid off 29 employees from its content production and marketing teams on October 23, 2024, with the cuts effective from November 1. This represents a streamlining effort as part of the company's transition to a "leaner, product-led organisation," aiming to flatten its structure and align more closely with product development goals. The layoffs, which will result in annual savings of approximately €2.2 million, were announced alongside preliminary Q3 2024 results showing a revenue decline. Severance costs for the affected employees are estimated at around €400,000. The move is part of a broader strategy to focus on core flagship products and diversify revenue streams amid financial restructuring.

Upwork, a global freelance marketplace, announced on October 23, 2024, a significant workforce reduction as part of organizational changes aimed at driving profitable growth. The company is laying off 21% of its employees, which translates to approximately 300 people based on its total workforce of around 1,400. This move is expected to generate about $60 million in annual cost savings, advancing Upwork toward its five-year profitability target. The restructuring focuses on streamlining operations, optimizing R&D spending, and sharpening its Enterprise strategy to increase efficiency and accelerate innovation in the competitive hiring and staffing industry.

Jellysmack laid off 22 employees on 2024-10-21.

Venminder laid off 100 employees on 2024-10-21.

Chief, a networking organization for executive women valued at $1.1 billion, has conducted layoffs primarily affecting technology and administrative roles as part of a restructuring effort announced in October 2024. The move aims to provide the company with "more agility" and balance growth with profitability, according to a spokesperson. While the exact number of employees impacted was not disclosed, this follows a previous round in April 2023 when Chief laid off 14% of its staff amid a challenging economic climate. The company, which describes itself as the nation's largest network for senior executive women, recently refocused on its U.S. operations after closing its London office, and is now concentrating on enhancing member experiences like executive coaching and education programs.

Meta laid off employees across multiple teams, including Reality Labs, Instagram, and WhatsApp, on Wednesday as part of a reorganization to reallocate resources and align with long-term strategic goals. The company did not disclose the number of affected employees, but some were offered new positions or severance packages.

In October 2024, Y Combinator-backed fintech startup CapWay, which focused on providing financial services and literacy to underserved communities in banking deserts, was officially shut down by its founder Sheena Allen. The company, which had raised just under $800,000 from investors like Backstage Capital and Khosla Ventures, began winding down operations in 2023 after a potential acquisition fell through. Allen cited a challenging fintech environment, including reputational damage from industry incidents like the Synapse collapse and the Evolve Bank hack, which made securing banking partnerships difficult. While the exact number of employees laid off was not specified, the closure resulted in the full team being let go as the company ceased operations, ending its mission launched in 2016 to promote financial inclusion.

Meta has initiated a new round of layoffs affecting employees across key divisions like WhatsApp, Instagram, and Reality Labs, as part of ongoing reorganizations to align resources with long-term strategic goals. While the exact number of employees impacted in this specific round is not disclosed, these cuts follow a broader trend at the company, which previously laid off 11,000 employees in 2022 and an additional 10,000 in 2023 as part of CEO Mark Zuckerberg's declared "year of efficiency." The tech giant, operating in the social media and technology industry, continues to adjust its workforce in response to post-pandemic growth reassessments and strategic realignments, with these latest reductions occurring in October 2024.

Fable representing approximately 100% of its workforce on 2024-10-15.

Gigamon, a network visibility and security solutions provider, has conducted a round of layoffs affecting an unspecified number of employees. The exact scale of the workforce reduction, including the total number of employees impacted or the percentage of the workforce, has not been publicly disclosed. The company, operating in the cybersecurity and networking industry, has not provided a specific reason or context for the layoffs, nor has it confirmed an official date for the action. As a private company, its overall scale and employee count are not widely reported. The layoffs were communicated internally, and the company has stated it is offering support to affected employees during the transition.

Toplyne, a startup in the technology and sales enablement industry, has ceased operations after 3.5 years, resulting in layoffs for its entire 30-person team. The company's founders announced the wind-down, citing an inability to achieve the necessary scale or product-market fit despite their efforts. Their current focus is on assisting the displaced employees in finding new roles and ensuring a smooth transition for their customers. The closure effectively represents a 100% reduction in staff, with the decision made public in a recent announcement.

Nikola laid off 130 employees representing approximately 15% of its workforce on 2024-10-11.

ByteDance's TikTok is laying off hundreds of employees, mainly in Malaysia, with less than 500 people affected, as the company shifts towards AI for content moderation to strengthen its global operating model.

Bytedance laid off 500 employees on 2024-10-11.

CareerBuilder + Monster laid off 200 employees representing approximately 15% of its workforce on 2024-10-10.

Toptal on 2024-10-10.

GoWild representing approximately 100% of its workforce on 2024-10-10.

Grabango, a venture-backed startup in the cashierless checkout technology industry, is permanently shutting down after failing to secure necessary financing. The company, which employed around 100 people, made the difficult decision to close its doors, discontinuing operations that had established it as a key competitor to Amazon's Just Walk Out system. Based in Berkeley, California, Grabango had raised over $73 million and partnered with major retailers like Aldi, Giant Eagle, 7-Eleven, and Circle K. Despite its innovative use of computer vision and machine learning for checkout-free shopping, the challenging funding environment, particularly for non-AI startups, left it unable to continue. The closure was announced in a statement to CNBC, marking the end of its operations after launching in 2016.

Bengaluru-based used two-wheeler marketplace BeepKart has laid off approximately 130 employees over the past five months, representing about 40% of its workforce, as part of a significant cost-cutting initiative. The startup, which operates in the e-commerce and automotive industry, conducted three rounds of layoffs, with the latest in late September affecting 60-70 staff. Facing a funding crunch, heightened competition, and rising operational expenses, BeepKart also halved its physical presence by closing six of its 11 stores in Bengaluru and Chennai. The company, backed by investors like Vertex Ventures and Stellaris Venture Partners, had expanded aggressively but struggled to scale profitably, leading to this restructuring to conserve cash.

In 2023, London-based rapid grocery delivery startup Zapp dramatically reduced its workforce as part of major cost-cutting efforts. The average number of employees plummeted from 2,417 in 2022 to just 260 in 2023, representing a layoff of approximately 2,157 staff, or about 89% of its workforce. This drastic reduction followed heavy losses in 2022, which led the company to withdraw from international markets like the Netherlands and France to focus solely on its core London operations. The job cuts, announced in 2022, affected head office roles as well as positions across stores and distribution centers. Despite the severe downsizing, Zapp reported a significant improvement in its 2023 financials, with pre-tax losses shrinking and revenue growing, as it shifted strategy to target affluent customers with higher-value orders.

Venture capital firm NFX laid off four employees in September 2024, including one product leader and three engineers, as part of a rebalancing effort to shift resources from its software and product teams to its investing team. The firm plans to use AI to maintain output with fewer people and intends to hire more investors, potentially increasing the overall team size.

Zapata Computing representing approximately 100% of its workforce on 2024-10-07.

PubMatic, a publicly traded adtech company, laid off approximately a dozen employees last week, representing about 1% of its workforce of nearly 950. The move is part of a strategic shift to streamline operations and concentrate resources on high-growth areas like connected-TV advertising, supply path optimization, and commerce media. Despite the layoffs, the company plans to increase its overall headcount by around 15% this year, citing over 50 open positions. This restructuring follows recent financial challenges, including a revised revenue forecast after a key demand-side platform partner changed its bidding practices.

Eaze, a cannabis delivery platform, laid off approximately 30 employees in early 2024, representing around 10% of its workforce. The company cited a strategic restructuring aimed at improving operational efficiency and adapting to a challenging market environment. This move reflects broader pressures within the cannabis industry, where companies are navigating regulatory hurdles and shifting consumer demands. Eaze, which operates at a mid-sized scale, continues to focus on its core delivery services while streamlining its operations for future growth.

Alma representing approximately 9% of its workforce on 2024-10-02.

Tome laid off 12 employees representing approximately 31% of its workforce on 2024-10-02.

Flexport representing approximately 2% of its workforce on 2024-10-02.

ABBYY laid off 200 employees on 2024-10-01.

FreshBooks laid off 140 employees on 2024-10-01.

DoubleCloud, a data infrastructure platform company, is winding down operations after failing to align its ambitious service goals and growth plans with available funding. While the exact number of layoffs and total employee count are not specified, the company's closure implies a full workforce reduction. The announcement was made in 2024, with new accounts halted from October 1, 2024, and a transition period for existing clients until March 1, 2025. Operating in the tech industry, DoubleCloud focused on open-source data solutions, offering services like Data Transfer and Data Visualization to help clients manage their data infrastructure efficiently. The company's scale is not detailed, but it served various clients until its operational wind-down.

Marin Software laid off 27 employees representing approximately 26% of its workforce on 2024-09-30.

Shein laid off 17 employees on 2024-09-30.

Agritech startup Greenikk, which was building a digital ecosystem around banana cultivation, has shut down operations. Founded in 2020 and backed by investors like 100Unicorns, the company faced insurmountable challenges including significant loan defaults through its NBFC arm, low revenues, mounting losses, and a failure to achieve product-market fit. Despite initial traction and a pivot from its loan-focused model, the startup was unable to scale beyond financial services and could not secure further investor interest to remain viable. This closure highlights the difficulties in the agritech sector, particularly for ventures aiming to serve specific agricultural value chains.

In September 2024, enterprise security compliance unicorn Drata laid off 40 employees, representing 9% of its workforce. The San Diego-based company, which automates compliance for frameworks like SOC 2 and GDPR, cited a refinement of its organizational structure to enhance operational efficiency and drive sustainable growth. This move comes despite the company reporting 100% year-on-year revenue growth and rapid customer acquisition earlier in 2024, having also expanded its headcount significantly and made its first acquisitions. Backed by over $300 million in funding and valued at $2 billion, Drata indicated this strategic adjustment is part of its course toward a potential future IPO.

Fintech startup Moov, backed by Andreessen Horowitz, has laid off approximately 50 employees. The company, which has raised $77.5 million from top-tier investors, is likely optimizing its runway amid a challenging funding environment. This move reflects broader industry pressures where later-stage startups are reducing burn rates to extend their financial sustainability, as many approach the typical two-year mark since their last funding round. The layoffs underscore the volatility in the fintech and payments sectors, where market conditions and inflationary pressures are prompting tough operational decisions.

Northvolt, a European battery startup, announced layoffs of 1,600 employees, representing about 20% of its workforce, as part of cost-cutting measures. The company cited lower-than-expected demand growth for electric vehicles and execution issues, including a canceled contract with BMW. The layoffs were accompanied by halting factory expansions in Sweden.

Epic Games announced on Tuesday, September 24, 2024, that it would cut more than 1,000 jobs as a result of declining engagement for its flagship title Fortnite and broader economic challenges. The layoffs are part of cost-cutting measures aimed at stabilizing the company, with CEO Tim Sweeney citing extreme market conditions and difficulties in delivering consistent content. This marks the second major round of layoffs for Epic Games in three years, following a previous cut of about 830 jobs in September 2023.

FreightWaves laid off 16 employees on 2024-09-24.

F5 on 2024-09-24.

Swedish battery manufacturer Northvolt announced plans on Monday to lay off approximately 1,600 employees, primarily in Sweden, as part of a major cost-cutting drive. This represents a reduction of about 20% of its global workforce and 25% of its staff in Sweden. The company, which had over 6,000 employees as of March, is refocusing its resources to accelerate core battery cell production at its Northvolt Ett gigafactory in Skellefteå, where 1,000 of the job cuts will occur. The decision follows a strategic review prompted by a challenging macroeconomic climate and leads to the suspension of a planned factory expansion. Northvolt, a key European supplier for automakers like Volkswagen and Volvo, stated the layoffs are subject to union negotiations as it aims to streamline operations in the competitive electric vehicle battery industry.

Olo representing approximately 9% of its workforce on 2024-09-23.

Notable Labs representing approximately 65% of its workforce on 2024-09-20.

In September 2024, Etsy-owned musical instrument marketplace Reverb conducted a round of layoffs, eliminating a little over 40 roles. This followed previous cuts, bringing total headcount close to its level at the time of Etsy's 2019 acquisition. The layoffs, impacting departments like product design and marketing, occurred amidst activist investor pressure on Etsy to make its "House of Brands" strategy profitable. The departure of Chief Product Officer Bradford Shellhammer shortly after fueled speculation about Reverb's future, which was realized in April 2025 when Etsy announced the divestiture of Reverb to Servco Pacific Inc and Creator Partners LLC.

Luminar representing approximately 15% of its workforce on 2024-09-20.

ApplyBoard representing approximately 4% of its workforce on 2024-09-19.

Qualcomm, a chipmaker for smartphones, announced layoffs of 226 workers in San Diego, effective the week of November 12, as part of a normal course of business to prioritize investments and align resources for diversification opportunities. This follows layoffs of over 1,250 workers less than a year earlier.

CarTrawler laid off 40 employees representing approximately 10% of its workforce on 2024-09-19.