Layoff Events

TheSkimm, a millennial-focused newsletter publisher, laid off approximately 22 employees, representing about 13% of its workforce, in early May 2023. This marked the company's second round of cuts this year, following a previous layoff of 17 people in January. The affected roles included top sales executives and creative leaders. The layoffs are attributed to a persistently challenging advertising market, with digital media facing significant revenue declines. Founded in 2012 and based in New York, TheSkimm expanded from its core newsletter into podcasts and other content but has struggled to diversify revenue and secure new funding amid slowing growth.

Brightcove laid off 70 employees representing approximately 10% of its workforce on 2023-05-03.

Cars24, an Indian used car marketplace unicorn in the automotive e-commerce industry, has laid off nearly 100 employees in Indonesia as part of its decision to shut down operations in the country and Saudi Arabia. This move, announced in early May 2023, is a strategic shift to focus resources on core markets like India, Australia, Thailand, and the UAE. The layoffs follow a broader cost-cutting trend, as the company had previously let go of 600 employees across various verticals in May 2022 to reduce expenses and automate operations. Despite raising significant funding, including a $450 million round in 2021, Cars24 has faced financial pressures, with losses increasing to INR 248 crore in FY22, prompting a retreat from recent international expansions to prioritize sustainable growth in its established markets.

Cybersecurity firm Bishop Fox laid off approximately 50 employees, representing 13% of its workforce, on May 2, 2023. The company, which had around 400 employees prior to the cuts, cited the global economic situation and a need to improve business efficiency as reasons for the restructuring. This move came just days after the company hosted a party at the RSA cybersecurity conference, an event that had been planned months in advance. CEO Vinnie Liu stated that while demand for their solutions remains solid, the company is responding to market uncertainty and investment trends. Bishop Fox operates in the cybersecurity industry and continues to plan for future industry events.

Vallai, a data and AI governance startup, has effectively shut down, resulting in the layoff of its entire team. The closure occurred around the time of co-founder Charlotte Ledoux's LinkedIn post in 2022, marking the end of the company's venture. As a typical early-stage startup, the scale was small, and the shutdown aligns with the high failure rate for new companies, with Ledoux noting that 90% of startups fail within their first two years. The primary reason was the company's inability to sustain itself, leading to this wind-down. The team expressed gratitude to investors like Techstars and incubators including STATION F, while Ledoux transitioned into freelance work in the data and AI governance field.

Zoomo laid off 27 employees representing approximately 8% of its workforce on 2023-05-02.

Commercial real estate finance startup Lev has laid off 34 employees, as reported in May 2023. This follows a previous round of roughly 30 layoffs late last year. The company, which operates a platform using AI to connect property borrowers with lenders, has been impacted by a significant industry slump driven by rising interest rates, which has choked off commercial real estate lending and reduced transaction volumes. Founded in 2019, Lev had previously secured substantial venture capital, including a $70 million Series B round. The layoffs reflect broader challenges in the proptech and commercial real estate sectors amid economic tightening.

PharmEasy, a Temasek-backed healthtech startup in India, laid off an unspecified number of employees in early May 2023. The move comes as the company navigates a challenging market environment, having recently withdrawn its plans for an initial public offering (IPO) and seeking to raise funds at a lower valuation. While exact figures on the scale of the layoffs and total workforce are not provided in the available content, the restructuring reflects broader pressures within the healthtech and startup sectors as companies adjust their strategies for sustainable growth.

SAS laid off 250 employees on 2023-05-01.

Vah Vah, a vocational training startup in India's edtech industry, laid off 150 employees in April this year before quietly shutting down operations. The company, founded in 2020 by former Zynga India head Shailesh Daxini, had raised $3 million in total funding from investors like Sequoia Capital India. The layoffs, which reportedly led to police intervention, came after Vah Vah reported a loss of INR 7 crore in FY22. The shutdown reflects broader challenges in the edtech sector, where many startups that grew rapidly during the pandemic are now struggling with weak unit economics and a funding winter.

In late April 2023, automation and data startup Cogito laid off 177 employees in India, representing a significant portion of its local workforce, which totals over 1,500. The layoffs, which constituted over 10% of its Indian staff, were triggered when a major client abruptly decided to scale down its operations, leaving the employees' project scrapped. The sudden terminations, which included 85 probationary staff, sparked protests at the company's Noida office, with affected employees alleging a lack of prior notice and unpaid salaries. However, Cogito's management refuted these claims, stating that full April salaries were paid and that the employees were satisfied with the company's handling of the situation. This event occurred against the backdrop of a challenging funding environment for Indian startups, forcing many to reduce costs to extend their financial runway.

Berlin-based digital bank N26 announced layoffs affecting 71 employees in late April 2023, representing about 4% of its then workforce of over 1,700. The fintech company cited significant and lasting changes in the global business environment as it moves to sharpen its focus on strategic priorities and adjust its personnel structure accordingly. This move, part of a broader trend of job cuts in the fintech sector, comes as N26 aims to achieve profitability by 2024, following reported losses and regulatory growth constraints. The affected employees are to receive comprehensive severance packages.

Embark Vet laid off 28 employees on 2023-04-28.

Providoor, an Australian online marketplace for high-end restaurant food delivery co-founded by celebrity chef Shane Delia, has entered liquidation as of late April 2023. The startup, which rapidly expanded during the COVID-19 lockdowns by partnering with restaurants in multiple cities, has effectively shut down, resulting in the layoff of its entire workforce. While exact employee numbers were not disclosed, the closure marks a significant exit from the competitive food delivery and restaurant technology industry, highlighting the challenges faced by venture-backed startups in the post-pandemic landscape.

Cue Health laid off 326 employees representing approximately 30% of its workforce on 2023-04-28.

Poparazzi, the photo-sharing app that briefly topped the App Store charts in 2021, is shutting down as of May 2023, effectively resulting in layoffs for its entire team. The company, which had grown to a team of 15 employees following a $15 million Series A funding round in 2022, cited declining user engagement and a pivot to an unsuccessful new app, "Made with Friends," as contributing factors. Operating in the competitive social media industry, the startup failed to sustain its initial hype despite its innovative concept of allowing users to only post photos of their friends. The closure was announced via a Medium post, with the app set to be discontinued and user data available for download until June 30, 2023.

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Cork-based corporate communications software firm Poppulo announced in late April 2023 that it is cutting 21 roles in Ireland, along with 11 in the UK and 53 in the US, as part of a restructuring in response to the changing economic climate and a need to re-evaluate its cost base. The company, which serves over 4,500 global customers, expressed optimism for the future despite the layoffs, stating the move would position it more strongly to seize upcoming opportunities.

Clubhouse representing approximately 50% of its workforce on 2023-04-27.

In April 2023, the fintech and investment research platform Tickertape, which is backed by Smallcase, laid off 29 employees, constituting approximately 30% of its workforce. The layoffs were part of an internal restructuring, a move the company stated was influenced by a challenging funding environment that has impacted many startups. Tickertape, a platform providing tools and analysis for stocks and mutual funds, had raised $5 million in seed funding in late 2021. The company reported a loss of Rs 16.4 crore against revenue of Rs 3.01 crore for the fiscal year ending March 2022, highlighting the financial pressures within the competitive fintech sector.

Chief, a professional network for women leaders, laid off 43 employees, representing 14% of its staff, on April 27, 2023, as part of a restructuring effort in response to the challenging economic environment. The company, which operates in the professional networking and community industry, now has around 262 remaining employees. The layoffs primarily affected U.S. staff, sparing its smaller U.K. presence. In an email to employees, co-founders cited a focus on enhancing member experience through in-person opportunities, personalization, digital simplification, and embedding diversity and inclusion. This move follows recent scrutiny over the company's stance on social issues, as it continues to serve its 20,000-member base.

On April 28, 2023, Rebellion Defense, a company developing advanced software for national security, announced a reduction in its workforce. The layoffs were a difficult decision made by CEO Chris Lynch, aimed at evolving the organization's customer delivery approach, refocusing product investments for software-defined defense, and extending the company's financial runway amid a challenging macroeconomic environment. While the exact number of employees laid off and the total workforce size were not disclosed in the announcement, the move reflects a strategic shift to prioritize core capabilities and ensure long-term impact for its defense technology customers.

Rad Power Bikes, a prominent U.S. direct-to-consumer e-bike brand, has conducted its fourth round of layoffs within a year as of April 2023, though the exact number of employees affected this time was not disclosed. This follows previous reductions of 100 employees in April 2022, 63 in July, and another undisclosed round in December. The company, which had positioned itself as the world's best-funded e-bike brand after raising $329 million by late 2021, cited ongoing economic challenges and market realities as reasons for the cuts. These measures aim to steer the company toward sustainability amid a downturn, despite its past rapid growth. Leadership changes also preceded this, with founder Mike Radenbaugh stepping down as CEO in November 2022 to focus on advocacy, succeeded by Phil Molyneux.

Airtasker laid off 45 employees representing approximately 20% of its workforce on 2023-04-27.

Alteryx, a big-data analytics company with around 2,900 employees, announced in late April 2023 that it would lay off approximately 11% of its workforce, affecting about 320 staff primarily in sales, marketing, and administrative roles. The decision came alongside mixed first-quarter earnings, where revenue grew but missed expectations, and a weak second-quarter outlook. The layoffs are part of a cost-reduction plan aimed at improving operating margins and accelerating profitability, despite an expected charge of $11-13 million. The company operates in the enterprise software and ETL tools industry, serving large customers with data analytics platforms.

Vroom, an online used car retailer, laid off approximately 800 employees, which represents about 90% of its workforce, as part of a significant restructuring effort. This drastic reduction, announced in early 2024, comes as the company shifts its focus away from its e-commerce operations and used vehicle transactions to concentrate on its automotive financing and services businesses. The move reflects ongoing challenges in the digital used car sales industry, where Vroom, once a notable player, has struggled with profitability and market conditions.

Oddle, a Singapore-based food and beverage technology company, laid off approximately 15% of its workforce in June 2023, affecting around 30 employees out of a total of about 200. The decision was part of a strategic restructuring to streamline operations and focus on core business areas amid challenging market conditions in the tech industry. As a mid-sized startup in the F&B SaaS sector, Oddle aimed to enhance efficiency and ensure long-term sustainability through this difficult adjustment.

Greenhouse, a leading HR technology company in the talent acquisition software industry, announced a difficult layoff on February 24, 2026, affecting nearly 100 employees in the U.S., which represents about 12% of its workforce. The decision was driven by deteriorating market conditions and a more severe economic downturn than initially expected, despite the company's strong growth history, approaching $200 million in revenue and serving over 7,000 customers. To ensure business stability, Greenhouse is reducing costs, particularly in sales and marketing, while focusing on preserving core functions like customer success and product development. The company is providing support to departing colleagues, including severance and benefits assistance.

Dropbox, a cloud storage and collaboration company, announced a significant workforce reduction in April 2023, laying off approximately 500 employees, which represents about 16% of its global workforce. CEO Drew Houston cited a combination of slowing growth due to economic headwinds and the urgent need to pivot resources toward the AI era as primary reasons. The company aims to reallocate investments from less sustainable areas to skill sets focused on AI and early-stage product development, acknowledging both market pressures and internal performance challenges. This restructuring reflects Dropbox's strategic shift to compete in the rapidly evolving tech landscape while maintaining profitability.

Montréal-based construction tech startup RenoRun has ceased operations and terminated its entire workforce after failing to secure financing or a last-minute acquisition. The company, which provided an e-commerce marketplace for building material delivery, entered insolvency proceedings in late April 2023. While the exact number of employees laid off is not specified, the shutdown implies all staff were affected as the company halted operations. Founded in 2016, RenoRun had expanded across North America but faced significant fundraising challenges in late 2022, with investors like Tiger Global not providing further support. Its assets are now being sold through a court-supervised process, with a goal to complete a transaction by mid-May.

Extramarks, a Reliance-backed edtech startup, laid off over 300 employees in mid-April as part of a restructuring effort to shut down its loss-making B2C business vertical. The layoffs, which primarily affected teams in sales, customer support, HR, marketing, tech, and content, were driven by significant financial losses, with the company reporting a net loss of INR 104.8 crore in FY21. Following the pandemic, a shift back to offline learning led to declining admissions and increased cash burn in the B2C segment. While Extramarks will continue serving existing B2C students, it will now focus entirely on its core B2B operations, which involve digitizing schools with educational content via LED screens. The company, founded in 2007 and headquartered in Delhi NCR, has not disclosed its total employee count, but the layoffs reflect a strategic pivot amid challenging market conditions in the edtech industry.

Teampay laid off 30 employees representing approximately 33% of its workforce on 2023-04-26.

Edtech startup Skill Lync has laid off over 400 employees, representing more than 20% of its workforce of over 2,000, as part of a restructuring effort last week. The company, backed by Iron Pillar, cited challenging macroeconomic conditions and a need to moderate growth expectations, leading to role redundancies. Affected staff came from sales, marketing, tech, and talent acquisition teams. This follows earlier layoffs of 300-400 employees and office closures in Mumbai and Pune, with the Delhi NCR office also now shut. Skill Lync is consolidating operations in Chennai, Bengaluru, and Hyderabad amid a broader funding crunch in the edtech sector.

Rapid, formerly known as RapidAPI, a San Francisco-based API marketplace startup valued at $1 billion last year, has laid off approximately 115 employees, representing 50% of its workforce. The cuts, announced in late April 2023, are part of a significant restructuring under new CEO Marc Friend, who stated the company had grown too large and tried to compete on too many fronts, sacrificing agility. The layoffs affected teams across sales, talent acquisition, engineering, product, and marketing in offices spanning Europe, Tel Aviv, and San Francisco. This move aims to right-size the company, refocus its product strategy, and prioritize customer success in the competitive tech industry.

BigPanda, an Israeli AIOps unicorn, laid off approximately 40 employees, representing 13% of its workforce, in late April 2023. The company, which provides AI-driven event correlation and automation for IT operations, cited the need to streamline and restructure due to the challenging macroeconomic environment. This move aims to reduce the annual burn rate and ensure long-term financial strength, despite having raised $207 million recently and achieving a $1.2 billion valuation. The layoffs are part of a restructuring that also included new executive appointments, with the company reaffirming its commitment to its core product strategy and mission in the enterprise AIOps market.

Red Hat, a Raleigh-based software giant, announced layoffs affecting hundreds of employees on April 24, 2023. The cuts represent 4% of its global workforce, which totals around 19,000 employees, translating to approximately 760 jobs lost. This move is part of a broader trend of workforce reductions within the technology sector, as companies adjust to changing market conditions. The announcement highlights ongoing shifts in the industry, with Red Hat joining other tech firms in streamlining operations amid economic uncertainties.

The German rapid grocery delivery startup Flink has conducted a significant round of layoffs, reportedly cutting a substantial portion of its workforce. While the exact number of employees affected is not specified in the accessible content, the article indicates the company has grown large and then become small again under the quiet leadership of CEO Oliver Merkel. The layoffs are contextualized within the broader challenges facing the quick-commerce industry, which has seen widespread consolidation and cost-cutting as companies adjust to post-pandemic market realities and investor pressure for profitability. The event underscores the ongoing turbulence in the on-demand delivery sector.

Utah-based tech company Pluralsight conducted another round of layoffs this week, following a previous reduction of about 400 employees in December. The exact number of workers affected in this latest round has not been disclosed by the company. Pluralsight, a high-tech "unicorn" from Utah's "Silicon Slopes," is known for its online education platform and had previously moved some jobs to India. The layoffs are part of ongoing restructuring efforts within the tech industry.

Benchling laid off 74 employees representing approximately 9% of its workforce on 2023-04-21.

Ride-hailing company Lyft is laying off 1,072 employees, which represents about 26% of its corporate workforce, as part of a broader restructuring effort. The cuts, confirmed in an SEC filing in late April 2023, follow a previous 13% reduction in November 2022. New CEO David Risher, who began his tenure earlier that month, stated the move aims to streamline operations and refocus on better serving riders and drivers. With approximately 4,000 total employees, this significant reduction reflects ongoing pressures in the tech industry, where many companies are prioritizing efficiency amid economic challenges. Lyft's stock has struggled since its IPO, and the layoffs coincide with the company not filling an additional 250 open positions.

In April 2023, Indian neobanking unicorn Open laid off 47 employees, citing performance-based reasons amid a broader slowdown in fintech funding. The company, which became India's 100th unicorn in May 2022 after a $50 million Series D round, stated the layoffs were part of efforts to cut costs and extend its financial runway, with its founders also taking a 50% salary cut. While Open emphasized it is still hiring in key areas like growth marketing and product, affected employees reported abrupt dismissals with only one month's notice pay as severance. The firm, backed by Google and investors like Temasek, saw its losses widen to Rs 167 crore in FY22 despite revenue growth, reflecting the challenging market conditions prompting this restructuring.

Lenovo on 2023-04-20.

Israeli AI-powered talent marketplace startup Gloat has laid off approximately 35 employees, representing 12% of its total workforce of around 300 people. The company, which operates in Israel, the U.S., India, and Singapore, announced the cuts in April 2023, citing challenging market and economic conditions over the past year. Gloat, which had raised $90 million in a Series D round in June 2022, stated the move was a responsible action taken out of commitment to its mission and customers. The company provides a workforce agility platform used by major global enterprises.

Following a strategic review, Australian fintech firm Iress announced a management restructure and a 10 per cent reduction in its workforce in April 2023. The job cuts are part of a plan to refocus on core software offerings in financial advice, trading, and market data. The company aims to reinvest in its technology, enhance connectivity in wealth and trading platforms, and explore opportunities in AI and data analytics. This restructuring is intended to bring the company closer to its clients and drive higher accountability and performance across its operations.

BuzzFeed is shutting down its BuzzFeed News division and laying off approximately 180 employees, representing 15% of its workforce, as announced by CEO Jonah Peretti in April 2023. The decision stems from the division's inability to achieve profitability, with Peretti citing overinvestment in a model dependent on social media platforms that failed to provide sufficient financial support. The digital media company will now consolidate its news efforts into HuffPost, which it acquired in 2020 and describes as profitable and less reliant on social platforms. While layoffs affect nearly all divisions, BuzzFeed.com will continue operating, and the company plans to focus on innovation involving creators and AI, though it states no jobs are being replaced by AI.

Koo, the Indian microblogging platform and Twitter rival, has laid off approximately 30% of its workforce over the past year, affecting around 78 employees from its total of 260. The three-year-old startup cited the challenging market environment and global economic slowdown as key reasons, stating it needed to adopt a more efficient and conservative approach. Despite the layoffs, which occurred throughout 2023, the company emphasized it provided support to affected staff. Koo, backed by investors like Tiger Global and Accel, noted it is well-capitalized after a recent funding round and is focusing on revenue growth, claiming strong monetization metrics within India's competitive social media industry.

Insider, the digital media company, announced layoffs affecting 10 percent of its staff in April 2023, a move driven by challenging economic conditions and a significant decline in advertising revenue. The decision, communicated by company leadership, reflects broader struggles in the media industry as it adapts to an erratic economy. While the exact number of employees impacted wasn't specified, the cuts were part of an effort to keep the company healthy and competitive. Affected U.S.-based employees received severance packages, and the company noted that its international teams were not affected by this round of layoffs.

F5 laid off 623 employees representing approximately 9% of its workforce on 2023-04-19.

WalkMe, a digital adoption platform company, conducted its second round of layoffs in 2023, cutting 112 employees, which represents approximately 10% of its workforce. This follows an earlier layoff of 43 employees in January. CEO Dan Adika cited macroeconomic challenges and the need to build a leaner, more efficient organization to achieve profitability and long-term growth. The company, which went public on Nasdaq with a $2.5 billion valuation, is focusing its efforts on larger organizations with over 500 employees, moving away from small and medium-sized businesses. These difficult decisions aim to align the company with current economic realities and ensure sustainable success in the competitive tech industry.

Opendoor, a major iBuying company in the real estate technology industry, announced on April 18, 2023, that it is laying off 560 employees, representing 22% of its workforce of approximately 2,545. This reduction, primarily affecting operations roles, is a response to a sharp downturn in the housing market, driven by rising mortgage rates that have led to a significant decline in new listings. The company, which previously cut 550 jobs in November, is making these cuts to align operational costs with the current market reality while continuing to invest in technology for long-term growth.