Layoff Events

Clockwork representing approximately 100% of its workforce on 2023-08-28.

Chinese AI firm SenseTime has reportedly conducted another round of layoffs across multiple departments, with affected employees being asked to leave within a week. This marks the company's second major downsizing in less than a year. According to sources cited by Caixin, the smart city group division saw a workforce reduction of 10% to 15%. The layoffs occur as SenseTime, a Hong Kong-listed company under U.S. sanctions, continues to operate at a loss, having incurred over RMB 40 billion in deficits over the past five years. The company is also actively competing in the development of large language models, having launched its SenseNova model in April. By the end of 2022, SenseTime's total employee count had already decreased by more than 1,000, a decline of 16.6% from the previous year.

Zebra Technologies, a global leader in enterprise asset intelligence and tracking solutions, announced in late August 2023 that it would eliminate approximately 700 positions. This workforce reduction represents a significant cut for the technology company, which employs around 10,000 people globally, meaning roughly 7% of its workforce was affected. The decision was driven by a need to streamline operations and reduce costs in response to challenging macroeconomic conditions and a slowdown in customer spending within the industrial automation and enterprise mobility sectors. The layoffs are part of a broader restructuring plan aimed at improving operational efficiency and positioning the company for future growth amid market uncertainties.

CoinSwitch, a Bengaluru-based crypto asset platform and unicorn, laid off 44 employees in August 2023, marking its first-ever workforce reduction. The cuts primarily affected the customer support team, which the company stated was "right-sized" due to a lower volume of customer queries. While the exact total employee count isn't specified, CoinSwitch is a major, well-funded player in the cryptocurrency industry, having raised over $400 million. This move reflects broader challenges in the crypto sector, including increased regulatory scrutiny in India and a tough market environment, as seen with similar layoffs at other firms like CoinDCX.

HackerRank, a Y Combinator-backed technology hiring platform, laid off 53 employees globally in late August 2023. The layoffs were attributed to prolonged poor financial performance and ongoing economic uncertainty, prompting a strategic shift to prioritize protecting existing customers over new business. Co-founder and CEO Vivek Ravisankar announced the restructuring, which involved role eliminations and organizational redesign. The company, which has assessed over 7 million developers worldwide, is providing severance packages including extended pay and health insurance support to affected staff.

Edtech startup Cuemath has laid off approximately 100 employees in a recent restructuring effort to reduce costs, marking the second round of layoffs this year after a similar cut of about 100 staff in May. The company, which offers K-12 mathematics courses globally and is backed by investors like Google and Peak XV Partners, cited a challenging macroeconomic environment and a persistent gap between revenue and cost expectations as key reasons. CEO Manan Khurma communicated the decision via email on August 25, acknowledging that previous turnaround efforts fell short. This move reflects broader pressures in the edtech industry, where funding constraints have led to multiple startups downsizing. Cuemath reported a net loss of over INR 216 crore in FY22, with employee expenses constituting a significant portion of its costs.

Fortinet, a leading cybersecurity vendor based in Sunnyvale, California, has conducted layoffs affecting employees in sales, business development, and channel partner roles. While the exact number of impacted workers is not specified, the cuts come amid broader industry downsizing and follow Fortinet's lower-than-expected earnings for the quarter ending June 30. The company, which reported having 13,677 employees and contractors as of that date, attributed the sales decline to enterprise customers postponing deals due to economic uncertainty. Affected individuals, including channel development specialists and managers, shared news of the layoffs on LinkedIn in August 2023, highlighting reductions in key teams that support Fortinet's entirely channel-driven sales model.

Captiv8, an influencer marketing platform, has laid off approximately 20% of its workforce, affecting around 20 employees. The company, which operates in the competitive marketing technology industry, cited a strategic restructuring aimed at improving operational efficiency and focusing on core business priorities. This move reflects broader challenges within the ad tech and influencer marketing sectors, where companies are adjusting to shifting market demands and economic pressures. The layoffs occurred as part of efforts to streamline operations and position the company for sustainable growth amid a rapidly evolving digital landscape.

Bengaluru-based short-video platform Chingari has laid off over 50% of its workforce in a second round of job cuts within two months, reducing its total employees to just 50-60. This drastic reduction follows an earlier layoff of 20% in June and comes amid a severe cash crunch. The company, struggling to secure fresh funding that has been stuck in due diligence, also imposed pay cuts of up to 50% on some remaining staff to cut expenses. The layoffs, which occurred last week, affected teams including product, customer support, design, and marketing, with employees being asked to resign during one-on-one meetings. Operating in the competitive short-video and social media industry, Chingari faces potential shutdown if it fails to raise new capital in the coming months.

Atlas laid off 150 employees representing approximately 30% of its workforce on 2023-08-23.

BlackLine laid off 95 employees representing approximately 5% of its workforce on 2023-08-23.

Veriff laid off 101 employees representing approximately 21% of its workforce on 2023-08-23.

Cellulant, a Kenya-based fintech startup, is laying off 20% of its workforce as part of a restructuring effort to transition to a leaner, product-led business model. This follows a previous round of layoffs six months earlier that affected about 30% of staff. CEO Akshay Grover stated the move aims to boost operational efficiency, consolidate functions, and reallocate capital to drive growth across its 19 markets. The decision reflects the company's response to a dynamic operating environment and its goal to remain a market leader.

Rivos laid off 24 employees representing approximately 6% of its workforce on 2023-08-23.

Based on the provided spreadsheet data, which appears to be a crowdsourced list of professionals affected by layoffs, the company JOIN has experienced workforce reductions. The document shows multiple entries from August 2023, indicating individuals in roles such as Revenue Operations, DevOps Engineering, and Product Design based in Berlin who are now seeking new positions. While the exact number of layoffs at JOIN is not specified in this snippet, the list suggests a significant impact, particularly on their European operations. The context points to broader tech industry trends of restructuring and cost-cutting that occurred throughout 2023. The company scale and total employee count are not detailed, but the affected roles span mid to senior-level experience.

Tempo Automation on 2023-08-22.

Hypefast, an Indonesian e-commerce startup, laid off an unspecified number of employees in early 2024 as part of a restructuring effort to achieve profitability. The company, which operates in the competitive e-commerce and brand aggregation industry, cited challenging market conditions and a strategic shift toward sustainable growth as key reasons for the workforce reduction. While exact figures regarding the total employees and percentage affected were not publicly disclosed, the move reflects broader pressures within the tech startup sector in Southeast Asia. Hypefast, known for scaling local brands, aims to streamline operations to navigate economic headwinds and focus on long-term viability.

BioWare is laying off approximately 50 people.

Datagen, an Israeli AI startup, is on the verge of closure after laying off nearly all its remaining workforce in August 2023, leaving only about 10 employees. This follows a major layoff three months prior. The company, which had 110 employees as of May 2023, was severely impacted by the rise of generative AI like ChatGPT, which made its core data simulation product less relevant. Despite raising $70 million total, including a $50 million Series B in 2022, and entering acquisition talks with Meta that ultimately failed, the company could not adapt. A small team remains to explore a new direction.

Getir laid off 2,500 employees representing approximately 11% of its workforce on 2023-08-22.

Indian cryptocurrency exchange CoinDCX has laid off 12% of its workforce, a decision announced on August 22, 2023. While the exact number of affected employees was not specified, the company stated the layoffs are part of a strategic restructuring to improve efficiency and focus on long-term growth amid a challenging market environment. The crypto exchange is providing comprehensive support to those impacted, including full notice period severance, an additional month's salary, and owed variable pay and incentives.

Unite Us on 2023-08-21.

Recur on 2023-08-21.

Twiga, a Kenyan B2B e-commerce platform, is laying off 283 employees, representing 33% of its 850 workforce, to maintain business viability amid macroeconomic challenges and capital-raising difficulties. The company is implementing strategic adjustments, including disbanding in-house delivery in favor of a logistics marketplace and transitioning to a central warehouse model, to reduce costs and enhance operational efficiency.

Twiga Foods, an e-commerce food distribution startup in Africa, laid off approximately 283 employees, representing about one-third of its 850 permanent workforce, in August 2023. The company cited a tough business environment and declining purchasing power as reasons for operational restructuring aimed at becoming a leaner and more cost-efficient organization. Despite the layoffs, Twiga denied rumors of shutting down its Ugandan operations and confirmed the continuation of its Twiga Fresh farming vertical. The affected employees across all markets are to receive severance packages in compliance with labor laws.

Online poker platform Spartan Poker has laid off 125 employees, representing 40% of its total workforce, as it contends with the financial strain imposed by India's new 28% GST on online gaming. This late 2023 development marks the company as the third major player in the domestic online gaming industry, following Hike and MPL, to implement significant job cuts in response to the tax regime, which has drastically increased operational costs and tax burdens for the sector.

Embrace, a startup in the technology sector, has conducted a layoff as part of a strategic realignment to focus on marketing and product innovation. The decision, announced by CEO Eric Futoran, reflects the challenging economic climate and the company's need to allow its long-term strategies more time to develop. While the exact number of employees affected was not disclosed, the move aims to streamline operations toward core growth areas. Embrace continues to grow with investor support but is adjusting its team structure to navigate current market conditions and ensure sustainable progress.

Zylo representing approximately 10% of its workforce on 2023-08-18.

Times Internet laid off 100 employees representing approximately 5% of its workforce on 2023-08-18.

Detectify, a Swedish cybersecurity company, has laid off approximately 20 employees, representing about 13% of its workforce. The decision, announced in late 2023, was attributed to strategic restructuring aimed at improving operational efficiency and focusing on core product development amid broader economic challenges in the tech industry. The company, which provides automated security testing solutions, stated the move was necessary to ensure long-term sustainability and growth.

In May 2023, Intel initiated a new round of layoffs, primarily targeting its client computing and data center groups, following earlier workforce reductions in October 2022. The company is cutting 140 research and development positions in California, with 89 employees affected at its Folsom campus and 51 in Santa Clara. These cuts are part of Intel's broader restructuring efforts to streamline operations and reduce costs amid shifting market demands and competitive pressures in the semiconductor industry. As a major player in the tech sector, Intel continues to adjust its workforce while investing in strategic areas like AI and advanced packaging to maintain its market position.

San Diego-based DNA sequencing leader Illumina laid off 151 employees at its headquarters and a nearby site, effective August 14, 2023. This is part of a broader cost-cutting plan to reduce annual expenses by over $100 million. The layoffs, primarily affecting manufacturing, engineering, and talent acquisition roles, represent a small fraction of its global workforce of 10,200. This action occurs amidst company turmoil, including a CEO resignation, a proxy fight, and ongoing legal battles over its contested acquisition of Grail, which regulators have ordered it to divest.

StreamElements, an Israeli startup providing tools for content creators, has laid off 60 employees, representing 35% of its 160-person workforce. This marks the company's third round of layoffs, following cuts in June 2022 and January 2023. The company cited challenging market conditions and a persistent slowdown in the advertising market, noting that new client budgets did not offset reductions from existing clients. To achieve sustainable growth and profitability without further external funding, StreamElements implemented these workforce reductions. The startup, founded in 2017, had raised $100 million in 2021 led by SoftBank Vision Fund 2.

AppFolio laid off 149 employees representing approximately 9% of its workforce on 2023-08-17.

FlexCar laid off 20 employees on 2023-08-16.

Based on the provided content, there is no information about a layoff event at Xendit. The article content only displays a technical message about enabling JavaScript for the website to function. Therefore, a summary of a layoff cannot be generated from this text.

Noice, a social audio platform, has laid off approximately 25% of its workforce, affecting around 80 employees out of a total of 320. The layoffs, which occurred in early 2023, were part of a broader restructuring effort aimed at extending the company's financial runway amid challenging market conditions in the tech and social media industry. As a mid-sized startup, Noice cited the need to prioritize core product development and achieve sustainable growth.

Norwegian electric vehicle charging company Easee is undergoing a significant crisis management restructuring, which includes extensive layoffs. While the exact number of employees affected is not specified in the provided text, the company is implementing mass dismissals as part of this plan. Concurrently, Easee is securing 60 million Norwegian kroner in new capital. Founder and top executive Jonas Helmikstøl is stepping down from his leadership role as of Monday, August 14, 2023, though he will remain with the company in another capacity. These measures highlight the severe challenges facing the firm in the competitive EV charging industry.

In August 2023, iQiyi Smart, the VR equipment subsidiary of streaming giant iQiyi Inc., underwent significant layoffs and financial distress as the broader metaverse hype faded. The company, operating in the competitive VR hardware industry, had conducted multiple rounds of downsizing over the preceding six months, reducing its total headcount to below 100 employees. In some departments, the layoffs reached as high as 50% of the staff. This restructuring was driven by the startup's struggle to achieve profitability and mainstream adoption in a sector that has yet to gain widespread consumer traction. Concurrently, the company had been delaying or withholding salary payments to employees since March 2023, highlighting its severe cash flow challenges.

CoinDesk, a crypto media business owned by Digital Currency Group, is reducing its workforce, impacting 16% of staff, as a required step to ensure financial soundness and facilitate a potential sale deal expected to close in the coming weeks.

Cybersecurity firm SecureWorks announced on August 14, 2023, that it will lay off approximately 300 employees, representing 15% of its global workforce. This marks the company's second round of job cuts in 2023, following a 9% reduction in February when it had about 2,149 full-time employees. CEO Wendy Thomas cited the need to simplify and scale the business to achieve profitable growth. The layoffs, expected to cost around $14.2 million in termination benefits and real-estate expenses, are part of a broader trend of workforce reductions in the tech and cybersecurity sectors, with affected employees' last day set for August 25.

LingoAce, an online language learning platform specializing in Chinese education for children, conducted a round of layoffs in early 2023, affecting approximately 100 employees. This reduction represented about 10% of its workforce at the time. The cuts were part of a strategic restructuring to streamline operations and improve efficiency amid shifting market dynamics in the edtech industry. The company, which operates globally and had scaled rapidly during the pandemic, cited a need to adapt to post-pandemic demand changes and focus on sustainable growth. The layoffs primarily impacted non-teaching roles across various departments.

In August 2023, UK-based cybersecurity giant NCC Group confirmed it was undertaking a second round of layoffs within six months, following a previous cut of 125 employees (7% of its workforce) announced in February. The company described the latest reductions as affecting a "relatively small number" of colleagues, primarily in North America, and attributed the move to changing market dynamics and a renewed global strategy. This placed NCC among several cybersecurity firms, like Rapid7 and HackerOne, making workforce adjustments amid broader industry pressures. The exact number of employees impacted in this round was not disclosed.

Hike, the Indian tech startup behind the Rush Gaming Universe platform, laid off approximately 55 employees on August 10, 2023, representing about 22% of its total workforce. The company's founder cited the recent increase in Goods and Services Tax (GST) on online gaming to 28% as the primary reason, describing the 400% hike in tax liability as a severe financial burden requiring cost absorption. This move follows similar layoffs at other gaming firms like Mobile Premier League, reflecting broader industry distress. Hike, which focuses on Web3 gaming and has notable investors, reported its core business was otherwise strong, but the regulatory change forced this restructuring to ensure sustainability.

SHINE Technologies, a Janesville, Wisconsin-based company in the nuclear technology and medical isotopes industry, has laid off 59 employees. The layoffs, announced in late 2023, affected a range of positions including a vice president, engineers, and support staff. The company, which had recently claimed a breakthrough in nuclear fusion technology, cited difficult market conditions, challenging long-term projects, and cash flow concerns due to a lack of financing and investment. CEO Greg Piefer stated the cuts were part of a focus on reaching a self-sustaining financial state. Affected workers received two months of pay and benefits.

Shutterfly, a California-based online photo printing and personalized goods company, is closing its manufacturing plant in Shakopee, Minnesota, resulting in the layoff of 246 employees. The closure, part of a strategy to consolidate operations into larger hubs, will be phased starting in October 2023, with the facility permanently shutting in June 2024. The company, which has operated the plant for nearly a decade, acknowledged the impact on workers and the local community and stated it would assist affected employees with job placement, internal transfers, or relocation support. This move reflects a restructuring effort within the competitive e-commerce and photo services industry.

StyleSeat representing approximately 17% of its workforce on 2023-08-09.

Niantic laid off 100 employees on 2023-08-09.

In August 2023, Blend Labs, Inc., a financial technology company providing software for the mortgage and banking industries, implemented its fifth round of layoffs within a year and a half. The company eliminated approximately 150 current positions, representing about 19% of its onshore workforce at the time, along with roughly 20 unfilled vacancies. This restructuring plan, announced on August 9, 2023, aimed to further streamline its title operations and corporate functions, including research and development, sales, and general administration. The move was part of Blend's ongoing efforts to reduce costs and improve operational efficiency amid challenging market conditions in the mortgage sector.

Gaming startup Quizy has completely shut down its business in August 2023, resulting in the layoff of its entire team. The closure was a direct result of the Indian government's decision to impose a 28% Goods and Services Tax (GST) on the full face value of bets in the online gaming industry. Founder Sachin Yadav stated that this massive tax hike, combined with other tax measures, made the business model unsustainable, forcing the company to exit the real-money gaming sector. This shutdown reflects a broader crisis in the Indian online gaming industry, where increased tax liabilities are pushing many startups and MSMEs out of business, potentially leading to market consolidation.