Layoff Events

Israeli startup Dealtale, a customer journey analytics platform, has been shut down by its parent company Vianai Systems, resulting in layoffs for all 70 employees. This decision, announced in an August 2023 meeting, came just over a year after Dealtale's acquisition for approximately $20 million. The closure is attributed to Vianai's strategic pivot towards generative AI, which made Dealtale's existing products less central to its new direction. The layoffs affected the entire workforce, including over 30 employees based in Israel, marking a complete cessation of the startup's operations.

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Babylon Health laid off 94 employees on 2023-08-09.

Caliva laid off 54 employees on 2023-08-08.

23andMe laid off 71 employees representing approximately 11% of its workforce on 2023-08-08.

Thoughtworks, a global technology consultancy, is laying off approximately 4% of its workforce, affecting hundreds of employees. The company, which employs around 10,000 people worldwide, announced the cuts in August 2023 as part of a restructuring effort to improve operational efficiency and adapt to changing market conditions in the tech industry. This move reflects broader challenges within the technology consulting sector as companies adjust to post-pandemic demand shifts and economic uncertainties.

Mobile Premier League (MPL), a Bengaluru-based real-money gaming startup, is laying off 350 employees. This decision, announced on August 8, 2023, is a direct response to the Indian government's imposition of a 28% GST on the real-money gaming industry, which is expected to increase the company's tax burden by 350-400 percent. This marks the second major round of layoffs for MPL in about a year, following a previous cut of over 100 employees in May 2022. The move highlights the severe financial strain the new tax policy is placing on companies within India's online gaming sector.

Kenyan logistics startup Sendy is shutting down operations and selling its assets after running out of funds, marking the end for a company once valued over $80 million. The B2B e-commerce and logistics firm, which had targeted raising $100 million last year, struggled with operational costs and pricing challenges. After a 10% workforce reduction in July 2022, Sendy laid off 54 employees in October 2022 and exited the Nigerian market in February 2023 as part of severe cost-cutting measures. Unable to secure sufficient new investment or a buyer, the company ceased operations around August 2023, leaving it unable to cover salaries and forcing an asset sale.

Doximity laid off 100 employees representing approximately 10% of its workforce on 2023-08-08.

Rapid7 laid off 470 employees representing approximately 18% of its workforce on 2023-08-08.

India's online gaming startup Mobile Premier League (MPL) is cutting its workforce by approximately 50%, eliminating around 350 jobs, as announced in an email to employees on Tuesday. The layoffs are a response to new taxation rules from New Delhi that impose a 28% tax on online real-money games, significantly increasing the company's tax burden. This cost-cutting measure aims to reduce expenses and ensure business viability in the face of the new tax regime.

Verse representing approximately 100% of its workforce on 2023-08-07.

Dell Technologies is implementing layoffs within its core sales teams as part of a strategic shift to a new partner-led go-to-market model, particularly for storage products. While the exact number of affected employees was not specified in this announcement, the company is restructuring to incentivize its direct sales force to sell more through channel partners. This move, confirmed by a Dell spokesperson, aims to enhance competitiveness and align with market demands that favor indirect sales. The layoffs occur in the broader context of the technology industry's adjustments and follow a larger reduction of 6,650 jobs announced by Dell earlier in the year. Partners view this change positively, seeing it as an opportunity to deepen collaboration with Dell and drive future growth.

In August 2023, space company Astra laid off 25% of its workforce as part of a strategic shift to conserve cash and focus on its spacecraft engine business. The layoffs, affecting employees in launch, sales, administration, and shared services, are expected to save over $4 million per quarter starting in Q4 2023. With dwindling cash reserves—reportedly around $26 million—and limited near-term revenue prospects, Astra is reallocating at least 50 engineers to spacecraft production, which has secured around $77 million in contracts. This move will delay testing of its Rocket 4 and Launch System 2.0. The company is also seeking additional capital through financial advisors and a recent debt sale to sustain operations.

CodeClan laid off 57 employees representing approximately 100% of its workforce on 2023-08-04.

Qomplx laid off 60 employees on 2023-08-04.

Pan-African media company Big Cabal Media, parent to TechCabal, Zikoko, and Citizen, laid off 19% of its workforce on August 4, 2023, citing harsh market conditions. The decision, described as challenging, was driven by revenue growth that still fell short of budgetary expectations, partly due to Nigeria's currency devaluation. The company's new publication, Citizen, focused on Nigerian politics, was most affected. Despite a 180% year-on-year revenue increase in the first half of the year, Big Cabal Media aims to become more efficient and self-sustaining by focusing on its tech media and data analytics arms. Affected employees will receive two months' salary as part of the transition.

Discord has laid off nearly 40 employees, representing 4% of its workforce, as part of a company reorganization. The job cuts affected teams in marketing, design, and entertainment partnerships, with the company stating it is focused on long-term growth.

Top Hat, a Canadian educational technology company, has reduced its headcount as part of a broader industry downturn. The layoffs, confirmed in early August 2023, reflect the severe market pressures facing tech startups. With rising interest rates and a sharp decline in venture capital funding, companies across the sector are being forced to cut costs to preserve cash and pursue profitability. Top Hat's staff reduction places it alongside other Canadian firms like Fable and the now-closed Silofit, contributing to a global wave of tech layoffs that has seen over 225,000 jobs eliminated in 2023 alone. The company operates in the competitive edtech space, where securing sustainable funding has become increasingly challenging.

Aware on 2023-08-03.

Discord laid off 37 employees representing approximately 4% of its workforce on 2023-08-03.

Fintech giant Finastra has laid off dozens of employees at its Israeli R&D center in August 2023, marking a second wave of layoffs this year following a similar round in January. The company, which employs over 11,000 people globally with about 370 in Israel, is restructuring to outsource roles to India and the Philippines as a cost-cutting measure. The Israeli branch is crucial, developing the Fusion Global PAYplus payment system used by hundreds of financial institutions worldwide. This move reflects broader challenges in the tech sector, impacting a key innovation hub within the global fintech industry.

Indonesian fintech company Ayoconnect laid off 10% of its workforce in early August 2023 as part of a strategic move to achieve profitability targets. The company, which operates in the financial technology industry, made this difficult decision to streamline operations and improve its financial sustainability. While the exact number of employees affected was not specified, the reduction impacted a significant portion of the team, reflecting the challenging economic environment faced by many tech startups striving for long-term viability.

Bardee laid off 30 employees on 2023-08-03.

SoftBank-backed UK event ticketing platform DICE confirmed a round of layoffs in early August 2023 as part of a company restructuring. The company, which operates in the event tech and marketplace industry, stated the move was a difficult decision to refocus on its most important initiatives. While DICE did not disclose the exact number of employees affected, the layoffs were implemented to streamline operations and ensure strategic focus amid broader market adjustments.

Brazilian HRTech company Gupy conducted its first layoff since its 2015 founding, reducing its workforce by 8.5%, which equates to 58 employees. The decision, announced on August 2, 2023, was part of a strategic reorganization to integrate its products into a unified ecosystem, moving away from a model with separate business units. This restructuring, following three acquisitions in three years that grew the team by 135%, revealed role overlaps. Leadership emphasized the move was for operational synergy and efficiency, not financial pressure, noting the company's healthy balance sheet and ongoing hiring plans. Gupy operates in the HR technology industry and is scaling its product offerings.

Spinny, a Tiger Global-backed used car marketplace, has laid off approximately 300 employees as part of a business restructuring. This reduction affects about 5% of its workforce, which totals around 6,000 to 6,200 employees. The layoffs, announced in early August 2023, are connected to the company's strategic move to merge its Truebil and Spinny Max operations under the main Spinny brand. This reorganization aims to streamline operations in the competitive automotive e-commerce industry.

HackerOne, a bug bounty and penetration testing platform, is laying off 12% of its workforce, impacting employees worldwide, as a one-time event due to the global economic slowdown and cost burdens from products that did not meet expectations. The company has over 450 employees, suggesting more than 50 are affected, with severance packages provided. The layoffs were announced on Wednesday.

Gem, a recruiting software company, has laid off approximately 70 employees due to challenging macroeconomic conditions that have led many companies to pause or slow hiring, reducing demand for its services. This workforce reduction, announced by CEO Steve Bartel, is aimed at extending the company's financial runway by multiple years to ensure long-term stability and continued service for customers. The layoffs reflect broader industry contractions affecting HR tech, as Gem adjusts its structure to weather a potential prolonged economic downturn while maintaining its product and service quality.

California-based SaaS automation startup Tekion, founded by former Tesla executive Jay Vijayan, has laid off approximately 300 employees, representing about 10% of its workforce, as part of a restructuring effort. The majority of those affected, around 200 individuals, were based in the company's India offices in Bengaluru and Chennai. Announced in a town hall meeting on July 31, the layoffs impacted various teams including tech, sales, marketing, and HR. Tekion cited "changing macroeconomic conditions" and the need for organizational adjustments as reasons, though sources indicate missed revenue targets and product rebuilds also contributed. The company, last valued at $3.5 billion after a 2021 funding round, is providing severance and transition support to the impacted employees.

TripAdvisor on 2023-08-02.

Indian fintech startup FamPay, a neo-bank for teenagers backed by Peak XV, has laid off 18 employees in its second round of job cuts, as reported in August 2023. The company, founded in 2019, is streamlining operations to optimize its business model in the competitive digital payments industry. While the exact percentage of the workforce affected wasn't specified, this move reflects broader challenges and restructuring efforts within the startup sector to achieve sustainable growth.

ConnectedH, a B2B healthtech startup backed by Kalaari Capital, has ceased operations and is returning remaining capital to investors. The company, which employed a team of undisclosed size, effectively laid off all staff as a result of the shutdown last month, though the cofounder stated team members have been placed in new roles. Founded in 2018, the startup provided CRM and diagnostic lab tools but ultimately ran into insurmountable market realities amid the ongoing funding winter, leading to its closure just two years after raising $2.3 million in seed funding. This marks another casualty in the competitive healthtech industry, highlighting the challenges faced by early-stage ventures in securing sustainable growth.

BetterUp, a career coaching startup valued at nearly $5 billion, is laying off 16% of its workforce, affecting over 100 employees. The company, which employs Prince Harry as its chief impact officer, announced the cuts in August 2023 amid internal challenges, including missed financial targets and efforts to reduce overhead. This restructuring follows a period of tumult within the organization.

Israeli unicorn Augury, a provider of AI-driven mechanical diagnostics platforms, has laid off 70 employees, representing 18% of its workforce of 390. This marks the company's second round of layoffs in 2023, following a smaller reduction earlier in the year. The cuts are split equally between its Israeli and international teams. Founded over a decade ago, Augury experienced rapid growth, expanding from about 80 to 400 employees and increasing revenue tenfold in three years, bolstered by a $180 million funding round in late 2021 and the acquisition of Seebo in 2022. However, citing a need to streamline operations and pursue profitability amid challenging market conditions, the company made this difficult restructuring decision in August 2023 to ensure long-term success.

Salesforce laid off 50 employees on 2023-08-02.

Paper, an education technology company, laid off 106 employees from its corporate headquarters team on August 1, 2023. This reduction affected roughly 4% of its total workforce. The company cited shifting market conditions in the education sector, where school districts are operating with tighter budgets, as the primary reason. To ensure long-term sustainability, Paper is optimizing its investments and organizational structure. The founders expressed that this difficult decision was made to strengthen the company's future position while acknowledging the impact on affected employees, who were offered a comprehensive separation package including severance, extended benefits, and continued platform access for their families.

Satellite-imagery and data-analysis company Planet announced a restructuring on Tuesday, laying off 117 employees, which represents about 10% of its workforce of approximately 1,000. The move is aimed at increasing focus on high-priority growth opportunities and improving operational efficiency to support the company's long-term strategy and path to profitability. CEO Will Marshall took responsibility for the decisions leading to the layoffs, citing that the company's expansion since its 2021 public listing had increased costs and complexity. This follows a lowered annual forecast earlier in the year due to a challenging macro environment.

Outreach representing approximately 5% of its workforce on 2023-08-01.

Indigo on 2023-08-01.

inDrive, a global ride-hailing and delivery service, laid off approximately 150 employees in early 2024, representing about 3% of its total workforce. The company cited a strategic restructuring to enhance operational efficiency and focus on core markets as the primary reason. This move reflects broader adjustments within the competitive tech and mobility industry, where inDrive operates as a mid-to-large-scale international firm. The layoffs were part of efforts to streamline operations amid evolving market demands and growth challenges.

Vesttoo, an Israeli insurtech startup, is laying off approximately 150 employees, which represents about 75% of its total workforce. This drastic reduction, announced in early August 2023, comes in the wake of a major fraud scandal involving an estimated $4 billion in allegedly fake letters of credit used in reinsurance transactions on its platform. CEO Yaniv Bertele stated the layoffs were a painful but necessary step to give the company a fighting chance at survival, preserving only a small core team for essential operations as it navigates the crisis and attempts to rebuild its business model aimed at revolutionizing the reinsurance industry.

Increff, a Premji Invest-backed SaaS startup in the logistics and supply chain industry, laid off approximately 60 employees, representing 20% of its workforce, last week as part of a cost-cutting drive to return to profitability. The layoffs affected multiple teams including tech, sales, customer success, and HR. The decision was driven by adverse macroeconomic conditions, failure to meet new client onboarding targets, and the unexpected challenges in its US and European expansion despite significant marketing investments. While the startup is not abandoning its international plans, it is shifting to a more partner-led sales approach and reducing marketing expenses to achieve financial sustainability.

Archipelago laid off 40 employees representing approximately 30% of its workforce on 2023-08-01.

Qoala, an Indonesian insurtech startup, laid off approximately 30 employees in early 2024 as part of a strategic restructuring to enhance operational efficiency. This reduction affected around 10% of its workforce, which totals about 300 employees. The company cited a need to streamline operations and focus on core business areas amid a challenging economic environment. Qoala operates in the financial technology and insurance industry, serving as a digital insurance platform that connects users with various insurance products. The layoffs reflect broader trends in the tech sector, where companies are adjusting to market conditions to ensure sustainable growth.

China's AI chipmaker Cambricon, through its autonomous driving chip subsidiary SingGo, has reportedly laid off nearly half of the software department employees, retaining only a core team. This significant reduction, occurring around July 2023, reflects the intense challenges within the semiconductor industry, particularly for Chinese AI chip developers facing operational hurdles and financial pressures despite the broader AI boom. The layoffs are part of a strategic adjustment as the company navigates a difficult market environment and strives to streamline its operations.

Kape Technologies laid off 200 employees representing approximately 30% of its workforce on 2023-07-30.

Eroad, a New Zealand-based telematics and transportation technology company, faced shareholder scrutiny during its annual meeting on July 28, 2023, amid a prolonged share price collapse and a takeover offer from Volaris, owned by Constellation Software. Chair Susan Paterson acknowledged the company's unsatisfactory performance, attributing it partly to market conditions and internal factors. While the article does not specify layoffs, the context highlights significant corporate challenges, including potential restructuring or strategic shifts as the company navigates financial pressures and a possible acquisition in the tech industry.

Homology on 2023-07-28.

Kape laid off 180 employees on 2023-07-28.