Layoff Events

Vancouver-based online furniture retailer Article has laid off 216 employees, representing 17% of its workforce, marking the first such cuts in the company's 11-year history. CEO Aamir Baig took personal responsibility, explaining that the decision stemmed from a post-pandemic correction. While the company experienced a surge in e-commerce demand during COVID-19, the anticipated sustained shift to online shopping did not materialize, leading to a return to pre-pandemic trends. Baig stated the company had been "living beyond our means" and needed to resize to restore financial strength. The layoffs, announced in a statement from Baig, affect employees across North America. Departing staff, referred to internally as "Particles," will receive severance, extended benefits, and can keep their company equipment.

Indonesian edtech company Zenius conducted a significant layoff, impacting numerous employees across product management, research, growth, and design roles. The company cited the need to adapt to a challenging macroeconomic environment as the reason for the workforce reduction. While specific figures on the number laid off, total employees, or percentage were not disclosed in the post, the event was described as a "massive wave," indicating a substantial cut. The layoff occurred recently, as shared in a personal LinkedIn post, highlighting the human impact and the sudden departure of many talented colleagues. Zenius operates in the education technology industry.

StubHub, a major online ticket marketplace, laid off approximately 30 employees in early 2024 as part of a restructuring effort to streamline operations and improve efficiency. The cuts represented a small percentage of its global workforce, which numbers in the thousands. The move reflects broader adjustments within the live events and e-commerce industry as companies adapt to post-pandemic market conditions and focus on technological investments.

Medly, a pharmacy and healthcare delivery company, laid off approximately 16% of its workforce in a difficult round of cuts. The layoffs, announced by an executive in a LinkedIn post, affected employees across all departments, including product managers, designers, and software engineers. The decision was described as the hardest day of the executive's career, indicating internal restructuring or economic pressures as the likely context. The company, which operates in the competitive health-tech industry, undertook this reduction to streamline operations, though the exact total number of employees impacted was not specified in the announcement.

Brazilian fintech Nomad, which enables digital US bank accounts and investments, has laid off approximately 20% of its workforce, affecting over 50 employees. This reduction comes just three months after the company secured a $32 million funding round that valued it at over R$1 billion. The layoffs, announced by CEO Lucas Vargas in an all-hands meeting on August 3, 2022, were attributed to the global financial crisis impacting the company. Despite recent plans for expansion with a team of around 250, the cuts spanned multiple departments including operations, development, and customer experience. The fintech, launched in 2020, stated this restructuring aims to ensure long-term performance and preserve cash for future opportunities.

SoundCloud, the music streaming platform, announced layoffs impacting up to 20% of its global workforce in early August 2022, as confirmed by CEO Michael Weissman. This reduction, part of a significant company transformation, is attributed to the challenging economic climate and financial market headwinds, aiming to position the company for long-term sustainability and profitability. While the exact number of affected employees wasn't specified, the 20% cut follows a period of growth, including a profitable quarter in 2020 and an annual revenue run rate around $300 million. The company, which had previously laid off 40% of staff in 2017, is providing support to those transitioning and remains focused on its mission in the competitive music tech industry.

Talkwalker representing approximately 15% of its workforce on 2022-08-03.

Unbounce, a Vancouver-based landing page builder serving over 100,000 customers globally, has laid off 47 employees, representing 20% of its workforce of 234. The cuts, announced by CEO Felicia Bochicchio in late 2022, are part of a larger restructuring to navigate turbulent market conditions and invest with greater discipline. Affected teams include marketing, customer support, product development, and revenue operations, with the layoffs also impacting staff from recently acquired LeadsRX. The company cited the need to support its long-term purpose and strategy amid economic downturn pressures, offering severance and extended benefits to departing employees.

Beyond Meat laid off 40 employees representing approximately 4% of its workforce on 2022-08-03.

The Org, a professional community platform, laid off 13 employees from its New York-based team this week. This reduction, driven by the challenging economic climate, led the company to cut activities not directly supporting its core strategy. The layoffs affected roles across Revenue, Recruitment/Executive Search, and Editorial/Content Strategy/Journalism. While the total employee count and exact percentage were not disclosed, the company emphasized its commitment to supporting departing colleagues with severance, extended healthcare, financial planning assistance, and career networking aid.

CarDekho, a Ratan Tata-backed unicorn in the used-car marketplace industry, conducted layoffs in early August 2022 as part of a broader trend of startup job cuts amid a persistent funding crunch. While the exact number of employees affected was not officially disclosed, the layoffs targeted roles across junior and mid-senior levels, including retail associates and inspection engineers. The company framed the terminations as performance-based actions under a performance improvement plan (PIP), citing a shift in focus toward achieving profitability and creating leaner teams. This restructuring reflects the challenges faced by startups during a period of tightened investor funding.

Latch, a smart building software company, announced a workforce reduction on August 2, 2022, as part of a plan to improve operating efficiency. The layoffs affected approximately 115 employees, representing about 37% of its full-time workforce at the time. This move is aimed at refocusing the company on higher-margin activities and aligning its organizational structure with its business size. The reduction is expected to contribute to significant annualized operating savings, following similar changes announced earlier in May 2022.

Stedi, a company in the technology and API integration industry, recently conducted a layoff affecting an unspecified number of employees. The exact scale of the workforce reduction, including the total number of employees or percentage impacted, was not detailed in the available information. The layoffs appear to be part of broader operational adjustments, though the specific reasons and context remain unclear. The event occurred recently, but a precise date was not provided. Stedi operates as a smaller-scale tech firm focused on streamlining business integrations through APIs.

Edtech unicorn Vedantu laid off over 100 employees in early July 2022 as part of a business restructuring, marking its third round of layoffs this year. This follows earlier cuts of around 624 employees in May, bringing the total for 2022 to at least 724. The layoffs, affecting teams like sales and training, were driven by investor pressure to cut costs amid an economic downturn and a post-pandemic drop in user growth as schools reopened. Vedantu, which had about 5,900 employees in May, offered a two-month severance. The company, founded in 2014, had seen explosive growth during COVID but now faces a challenging market adjustment.

Outreach, a sales execution platform company in the B2B software industry, has laid off less than 5% of its workforce as part of operational adjustments to its strategic growth plan. While the exact number of affected employees is not specified, the reduction involves a small number of roles on certain teams, with the company simultaneously funding new positions elsewhere. CEO Manny Medina stated that this difficult decision, made to ensure focus on the company's mission and to weather upcoming economic challenges, will help Outreach extend its market leadership. The layoffs occurred recently, with the company emphasizing its commitment to supporting the impacted employees in their job searches.

In July 2022, Kenyan logistics startup Sendy laid off 10% of its workforce, affecting 30 employees out of a total of 300. The company, founded in 2015 and based in Nairobi, cited global economic pressures impacting tech companies as the reason, stating the move was part of a restructuring to drive efficiency and manage costs. This downsizing followed a broader trend in the African tech sector, where startups are facing reduced venture capital funding and economic headwinds. Sendy, which had raised $26.5 million and previously aimed for a $100 million round to expand into West and Southern Africa, also reportedly paused its expansion plans into Egypt and South Africa. The layoffs highlight the challenges faced by growth-stage startups in the logistics and transport industry amid a global tech downturn.

The Predictive Index, a company specializing in talent optimization and behavioral assessments, laid off 40 employees on Tuesday due to a reduction in force (RIF). While the exact total number of employees and percentage affected are not specified in the post, the layoffs impacted a group described as highly vetted professionals with strong cognitive and behavioral alignment to their roles. The event highlights the ongoing challenges within the tech and HR technology sectors, even for companies that emphasize values like teamwork and empathy. The post aims to support affected colleagues by showcasing their qualifications and connecting them with new opportunities.

Streaming-TV provider FuboTV conducted a small workforce reduction in its U.S. business on August 2, 2022, as part of a broader effort to adopt a more conservative approach to growth amid a deteriorating macroeconomic environment. The company, which operates in the competitive media and sports streaming industry, stated the layoffs were a difficult decision to ensure financial flexibility and focus on profitable growth. While the exact number of affected employees was not disclosed, the move reflects the challenges faced by the sports-focused, publicly-traded company, which has yet to achieve profitability despite significant revenue growth. The layoffs were effective August 15, coinciding with a period of increased scrutiny on media and sports stocks during an economic downturn.

On August 2, 2022, Nylas, a communications API platform company in the technology industry, announced a significant workforce reduction. The company's co-founder and CEO, Gleb Polyakov, stated that due to shifting economic dynamics and the need to ensure considerable financial runway during the downturn, the decision was made to lay off 80 employees. This reduction was framed as a strategic realignment to position the company with ample resources and flexibility to navigate the uncertain market and be ready for a future recovery. The leadership emphasized treating impacted employees with compassion, offering a severance package including two months of base pay, extended healthcare, job support, and other benefits.

Seegrid laid off 90 employees on 2022-08-02.

Glossier, a direct-to-consumer beauty brand, laid off approximately two dozen employees this week as part of an ongoing internal restructuring. This follows a previous round of layoffs earlier in the year that primarily affected tech staff. The company, which employs around 1,000 people globally, is pivoting its strategy to focus more on retail and wholesale distribution, including a new partnership with Sephora set to launch in early 2023. Under CEO Kyle Leahy, who took over in June, Glossier is reorganizing to support an omnichannel approach, shifting from its earlier DTC-exclusive model. While reducing roles in some areas, the company is simultaneously hiring for over a dozen new positions in retail, product, supply chain, and wholesale to align with this refined direction.

In August 2022, the retail investment fintech company Robinhood laid off approximately 23% of its workforce, affecting about 713 employees and reducing its total staff to roughly 2,400. This significant cut came just three months after the company had already reduced its workforce by 9%. CEO Vlad Tenev took responsibility, citing over-hiring during the 2021 market frenzy based on expectations of sustained high retail engagement. He explained that the deteriorating macroeconomic environment, including high inflation and a crypto market crash, led to reduced customer trading activity, making the earlier layoffs insufficient. The layoffs were concentrated in operations, marketing, and program management functions.

OnlyFans, the subscription-based platform known for adult content, has laid off an unspecified number of employees as part of a move to "reshape certain teams," announced in early August 2022. The company, which experienced explosive growth during the pandemic, cited this restructuring as necessary for its future and its creator community, offering affected staff severance and career support. While exact figures on the layoffs and total workforce weren't disclosed, the company had previously noted it was expanding its team by 2-3% monthly. This decision reflects broader adjustments within the creator economy, as OnlyFans navigates post-pandemic operations under new leadership, following a period where user and revenue numbers surged dramatically.

Oracle on 2022-08-01.

In August 2022, the educational technology company Classkick conducted a layoff, as indicated by a public spreadsheet tracking affected employees. The document lists at least 13 individuals across roles in engineering, product design, customer support, business operations, and recruiting who were impacted during the first half of the month. While the exact scale of the layoff relative to the company's total workforce is not specified in this data, the event reflects broader industry challenges and restructuring efforts common among EdTech firms during that period.

Indian agritech startup DeHaat, a soonicorn valued over $500 million, conducted layoffs in early August 2022, less than a year after raising a record $115 million. Founder and CEO Shashank Kumar confirmed the workforce reduction but disputed external reports of 500 job cuts, stating the number was not in the triple digits and attributing the action to performance corrections and culture misfits. With a total employee base exceeding 2,000 after rapidly adding 1,200-1,300 staff in the prior 14-15 months, the company aimed for profitability by March 2024 despite widening losses, highlighting the ongoing adjustments within the high-growth agritech sector.

In August 2022, Brazilian fintech Hash laid off 58 employees, representing over half of its team and leaving just 52 staff members. This drastic cut followed a previous round of layoffs in June and was driven by a critical financial situation. The company's CEO announced the decision via Slack, revealing that five months of failed fundraising efforts had pushed the startup to a breaking point, forcing it to consider a potential shutdown. Despite raising R$300 million in 2021 and being recognized as a promising fintech, Hash faced challenges with cash management and operational efficiency. The layoffs were a last-ditch effort to maintain minimal operations while the company evaluated final investment options or a closure plan by the end of the month.

Perceptive Automata representing approximately 100% of its workforce on 2022-08-01.

Whereby, a video conferencing platform, recently conducted layoffs as part of a strategic shift toward profitability and greater financial resilience amid challenging market conditions. The company did not disclose the exact number of employees affected, but the CEO publicly shared a list of impacted team members who opted to have their details shared. Whereby serves millions of users and maintains products like Whereby Meetings and Embedded. The layoffs, announced last week, reflect broader adjustments in the tech industry as companies prioritize sustainable operations.

Israeli volunteering platform startup Vee has laid off 16 employees, representing 30% of its 50-person workforce, as announced by CEO May Piamenta in a LinkedIn post on July 31, 2022. The company, which had raised $13.5 million in funding, including a $12 million Seed round just months prior, cited a need to ensure its long-term sustainability and commitment to its mission. Operating in the HR and social impact tech industry, Vee provides a platform for corporate volunteering. Piamenta took full responsibility for the difficult decision, emphasizing the unfairness to the team and urging other companies to hire the affected, talented individuals.

Metigy, an Australian marketing technology company, has entered administration, resulting in the layoff of its entire workforce of 75 employees. This represents a 100% reduction in staff. The company's collapse occurred in late 2022, as indicated by the social media post, and was attributed to financial difficulties leading to administration. The tech startup, which provided AI-driven marketing tools for small businesses, has ceased operations.

Sherpa, a company specializing in AI-powered visa and border crossing services, has laid off 22 employees. This reduction comes as the company aims to become less dependent on external venture capital funding, responding to a significant market shift where revenue-to-valuation multiples have sharply declined. The layoffs, described by leadership as an extremely difficult decision, are intended to ensure the company can continue fulfilling commitments to partners and customers. While the exact total workforce and percentage affected aren't specified, the move reflects broader challenges in the tech and venture capital landscape.

Indian urban mobility firm Ola is laying off approximately 1,000 employees as part of a major restructuring effort to sharpen its focus on the electric vehicle (EV) sector. The layoffs, ongoing as of late July 2022, affect various verticals including mobility, hyperlocal services, fintech, and used cars. Concurrently, the company is aggressively hiring for its EV business, planning to bring in significantly more talent for initiatives like lithium-ion battery cell manufacturing and electric car development. This shift represents a strategic repurposing of its workforce rather than mere cost-cutting, as Ola pivots away from some of its earlier super app ambitions to concentrate on its core electric mobility future.

Clearco, a Canadian FinTech company, has laid off 125 employees, representing about 25% of its global workforce, which it previously stated was around 500 people. The co-founders announced the cuts via email, citing the challenging macroeconomic environment as the primary reason. They described the move as necessary to ensure long-term sustainability and profitability, allowing Clearco to continue supporting founders. This follows a period of quiet downsizing and operational adjustments, including earlier layoffs in Ireland and fee increases for its startup loans. The layoffs reflect broader pressures in the tech industry, as companies like Shopify also reduce staff amid economic uncertainty.

In August 2022, ad tech firm Quantcast laid off approximately 6% of its workforce, affecting around 40 employees out of a total of roughly 700. The cuts were part of a global restructuring announced internally as the company, like many in the digital media and ad tech industry, faced economic headwinds and reduced advertiser spending. This move reflected broader sector-wide belt-tightening amid a challenging economic climate.

Chinese online grocery company MissFresh has suspended its core on-demand delivery service and initiated significant layoffs affecting the majority of its staff, as reported in late July 2022. The company, which went public on Nasdaq in 2021, cited a strategic shift to maximize profitability as it discontinues its fast-delivery model. This downsizing reflects the severe financial pressures and challenges in achieving profitability within the capital-intensive "distributed mini warehouses" model common in China's competitive online grocery industry. MissFresh will continue operating its second-day delivery and retail cloud services.

CoinFLEX on 2022-07-29.

Imperfect Foods laid off 50 employees on 2022-07-29.

Shelf Engine laid off 43 employees on 2022-07-29.

Australian property technology startup Yabonza has collapsed and entered liquidation in July 2022, resulting in the effective layoff of its entire workforce. The company, which had grown to a team of 20 employees, had dwindled to just three staff members in its final months. The liquidation followed the termination of a key service agreement by the company's financier. Operating in the proptech sector, Yabonza offered a tech-driven property management platform but ultimately succumbed to financial pressures, marking another casualty in a challenging period for the Australian tech startup scene.

Bikayi, a Sequoia and Y Combinator-backed retail tech startup based in Bengaluru, has laid off more than half of its workforce in recent months. From a peak of 500-600 employees in February 2022, the company reduced its headcount to just 244 by late July, representing a layoff of over 50%. This drastic downsizing follows a severe revenue decline, dropping from approximately INR 1.9 crore in April 2022 to under INR 10 lakh by July, amid fraud allegations, an exodus of sellers, and critical issues with its business model targeting small retailers. Facing operational failures and mounting challenges, Bikayi is now pivoting to focus on enterprise clients, despite a highly competitive landscape.

Turntide representing approximately 20% of its workforce on 2022-07-28.

Ribbon, a real estate technology company known as a "Power Buyer," laid off 136 employees on July 28, 2022, which represented about one-third of its workforce. The layoffs were part of a strategic move to find a clear and achievable path to profitability amid significant market volatility and shifting housing demands. Despite recently expanding into eight new states and more than doubling its market footprint, the company faced challenges as post-pandemic housing behavior revealed affordability issues and softened first-time homebuyer demand. Ribbon, which had raised $150 million in Series C funding and operates in 15 states, partners with agents and lenders to help homebuyers make cash offers. CEO Shaival Shah emphasized the need to adapt to the new market reality while continuing to expand into new areas and develop tools like RibbonHub to meet evolving needs.

In July 2022, following its acquisition by Lemonade, auto insurtech company Metromile laid off approximately 60 employees, representing about 20% of its staff. The layoffs were part of a synergistic integration, as the combined entity could operate with fewer people than the two standalone companies required. Metromile, which had gone public via a SPAC in 2021, was valued at just under $137 million at the time, a significant decline from its previous highs. The cuts, common in such business combinations, reportedly affected roles in product, engineering, and design teams, among others.

Career Karma, a learning navigation platform, laid off 60 employees earlier this week in July 2022, which reportedly affected about a third of its staff. The company, which connects students with bootcamps and training programs to enter the tech industry, now has over 120 remaining employees. The layoffs primarily impacted marketing and recruitment teams, while the C-suite was unaffected. CEO Ruben Harris cited the need to extend the company's runway amid a prolonged economic recovery in the tech sector, estimating it could last 3 to 4 years. Following a $40 million Series B round earlier in 2022, the startup aims to stretch its cash reserves, now having over three years of operating funds without requiring additional funding.

Laybuy laid off 45 employees on 2022-07-28.

In July 2022, online program management company 2U laid off 20% of its workforce as part of a restructuring following its merger with edX. The layoffs, which affected hundreds of employees, were a response to enrollment declines across higher education and the challenges of integrating edX. Concurrently, 2U announced a strategic pivot, reducing its core revenue-sharing fee for degree programs from over 60% to 35% and offering incentives for partner institutions to lower tuition. This shift aims to align the company more closely with industry competitors and address long-standing criticism of its pricing model. The changes reflect broader tumult in the online education sector, where 2U remains a major player despite these adjustments.

Brainbase, a modern technology platform for intellectual property and licensing management, underwent a restructuring in 2022 that returned control to its founders. As part of this move, the company raised $1 million in new capital and achieved profitability. While specific layoff numbers were not disclosed, the company acknowledged its team became "a bit smaller" due to the restructuring, which was driven by slowed growth in the licensing industry amid economic challenges. The restructuring aimed to ensure long-term sustainability, allowing Brainbase to continue serving major global brands with its platform.

Vox Media laid off 39 employees representing approximately 2% of its workforce on 2022-07-27.

Electric vehicle manufacturer Rivian announced layoffs affecting 6% of its workforce in late July 2022. This reduction, part of a broader restructuring effort, was driven by challenging economic conditions and the company's strategic need to optimize costs and improve operational efficiency as it scaled production of its electric trucks and SUVs. The move impacted hundreds of employees within the competitive automotive and clean transportation industry, where Rivian operates as a notable, publicly-traded startup.