Layoff Events

Sprinklr, a New York-headquartered enterprise customer experience management platform, laid off approximately 116 employees, representing about 3% of its global workforce of 3,869, in early May 2024. The company stated the cuts were part of a strategic realignment of its customer operations organization to improve go-to-market efficiencies and better serve clients, with notifications going out in markets including the U.S. and India. This follows a previous reduction of about 4% in February 2023. Despite the layoffs, Sprinklr recently reported strong quarterly revenue growth and a return to GAAP operating income, indicating the move is aimed at restructuring for future growth rather than financial distress.

In May 2024, lidar technology company Luminar announced a major restructuring, laying off approximately 140 employees, which represents 20% of its workforce. The company, which supplies sensors to automakers like Volvo, is shifting to a more asset-light business model to reduce costs and accelerate production scaling. This move includes outsourcing more lidar production to its exclusive manufacturing partner, TPK Holding, and reducing its global facility footprint. CEO Austin Russell cited challenging capital market perceptions and the need for a new cost structure, aiming to cut annual operating costs by $50–65 million while focusing on profitability and faster product commercialization.

Bakkt, a cryptocurrency trading platform, announced layoffs on Friday, cutting 28 employees, which represents approximately 13% of its non-call center, full-time workforce. The company, operating in the fintech and crypto industry, is undertaking this reduction as part of broader cost-cutting measures amid market challenges. This move follows a trend of workforce adjustments in the tech and crypto sectors, with Bakkt's shares rising slightly in response to the news. The layoffs highlight ongoing volatility and restructuring efforts within the digital asset space.

Peloton, the connected fitness equipment company, announced a significant restructuring on Thursday, which includes laying off approximately 400 employees, representing 15% of its global workforce. This move is part of a broader effort to realign the company's cost structure with its current revenue, as it reported disappointing fiscal third-quarter results that missed Wall Street expectations. The layoffs, alongside the departure of CEO Barry McCarthy, aim to reduce annual expenses by over $200 million by the end of fiscal 2025, with half the savings coming from payroll cuts. The hardest-hit departments include research and development, marketing, and international teams. This restructuring is intended to position Peloton for sustained positive cash flow while continuing to invest in innovation.

Cabify, the Spanish mobility and VTC company, laid off approximately twenty employees in Spain between January and April 2024. This move is part of an internal restructuring and team reorganization, described as a labor reordering that aligns with broader financial realignment efforts. The layoffs, while small in number, are linked to the company's strategic shift toward improving its EBITDA and operational metrics, as it prepares for a potential future IPO—a plan announced in 2023 but since postponed. Amidst these changes, Cabify has also secured significant funding and renegotiated debt, all while transitioning from its major shareholder Rakuten. The restructuring reflects a focus on financial sustainability and a revised compensation model emphasizing performance bonuses.

Assurance laid off 112 employees representing approximately 100% of its workforce on 2024-05-01.

Israeli insurtech startup Sproutt, which specialized in digital life insurance in the U.S., has declared insolvency and is heading for bankruptcy as of early May 2024. The company, which had raised $38 million and once reached a $200 million valuation, is unable to pay its debts, including $2.2 million to Bank Leumi and $740,000 to suppliers, while also owing unpaid employee salaries. Strategic missteps led to heavy expenses and estimated losses of about $33 million, as its subsidiary Aktibo failed to generate sufficient revenue to cover high marketing costs. The company's downfall marks a significant failure in the insurtech sector.

Google, the tech giant under parent company Alphabet, has laid off at least 200 employees from its critical "Core" organization, which handles the technical foundation and security for its flagship products. This move, confirmed in late April 2024, is part of a broader reorganization and cost-cutting strategy. The company is shifting these roles to lower-cost locations, specifically hiring corresponding positions in Mexico and India to operate closer to partners and developer communities. These layoffs, which included at least 50 engineering roles in Sunnyvale, California, continue a trend of downsizing that began in early 2023 when Alphabet cut 12,000 jobs, or 6% of its workforce. Despite a rebound in digital advertising, the company maintains its focus on restructuring and global workforce redistribution to optimize operations.

Peloton announced a new round of layoffs as part of a restructuring effort, coinciding with the CEO's resignation. The exact number of affected employees was not specified in the announcement.

In May 2024, ahead of its annual I/O developer conference, Google conducted layoffs affecting staff from key teams including Flutter, Dart, and Python, as part of broader organizational changes to streamline operations and align resources with major product priorities. While the exact number of employees impacted was not disclosed, the layoffs were described as targeted reorganizations rather than company-wide cuts, with affected individuals offered the opportunity to apply for other roles within the tech giant. Google emphasized these moves aim to reduce bureaucracy and focus investment on significant opportunities, maintaining that teams like Flutter and Dart remain committed to ongoing projects and updates.

Akili Interactive, a digital therapeutics company in the healthcare technology industry, laid off approximately 30% of its workforce, affecting around 40 employees, as part of a strategic restructuring to extend its financial runway and focus resources on commercializing its over-the-counter product, EndeavorOTC™. The layoffs, announced in early 2024, were driven by the need to reduce operational costs amid challenging market conditions, allowing the company to prioritize key growth initiatives in cognitive medicine.

Tesla, the electric vehicle giant, conducted significant layoffs in late April 2024, which notably impacted its Supercharger division. Reports indicate that nearly the entire 500-person team overseeing EV charging, including senior director Rebecca Tinucci, was cut. This move came just weeks after Tesla announced a broader reduction of about 10% of its global workforce, affecting roughly 14,000 employees. The layoffs occurred as Tesla was poised to dominate the U.S. EV charging landscape following the widespread adoption of its North American Charging Standard by other automakers. The decision raises questions about the future of the company's charging network expansion and its industry leadership.

Israeli fintech startup RiseUp, which provides a technology platform to help customers control expenses and save money, has laid off 50 employees, representing 50% of its 100-person workforce. The layoffs, announced on April 30, 2024, are part of a broader adjustment to ensure the company's growth and profitability amid challenging market conditions, including the ongoing war in Israel. Founded in 2017 and having raised $48 million in total funding, the company stated the difficult decision was necessary alongside other cost-saving measures to focus on its core business.

In April 2024, Turkish instant delivery company Getir announced a major strategic retreat, exiting the U.S., U.K., and European markets to focus solely on its home country. This decision impacts over 6,000 jobs across those closing operations, a significant portion of its workforce which numbered around 32,000 a year prior. The move marks a dramatic reversal for the once high-flying "quick commerce" startup, valued near $12 billion, as it and rivals like Flink face severe industry downturn. Getir cited the need to concentrate financial resources on Turkey and secured new investment to extend its runway, ending an aggressive global expansion that included acquisitions like Gorillas and FreshDirect.

ComplYant, a Los Angeles-based tax-compliance startup, abruptly shut down in September 2023, resulting in the layoff of its entire workforce. The company, which had raised over $10 million in venture funding, furloughed all employees immediately as part of a wind-down process. The exact number of employees affected is not specified, but it involved dozens of staff. The closure occurred amid a broader downturn in venture funding, contributing to a wave of startup failures. Employees faced significant delays, waiting nearly two months to receive their final paychecks and receiving no severance. Founder and CEO Shiloh Johnson cut off communication, deleting social media accounts and leaving staff and partners without answers, highlighting the sudden and disruptive nature of the shutdown in the competitive tech startup landscape.

EV startup Fisker Inc. initiated a new round of layoffs on April 29, 2024, to preserve cash as it faces impending bankruptcy. The exact number of employees affected is unclear, but the company had 1,135 staff as of April 19, following a previous 15% reduction in February. Founder and CEO Henrik Fisker stated the cuts are necessary to explore options like potential transactions or buyers, while the company reported having only $54 million in cash. This move highlights the ongoing financial struggles within the electric vehicle industry.

Indian ride-hailing giant Ola laid off approximately 180 employees in late April 2024 as part of a restructuring effort aimed at improving profitability and preparing for its next growth phase. The job cuts, which represent a small percentage of its total workforce, coincided with the departure of its CEO, Hemant Bakshi, after just four months. This move follows Ola's recent exit from several international markets, including the U.K., Australia, and New Zealand. The company, a major competitor to Uber in India and backed by investors like SoftBank, is also focusing on its upcoming IPO and leveraging AI and technology investments for future expansion.

Bengaluru-based healthtech startup Healthify (formerly HealthifyMe) laid off approximately 150 employees this week, representing about 27% of its workforce, as part of a restructuring effort. The layoffs primarily affected sales and product teams. CEO Tushar Vashist stated the move aims to achieve EBITDA profitability for its India business within the next few months and to reallocate resources for expanding its offerings in the U.S. market. The company, which raised $30 million in a pre-Series D round last year, is providing affected employees with severance packages, extended insurance, and job placement assistance. This marks the second round of layoffs at the startup, following a similar reduction in December 2021.

In late April 2024, space and defense startup True Anomaly laid off approximately 30 employees, representing around 25% of its workforce, and canceled its summer internship program. The Centennial, Colorado-based company, which had over 100 employees as of December 2023, stated the cuts were due to identifying duplication of roles and functions following a period of rapid growth, aiming to sharpen focus on its goals. The layoffs, which began surfacing on April 24, affected teams including sales, business development, and recruiting. This restructuring comes despite the company closing a $100 million funding round in late 2023 and claiming to be well-capitalized, even after an early technical setback in its first orbital mission in March. True Anomaly develops spacecraft and software for space domain awareness and security.

Influencer-marketing platform Grin has laid off many employees in its third round of cuts in recent months, citing ongoing changes in the global economic environment and a need to refocus on customers. While the exact number of affected staffers was not disclosed, the company confirmed the layoffs in April 2024. Grin, a startup in the creator economy that has raised $145 million since its 2014 founding, previously cut 60 roles in November 2022 and several more in March 2023. The latest impacted employees will receive a three-month severance package. The company joins other creator-economy firms like Jellysmack and FaZe Clan in reducing staff amid broader economic pressures in the tech sector.

Expedia on 2024-04-24.

Heureka Group, a major Czech e-commerce price comparison and shopping platform, laid off approximately 100 employees on April 23, 2024. This reduction affected about one-sixth of its workforce, which totaled around 600 people. The company cited a global trend of increasing pressure for efficiency within the technology and IT sector as the primary reason, stating the need to adapt to macroeconomic conditions and implement organizational changes. This layoff coincides with the start of Heureka's new fiscal year and follows other significant shifts, including an unexpected CEO change in September 2023. Despite reporting recent revenue growth, the company has continued to post financial losses, contributing to the context for this restructuring.

Freenome, a biotechnology company focused on early cancer detection through blood tests, laid off approximately 20% of its workforce in early 2024, affecting around 100 employees. The reduction was part of a strategic restructuring to extend its financial runway and prioritize key clinical and operational goals amid a challenging funding environment for the life sciences sector. The company, which employs about 500 people, aims to streamline operations while advancing its multi-cancer screening programs.

98point6 on 2024-04-23.

Portuguese tech unicorn OutSystems has announced a workforce reduction of 8% of its global team, affecting approximately 150 employees based on a reported headcount of 1,875 from August 2023. The company's CEO, Paulo Rosado, stated the layoffs aim to make the organization more agile at scale, maintain its leadership position in the low-code development platform market, and leverage opportunities in generative AI. The restructuring involves simplifying the company's hierarchy. While specific locations were not confirmed, the layoffs appear to be global, impacting employees in regions including the US. The company, founded in 2001 and operating in the enterprise software industry, achieved unicorn status in 2018.

Homie, a Utah-based real estate technology company that aimed to disrupt the traditional homebuying and selling process, has laid off its remaining real estate agents as it shuts down its brokerage business. The company, which previously employed around 200 people at its peak, did not specify the exact number of agents affected in this final round, but the move effectively ends its direct brokerage operations. This decision, announced in late November 2023, is part of Homie's shift to a referral-based model, where it will connect clients with external real estate agents and contractors instead of employing its own. The layoffs follow a period of financial struggles and leadership changes within the company, reflecting challenges in the competitive proptech industry. Homie, once a growing startup, continues to operate on a reduced scale, focusing on its technology platform and referral services.

Showpad laid off 50 employees representing approximately 10% of its workforce on 2024-04-18.

Pax8, a Denver-based born-in-the-cloud distributor, has laid off just under five percent of its global workforce, primarily impacting employees in North America. The company, which has experienced strong year-over-year revenue growth in recent years, described the decision as difficult but necessary to optimize operations, increase alignment, and position the business for long-term success. CEO John Street cited an industry-wide shift from unfettered growth to a more cost-efficient model, acknowledging that the company had underestimated the importance of this transition post-pandemic. While the exact number of affected employees wasn't disclosed, the layoffs are part of an effort to create a "fit company," with no further company-wide reductions anticipated in the near term.

Stability AI, the artificial intelligence startup behind the Stable Diffusion image generator, has laid off more than 20 employees, representing about 10% of its global workforce of approximately 200 people. The layoffs, announced in an internal memo on Wednesday, are part of a restructuring effort by the new co-CEOs to "right-size" the business following a period of unsustainable growth. This move comes shortly after the departure of the company's controversial founder and former CEO, Emad Mostaque, and primarily affects operational staff as the leadership seeks to stabilize the company.

The Good Glamm Group, a Mumbai-based content-to-commerce platform in the beauty and personal care industry, has laid off 150 employees, representing approximately 15% of its workforce. This reduction occurred over the past 15 months as part of a broader organizational restructuring aimed at streamlining operations and eliminating redundancies following the integration of several acquired companies. The company, which operates at a unicorn scale with a $1.2 billion valuation, stated this move finalizes its team integration phase with the goal of achieving profitability in FY25. Concurrently, the firm has made key executive appointments, including a new group COO and CFO, amidst some leadership departures.

Rivian representing approximately 1% of its workforce on 2024-04-17.

Google on 2024-04-17.

ConnectWise, a Tampa-based software vendor with over 3,100 employees, has laid off "significantly less than 100" staffers, with an inside source specifying about 80 positions eliminated globally across multiple departments. The layoffs, announced recently, are part of organizational changes aimed at improving operations and aligning resources with partner growth opportunities. The company cited redundancy from past acquisitions and product adjustments as key factors, noting it is sunsetting some offerings to focus on future opportunities. This move reflects a broader trend in the technology and MSP industry where companies periodically restructure to meet evolving business needs.

AI startup Tome is laying off approximately 12 employees, representing 20% of its 59-person workforce, as part of a strategic restructuring announced in April 2024. The company, which offers a generative AI presentation tool, is shifting its focus from a broad consumer and professional user base to specifically target enterprise sales teams. This move comes as Tome identifies a stronger revenue opportunity in serving paying business customers, leading to cuts in its consumer go-to-market and product development teams. The restructuring will see those roles replaced with enterprise sales staff and developers dedicated to B2B software, aiming to build more sophisticated, revenue-generating products for sales organizations.

Take-Two Interactive, the publisher behind the highly anticipated Grand Theft Auto VI, announced layoffs in April 2024 as part of a major cost reduction program. The company is cutting approximately 5% of its workforce, which translates to about 579 employees, and canceling several in-development projects. This move, expected to incur significant charges, contradicts earlier statements from CEO Strauss Zelnick, who had claimed there were "no plans" for layoffs. The decision is framed as streamlining operations and eliminating projects to optimize costs, with the program set to conclude by the end of 2024. This action places Take-Two within a wider trend of industry-wide layoffs affecting major publishers throughout the year.

Tesla is laying off more than 10% of its global workforce, potentially affecting over 14,000 employees, as part of cost reductions and efforts to increase productivity amid a cooling demand for electric vehicles. The layoffs were announced in an internal email from CEO Elon Musk, following a year-over-year sales drop and lower growth projections for 2024.

Glovo laid off 25 employees on 2024-04-12.

Advertising technology company Criteo is laying off up to 4% of its global workforce, affecting approximately 140 employees, as part of a strategic restructuring to improve operational efficiency and invest in growth areas. The layoffs, announced in April 2024, come as the company prepares for significant industry changes, notably Google's planned deprecation of third-party cookies in its Chrome browser, which Criteo estimates could reduce its revenue by up to $40 million this year. With around 3,563 employees as of late December, the publicly traded adtech firm is pivoting from its traditional retargeting business toward commerce media and connected TV solutions to adapt to evolving privacy regulations and tracking restrictions.

Israeli retail technology startup Fabric is laying off approximately 30 employees, representing about 15% of its 200-person workforce, as announced in April 2024. This marks the company's second significant round of layoffs, following a cut of 150 jobs in July 2022. The decision comes as the company, which provides automated fulfillment solutions combining hardware and software, shifts its business model from selling complete robotic warehouse systems to focusing solely on technology and software sales. Founded in 2015 and having achieved unicorn status with over $1 billion valuation, Fabric has raised $375 million to date. The layoffs follow recent leadership changes, including the appointment of a co-CEO, as the company navigates adjustments in its growth strategy within the competitive retail tech industry.

TikTok is laying off over 250 employees in Ireland today, April 12, 2024, as part of a company-wide restructuring. This move affects the social media giant's Training and Quality team, with the number of job losses representing less than 10% of its approximately 3,000-strong Irish workforce. While TikTok stated the restructuring aims to enhance quality assurance processes and that Ireland remains a key base, some affected staff have criticized the handling of the layoffs as insensitive, noting difficulties in securing other internal roles despite company assurances.

Hinge Health, a virtual physical therapy startup focused on treating chronic musculoskeletal conditions, laid off approximately 10% of its workforce on April 11, 2024. The cuts affected around 170 employees across various functions, including engineering, from a total of over 1,700 staff. The company stated the layoffs were part of an organizational realignment to accelerate its path to profitability, speed up decision-making, and focus investments, as it prepares for a future IPO. Despite the reduction, Hinge Health, last valued at $6.2 billion in 2021, noted it has substantial cash reserves and is not under immediate pressure to go public.

UK gut health startup Zoe, a prominent direct-to-consumer healthtech company, announced in April 2024 that it will cut costs by 20%, leading to layoffs. The company, which grew rapidly and became a household name during the pandemic, admitted it "overexpanded" its team in an unsustainable way after growth forecasts for 2024 proved inaccurate. While Zoe has over 100,000 members and continues to attract new users, high customer churn and a need to align costs with revenue prompted the restructuring. The layoffs are part of broader cost-cutting measures, including halting office expansion and reducing contract expenses. Zoe, which has raised $84.5 million and was the UK's fastest-growing healthtech by headcount in 2023, aims to stabilize its operations and focus on its science and member base.

Checkr, a background-screening platform last valued at $5 billion, laid off 382 employees, representing 32% of its workforce, on Tuesday, April 10, 2024, due to economic conditions affecting hiring and to operate more efficiently for long-term business health.

Uber, following its acquisition and integration of Cornershop, has laid off approximately 200 customer support professionals from the Cornershop team in Chile as part of a broader regional adjustment. This move, announced recently, is part of Uber's efforts to optimize operations within its Supermarkets and Retail business line. The layoffs, which are part of a larger plan affecting around 500 employees regionally, aim to streamline support services without impacting user experience. Affected employees are being offered internal transfers or severance packages. The tech and delivery industry giant continues to consolidate its operations post-acquisition.

Indian edtech startup Scaler, which focuses on upskilling tech professionals, has laid off approximately 150 employees as part of a restructuring aimed at ensuring long-term growth and sustainability. This marks the company's first layoff round since its founding in 2019. The cuts, announced in April 2024, primarily affected roles in marketing and sales. The Bengaluru-based firm, which had raised $75 million and was nearing unicorn status, stated the decision was not performance-based and offered support to those impacted. This move occurs amidst broader layoffs in the Indian startup ecosystem, with Scaler's action reflecting ongoing adjustments within the competitive edtech sector.

Intel, the semiconductor giant, has initiated a new round of layoffs impacting approximately 62 positions within its Sales and Marketing Group at its Santa Clara, California headquarters. This move is part of an ongoing reorganization aimed at streamlining operations and reducing costs, following CEO Pat Gelsinger's 2022 announcement to cut up to $10 billion in spending by 2025 amid a slowdown in demand. The layoffs, disclosed in an April 4 state filing, are set to take effect starting May 25. While the exact percentage of total employees affected is not specified, Intel emphasizes its commitment to supporting impacted staff and continuing its strategic transformation in the competitive chip industry.

Trendsales laid off 79 employees representing approximately 100% of its workforce on 2024-04-08.

Singularity 6, a Los Angeles-based game developer founded by ex-Riot Games veterans, has laid off approximately 35% of its staff following the release of its MMO Palia on Steam. The studio, which raised $30 million in 2021 and recently surpassed three million players, stated the workforce reduction was a difficult decision made after evaluating the development and business needs required to support the game and its community. The layoffs impacted about one-third of the team, with affected employees receiving severance, career assistance, and retention of company equipment.

Fission representing approximately 100% of its workforce on 2024-04-07.

Apple laid off 614 employees on 2024-04-04.