Layoff Events

FullStory representing approximately 12% of its workforce on 2022-09-13.

In September 2022, Finnish mobility-as-a-service company Maas Global, which had acquired the Brazilian urban mobility startup Quicko just six months prior, announced it was shutting down all operations in Brazil. This closure resulted in the layoff of all employees at the Brazilian headquarters. Following the acquisition, Maas Global had incorporated Quicko's team of over 60 employees. The shutdown of the Quicko app in cities like São Paulo and Rio de Janeiro marked a full exit from the Latin American market. The CEO cited a sudden change in financial markets and an inability to secure sufficient funding as the primary reasons, despite the startup having ambitious growth targets, including aiming for one million users. This pivot led the parent company to focus on partnerships in other regions instead.

Israeli HR tech startup Compete laid off 11 employees in September 2022, representing over a quarter of its 39-person workforce. The cuts affected HR, marketing, and sales teams across its Israeli and U.S. offices. This downsizing occurred just six months after the company secured a $15 million Series A funding round led by Tiger Global. Compete, which provides a real-time compensation and benefits benchmarking platform, cited the need to extend its financial runway due to a market slowdown and adverse macroeconomic conditions impacting the global tech industry. The move was framed as part of a plan to secure the company's long-term growth amidst challenging market dynamics.

Karbon, a company providing practice management software for accounting firms, has conducted a layoff affecting approximately one in four employees, as indicated in a LinkedIn post by CEO Stuart McLeod. The reduction is part of a strategic shift to support customers, product vision, and growth amid current economic uncertainty. While the exact number of employees laid off and the total workforce size were not specified, the post emphasized support for the impacted team members and mentioned creating a list of available talent for other employers. The announcement was made in 2021, reflecting challenges in the tech industry during a period of economic unrest.

Rent the Runway representing approximately 24% of its workforce on 2022-09-12.

Based on the provided article content, there is no mention of any layoff event at Sama. The content is promotional and focuses on the company's B Corp recertification, its 2024 impact report, its services in AI data annotation, and various blog resources. Therefore, a summary describing a layoff cannot be generated from this material.

Mode Analytics, a business intelligence and data analytics platform, has conducted a layoff affecting an unspecified number of its employees. The exact scale of the reduction, including the total workforce, percentage impacted, and precise date, was not detailed in the available report. The layoffs occur within the competitive data analytics and SaaS industry, where companies often adjust headcount to optimize operations and focus resources. As a venture-backed startup, Mode is navigating market pressures to streamline its business and achieve sustainable growth.

CommonBond, a fintech company specializing in student loans and solar financing, is winding down its operations after a decade, resulting in layoffs for its entire workforce. The company, which had grown to serve over 1 million users and employed hundreds, faced insurmountable challenges following the COVID-19 pandemic. The federal pause on student loan payments severely impacted its core student refinance business, leading to its exit from that sector earlier this year. While its newer solar financing division showed strong growth, CommonBond was still scaling and not yet profitable, requiring new capital that ultimately could not be secured. This inability to pivot the business quickly enough led to the decision to wind down, marking the end for the company once recognized among Fast Company's 50 Most Innovative Companies in 2018.

Lido Learning, an Indian edtech startup backed by prominent investors like Ronnie Screwvala, filed for insolvency and bankruptcy in September 2022. This followed the abrupt layoff of approximately 1,200 employees earlier in the year, a move that left many without final salaries. The company, operating in the competitive education technology sector, cited an inability to pay its debts as the reason for initiating the Corporate Insolvency Resolution Process. This event was part of a broader wave of layoffs across Indian startups in 2022, particularly in edtech, as companies faced financial strain after a period of rapid, pandemic-fueled growth.

SkipTheDishes laid off 350 employees on 2022-09-09.

DreamBox Learning on 2022-09-09.

In September 2022, Egyptian B2B e-commerce startup Capiter, which had raised a $33 million Series A round a year prior, faced severe turmoil. The company laid off at least 100 employees between June and July, representing a significant portion of its workforce, as it struggled with financial mismanagement and a rapidly dwindling runway. Concurrently, the board fired the CEO and COO, citing their inability to fulfill duties, failure to report during due diligence for a potential merger, and alleged fund mismanagement. Operating in the competitive African B2B retail and fintech space, the once high-flying startup, which had aggressively hired to reach ambitious targets, was left seeking a buyer to salvage the business amid a broader global downturn affecting tech startups.

On September 9, 2022, Australian fintech company Brighte laid off approximately 58 full-time employees, representing a 27% reduction of its Australian team. The layoffs resulted from the company's decision to close business units focused on longer-term, non-core projects, including offshore expansion plans and the development of certain tech platform capabilities. This restructuring aims to accelerate Brighte's pathway to profitability by focusing solely on its core sustainable home finance business, which provides point-of-sale financing for solar, batteries, and home improvements through a network of over 2,200 vendors. The move is intended to better position the company to navigate current market conditions while continuing its mission to make homes more sustainable.

Amber Group representing approximately 10% of its workforce on 2022-09-09.

In the summer of 2022, cannabis technology startup Flowhub laid off approximately 15% of its workforce, affecting about a dozen employees, primarily in operations, sales, partnerships, and customer service. The cuts, which took place in June and early July, were driven by a slowdown in legal cannabis sales in key markets like Colorado and California, increased competition, and a challenging fundraising environment for tech startups. Flowhub, founded in 2015 and backed by investors including Jay-Z, provides inventory tracking and sales processing services for cannabis retailers. The company cited restructuring due to its new product direction and macroeconomic conditions as reasons for the layoffs, aiming to ensure long-term market leadership. This move reflects broader struggles in the cannabis industry, where multiple firms have recently reduced staff amid declining venture capital investment.

In September 2022, Patreon, a membership platform for content creators, laid off its entire security team, confirming five employees were let go. The company did not disclose the total size of the security team prior to the layoffs or the specific reasons behind the decision, though it noted it works with external organizations for security capabilities. This occurred amid broader tech industry layoffs in 2022, attributed partly to over-hiring. Founded in 2013, Patreon reported having 250,000 creators on its platform. The layoffs drew attention from the security community, which responded by sharing job opportunities for the affected professionals.

GoStudent laid off 200 employees on 2022-09-08.

Genome Medical laid off 23 employees on 2022-09-08.

Pomelo Fashion laid off 55 employees representing approximately 8% of its workforce on 2022-09-08.

Pharmacy startup Medly is cutting nearly half its workforce, laying off around 200 employees as part of a restructuring effort. The company, which operates in the health care and technology industry, had grown rapidly but is now scaling back to streamline operations and focus on profitability. This significant reduction, announced in September 2022, reflects broader challenges in the startup sector amid shifting market conditions.

Danish company Simple Feast, which offered vegan and vegetarian meal kits and groceries, has declared bankruptcy, resulting in layoffs for all 150 employees. The closure, announced in September 2022, ends deliveries in Denmark, Sweden, and California. Co-founder and CEO Jakob Jønck cited the combined impact of pandemic-related shutdowns and the war in Ukraine as major challenges that led to the shutdown. Founded in 2014, the company had delivered around 5.5 million plant-based meals and raised nearly half a billion kroner in capital.

Intercom laid off 49 employees representing approximately 5% of its workforce on 2022-09-07.

Gold loan fintech startup Rupeek has laid off approximately 50 employees on September 7, marking its second round of workforce reductions this year after cutting 180 jobs in June, bringing the total to about 230 employees let go in 2022. This represents around 5% of its total workforce. The Bengaluru-based company cited a subdued macroeconomic environment and a strategic shift toward achieving profitability within the next 12-18 months as key reasons, aiming to adopt a leaner cost structure. Concurrently, Rupeek is in advanced discussions to secure $16 million in funding from existing investors like Sequoia Capital and Accel, having already raised $7.4 million to bolster its financial position and core operations.

Israeli chip startup Xsight Labs is laying off dozens of employees in September 2022, affecting staff in Israel and contractors in Eastern Europe across various departments. The company, which develops advanced chipsets for the communications market and has raised over $100 million, is making these cuts to adjust expenses and prepare for the coming years amidst broader tech industry challenges. The layoffs follow a recent CEO appointment and reflect a strategic shift to align with the current economic situation.

Uber is closing its engineering office in Vilnius, Lithuania, impacting approximately 60 software engineers. The decision, announced on September 7, 2022, is due to a lack of local senior leadership and challenges in hiring managers at the site. The closure is scheduled for June 2023, giving employees nearly a year's notice. Uber is handling the transition considerately, with no immediate layoffs, offering relocation support to other offices, and ensuring performance reviews and bonuses are completed. The Vilnius office, which focused on infrastructure and developer tooling, will see its teams and projects, such as Devpods, transitioned or discontinued.

Pendo laid off 45 employees representing approximately 5% of its workforce on 2022-09-07.

In early September 2022, food delivery giant foodpanda laid off approximately 60 employees in Singapore, representing about 5% of its 1,200-strong local workforce. The layoffs were part of a broader cost-cutting initiative by its German parent company, Delivery Hero, which aimed to achieve profitability (EBITDA-positive status) amid significant financial losses. This move occurred just months after foodpanda established Singapore as its regional headquarters and global tech hub. The company, which holds about 37% of Singapore's food delivery market, described the decision as painful but necessary to remain competitive, while offering support programs to affected staff. Similar job cuts were also reported in other regional markets like the Philippines and Thailand.

Cloud data warehouse unicorn Firebolt is laying off dozens of employees, the company confirmed in September 2022. While the exact number was not disclosed, the Israeli startup, which employs over 200 people across more than 20 countries, cited the global economic slowdown and new market conditions as the reason for the cuts. Despite having over $200 million in the bank and a recent $100 million funding round at a $1.4 billion valuation, CEO Eldad Farkash stated the company needed to streamline operations. Firebolt plans to continue investing in its core product, engineering, and field teams.

Based on the provided content, there is no information about a layoff event at the company Medium. The text appears to be a generic sign-up or login interface snippet, likely from LinkedIn, and contains no details regarding layoffs, company size, industry, or any related news. Therefore, a summary of a layoff event cannot be generated from this material.

Brave Care laid off 40 employees representing approximately 33% of its workforce on 2022-09-06.

Lawgeex, an AI contract review startup, is laying off approximately 30 employees, representing about one-third of its total workforce. This decision follows a strategic pivot and business model shift. The company, which originally focused on selling automation technology to large corporate legal departments, recently obtained a license to provide legal consultation. This allowed it to market a new product, superlegal.ai, to smaller businesses without legal teams. To streamline operations and aim for profitability for its core enterprise product, Lawgeex is restructuring, splitting into two product lines, which necessitates workforce adjustments across its Israeli and U.S. offices. The layoffs were announced in early September 2022.

In September 2022, proptech firm Juniper Square laid off approximately 14% of its workforce, equating to about 66 employees based on its reported total of 469 staff. The San Francisco-based company, which provides software for commercial real estate investment management, cited changing macroeconomic trends as the reason for the cuts, which primarily targeted the sales organization and other ancillary functions. Despite the layoffs, Juniper Square emphasized its strong financial position and plans to continue hiring aggressively in customer service teams. The move reflects broader challenges in the proptech sector, where rising interest rates and reduced real estate transactions have dampened demand and made capital raising more difficult.

In September 2022, Nigerian digital bank Kuda laid off approximately 23 employees, representing less than 5% of its then 450-person workforce. This move, part of a broader trend of workforce reductions among African tech startups, was driven by efforts to cut costs and extend the company's financial runway amid challenging macroeconomic conditions. Despite recently raising significant funding and planning expansions into new markets like Ghana, Uganda, and Pakistan, Kuda opted to streamline operations by eliminating redundant roles and addressing underperformance. The layoffs highlight the balancing act faced by fast-growing fintech firms, even those valued at $500 million and serving over 4 million customers, as they navigate economic headwinds while pursuing aggressive growth.

In a brutal week of layoffs during September 2022, Nigerian retail-focused startup Alerzo laid off over 100 employees, part of a broader wave of dismissals that saw more than 200 staff fired since May 2022. The company, operating in the e-commerce and logistics industry, cited performance issues as the reason, though employees described an atmosphere of fear and uncertainty, attributing the cuts to overestimation of hiring needs during expansion and fluctuating business demand. The layoffs primarily affected ground-level officers in logistics and loading roles, reflecting challenges in scaling operations amid market realities.

In September 2022, Singapore-based tech conglomerate Sea Limited conducted a second round of layoffs, primarily affecting its gaming division, Garena, and its R&D unit, Sea Labs. The cuts included approximately 40 positions from the live-streaming app Booyah! and about a dozen roles in experimental projects like public cloud and blockchain, which were subsequently halted. These measures were part of a broader strategic shift away from aggressive growth and international expansion toward cost-cutting and profitability, driven by increased market competition and economic volatility. As of late 2021, Sea employed around 67,300 people, making it Southeast Asia's largest tech firm. The layoffs followed an initial round in June and included revoked job offers at its Shopee e-commerce platform.

Berlin-based fitness startup Urban Sports Club has laid off 55 employees, representing 15% of its workforce, in an unexpected move driven by missed profitability targets. The company, which offers flexible sports memberships across multiple European countries, had initially focused on aggressive growth following the pandemic. However, due to challenging market conditions, including the energy crisis and inflation, it has shifted its strategy toward achieving profitability, particularly in Germany by year-end. The layoffs, which affect all brands under the group including OneFit and Fitogram, were described as fair by affected staff, who received market-standard severance packages. The company remains operational in Germany, Belgium, France, Portugal, Spain, and the Netherlands.

2TM laid off 100 employees representing approximately 15% of its workforce on 2022-09-01.

Healthtech unicorn Innovaccer, backed by Tiger Global and valued at $3.2 billion, laid off 90 employees on September 1, representing less than 8% of its workforce. The layoffs primarily affected the tech team, including managers and leads, and were attributed by the CEO to optimizing the cost structure amid current economic conditions. This move comes just nine months after the company doubled its valuation with a $150 million funding round. Impacted employees were offered a three-month severance package. The decision surprised many staff, as leadership had recently indicated strong performance.

Shopify laid off 70 employees on 2022-09-01.

Hedvig laid off 12 employees on 2022-09-01.

Apartment List, a real estate technology company, made the difficult decision to lay off approximately 10% of its workforce. The announcement was made by company leadership, who expressed gratitude for the contributions of the impacted employees, referred to as "A-Listers." While the exact number of affected employees and the total company size were not specified, the layoffs were framed as a necessary organizational change. The company emphasized its confidence in its ongoing strategy and commitment to innovation within the rental industry, while also offering to connect affected talent with new opportunities.

Koo, an Indian micro-blogging platform and a homegrown rival to Twitter, has laid off 15 employees, representing about 5% of its total workforce. The layoffs, which occurred in late August and early September, primarily affected operations and backend teams in north India. The company stated that these positions were made redundant due to performance issues and to align with current business requirements, describing the move as in line with industry standards. Amid a broader funding crunch in the startup ecosystem, Koo is simultaneously hiring in monetization, product, and engineering teams to prepare for its next growth phase. The company, backed by investors like Tiger Global, operates in the social media and technology industry as a startup.

GoodRx, a U.S.-based healthcare technology company known for its prescription discount platform, conducted a layoff affecting approximately 16% of its workforce in early 2023. This reduction, impacting around 140 employees, was part of a broader restructuring effort aimed at improving operational efficiency and reducing costs amid a challenging economic environment for the tech sector. The move reflects ongoing adjustments within the digital health industry as companies seek sustainable growth paths.

The German fintech company Smava, a Berlin-based consumer loan comparison portal, has laid off approximately 10% of its workforce, affecting nearly 100 employees out of a total of around 1,000. The staff was informed of the cuts yesterday, with the layoffs impacting virtually all departments, including IT and marketing. This move is part of an ongoing wave of job reductions within the German fintech industry, reflecting broader market adjustments and challenges in the sector.

Snagajob, an online job board platform for hourly workers, has laid off approximately 40 employees at its headquarters in Richmond, Virginia. The cuts were made in response to shifting market conditions and an uncertain economic outlook, as stated by CEO Mathieu Stevenson. While the exact percentage of the local workforce affected is unclear, the company emphasized its commitment to maintaining a presence in Richmond. Founded in 2000, Snagajob has undergone previous workforce reductions, including in 2018, and operates in the HR tech industry.

The Wing representing approximately 100% of its workforce on 2022-08-31.

TCR2 laid off 30 employees representing approximately 20% of its workforce on 2022-08-31.

Hippo Insurance, a U.S.-Israeli insurtech company specializing in home and property insurance, announced layoffs affecting 70 employees, which represents 10% of its workforce. The cuts, effective immediately in August 2022, are part of a restructuring effort amid significant stock decline and leadership changes, including the recent replacement of its founder as CEO. The company reported a severance package totaling approximately $4 million for the affected employees. This move follows a lowered revenue forecast and missed analyst expectations, reflecting broader challenges in adjusting its growth trajectory and operational costs.

Snap, the parent company of Snapchat, is implementing a significant workforce reduction, laying off approximately 20 percent of its employees. With a total workforce of over 6,400, this translates to around 1,280 job cuts. The layoffs, which began on August 31, 2022, are part of a broader restructuring effort to cut costs amid a sharp decline in the company's financial performance. Snap's stock price had plummeted nearly 80 percent since the beginning of the year, leading to this decisive action. The cuts are impacting various departments, including the hardware division responsible for Spectacles and the canceled Pixy drone, the team developing mini-apps and games within Snapchat, and the Zenly mapping app. This move follows a period of aggressive hiring during the pandemic and reflects the challenging economic environment facing the social media and technology industry.

Berlin-based event startup Artnight laid off 26 employees last week, representing over one-third of its workforce, which now stands at 46. Founder Aimie-Sarah Carstensen cited the challenging macroeconomic environment as the reason, expressing concern that consumers might cut back on discretionary spending for leisure activities like Artnight's painting workshops. The company, founded in 2016 and known from the TV show "Die Höhle der Löwen," had already struggled during the pandemic due to its initial reliance on in-person events. Although it temporarily shifted to online formats, Artnight has since refocused entirely on its original core business of offline workshops and discontinued other event formats to streamline operations. The layoffs affected all departments, including management, and were not driven by investor pressure, according to the founder.