Layoff Events

Aakash Educational Services Limited (AESL), owned by Byju's, has laid off approximately 80 to 100 employees over the past couple of months, including senior and middle-level executives, with some long-tenured staff affected. This marks the first layoffs since Byju's acquired the company in 2021. The company cites its biannual performance review cycle and a strategic shift under "Aakash 2.0," which involves restructuring roles and new hiring, aiming to be a net hirer by year-end. Operating in the edtech and test-prep industry, Aakash continues to function independently under the Think and Learn brand following a withdrawn merger, with expectations of strong revenue growth.

IBM has initiated significant layoffs this week, reportedly affecting thousands of employees, particularly in its Cloud division, with efforts to keep the process discreet. While IBM has not disclosed exact figures, the company referenced a "workforce rebalancing" charge of $400 million in early 2024, which could translate to around 5,200 job cuts based on prior patterns. With approximately 288,000 global employees, this represents a low single-digit percentage reduction. The layoffs primarily target senior-level roles in programming, sales, and support, with many positions being relocated to India as part of cost-saving measures. This move aligns with IBM's ongoing strategy to shift jobs offshore and integrate AI, following earlier announcements of replacing thousands of roles with automation. The tech giant's actions reflect broader industry trends of restructuring amid economic pressures and technological advancements.

Spendesk laid off 151 employees on 2024-09-18.

Runtastic, the Austrian fitness app developer acquired by Adidas in 2015 for €220 million, has officially been shut down by its parent company. This follows earlier restructuring, including the elimination of 70 positions last year and the discontinuation of the "Adidas Training" app. The closure marks the end of the once-popular running app that helped popularize the startup concept locally, with its brand name recently removed from the corporate identity. The shutdown occurred in the sports technology industry, reflecting Adidas's strategic consolidation.

Amperity representing approximately 13% of its workforce on 2024-09-12.

Microsoft laid off 650 employees from its gaming division on September 12, 2024, as part of ongoing restructuring following its $69 billion acquisition of Activision Blizzard. Xbox chief Phil Spencer stated the cuts primarily affect corporate and support functions, aiming to align the business for long-term success. He clarified that no games, studios, or devices were canceled. This brings the total gaming workforce reductions since the acquisition to 2,550. The layoffs reflect broader consolidation in the video game industry, with Microsoft, a tech giant, streamlining operations to integrate the massive acquisition while supporting affected staff with severance and transition services.

Microsoft laid off 650 employees from its Xbox division.

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Nori representing approximately 100% of its workforce on 2024-09-09.

Mobileye, an Intel-owned autonomous vehicle technology company, is laying off approximately 100 employees as it shuts down its internal lidar sensor development division in September 2024. This move, affecting a small percentage of its global workforce, aims to save an estimated $60 million in projected development costs. The decision reflects a strategic shift, as the company now believes next-generation lidar is less critical to its roadmap for "eyes-off" autonomous systems, citing significant advancements in its camera-based computer vision technology and the declining cost and strategic necessity of lidar sensors in the industry.

In September 2024, Italy-based app company Bending Spoons, which acquired the Dutch file-transfer service WeTransfer in July, announced plans to lay off approximately 75% of WeTransfer's staff. With over 350 employees reported at WeTransfer, this restructuring could affect more than 260 people. The decision is part of Bending Spoons' typical post-acquisition strategy to create a "smaller, more sharply focused" organization aimed at long-term profitability and operational efficiency. The layoffs, pending compliance with local regulations across different countries, reflect the tech industry's ongoing consolidation and restructuring trends, as seen in Bending Spoons' previous cuts at Evernote.

Center laid off 8 employees representing approximately 4% of its workforce on 2024-09-07.

Gwyneth Paltrow's lifestyle brand Goop is laying off 39 employees, representing 18% of its 216-person workforce, as reported in early September 2024. The company is undergoing a strategic refocus, shifting its efforts toward its core beauty, fashion, and food ventures—including Goop Beauty, Good Clean Goop, the G. Label clothing line, and Goop Kitchen restaurants. This pivot means moving away from previous categories like wellness, home, travel, and sexual wellness. The layoffs are part of an organizational restructuring as the brand, which began as a newsletter in 2008 and grew into a multifaceted media and e-commerce empire, continues to refine its business model in the competitive consumer goods and retail industry.

Motif FoodWorks, a Boston-based foodtech company in the alternative protein industry, is shutting down, resulting in layoffs for most of its employees, with only a skeleton crew remaining to wind down operations. The closure follows a challenging period marked by a costly intellectual property lawsuit with Impossible Foods, which disrupted commercial partnerships and progress despite the company having secured deals and purchase orders. Initially spun off from Ginkgo Bioworks in 2019, Motif raised $345 million, including a $226 million Series B in 2021, but struggled amid declining investor sentiment and retail sales in the alt-meat sector. The resolution of the lawsuit, with both parties covering their own costs, coincided with the shutdown announcement. As a high-profile startup that operated with a corporate mentality, Motif's downfall highlights the intense pressures in the foodtech space.

Lyft is laying off approximately 30 employees, representing about 1% of its workforce of nearly 3,000, as part of a restructuring effort to cut costs. The ride-sharing company announced this move in late 2024, alongside discontinuing its standalone dockless bikes and scooters in certain U.S. cities. This decision follows intense competition from rivals like Uber and a forecast of weak quarterly performance. The restructuring, which includes renaming the division to "Lyft Urban Solutions," aims to save costs and boost adjusted operating income by about $20 million annually by the end of 2025.

ChargePoint laid off 250 employees representing approximately 15% of its workforce on 2024-09-04.

On September 3, 2024, Matter Labs, the creator of the Ethereum layer-2 scaling solution ZKsync, announced a company restructuring that included laying off 16% of its workforce. The decision was driven by the company's evolving role within the increasingly decentralized ZKsync ecosystem, particularly following the launch of the Elastic Chain and ZK Nation. CEO Alex Gluchowski stated that the restructuring aims to align the team with the needs of a rapidly changing market, emphasizing that Matter Labs has historically thrived with a leaner structure. All affected employees were offered severance packages. This move comes after the company faced industry backlash earlier in the year for attempting to trademark the term "zero-knowledge," which it later withdrew.

ABL Space Systems conducted layoffs in late August 2024 following a pad fire that destroyed its second RS1 rocket in July, compounding a previous launch failure in January 2023. CEO Harry O'Hanley cited overexpansion after a $370 million Series B in 2021 and consecutive mission setbacks as reasons for the workforce reduction. While the exact number and percentage of employees affected were not disclosed, the company, which has raised over $460 million since 2017, is now refocusing on a leaner team to upgrade its rocket and ground systems amid a tighter funding environment in the space industry.

Healthtech startup Dozee laid off approximately 40-50 employees last month as part of a restructuring effort to reduce losses, impacting teams including on-field operations, customer success, sales, and marketing. With a total workforce of about 250-270 prior to the layoffs, this represents a reduction of roughly 15-20%. The company, backed by Prime Venture Partners and founded in 2015, attributed the move to a strategic reallocation of resources toward HealthAI, clinical research, and international expansion, though sources cited tepid revenue growth and mounting losses as key drivers. Despite Dozee's official statement downplaying the scale as a "very miniscule" change, the layoffs reflect broader challenges in the healthtech sector as startups strive for financial sustainability.

Dunzo, a hyperlocal delivery startup, has laid off 150 employees, reducing its workforce to just 50 across supply and marketplace teams. This drastic cut, representing a significant portion of its staff, stems from severe financial difficulties as the company struggles to secure new funding. Reporting a massive loss of INR 1,801 crore in FY23, Dunzo faces delayed salary payments, vendor dues, and legal insolvency applications. Amid leadership changes and investor exits, the Bengaluru-based company is pivoting toward B2B operations while desperately seeking capital to survive.

Brave, the web browser and search startup, has laid off 27 employees, which represents approximately 14% of its estimated workforce of 191. This round of job cuts, confirmed in late August 2024, follows a previous reduction of 9% in October 2023, which the company attributed to cost management in a challenging economic environment. While Brave has not specified the exact reasons for the latest layoffs, the company has been actively shifting its focus toward AI, launching its Leo AI assistant across platforms and introducing premium subscriptions. The tech industry has seen widespread restructuring, and these cuts may reflect ongoing efforts to balance innovation with financial sustainability amid the costs of developing new AI features.

Apple is conducting layoffs affecting around 100 employees in its digital services group, primarily impacting teams working on the Apple Books app and Apple News, indicating a shift away from investment in these areas.

Apple laid off 100 employees on 2024-08-27.

Tome Biosciences, a genetic medicines startup in the biotechnology industry, is laying off 131 employees, which represents essentially its entire workforce of about 130 people. The layoffs, announced via a regulatory notice in late August 2024, are a result of severe funding challenges. The company, which launched publicly in December 2023 with $213 million in funding, has been unable to secure a new financing round amid a tough investment climate for preclinical gene-editing firms. This has forced Tome to scale back operations drastically while it explores strategic options.

Velo3D, a 3D printing technology company, is laying off 42 employees at its Fremont, California location, with the cuts scheduled for October 8, 2024. This action is part of a broader wave of job reductions in the Bay Area's tech and biotech sectors, where several companies have recently announced hundreds of layoffs. While the exact percentage of Velo3D's workforce affected is not specified in the report, the layoffs are permanent and contribute to the ongoing trend of restructuring within the advanced manufacturing and tech industry, as companies navigate economic pressures and strategic shifts.

IBM laid off 1,000 employees on 2024-08-26.

Received representing approximately 100% of its workforce on 2024-08-23.

Kenko Health, a healthtech startup backed by Peak XV Partners and BEENEXT, has ceased operations due to a severe cash crunch and its inability to secure an insurance license from IRDAI. The company, which had raised over $13.7 million since its 2019 founding, informed employees in late June that it had exhausted funds and faced legal action from a debt investor at the NCLT. This led to the closure of its offices in Bengaluru and Mumbai and rendered its communication channels unresponsive. The shutdown followed internal disputes over equity dilution with a potential new investor, which was intended to help obtain the necessary license, ultimately derailing the company's transition to a full insurtech model.

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Redfin, the Seattle-based real estate brokerage, has laid off 82 employees this week, representing less than 2% of its workforce of approximately 4,700. The targeted cuts primarily affect the company's Concierge service, support staff, and sales managers, as Redfin continues to navigate a challenging housing market and shifts its business model. The company reported a net loss of nearly $28 million in the second quarter and is decentralizing its Concierge offering while transitioning more agents to a commission-based pay structure, reducing the need for managerial support. Some affected staff may be offered positions as agents.

Furniture resale platform Kaiyo is abruptly winding down operations as of August 2024, effectively shutting down the company and resulting in layoffs for its entire workforce. The closure has left many sellers without payment for their items, highlighting significant operational and financial challenges. Operating in the online retail and sustainable furniture industry, Kaiyo was a venture-backed startup that aimed to facilitate the buying and selling of pre-owned home furnishings. The sudden shutdown underscores the difficulties faced by direct-to-consumer brands in the competitive resale market.

Five9, a San Ramon, California-based provider of contact center software, is laying off approximately 7% of its workforce, affecting fewer than 200 employees. The company, which had 2,684 full-time employees as of December 31, announced the difficult decision in August 2024 as part of a broader effort to drive profitable growth and improve margins. This restructuring follows a reduction in the company's 2024 revenue guidance and aims to manage expenses, with expected severance and related costs between $12 million and $15 million. The move is seen as a strategic step to increase shareholder value while the company continues to focus on its channel partnerships and investments in AI-driven contact center solutions.

Skip the Dishes, along with its parent company Just Eat Takeaway.com, is laying off approximately 800 employees in Canada. This includes about 100 workers directly from Skip the Dishes and around 700 operations staff from the parent company. Announced by CEO Paul Burns on August 20, 2024, the decision is part of a restructuring effort aimed at ensuring the right resources and organizational structure for sustainable growth in the competitive food delivery industry. The layoffs reflect ongoing challenges as the sector adjusts post-pandemic, with companies streamlining operations to focus on efficiency and long-term viability.

ReshaMandi, a Bengaluru-based agri-tech startup backed by investors like Creation Investments, has laid off its entire workforce amid a severe financial crisis. The company, which had raised over $50 million, is struggling with liabilities, unpaid salaries, and operational costs, leading to a complete shutdown of its website and the resignation of its auditor. This follows corporate governance issues, including allegations of revenue inflation and fake invoices. The layoffs, reported in August 2024, mark a dramatic collapse for the firm, which had previously scaled operations in the textile and silk supply chain industry.

GoPro laid off 139 employees representing approximately 15% of its workforce on 2024-08-19.

General Motors is cutting around 1,000 software workers globally to focus on high-priority initiatives like improving its Super Cruise driver assistance system, infotainment quality, and AI. The layoffs aim to help the company move more quickly in the software-defined vehicle market, following recent software problems and leadership changes.

Israeli proptech startup Localize, a sister company of Madlan, is shutting down its U.S. operations due to a severe crisis in the American real estate market. The closure, announced on August 19, 2024, results in layoffs for its entire U.S. team, though the exact number of affected employees is not specified. The company, which had raised about $70 million, cited a significant two-year decline in real estate transaction volumes, driven by high interest rates and regulatory changes, as the primary reason for the painful decision. While Localize's activities in the U.S. cease, Madlan's operations in Israel will continue unaffected.

Regrow Ag, an agricultural technology company, has laid off 19% of its workforce following a strategic restructuring to sharpen its focus on core business operations. The decision, announced by CEO Anastasia Volkova, was described as difficult but necessary to position the company for future growth in transforming the food system and enhancing agricultural resilience. While the exact number of affected employees was not specified, the layoffs reflect broader challenges in the AgTech sector. The company emphasized that the move was not performance-related and expressed gratitude for the contributions of departing team members, offering support for their transition.

Loop, a company in the e-commerce and customer retention industry, has undergone a strategic shift, leading to layoffs of an unspecified number of employees, referred to as "Loopers." This restructuring coincides with a leadership change, as CEO Jonathan Poma stepped down and transitioned to an Executive Director role, appointing Hannah Bravo as the new CEO. The layoffs and leadership transition are part of a broader realignment of company priorities and goals for the coming years. Loop serves over 4,000 merchants, indicating it operates at a significant scale within its sector. The announcement was made in a LinkedIn post by Poma, though the exact date of the layoffs and precise figures regarding the workforce reduction were not disclosed.

Montréal-based EdTech startup Paper conducted its fourth and deepest round of layoffs within a year in late July 2024, cutting 45% of its approximately 180 head office employees. This followed the appointment of EdTech veteran Rich Yang as interim CEO, replacing co-founder Phil Cutler. The company later laid off its entire Canadian tutor workforce, affecting hundreds, as part of a strategic shift to focus on the US market to rebuild operations and improve its financial situation. Founded in 2014, Paper provides online tutoring and faced criticism over tutor-to-student ratios despite growth during the pandemic.

German online eyewear retailer Mister Spex is laying off approximately 130 employees, representing about 10% of its total workforce of 1,300, as part of a major restructuring program called "SpexFocus" approved in mid-August 2024. The plan, aimed at significantly improving profitability and cash flow, also involves closing all eight of its international physical stores. This decisive move follows disappointing financial results, including a €9.3 million loss in Q1 2024, a steep 89% decline in its share price since its 2021 IPO, and reported internal disagreements among shareholders and supervisory board members. The company, operating in the eyewear/e-commerce industry, expects these measures to boost its EBITDA by over €20 million in 2025 and 2026.

Formlabs, a leading hardware 3D printing company, has confirmed a "small number" of layoffs, affecting fewer than 40 employees out of a total workforce of just under 750. These staff reductions, amounting to roughly 5% of its employees, occurred in waves over the past two years, with the most recent taking place in the weeks leading up to August 2024. The company stated the layoffs were a difficult but necessary decision to part ways with colleagues in departments that were below efficiency goals or where roles were no longer aligned, even as it continues to hire in other areas and invest heavily in research and development. As an MIT spinoff and a stalwart in the additive manufacturing industry, Formlabs has navigated broader market challenges while expanding its technology portfolio and maintaining a focus on specialized applications like medical and dental products.

PacketFabric, a provider of Network as a Service solutions, recently implemented strategic changes to its team as part of an effort to enhance operational efficiency. While the company did not disclose the specific number of employees affected, these layoffs were a difficult decision aimed at optimizing operations to better serve customers. The company, which operates in the cloud networking and telecommunications industry, emphasized that it remains strong and resilient, continuing to focus on innovation and delivering high-value, scalable network connectivity services.

Toronto-based digital product sampling startup Sampler has filed for bankruptcy, effectively ceasing operations and resulting in the layoff of its entire workforce. The company, which had grown to operate in 23 countries, filed an assignment of bankruptcy on June 27, 2024, after accumulating nearly $13 million in liabilities against assets of just over $300,000. This collapse in the marketing technology and startup industry follows a period of rapid growth and acquisitions, despite the company reporting over $10 million in annual revenue and aiming for profitability last year. The bankruptcy proceedings mark the end of an 11-year journey for the venture-backed firm, which had raised a total of $13 million CAD.

Israeli chip company Inuitive, which specializes in 3D imaging for robotics, drones, and AR/VR, has laid off approximately 20% of its workforce, affecting about 16 of its 80 employees. The layoffs coincide with the retirement of CEO and co-founder Shlomo Gadot, who stepped down in August 2024, reportedly due to reaching retirement age. Co-founder Dor Zepeniuk has been appointed as the new CEO to ensure continuity. The fabless semiconductor startup, founded in 2012 and having raised around $200 million, is navigating these changes amid broader industry challenges.

Sonos, the audio technology company, laid off approximately 100 employees on August 14, 2024, representing about 6 percent of its workforce. The cuts, which affected various departments including marketing, product engineering, and software quality, are part of a restructuring effort to prioritize investment in the company's product roadmap and ensure long-term success. This move comes despite CEO Patrick Spence's recent pledge to focus on resolving the ongoing app crisis, which has significantly impacted the brand's reputation. The layoffs follow a previous reduction of 7 percent in June 2023, reflecting ongoing challenges in the competitive consumer electronics industry.

Quizac, an African edtech startup, is shutting down in August 2024, resulting in the layoff of its entire team. The company, which built a gamified learning platform for children, had gained traction with over 12,000 learners at its peak. The shutdown follows a challenging journey where the founders previously turned down a $250,000 investment offer. Operating in the competitive edtech industry, Quizac struggled to achieve sustainable growth despite addressing significant educational gaps in Sub-Saharan Africa. The closure highlights the difficulties faced by early-stage startups in securing long-term viability, even with innovative products.

Israeli healthtech startup DayTwo has permanently shut down, resulting in layoffs for its remaining few dozen employees. At its peak, the company, which specialized in personalized nutrition kits for diabetics, employed hundreds. The closure follows a significant downsizing about a year ago and comes after the company raised $85 million but ultimately failed to navigate market challenges. The shutdown was announced to staff in August 2024.

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Fintech company Tally, which was backed by Andreessen Horowitz and last valued at $855 million, is shutting down entirely after running out of cash, resulting in layoffs for its entire workforce of 183 employees. The closure was announced by the CEO on August 12, 2024, following an unsuccessful search for new funding. The nine-year-old San Francisco-based startup, which had raised $172 million, initially helped consumers manage credit card debt but had recently pivoted to a B2B model. This shutdown represents a 100% reduction in staff for the fintech industry firm, marking the end of its operations.