Layoff Events

AppLovin laid off 300 employees representing approximately 12% of its workforce on 2022-06-27.

SafeGraph, a geospatial data company, has laid off approximately 25% of its workforce as part of a broader effort to reduce cash burn and extend its financial runway. The decision, made in the context of a challenging economic environment for tech companies, was described as incredibly difficult by leadership, who emphasized the talent and dedication of the affected employees. The layoffs reflect a strategic shift to conserve capital, as the company aims to position itself to act on future growth opportunities when market conditions improve. This move highlights the broader deflationary pressures within the tech industry, where companies are prioritizing financial sustainability.

UiPath, a leading provider of automation software, is laying off approximately 5% of its workforce, affecting about 210 employees out of a total of 4,200 as of April 30, 2022. The company's board approved the restructuring on June 24, 2023, with most cuts expected by the end of July, aiming to increase profits and streamline its go-to-market organization. This move, estimated to cost $15 million in severance, reflects a strategic shift toward sustained, profitable growth under new senior management, despite recent positive earnings. The layoffs are not attributed to market conditions but to internal prioritization for higher sales productivity and better market segmentation.

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B2B ecommerce unicorn Udaan has laid off around 180 employees as part of cost-cutting measures to enhance efficiency and achieve sustainable growth, confirmed in June 2023. While the company stated the layoffs affected approximately 180 staff, some sources suggest the number could be as high as 600. Founded in 2016 and based in Bengaluru, Udaan operates as a major platform connecting SMEs, wholesalers, and retailers across India, with a network spanning 900 cities. The layoffs follow a $250 million debt funding round raised just six months prior, highlighting the ongoing adjustments in the competitive Indian startup landscape to refine cost structures and pursue profitability.

In June 2022, fintech unicorn Amount laid off 18% of its workforce, affecting approximately 72 employees based on its reported total of 400 staff. The company, valued at over $1 billion in 2021 and spun out from online lender Avant, cited the challenging macroeconomic environment as the reason for these proactive adjustments to ensure long-term health. Operating in the enterprise software sector for banking, Amount helps financial institutions digitize their infrastructure rapidly. Despite significant funding and partnerships with major banks, the firm took this step to navigate economic uncertainties and sustain future growth.

Postscript, a marketing automation platform for e-commerce brands, laid off approximately 20 employees in January 2024, representing about 10% of its workforce at the time. The company, operating in the competitive SaaS and e-commerce technology industry, cited a strategic restructuring to improve operational efficiency and focus on long-term profitability. This move was part of a broader trend of workforce adjustments in the tech sector as companies navigated economic uncertainties.

Bestow laid off 41 employees representing approximately 14% of its workforce on 2022-06-24.

Sunday laid off 90 employees representing approximately 23% of its workforce on 2022-06-24.

Give Legacy on 2022-06-24.

Bitpanda laid off 270 employees representing approximately 27% of its workforce on 2022-06-24.

Ethos Life laid off 40 employees representing approximately 12% of its workforce on 2022-06-24.

In June 2022, text message marketing startup Voyage SMS laid off eight employees, representing over 10% of its roughly 60-person workforce. The cuts included the chief operating officer and affected the full-time sales department and some contractors. CEO Rev Reddy cited the challenging macroeconomic climate and a shift in strategy toward growth efficiency as key reasons. The Santa Monica-based company, which had recently raised $10 million and acquired a rival, faced indirect pressure as consumer discretionary spending on ecommerce declined amid rising inflation, impacting its business integrated with platforms like Shopify.

Israeli-US startup Pipl, a fake profile detection platform, laid off 22 employees on June 23, 2022, affecting operations, sales, maintenance, and customer service roles. This represents about 13% of its workforce of 160-170 employees. The layoffs are part of a strategic shift toward full automation of its product, which helps social networks like Twitter identify fake profiles. Concurrently, Pipl is hiring 50 new employees in development, product, data, and automation fields to support this transition. The company, founded in 2005 and profitable with $19 million in funding, expects sales to remain stable or even increase following the launch of its automated ranking product.

Orchard, a real estate technology company, laid off 10% of its workforce due to mounting economic uncertainty and a challenging market climate. The decision, announced in a LinkedIn post, was described as one of the hardest the business has made, aimed at ensuring the company has sufficient runway to continue its mission. While the exact number of employees affected wasn't specified beyond the 10% figure, the company expressed deep gratitude for their contributions and committed to supporting them, including by sharing a list of impacted employees open to new opportunities.

StreamElements representing approximately 20% of its workforce on 2022-06-23.

Kune, a foodtech startup, has ceased operations, resulting in the layoff of its entire 90-person team. The company, which had grown to serve over 6,000 customers, was forced to shut down due to unsustainable business conditions. Despite selling more than 55,000 meals since the beginning of the year, pricing meals at $3 proved insufficient to cover rising food costs and maintain margins. Additionally, the current economic downturn and tight investment markets prevented Kune from securing its next funding round, ultimately leading to its closure. The founder expressed deep regret and is assisting the displaced employees in finding new opportunities while exploring the sale of the company's intellectual property and assets.

Esper representing approximately 12% of its workforce on 2022-06-23.

Netflix is laying off approximately 300 employees, representing about 3% of its workforce, as confirmed in June 2022. This follows an earlier round of 150 layoffs a month prior, both driven by the company's first subscriber loss in a decade and a strategic shift to align costs with slower revenue growth. The streaming giant, part of the technology and entertainment industry, had warned investors it would moderate spending growth while still investing heavily in content. These cuts reflect broader adjustments as Netflix explores ad-supported tiers and addresses password sharing to reignite subscriber growth amid challenging market conditions.

In June 2022, healthcare unicorn Ro laid off 18% of its workforce to manage expenses and align resources with its strategy, despite having raised $150 million at a $7 billion valuation months earlier. The cuts, which notably affected much of the recruiting team, were announced abruptly via Zoom, with impacted employees receiving two months of severance and healthcare benefits. This move followed executive departures and internal tensions, as the company struggled to generate significant revenue from newer products beyond its established ED line. Ro had been preparing for a potential downturn by narrowing its focus and securing additional capital solely from existing investors.

Aura laid off 70 employees representing approximately 9% of its workforce on 2022-06-23.

Mark43, a New York-based public safety software startup valued over $1 billion, laid off approximately 100 employees in late June 2022. The cuts affected various roles, including sales, community operations, and program management, as the company restructured. Mark43, which provides cloud-based records and dispatch systems to police departments globally, had raised $101 million in a funding round the previous year. The layoffs, while unexpected for staff, were part of broader adjustments within the tech industry, impacting a significant portion of its workforce at the time.

Balto laid off 30 employees on 2022-06-22.

Australian instant grocery delivery startup Voly has laid off more than half of its head office staff in early June, a severe cutback driven by a challenging funding environment. The company, which operates in the competitive on-demand grocery delivery sector, has also abandoned its 15-minute delivery promise and closed half of its warehouse sites. As a capital-intensive startup in the food retail industry, Voly has been hit hard by rising interest rates, inflation, and a cautious investment climate, making it difficult to secure the substantial funds needed for growth. This reflects a broader downturn in the tech sector, where rapid expansion is no longer sustainable without profitability.

IronNet, a cybersecurity company founded by former NSA director Keith Alexander, is laying off approximately 90 employees, which represents 35 percent of its workforce of 250. This significant reduction follows a previous 17 percent layoff in June and comes as the company raises a "going concern" warning, stating it may not have sufficient cash to support operations for the next year. The layoffs, announced in late 2022, are part of a restructuring effort to cut costs amid mounting net losses, which reached $28.4 million in the second quarter. The firm, which went public in 2021 with a $1.2 billion valuation, is also replacing its CFO and eliminating one of its co-CEO positions as it faces severe financial challenges and a plummeting stock price.

In June 2022, MindGeek, the parent company of Pornhub, implemented layoffs affecting an unspecified number of employees as part of a major restructuring. This followed the resignations of CEO Feras Antoon and COO David Tassillo. The layoffs were driven by cost-cutting measures after the company faced significant revenue declines over the previous 18 months. These financial struggles were largely due to a series of controversies, including reports that Pornhub had hosted nonconsensual and child sexual abuse material, leading to payment processors like Visa and Mastercard cutting ties. While the exact number laid off was not disclosed, rumors suggested significant cuts, though the company denied claims of over half its workforce being affected. MindGeek, a major player in the online adult entertainment industry, had around 1,600 employees globally at its peak.

Sprinklr, a publicly traded customer experience software company in the martech industry, laid off at least 50 employees from its global marketing department in late June. This restructuring, which occurred under the leadership of its new CMO, Arun Pattabhiraman, is part of a broader effort to drive more efficient and profitable growth. The cuts, representing a small fraction of its workforce of over 4,000, reflect ongoing challenges in the tech sector, where companies are adjusting to economic pressures like slowing growth and rising costs. Despite recently reporting a 31% year-over-year revenue increase, Sprinklr joins numerous other tech firms in streamlining operations to navigate the current market environment.

On June 22, 2022, the online education platform MasterClass laid off approximately 120 employees, representing 20% of its then 600-person workforce. CEO David Rogier cited the need to adapt to a worsening macroeconomic environment and accelerate the company's path to financial self-sustainability. The layoffs affected staff across all teams, though no C-suite executives were included. The startup, which gained popularity during the pandemic for its celebrity-taught video classes, offered a severance package including 11 weeks of base pay, extended healthcare, and career support.

Voi laid off 35 employees representing approximately 10% of its workforce on 2022-06-22.

Ritual, a Canadian food delivery and restaurant technology company, laid off 23 employees. The layoffs were announced by CEO Ray Reddy in a LinkedIn post, who described it as a difficult day for the team. While the exact percentage of the workforce affected and the total employee count were not specified in the announcement, the move reflects the ongoing challenges within the tech industry. The company expressed gratitude for the contributions of the departing staff and actively encouraged other employers to reach out to connect with the affected talent.

In June 2022, amid widespread startup layoffs and an industry-wide struggle for profitability, the micromobility company Superpedestrian reduced its global workforce by 7%, laying off 35 employees. This move was part of a company-wide effort to cut costs and accelerate its path to profitability, reflecting the challenging environment for growth capital at the time. Superpedestrian, which operates shared scooter fleets, emphasized its continued commitment to serving its cities despite the staff reduction.

Community, a creator economy startup that enables influencers and brands to text their fans directly, laid off approximately 40 employees earlier this month amid a broader economic downturn. The company, which has raised $90 million in venture funding and serves notable clients like Paul McCartney and Addison Rae, made these cuts as part of industry-wide challenges affecting tech and media firms. While the exact percentage of its workforce impacted isn't specified, the layoffs reflect tightening conditions in the startup sector, following similar moves by companies like Cameo and Jellysmack. Community differentiates itself by offering SMS-based marketing tools that bypass social media algorithms, but it now faces headwinds like many others in the creator economy space.

In June 2022, code intelligence platform Sourcegraph conducted a downsizing, laying off 8% of its team. The layoffs were executed with transparency and care, described as the complete opposite approach to secretive layoffs seen at other tech firms like Tesla. While the exact number of employees affected wasn't specified, the move was part of a broader trend of adjustments within the tech industry during a period of market uncertainty. The company, a high-growth startup in the developer tools sector, handled the process in a way that industry observers suggested could serve as a model for other companies.

Ebanx laid off 340 employees representing approximately 20% of its workforce on 2022-06-21.

Bengaluru-based edtech startup SuperLearn, which operated a webinar-style online learning platform for children aged 3-13, shut down its operations earlier this year. The company, founded in 2020, laid off its entire workforce as it ceased operations, impacting all employees. This closure occurred amid a broader slowdown in the edtech sector, driven by diminishing investor interest, rising user acquisition costs, and a decline in demand as schools reopened post-pandemic. SuperLearn had raised $300,000 in pre-seed funding and had attracted over 40,000 users, but cofounder Kunal Bhatia cited insufficient runway and shifting market dynamics as key reasons for the shutdown. The company is returning remaining funds to its investors.

Frubana representing approximately 3% of its workforce on 2022-06-21.

Aqgromalin, a Sequoia-backed agritech startup specializing in animal husbandry and aquaculture, has laid off 80 full-time employees, representing about 30% of its workforce. The layoffs, which occurred in mid-May 2022, were a result of a failed Series A funding round after a lead investor unexpectedly pulled out due to the economic downturn, causing a co-investor to follow suit. Based in Chennai, the startup is now restructuring its business, shifting focus away from poultry and large animals to concentrate primarily on aquaculture. Additionally, Aqgromalin is actively pursuing merger talks, including discussions with the D2C meat unicorn Licious, to secure a financial lifeline.

In June 2022, Australian fintech Brighte, which specializes in financing residential renewable energy and solar installations, laid off more than 30 employees, representing about 15% of its workforce. The company, backed by prominent investors including Atlassian billionaires, made the cuts to preserve cash in anticipation of a potential one- to two-year economic downturn. Despite a surge in homeowner interest in solar due to rising energy prices, Brighte opted to streamline operations. The fintech had expanded into EV financing and aimed to become an energy retailer, but faced scrutiny over its financing of overpriced solar systems for vulnerable customers.

SummerBio laid off 101 employees representing approximately 100% of its workforce on 2022-06-20.

Israeli-Singapore retail analytics company Trax is laying off over 100 employees, representing 12% of its workforce, in late June 2022. The layoffs, affecting several dozen employees in Israel, are part of a streamlining effort to accelerate the company's path to profitability ahead of a potential IPO, rather than due to a cash shortage. This decision follows a downturn in the retail food delivery sector and challenging global market conditions that have made future fundraising difficult. Trax, which provides computer vision and robotics technology to retail chains, had raised $640 million in April 2021 at a $2.6 billion valuation and has secured $975 million in total funding to date.

Sports media startup Buzzer laid off approximately 20% of its staff in June 2022, affecting seven full-time employees along with six contractors and part-timers. The company, which had recently grown to about 65 employees, cited the need to be disciplined with resources amid wider economic uncertainty and to focus on key partnerships and product development. Founded in 2021 and backed by notable investors and athletes, Buzzer offers notifications and micro-transactions for live sports moments. Concurrently, the company was raising at least $20 million in new capital, indicating a strategic shift to streamline operations and prioritize its core sports media platform.

Toronto-based startup Bonsai has conducted a second round of layoffs in less than two months, letting go of approximately 30 employees, which follows an earlier reduction of 29 staff in April. Combined, these cuts represent a 70 percent reduction in workforce since April, leaving the company with 25 full-time and contractor employees. CEO Saad Siddiqui cited increased volatility in public and private capital markets as the reason, stating the move aims to conserve cash, extend runway, and focus on profitability amid changing investment criteria. Despite raising $21 million CAD in Series A funding in March, the company, which provides embedded commerce tools for media publishers, is restructuring to navigate a tightening market, joining other Canadian tech firms in recent layoffs.

In June 2022, Singapore-based cryptocurrency exchange Bybit announced significant layoffs, cutting 30% of its workforce, which amounted to approximately 600 employees out of a total of 2,000. This move was part of a broader cost-cutting effort amid a severe downturn in the crypto market, characterized by plummeting token prices and industry-wide instability. Bybit cited the need to remove overlapping functions and build smaller, more agile teams to improve efficiency. The company, which had 6 million registered users and had engaged in high-profile marketing like a $150 million Red Bull Racing sponsorship, offered severance packages and career support to affected staff. This layoff followed similar actions by other crypto firms like Coinbase and Crypto.com, reflecting the challenging "crypto winter" of the time.

In June 2022, Indian social commerce startup CityMall laid off 191 employees, impacting at least 30% of its workforce, which had recently been over 500. The Gurgaon-based company, which had just raised $75 million in late March and over $110 million total from investors like General Catalyst, announced the cuts to implement structural changes and align with an evolving business model amid a sharp market reversal. This move was part of a broader trend of layoffs across Indian startups, as global tech stock declines led investors to slow funding. CityMall, which partners with thousands of micro-entrepreneurs across about 30 cities, described the decision as one of its toughest, offering support to affected staff.

BitOasis laid off 9 employees representing approximately 5% of its workforce on 2022-06-19.

In June 2022, SoftBank-backed Indian edtech unicorn Unacademy laid off another 150 employees, representing about 2.6% of its workforce. This primarily affected staff from its PrepLadder team, which it acquired in 2020, along with some sales personnel. The company framed the move as a result of a performance improvement program, denying it was a layoff, but the context points to broader cost-cutting efforts. This followed a larger round earlier in 2022, where Unacademy let go of around 600 employees (10% of its workforce) to reduce cash burn. The actions come amid a "funding winter" for Indian startups, a normalization of post-pandemic demand for online education, and significant financial pressures, as the company's net loss widened to Rs 1,537 crore in FY21 despite revenue growth.

Finite State laid off 16 employees representing approximately 20% of its workforce on 2022-06-17.

Bytedance laid off 150 employees on 2022-06-17.

Socure laid off 69 employees representing approximately 13% of its workforce on 2022-06-17.

Tesla layoffs reportedly affect hourly workers, too, as reported in the article.