Layoff Events

Noon laid off 340 employees representing approximately 10% of its workforce on 2023-04-18.

TRM Labs laid off 16 employees representing approximately 9% of its workforce on 2023-04-18.

Australian food delivery service CoLab has ceased operations and laid off its entire team in April 2023, following a failed financing round and an aborted acquisition attempt. The direct-to-consumer startup, which specialized in delivering products from restaurants, cafés, and bars, collapsed due to unforeseen events that truncated its timelines. Founded from a merger and operating in the competitive food delivery industry, CoLab's closure occurred alongside similar difficulties for other local delivery startups, reflecting broader economic challenges in the sector.

HR software unicorn Culture Amp has laid off approximately 90 employees, representing about 9% of its roughly 1,000-person workforce. The cuts, announced by CEO Didier Elzinga in April 2023, are a response to ongoing tough macroeconomic conditions, particularly as the company's own customers reduce their headcounts. Despite initially trying other cost-saving measures, the Melbourne-based tech firm ultimately had to downsize to ensure long-term sustainability. Affected employees finished their roles on April 26, as the company restructured to operate more efficiently amid a challenging market for the HR and tech industry.

In April 2023, Indian teen-focused fintech startup FamPay conducted layoffs as part of a restructuring effort, with reports indicating nearly 50 employees were let go to cut costs and extend runway, though the company's CEO stated the number was less than 10. This follows the Bengaluru-based neobank's last major funding round—a $38 million Series A in 2021—with no subsequent raises, amid challenges in scaling and controlling expenses, as evidenced by a significant loss of Rs 43.3 crore against minimal revenue in FY22. The company, which has over 10 million users and had raised about $42.7 million total, also saw several top-level exits and was reportedly exploring fundraising or M&A opportunities, which its CEO denied.

Swiss-based tech company Utopia Music is cutting around 100 jobs, representing about 15% of its global workforce, as announced in a staff memo on Monday. This is the second round of layoffs in six months, following a 20% reduction in November, as part of a strategic shift to focus on financial services for the music industry. The company, which has been restructuring and divesting some recently acquired assets, cites market conditions and the need to adjust after a period of rapid growth.

Polish mobile game developer Ten Square Games announced on April 17, 2023, that it will lay off approximately 120 employees, representing 25% of its workforce, by the end of the month. The company cited a challenging economy and an unstable mobile games market as reasons for the cuts. Concurrently, Ten Square Games is suspending development on two major projects, 'Undead Clash' and 'Fishing Masters', leading to significant financial write-downs. The move aims to refocus resources on its core titles, Fishing Clash and Hunting Clash, and prepare for scaling another project, Wings of Heroes. The decision surprised the market and contributed to a drop in the company's share price.

Kumu, a social media and live-streaming platform based in the Philippines, laid off approximately 30 employees in early 2024 as part of a strategic restructuring to enhance operational efficiency. This reduction affected around 5% of its workforce, which totals about 600 employees. The decision was driven by the need to streamline operations and focus on sustainable growth amid competitive pressures in the tech and social media industry. As a mid-sized company in the digital entertainment sector, Kumu aims to optimize resources while continuing to serve its user community.

Clearcover laid off 81 employees representing approximately 15% of its workforce on 2023-04-17.

Ynsect laid off 17 employees representing approximately 25% of its workforce on 2023-04-17.

Paper, an educational technology company, laid off 81 employees, representing roughly 3% of its total workforce and 15% of its corporate non-tutor team, on April 17, 2023. The layoffs were part of a proactive restructuring decision by the leadership to accelerate the building of a comprehensive Educational Support System. CEO Philip Cutler stated the move was made to focus the company's resources prudently and sustainably, aiming to broaden student support from kindergarten through graduation. Despite strong growth in tutoring, the restructuring is intended to better serve students in the long term, with the company noting it remains in a strong financial position.

Israeli offensive cyber company QuaDream is shutting down in April 2023, laying off its entire remaining workforce. The company, which developed spyware tools, had already dwindled to a skeleton crew, reportedly with only two employees left to maintain equipment. Its closure follows a damning report from Microsoft and Citizen Lab, which linked QuaDream's hacking tools to attacks on journalists and activists across at least ten countries. This research was described as the final blow for the company, which had been struggling for months. The board is now attempting to sell the firm's intellectual property.

Sayurbox, an Indonesian e-grocery startup, conducted a round of layoffs just before the Eid al-Fitr (Lebaran) holiday in April 2023. While the exact number of employees affected in this specific round was not disclosed, the company cited a need for operational efficiency and restructuring. This decision followed a previous layoff in December that impacted 5% of its workforce. The CEO explained that while the B2B segment grew strongly, the B2C consumer market did not expand as anticipated post-pandemic. Consequently, Sayurbox consolidated its B2C warehouses and streamlined delivery services, leading to workforce reductions primarily within the B2C team. The company emphasized the move was difficult but necessary for long-term sustainability and offered affected employees compensation packages and job search assistance.

In November 2022, trade financing fintech startup Drip Capital laid off approximately 20% of its workforce, affecting over 75 employees out of a total of 400. The company, which operates in India, the U.S., and Mexico and provides digital financing solutions to small and medium businesses, described the move as part of a restructuring exercise. The layoffs, which primarily impacted tech, engineering, and sales teams, left employees surprised as they had been told just two months prior that the business was performing well. This restructuring occurred about a year after Drip Capital secured $175 million in funding in October 2021. The layoffs reflect broader trends in the startup sector, where many companies, including Drip Capital, have taken steps to reduce costs amid challenging funding conditions.

OpenClassrooms representing approximately 25% of its workforce on 2023-04-14.

Calibrate, a weight-loss telehealth startup based in New York City, laid off approximately 100 employees, representing 18% of its workforce, as it shifts its business model amid rising competition. This marks the company's second round of job cuts in nine months, following a 24% reduction in July. The company is pivoting from offering obesity drug prescriptions directly to consumers to focusing on enterprise partnerships, where it provides benefits services to large companies. While it will maintain a direct-to-consumer presence, the move reflects strategic adjustments in the competitive telehealth and wellness industry.

The provided content appears to be a list of cryptocurrency prices and does not contain any information about layoffs at Community Gaming or any other company. There is no mention of employee reductions, company context, dates, or industry details related to a layoff event. Therefore, a summary of a layoff cannot be generated from this material.

Snyk, a developer security platform, laid off 128 employees, representing approximately 14% of its workforce, on April 13, 2023. The company, operating in the cybersecurity industry, cited persistent challenging market conditions expected to last into early 2024 as the primary reason. To adapt, Snyk is restructuring to focus more on enterprise customer success, solidify its application security leadership, and simplify its organizational layers for greater agility. The layoffs primarily affected the go-to-market and corporate functions as part of this strategic shift to prioritize a consultative approach and better serve its evolving enterprise client base.

Nigerian crypto payments startup Lazerpay has ceased operations and shut down entirely as of April 13, 2023, after failing to secure necessary funding. This follows layoffs announced in November 2022. The company, which was launched in 2021 to help businesses accept stablecoin payments, had onboarded over 3,000 businesses and processed over $1 million in transactions. Founder Emmanuel Njoku stated the difficult decision was unavoidable despite the team's efforts. Lazerpay is now advising merchants to withdraw their funds by April 30, 2023, and is open to offers from companies interested in purchasing its intellectual property.

Bluepad, a Bengaluru-based vernacular content platform, has shut down operations, resulting in the layoff of its entire team. The startup, which had raised $250K in pre-seed funding in 2021, was unable to secure further investment or establish a reliable monetization model. Founded in 2020 to serve as a "Medium for the non-English speaking population" with a focus on Marathi, Bluepad struggled to demonstrate strong user demand and sustainable revenue prospects. This closure reflects the broader challenges within India's startup ecosystem during a severe funding downturn, where many early-stage ventures have been forced to wind down.

Heygo, a London-based virtual travel platform founded in 2020, has permanently shut down this week after nearly three years in operation. The startup, which raised $20 million in venture capital in early 2022, was launched to offer virtual tours led by local guides during the pandemic. However, founder John Tertan stated that post-Covid, the market for virtual experiences wasn't large enough to sustain the business, leading to the decision to return capital and cease operations. The company had previously generated significant income for tour guides during lockdowns but ultimately couldn't maintain growth as travel resumed.

Mediafly, a revenue enablement software company, has conducted a layoff, letting go of a number of employees. The decision, announced by CEO Carson V. Conant, was made to achieve operational efficiency and profitability following an intense period of rapid growth through acquisitions. Over the past 15 months, the company doubled in size by acquiring five companies, leading to a need for restructuring and integration. While the exact number of affected employees and the percentage were not disclosed, the layoffs are part of a strategic shift to focus on customer commitment, product innovation, and financial discipline. The company is providing support and referrals to help the departing team members find new roles.

Science 37 laid off 140 employees on 2023-04-12.

Medtronic laid off 59 employees on 2023-04-12.

In April 2023, satellite internet company Viasat laid off approximately 300 employees globally, representing about 4% of its workforce. This included 72 positions at its Carlsbad headquarters and 35 remote workers in California, with the cuts becoming permanent in early June. The layoffs, affecting various technical roles, followed a strategic review and were partly due to the divestiture of its Link 16 Tactical Data Links business to L3Harris earlier that year. Viasat is undergoing a significant pivot, focusing on global expansion and enhancing space-based bandwidth with its new ViaSat-3 satellite series, while also pursuing a major acquisition of Inmarsat to strengthen its competitive position against rivals like Starlink.

In April 2023, Delhi-based electric vehicle startup Euler Motors laid off approximately 10% of its workforce, affecting around 50 employees out of a total of 500, as part of a restructuring effort. The company, which had raised $60 million in a Series C round led by GIC Singapore in late 2022, cited the need for a course correction amidst a challenging funding environment. Despite reporting strong year-on-year growth and a solid product order book, Euler Motors aimed to trim costs and improve financial sustainability, having seen its losses nearly double in the previous fiscal year. The layoffs reflect a broader trend among startups striving for profitability while scaling operations, with Euler targeting significant sales and production increases in the coming fiscal periods.

Acxiom on 2023-04-11.

Australian grocery delivery startup MilkRun is shutting down entirely, making all 400 employees and riders redundant as of April 14, 2023. This full closure follows a previous layoff of 20% of its staff in February, which was part of a consolidation effort. The company, which launched in 2021 and raised significant funding, cited deteriorating economic and capital market conditions as the primary reason. Despite building a strong brand and customer experience, the instant delivery startup could not achieve profitability at the required scale in the challenging post-pandemic investment climate, mirroring the fate of other local competitors in the industry.

Redfin laid off 201 employees representing approximately 4% of its workforce on 2023-04-11.

UK-based adtech firm Permutive, backed by SoftBank, announced a significant layoff this week affecting just under 80 employees, which represents about 40% of its total staff. This follows a previous round in August 2022 that cut 12% of roles. CEO Joe Root cited a challenging economic environment, an 80% drop in late-stage venture capital funding, and a need to prioritize profitability as reasons for the restructuring. The company, which provides audience segmentation and data clean room technology to publishers, is undergoing formal consultation processes in the UK and internationally. This move reflects broader pressures in the digital advertising industry, where slowing ad spend and rising costs have prompted widespread cost-cutting.

Chilean healthtech startup Examedi laid off approximately 45 employees, comprising 30 in Chile and 15 in Mexico, which represents about 25% of its workforce in those markets. The layoffs, announced in April 2023, were part of a restructuring aimed at improving business efficiency and achieving profitability, according to co-founder and CEO Ian Lee. The company, which had raised a $17 million Series A round in June 2022, stated the cuts would not affect its short-term plans in either country. This move reflects the broader challenging environment for startups, prompting adjustments to ensure sustainability.

Reforge, a company in the professional education and tech industry, has undergone a strategic shift leading to layoffs across multiple departments including engineering, product, marketing, recruiting, operations, accounting, and content development. The decision, announced by CEO Brian Balfour, was made to realign the company's focus toward delivering enhanced knowledge and support from industry leaders to its members. While the exact number of employees affected and the percentage of the workforce were not disclosed, the layoffs occurred as part of this broader restructuring. Balfour emphasized that the current cohort of programs would remain unaffected and committed to providing references and assistance to the departing team members.

Nori laid off 10 employees representing approximately 37% of its workforce on 2023-04-10.

Flock Freight laid off 45 employees representing approximately 8% of its workforce on 2023-04-10.

In April 2023, the buy-now-pay-later fintech startup Simpl laid off over 150 employees, which constituted more than 25% of its workforce. The Bengaluru-based company, which had raised $83 million in funding, undertook this significant cost-cutting measure to extend its financial runway and become a leaner organization amidst challenging economic conditions. The layoffs, communicated via email and a virtual town hall by the CEO, affected staff across various departments. This move followed a period of rapid growth and mounting losses, reflecting broader pressures within the BNPL industry.

Practo, a healthtech startup with over 1,600 employees, has laid off 41 staff members, representing a small percentage of its workforce, as part of its ongoing performance management process. The company stated the decision was based on performance issues and not a broader restructuring, emphasizing its commitment to supporting affected employees. Despite the layoffs, Practo reported record-high revenues, margins, and profits, and plans to hire 500 new employees in the coming year. This move aligns with a trend of retrenchments in the Indian healthtech sector, where several startups have conducted layoffs amid funding challenges and performance evaluations.

Pear Therapeutics, a pioneering digital therapeutics company, has filed for Chapter 11 bankruptcy and is terminating 170 employees, representing about 92% of its workforce. The Boston-based firm, which went public in 2021, will continue operating with a skeleton crew of 15 employees as it seeks a buyer for its assets. This drastic move follows the company's struggle to build a sustainable business model for its software-based treatments, having previously conducted layoffs and paused pipeline development in 2022 after failing to secure necessary funding.

Workit Health laid off 100 employees on 2023-04-07.

ZestMoney, a Goldman Sachs-backed buy-now-pay-later (BNPL) fintech platform with around 450 employees, is planning significant layoffs across departments following the collapse of its acquisition deal with Walmart-backed PhonePe. The deal fell through in late March 2023, leaving the company in financial distress and forcing it to adopt a survival plan that includes workforce reductions. While the exact number of employees to be laid off is not yet specified, the founders have actively sought outplacement assistance for the impacted staff. The layoffs are a direct consequence of the failed acquisition, which has created an immediate liquidity crisis for the company.

Berlin-based electric cargo bike sharing startup Avocargo has ceased operations and laid off all 16 remaining employees after failing to find a buyer following its February 2023 insolvency filing. The company, which had offered app-based rentals, attributed its collapse to a failed funding round and a difficult market environment for mobility startups, with investors wary of the sharing economy's high losses. Founded a few years prior, Avocargo initially benefited from pandemic-driven demand and political interest in cargo bikes but ultimately could not achieve profitability. The service was officially discontinued on April 3, 2023.

Absolute Software, a cybersecurity firm specializing in self-healing security solutions, implemented a restructuring plan on April 4, 2023, to reduce operating expenses. The company laid off approximately 40 employees, representing about 5% of its total workforce, and plans to reduce office space. This move is expected to incur non-recurring charges between $1.8 million and $2.8 million, primarily for severance and facility-related costs, with most actions to be completed by the end of its fiscal 2023 fourth quarter.

Amplitude, a product analytics software company, announced on April 5, 2023, that it is laying off 13% of its global workforce, affecting 99 employees. The layoffs primarily impact the go-to-market organization, with additional cuts in product development, finance, and HR. The decision, attributed to macroeconomic challenges and a need to achieve profitability, was communicated by the co-founders. Affected U.S. employees' last day was April 5, while those in EMEA and APJ regions depart on April 6. The company is offering severance, extended healthcare, career support, and other benefits to assist with the transition.

Dunzo, a Reliance Retail-backed quick commerce startup, has laid off approximately 30% of its workforce, affecting around 300 employees, as part of a restructuring effort to conserve cash and move toward profitability. This significant reduction follows a previous round of job cuts earlier in the year. Concurrently, the company has secured $75 million in funding through convertible notes, with major contributions from Reliance Retail and Google. The layoffs and funding are part of a broader shift in Dunzo's business model, reflecting the challenges faced by startups that expanded rapidly during periods of easy capital. The news emerged in recent reports, highlighting the ongoing adjustments in India's competitive quick commerce industry.

On April 4, 2023, Boost, a fintech/insurtech startup, announced a difficult layoff affecting 15 employees, representing about 20% of its team. CEO Alex Maffeo cited a dramatic shift in the macroeconomic landscape and technology market, which has particularly impacted the fintech sector, forcing the company to adapt its growth and budgeting approach for long-term success. Despite the company's history of strong execution and hyper-growth over the previous two years, the extreme market conditions necessitated this reduction. Boost is providing severance, extended benefits, and career support to the departing employees.

Auckland-based e-commerce software company Cin7 is laying off approximately 15% of its workforce, affecting around 45 employees out of a total of just under 300. The consultation process is concluding this week. The layoffs reflect a post-pandemic adjustment, as the company acknowledges that the explosive e-commerce growth during COVID-19 lockdowns has normalized to pre-pandemic levels amid broader economic turbulence. Founded in 2011 and owned by US private equity firm Rubicon Technology Partners since 2019, Cin7 provides inventory management solutions for businesses selling on platforms like Amazon. The company had expanded rapidly through acquisitions and hiring during the pandemic boom but is now restructuring in response to shifting market conditions and a slowdown in the sector.

Foundation Medicine laid off 135 employees on 2023-04-04.

Australian financial comparison website Finder has laid off approximately 40 employees in its second round of redundancies within three months, following an earlier cut of about 15% of its 500-strong workforce in February. This latest restructuring, aimed at simplifying operations and focusing more resources on the Australian market, reflects the ongoing downturn in the technology industry, exacerbated by Finder's troubled cryptocurrency ventures. The layoffs, confirmed in late March 2023, highlight broader challenges in the sector, where companies like Mr Yum are also implementing repeated job cuts to extend cash reserves amid difficult fundraising conditions.

In April 2023, Indian kirana tech startup 1K Kirana laid off a significant portion of its workforce as part of a major business restructuring. While the company officially stated it let go of 40% of employees, sources indicated the cuts were much deeper, affecting over 600 people—approximately 60-70% of a workforce that had been over 1,000 following a 2022 funding round. This left the company with only about 200 employees. The layoffs, which began in November 2022 and continued through March 2023, impacted teams across on-ground operations, warehouse, delivery, network operations, growth, and tech. The restructuring was driven by changed growth forecasts, a withdrawal from several geographies, and difficulties in raising fresh funding as investors shifted focus toward profitability.

On April 3, 2023, San Francisco-based fintech startup Guideline, a provider of 401(k) plans for small and medium-sized businesses, laid off 48 employees, which constitutes 11.5% of its workforce. The company, which had experienced rapid growth and raised significant funding, did not officially announce the layoffs or provide a reason, leading to speculation about financial challenges or a strategic shift. Despite its previous expansion and employee-friendly reputation, this move indicates potential operational streamlining or difficulties in the competitive startup landscape.

View Inc., a SoftBank-backed smart glass manufacturer, laid off approximately 170 employees, representing about 23% of its workforce, as part of drastic cost-cutting measures. The Silicon Valley startup, which went public via SPAC in 2020, is facing severe financial distress, having lost hundreds of millions in recent years and warning it lacks funds to cover upcoming obligations. Struggling with massive losses and a stock price below $1, the company is also at risk of Nasdaq delisting. These layoffs, reported in early April 2023, aim to extend its financial runway while it seeks additional funding to survive.