Layoff Events

In April 2020, Brazilian fintech startup BeeTech laid off 35 employees. This reduction was part of a broader wave of layoffs across Brazil's startup sector, which saw nearly 1,000 job cuts at over a dozen companies due to the economic uncertainty caused by the COVID-19 pandemic. BeeTech, which operates services like BeeCâmbio and Remessa Online, had experienced significant growth in 2019, hiring over 160 new staff, many in anticipation of continued expansion. However, faced with sudden market disruptions and impacts on its business planning, the company made the difficult decision to reduce its workforce across various departments to conserve cash and navigate the crisis.

Meow Wolf, the Santa Fe-based immersive arts and entertainment company, laid off 201 employees and furloughed an additional 56, representing a significant portion of its workforce. The company, which employs nearly 200 remaining staff, made these cuts in response to the severe economic impact of the COVID-19 pandemic. With its flagship House of Eternal Return installation closed and major events like the Taos Vortex festival canceled, the company faced a critical revenue crunch. The layoffs, announced in late April 2020, affected employees across all locations, including upcoming projects in Denver, Las Vegas, Phoenix, and Washington DC. Meow Wolf cited the need to ensure the company's survival and future success, providing severance packages and support to affected staff.

NuoDB laid off 20 employees representing approximately 29% of its workforce on 2020-04-10.

Built In laid off 28 employees on 2020-04-10.

Frontdesk, a short-term rental and hospitality startup, laid off 35 employees, which represents 16% of its total workforce. The difficult decision was made in response to the severe impact of the COVID-19 pandemic on the travel and hospitality industry. The layoffs, announced by CEO Jesse DePinto, affected a range of roles including digital marketers, data analysts, and hospitality cleaners. These employees were credited with contributing to the company's significant growth. The move reflects broader economic challenges faced by the sector during this period.

Clinc laid off 40 employees representing approximately 32% of its workforce on 2020-04-09.

Yelp, the prominent local business reviews platform, announced significant layoffs last week, affecting 1,000 employees, which represents 17% of its workforce. The company also placed an additional 1,100 staff on furlough. This move comes as Yelp faces a sharp 64% decline in customer interest for restaurants since March 10, highlighting the severe impact of the COVID-19 pandemic on its core business. The layoffs spanned all departments, including engineering, underscoring the broad restructuring effort by the San Francisco-based tech company to navigate the economic downturn.

In April 2020, Brazilian management platform startup Omie (Omiexperience) laid off approximately 136 employees, representing about 31% of its then 439-person workforce. The layoffs occurred in two waves, driven by a combination of internal restructuring and the direct economic impact of the COVID-19 pandemic. The first wave of 42 dismissals was attributed to a strategic shift to serve larger enterprise clients and an adjustment for unmet growth projections. The second wave of 94 cuts was a direct response to the coronavirus crisis, which disrupted client demand despite initial expectations that remote work trends would boost business. Affected departments included marketing, sales, customer relations, franchises, and human resources. The company maintained salaries and benefits for remaining staff and launched a free tool to support micro-entrepreneurs during the downturn.

In April 2020, Domo, an American Fork-based cloud software company, laid off approximately 90 employees, representing about 10% of its workforce. The layoffs were a direct result of the economic uncertainty caused by the COVID-19 pandemic. CEO Josh James stated that while the business was performing well at the time, the company needed to take proactive measures to ensure long-term stability and continue serving its customers. Despite the workforce reduction, Domo was actively demonstrating its value during the crisis, notably by building a data-driven command center for the state of Utah to aid pandemic response efforts.

Matterport, a company specializing in 3D imaging technology, laid off approximately 90 employees earlier this month, which represents about 34% of its workforce. The cuts impacted all departments across its offices in the SF Bay Area, Chicago, and London. This significant reduction reflects broader challenges in the tech industry as companies adjust their operational strategies amid economic uncertainties.

OneTrust laid off 150 employees representing approximately 10% of its workforce on 2020-04-09.

LoopMe, an ad-tech company, has conducted layoffs as part of broader industry cost-saving measures amid the coronavirus pandemic. The financial downturn has exacerbated existing pressures from dwindling investment and privacy changes, forcing clients to pause marketing budgets. While the exact number of employees affected at LoopMe is not specified, the layoffs reflect the severe impact on the ad-tech sector, where multiple firms are taking similar actions to stay afloat during this economic crisis.

In April 2020, amid the financial pressures of the coronavirus pandemic, U.K. challenger bank Monzo announced the closure of its Las Vegas customer support office, resulting in 165 layoffs. These employees, who provided overnight support to Monzo's U.K. customers, represented a small portion of the company's then over 4 million customers, with their services deemed disproportionately costly for handling only 12% of queries. The decision, part of broader cost-cutting measures that included furloughs and salary reductions in the U.K., was accelerated by the economic downturn. Monzo, operating in the fintech industry as a fully licensed bank, offered affected staff two months' notice with full pay and healthcare support, while shifting overnight support operations to the U.K. This move did not impact its U.S. launch plans, as the Las Vegas team solely served U.K. clients.

In response to the COVID-19 pandemic, the Canadian e-commerce fine jewelry startup Mejuri has laid off approximately 36 employees, representing 15 percent of its workforce of 244. The company, founded in Toronto in 2015, has closed all its retail stores in cities like Toronto, New York, and Los Angeles due to government-mandated closures of non-essential businesses. The layoffs, confirmed in late March 2020, included a mix of temporary and permanent reductions, primarily affecting retail staff, while the online store continues to operate. This move reflects broader challenges in the tech and startup industry, as many companies faced significant disruptions during the pandemic.

CipherTrace on 2020-04-09.

Canadian coding school Lighthouse Labs laid off 14 employees in April 2020, representing just over 26 percent of its then 53-person workforce. The layoffs were a direct result of operational changes necessitated by the COVID-19 pandemic, which forced the company to shift its in-person bootcamps online. This transition drastically altered 25 to 30 roles, particularly in marketing and physical operations. While 14 staff were let go, another 12 were initially moved to reduced hours through a government work-share program. However, following the approval of a federal wage subsidy, Lighthouse was able to bring all affected employees back to full-time work by mid-April. The company, which operates bootcamps across Canada, also launched a scholarship fund to support those unemployed due to the pandemic.

Code42 laid off 25 employees representing approximately 5% of its workforce on 2020-04-09.

Lever, a San Francisco and Toronto-based company that provides applicant tracking software for recruiting, laid off 86 employees last week, representing 40% of its workforce. The cuts impacted all departments as the recruiting technology sector faces significant challenges due to the coronavirus pandemic, with many companies slowing or freezing hiring. This move aligns with broader trends, as other recruiting startups like ZipRecruiter, AngelList, and Triplebyte have also recently conducted layoffs.

Unison laid off 89 employees representing approximately 45% of its workforce on 2020-04-08.

Spyce laid off 4 employees representing approximately 12% of its workforce on 2020-04-08.

In April 2020, Quantcast, a digital advertising technology company with over 600 employees globally, laid off just under 5% of its staff and implemented tiered salary cuts due to the economic impact of the COVID-19 pandemic. This reduction affected approximately 30 employees. The pay cuts ranged from 5% for some staff to 30% for the highest-paid employees, with CEO Konrad Feldman taking a 100% pay cut. The company, which operates a managed DSP for advertisers and a data insights business for publishers, was already navigating a challenging transition to a more self-serve model and facing industry headwinds like the decline of third-party cookies. These workforce and compensation adjustments were part of broader efforts to stabilize the business during an unprecedented crisis.

Eden, which acquired Managed By Q from WeWork in March, has laid off or furloughed the remainder of Managed By Q's staff, affecting over 75 employees across all departments. This represents 100% of Managed By Q's workforce, as Eden appears to have been primarily interested in acquiring the company's customers and assets rather than retaining its team. The office management services industry has seen consolidation, with this round following a separate layoff just one month prior.

In April 2020, the social commerce startup Meesho laid off over 200 employees, representing more than 28% of its then 700-strong workforce. This drastic measure was a direct response to the severe business decline caused by the Covid-19 pandemic and the nationwide lockdown in India, which halted sales of non-essential items. The layoffs, advised by investors, primarily affected key account managers responsible for vendor onboarding, as well as staff in customer support, operations, and marketing. The company aimed to convert fixed salary costs into variable expenses by outsourcing vendor acquisition. Additionally, Meesho was considering significant salary cuts for senior employees to navigate the financial crisis, highlighting the pandemic's severe impact on the e-commerce and social commerce industry.

Eventbrite, a ticketing and events platform, laid off approximately 500 employees last week, representing 45% of its workforce. The cuts impacted all departments across its San Francisco and Nashville offices. The company, which relies heavily on live events, faced severe financial strain as shelter-in-place orders halted gatherings, causing its share price to drop over 70% since mid-March. This significant reduction highlights the broader challenges in the events industry during the COVID-19 pandemic.

Unbabel laid off 80 employees representing approximately 35% of its workforce on 2020-04-08.

Scoop, a San Francisco-based carpooling platform for commuters, announced layoffs on Wednesday as the company faces drastically reduced operations due to widespread office closures across the country. The transportation startup, which operates in the competitive mobility industry alongside peers like Zipcar and Turo, was forced to reduce staff as its service volume fell to a fraction of normal levels. While the exact number of employees affected and the company's total workforce size were not disclosed, the move reflects broader challenges in the transportation sector during this period.

BVAccel, an ecommerce agency specializing in Shopify storefronts for direct-to-consumer brands, laid off or furloughed 25% of its staff, affecting 25 employees, in early April 2020. The cuts were a direct response to the coronavirus pandemic, which severely impacted the agency's clients, with some experiencing sales drops of 70-80% as consumer spending on non-essential goods plummeted. Operating in the digital marketing and ecommerce industry, the agency, which works with notable brands like Kylie Cosmetics and Untuckit, faced reduced demand for its services as DTC brands slashed their own expenses. Despite some new client acquisitions from brands seeking to diversify into direct sales, the overall downturn necessitated this significant reduction in workforce to navigate the economic crisis.

TechAdvance, a mid-sized technology company, has recently conducted a round of layoffs. While specific figures regarding the number of employees affected, the total workforce, or the exact percentage are not detailed in the available report, the move is part of a broader restructuring effort within the tech industry. The layoffs, occurring in early 2026, are attributed to strategic realignment and economic pressures common in the sector. The company is adjusting its operations to navigate current market challenges and position itself for future growth.

Connected, a Toronto-based software product development firm specializing in design, product, and engineering, laid off 17 employees last week, representing 10% of its workforce. This move is part of a broader trend of recent layoffs within the Toronto tech sector, affecting companies like Ritual and Ecobee as well. The layoffs highlight ongoing adjustments in the industry, with the company offering support by sharing an opt-in list of affected employees to connect them with hiring opportunities.

VideoAmp, a TV and digital advertising measurement firm, laid off approximately 10% of its workforce, affecting about 20 employees out of a total of 200, in early April 2020. The layoffs were a direct result of the economic downturn caused by the coronavirus pandemic, which severely impacted the advertising industry. Concurrently, the company revised its revenue growth projections downward to 30-50% for the year, a significant drop from the 150% growth it had experienced in previous years. As a six-year-old adtech company with substantial venture backing, VideoAmp joined other industry players in implementing cost-cutting measures during this period of widespread disruption.

Zola representing approximately 20% of its workforce on 2020-04-08.

Group Nine Media laid off 50 employees representing approximately 7% of its workforce on 2020-04-07.

Ibotta, a Denver-based rebate app startup valued at $1 billion, has laid off approximately 15% of its workforce due to the economic impact of the COVID-19 pandemic. While the exact number of affected employees is not officially confirmed, estimates based on company size range from around 90 to 105 people, as prior reports indicated the company had between 584 and 700 employees. The layoffs, announced in late March or early April 2020, reduced Ibotta's headcount to what it was roughly six months earlier and affected all departments. The company cited disruptions with retail partners like Amazon and Walmart.com, which faced supply chain issues and suspended offers. Laid-off employees received six months of continued health insurance. Ibotta operates in the fintech/retail technology industry and is considered a large, high-growth startup in the Denver area.

In April 2020, Sage Therapeutics, a Cambridge, Massachusetts-based biotech company, announced a significant restructuring, laying off approximately 340 employees, which represented about 53% of its then roughly 650-person workforce. This drastic cost-cutting measure followed a major setback in late-stage clinical trials for its experimental depression drug, zuranolone, which forced the company to redraw its development plans. The layoffs primarily affected commercial and administrative roles, many tied to its approved postpartum depression treatment, Zulresso, whose hospital-based administration faced additional challenges due to the emerging COVID-19 pandemic. The move marked a sharp retrenchment for a company that had previously been valued near $10 billion, as it sought to conserve resources and refocus on its clinical pipeline.

In April 2020, the direct-to-consumer travel brand Away, a New York-based luggage company valued at $1.4 billion, implemented significant workforce reductions due to the COVID-19 pandemic's catastrophic impact on travel. With sales of its products plummeting over 90% in recent weeks, the company first closed its retail stores but found that insufficient. As a result, Away furloughed approximately half of its employees and laid off an additional 10% of its workforce. The founders described the decision as devastating and a last resort, noting they and senior leadership took salary cuts. Affected employees received at least eight weeks of severance and healthcare coverage through June. The layoffs were a direct response to the near-total halt in global travel, which severely disrupted the company's operations.

Virta Health, a San Francisco-based digital health startup focused on reversing type 2 diabetes through coaching, has laid off an unspecified number of employees, primarily from its commercial team. The company, which employs around 200 people and was last valued at $538 million, cited the economic upheaval caused by the COVID-19 pandemic as the reason for the cuts. Despite recent Series-C funding and business growth, Virta stated the layoffs were necessary to navigate upcoming economic uncertainty and sustain its long-term mission, highlighting that even the in-demand health tech sector is not immune to the financial crisis.

Mobile marketing technology startup Branch Metrics, based in Redwood City, California, laid off 20 percent of its workforce this week, affecting fewer than 100 employees. The company, which had over 450 staff members according to LinkedIn data, confirmed the cuts as part of a trend among well-funded startups adjusting their teams. Founded in 2014 and valued at $1 billion, Branch specializes in cross-platform linking for consistent user metrics and has raised over $367 million, with its last funding round in 2019. This move reflects broader economic pressures, as seen in rising unemployment claims and similar layoffs at companies like Away and Toast.

Toast, a restaurant software company, laid off 1,300 employees on Tuesday, representing 50% of its total workforce. The cuts affected all departments and were concentrated in Boston, Chicago, and Omaha. The company stated its success is directly tied to the restaurant industry, which has experienced sales declines of up to 80% in many cities due to the COVID-19 pandemic. This drastic reduction highlights the severe impact of the pandemic on the broader restaurant and hospitality sector.

ezCater laid off 400 employees representing approximately 44% of its workforce on 2020-04-07.

Redfin laid off 236 employees representing approximately 7% of its workforce on 2020-04-07.

Nav, a fintech startup providing credit solutions to small businesses, laid off 30 employees, representing 20% of its workforce, across all departments. The layoffs occurred in Salt Lake City as the company, like many in the fintech sector, faced economic pressures due to the coronavirus pandemic, which particularly impacted startups reliant on transaction-based revenues.

MediaMath, a demand-side platform (DSP) in the digital advertising industry, laid off approximately 8% of its workforce in early April 2020, citing the severe economic impact of the COVID-19 pandemic. With about 659 employees prior to the cuts, this reduction affected dozens through a combination of layoffs and furloughs. The company also implemented a 10% pay cut for remaining staff and paused 401(k) matching. The pandemic caused advertisers to sharply reduce or pause spending, directly hitting DSP revenues. MediaMath, which had raised over $600 million, faced these challenges in a highly competitive market against rivals like The Trade Desk. The layoffs were part of broader cost-cutting measures to navigate the uncertain economic climate.

In April, Newfront Insurance, a commercial insurance brokerage, laid off 94 employees across all departments, with notable impacts on engineering, recruiting, strategic growth, and operations teams. The company clarified that these cuts were driven by business needs and not related to individual performance. To support those affected, Newfront provided severance packages, extended stock option exercise windows, and created an alumni list to help connect former employees with new opportunities. Additionally, the company implemented significant cost-cutting measures, including reducing most executive pay by 20% and cutting co-founders' salaries to zero.

Metromile, a San Francisco-based car insurance startup that offers pay-per-mile policies, laid off 100 employees yesterday, representing 33% of its workforce. The cuts impacted staff across all departments and were carried out in its offices in San Francisco, Boston, and Tempe. The company attributed the layoffs to economic uncertainties stemming from the COVID-19 pandemic, which has drastically reduced driving and, consequently, likely diminished its revenue as customers drive far fewer miles.

PerkSpot laid off 10 employees representing approximately 10% of its workforce on 2020-04-06.

Toronto-based FinTech startup Borrowell has laid off 15 employees, representing 20 percent of its 75-person workforce, as a direct result of the COVID-19 pandemic's economic impact. CEO Andrew Graham cited that while consumer financial concerns have increased, many partner financial institutions have reduced new business, directly affecting Borrowell's referral-based model. The layoffs, deemed a difficult but necessary decision for long-term stability, occurred amidst broader industry challenges. Despite government wage subsidy programs, Graham and other tech leaders argue the current criteria exclude fast-growing startups like Borrowell, prompting calls for urgent policy changes to support the innovation sector during this crisis.

BusBud laid off 23 employees representing approximately 32% of its workforce on 2020-04-06.

Hopper on 2020-04-06.

Cogito laid off 24 employees representing approximately 14% of its workforce on 2020-04-06.

In April 2020, blockchain and cryptocurrency mining company Bitfarms announced temporary layoffs as part of cost-cutting measures in response to the economic downturn caused by the coronavirus pandemic. The publicly traded firm, listed on Canada's TSX Venture Exchange, aimed to reduce its monthly operating expenses by 20-25% to maintain long-term viability. While the exact number of employees affected was not disclosed, the layoffs were implemented to help the company withstand short-term volatility, including challenges related to the upcoming Bitcoin halving event. Bitfarms, which operates five facilities in Quebec powered by hydroelectricity, cited its strong fundamentals and scale as factors enabling it to continue generating positive cash flow during the crisis. This move reflected broader pressures in the digital currency sector, where other firms like Galaxy Digital and Bitcoin.com were also reducing staff.