Layoff Events

Zoom announced plans to lay off approximately 1,300 employees, representing about 15% of its workforce, as part of a restructuring effort to adapt to post-pandemic economic uncertainty. CEO Eric Yuan cited the need for sustainable growth and acknowledged past missteps in team management. Affected employees will receive severance packages, while Yuan will reduce his salary by 98% and forgo his bonus. This move aligns with broader tech industry layoffs, reflecting shifting market demands as remote work trends normalize.

SecureWorks laid off 212 employees representing approximately 9% of its workforce on 2023-02-07.

Salesloft laid off 100 employees representing approximately 10% of its workforce on 2023-02-07.

Sana Benefits, a health insurance startup, has laid off approximately 19% of its workforce as part of a restructuring effort to adapt to the current challenging macroeconomic and funding environment. The layoffs, announced by CEO and Co-Founder Will Young in a message to employees, come despite the company's recent growth, strong customer retention, and a $60 million Series B funding round raised in May. Leadership stated that while past investments focused on accelerating growth and product development, the company now needs to reorient for leaner times to ensure long-term sustainability and continue its mission of reducing healthcare costs. The decision impacts valued colleagues, with the company emphasizing support for departing team members.

In early February 2023, the revenue-software unicorn Clari, valued at over $2.6 billion, conducted its second round of layoffs within a year, cutting more than 20 roles. This followed a previous reduction in August 2022. The layoffs were part of a broader wave of job cuts across the tech industry, which saw over 84,000 positions eliminated in January 2023 alone. Clari, backed by major investors like Sequoia and Blackstone, made these cuts abruptly, catching many employees by surprise. The move reflects ongoing adjustments as tech companies, including fellow unicorn Workato which also laid off staff, brace for economic uncertainty and shift focus toward profitability after periods of rapid growth.

Dell laid off 6,650 employees representing approximately 5% of its workforce on 2023-02-06.

C6 Bank, a Brazilian digital bank and fintech, laid off an unspecified number of employees on Monday, February 6, 2023. The layoffs, described by the company as "readjustments" to enhance efficiency and align with business needs, were negotiated with the banking union. While the exact figure was not disclosed, the company, which serves 22.9 million clients and has an estimated workforce of around 4,000, stated it plans to continue hiring throughout the year, aiming to add 800 new professionals by the end of 2023. This move places C6 Bank among other fintechs and tech companies in Brazil that have recently reduced their staff.

Loggi, a Brazilian logistics unicorn startup, has conducted its second round of mass layoffs in about six months, announcing on February 6, 2023, that it is cutting 7% of its workforce. With an estimated 3,500 employees, this reduction affects approximately 300 people. The company stated the move is part of efforts to enhance operational efficiency and focus on strategic initiatives for business sustainability. This follows a previous layoff in August 2022, when 15% of staff were let go. Despite these cuts, Loggi reported growth of over 50% between 2021 and 2022, highlighting its continued expansion in the logistics sector.

In February 2023, digital entertainment company Pocket Aces laid off 50 employees, representing 25% of its 200-person workforce, as part of a shift to a leaner operating model aimed at achieving profitability. The layoffs, affecting content, production, and post-production teams, are intended to reduce costs and streamline operations, with the company planning to outsource certain functions while focusing more on creator-led short-form content. CEO Aditi Shrivastava stated the move would help Pocket Aces reach operating profit in the 2023-24 financial year, with affected employees receiving financial support, health insurance, and outplacement assistance.

VinFast US laid off 80 employees on 2023-02-06.

South Asia's leading e-commerce platform Daraz has laid off 11% of its workforce due to extremely difficult market conditions, as announced by CEO Bjarke Mikkelsen. The decision, aimed at preparing the company for current realities and ensuring long-term growth, comes after a period of strong expansion where active shoppers grew from 3 million to over 15 million in five years. However, challenges including the war in Europe, supply chain disruptions, soaring inflation, and reduced government subsidies have forced Daraz to refocus on core business, simplify its organization, and improve profitability. The layoffs are part of a broader effort to adjust to a lower growth outlook and prioritize strategic investments for the future.

TenureX, an Israeli fintech startup, has shut down after exhausting its funding. The company, which developed a platform for correspondent banking, had previously employed around 20 people at its peak. Over the past seven months, it conducted successive layoffs as it failed to secure new investment, ultimately leading to its closure in early February 2023. Founded in 2020, TenureX had raised $5 million but could not complete a new funding round amid a tough economic climate and shifting investor sentiment, despite having a product and clients. The shutdown reflects the broader challenges faced by startups during the downturn.

Drift laid off 59 employees on 2023-02-06.

Fintech startup Lightico has laid off 20 employees, representing 25% of its 80-person team, in its second round of workforce reductions, following a similar cutback in March 2022. CEO Zviki Ben Ishay cited the need to achieve profitability and conserve cash amid a challenging market, despite no slowdown in business. The company, which provides mobile e-signature and document solutions, aims to control its destiny and be ready for future fundraising when conditions improve. Lightico had raised $27 million in a Series B round led by Capital One Ventures in 2021.

Kyruus laid off 70 employees on 2023-02-05.

Protocol Labs laid off 89 employees representing approximately 20% of its workforce on 2023-02-03.

Finder representing approximately 15% of its workforce on 2023-02-03.

Built Technologies copy representing approximately 8% of its workforce on 2023-02-03.

Eightfold AI laid off 90 employees representing approximately 15% of its workforce on 2023-02-03.

Microsoft-backed SaaS logistics startup FarEye has laid off 90 employees this week in its second round of job cuts within eight months, citing macroeconomic headwinds and the need to align its business strategy with market demand. The layoffs impacted various departments including tech, product, and sales across its global offices. This follows a previous round in June last year that affected around 250 employees. Despite a 53% increase in operational revenue to INR 97.6 Cr in FY22, the company's net loss widened significantly to INR 232.5 Cr. FarEye, which provides last-mile delivery automation software to clients like Domino's and Tata Steel, continues to focus on product innovation while offering severance packages to those impacted.

Okta laid off 300 employees representing approximately 5% of its workforce on 2023-02-02.

Sharesies on 2023-02-02.

Autodesk laid off 250 employees representing approximately 2% of its workforce on 2023-02-02.

Articulate, a prominent e-learning software company, laid off approximately 90 employees in early 2024, representing about 10% of its workforce. The company, which provides tools for creating online courses, cited a strategic restructuring to streamline operations and focus on core product development amid a shifting market. This reduction follows broader industry trends where tech companies are adjusting their headcounts to improve efficiency and align with current economic conditions.

In February 2023, Seattle-based cryptocurrency exchange Bittrex laid off more than 80 employees, a significant workforce reduction attributed to the severe market downturn and collapse within the crypto ecosystem, including the failure of FTX. CEO Richie Lai cited the need to reset strategy and balance investments in a new economic environment. These cuts affected most departments and were part of a broader wave of layoffs across the crypto industry, which saw tens of thousands of jobs lost as companies like Coinbase and Gemini also downsized in response to declining cryptocurrency prices and adverse market conditions.

Desktop Metal on 2023-02-02.

Highspot laid off 100 employees representing approximately 10% of its workforce on 2023-02-02.

NCSoft representing approximately 20% of its workforce on 2023-02-02.

Talkdesk, a cloud contact center and unified communications provider, laid off a significant portion of its workforce in early February 2023 amid broader economic challenges. While the exact number was not officially confirmed, affected employees suggested up to 20% of the staff could be impacted, which would equate to roughly 400 employees from its global team of approximately 2,000. The layoffs primarily affected roles in the United States across customer success, channel management, and solutions engineering. This move occurred as the company, valued at $10 billion in 2021, expanded into the competitive unified communications space, reflecting industry-wide pressures that also saw major cuts at firms like PayPal, HubSpot, Google, and Microsoft during the same period.

Rapid grocery-delivery startup Getir laid off approximately 100 corporate employees in the United States at the end of January 2023, reducing its US corporate workforce from about 260 to 160 employees. This represents a significant cut of around 38% of its corporate staff in the region. The layoffs, affecting departments like legal, operations, HR, fleet, and finance, are part of broader operational challenges and restructuring following Getir's acquisition of rival Gorillas. The company is consolidating operations, which may lead to further store closures and job cuts as it eliminates overlapping locations. This marks the second round of layoffs for Getir since it cut 14% of its global workforce in May 2022, reflecting ongoing struggles in the competitive rapid-delivery industry, including issues with timely employee payments and strict performance metrics.

On February 2, 2023, Miro, a collaborative online whiteboard platform, announced a layoff affecting 119 employees, representing 7% of its total full-time workforce. The decision was driven by the need to adjust to the macroeconomic environment and align the company's structure with its forward strategy. CEO Andrey Khusid explained that after a period of significant growth and hiring, Miro is moderating recruitment and reducing expenses to invest in future priorities. This resulted in structural changes, particularly impacting the recruiting and go-to-market teams. Despite the layoffs, Miro emphasized its profitable business model and commitment to supporting affected employees during the transition.

In February 2023, British cybersecurity firm NCC Group announced plans to reduce its global workforce by 7%, affecting over 125 employees. The company, which employs around 1,800 people and is listed as an FTSE Mid Cap firm, cited challenging market conditions and delays in revenue recognition, particularly in the UK and North America, as key reasons for the layoffs. The job cuts, largely focused in those regions, are part of an ongoing strategic review and are expected to incur a one-off implementation cost of £4 million. Despite reporting strong first-half earnings growth, the company adjusted its annual outlook to anticipate single-digit revenue growth.

Snowplow, a data analytics company, announced layoffs affecting an unspecified number of employees as part of its adaptation to a challenging global economic environment. The decision, shared by co-founder Alexander Dean, was described as a difficult but necessary step to secure the company's future. While the exact scale of the reduction in workforce was not disclosed, the company emphasized its commitment to supporting affected team members in finding new roles during a tough market for tech workers. Snowplow expressed confidence in its ongoing opportunities and appreciation for the trust of its team and stakeholders, maintaining focus on long-term success and customer value.

Peer-to-peer car-sharing company Getaround laid off 10% of its workforce, affecting approximately 42 employees, as part of a restructuring plan announced on February 2, 2023. With a total of 421 employees, the cuts targeted North American teams across all departments. The move aims to achieve sustainable profitability and long-term growth, responding to an uncertain macroeconomic outlook that has particularly impacted tech firms. This restructuring follows a delisting warning from the New York Stock Exchange due to low stock prices and is expected to save the company $25–30 million annually. Getaround, which went public via a SPAC merger in late 2022, operates in the transportation industry as a mid-sized company facing financial challenges, including a significant cash burn and declining revenue.

Mindstrong laid off 127 employees on 2023-02-02.

In February 2023, the Indian edtech giant Byju's conducted another significant round of layoffs, letting go of nearly 1,500 employees. This follows a previous round in October 2022 that affected about 2,500 staff. The layoffs primarily impacted the design, engineering, and production teams, with the company citing cost optimization and plans to outsource various functions, including operations and customer care. This move occurs amidst a broader funding crunch in the startup ecosystem and Byju's own substantial financial losses, as the unicorn seeks a path to profitability. The process was reportedly abrupt, with affected employees receiving in-person notices.

Canadian AI unicorn Ada, a customer service automation startup with approximately 480 employees, conducted its second round of layoffs on February 1, following an initial 16% reduction four months prior. While the company did not disclose the exact number affected this time, describing it only as "a portion" of its workforce, the cuts included senior leadership such as the chief technology officer. Ada cited the need to pivot and respond to an uncertain and challenging macroeconomic climate, aiming to better position the company for future success. This move reflects a broader trend in the tech industry, where multiple rounds of layoffs have become common as companies adjust from the boom periods of 2020 and 2021.

Match Group representing approximately 8% of its workforce on 2023-02-01.

Pinterest laid off 150 employees on 2023-02-01.

Frequency Therapeutics representing approximately 50% of its workforce on 2023-02-01.

Wheel laid off 56 employees representing approximately 28% of its workforce on 2023-02-01.

Picnic on 2023-02-01.

Omnipresent, a global employment platform, has undergone a company-wide reorganization, resulting in layoffs. While the exact number of employees affected and the percentage were not disclosed in the announcement, the company is actively assisting its departing team members by sharing an "OmniAlumni" list to connect them with new opportunities. The reorganization was announced by co-founders Guenther Eisinger and Matthew Wilson, reflecting a strategic shift within the HR tech industry. The company is known for its highly selective hiring process.

Rivian representing approximately 6% of its workforce on 2023-02-01.

MariaDB, the open-source database company, has laid off approximately 26 employees, which represents about 19% of its workforce. This restructuring, announced in early 2024, is part of a strategic shift to focus on its core SkySQL cloud database service and achieve profitability. The layoffs, affecting the broader technology and database software industry, follow a period of financial challenges for the publicly traded company as it adapts to competitive cloud market dynamics.

Chainalysis laid off 44 employees representing approximately 5% of its workforce on 2023-02-01.

Exterro laid off 24 employees representing approximately 3% of its workforce on 2023-02-01.

Appgate laid off 34 employees representing approximately 8% of its workforce on 2023-02-01.

Splunk laid off 325 employees representing approximately 4% of its workforce on 2023-02-01.

VerticalScope, a Toronto-based digital media company, laid off 60 employees, representing 22% of its workforce, in early February 2023. This downsizing was part of a broader trend of tech sector cutbacks, driven by economic uncertainty and a significant business downturn. The company, which operates over 1,200 enthusiast community websites, reported a sharp decline in fourth-quarter revenue, particularly in e-commerce and digital advertising, prompting a restructuring to prioritize key opportunities and adjust its cost structure.