Below is a recap of the layoffs from this past week. Check out the Layoffs.fyi Tracker for a complete list of all tech layoffs during the coronavirus pandemic.
🏢 Oyo USA ∙ 🌎 Dallas ∙ 👩 Hundreds of employees ∙ 🔗Source
- A global lodging company headquartered in India, Oyo permanently laid off a “large majority” of the U.S. employees it furloughed in April. A laid-off employee tells Layoffs.fyi that 90% of the U.S. team was affected, likely numbering hundreds of people. In an internal memo, Oyo’s COO said that its U.S. business is “showing positive signs of recovery.” However, U.S. revenue is still 25% below January’s levels, with global revenue only at ~30% of pre-COVID levels.
🏢 Funding Circle ∙ 🌎San Francisco ∙ 👩 85 employees ∙ 🔗Source
- A London-based lending platform for small businesses, Funding Circle will lay off 85 U.S. employees to help its U.S. business move towards profitability. The company’s San Francisco technology development team will be consolidated to the U.K., and its sales and marketing operations will be moved to Denver.
🏢 The Wing ∙ 🌎 New York City ∙ 👩 56 employees ∙ 🔗Source
- A co-working space for women, The Wing laid off an additional 56 employees after cutting half of its team in April. The company’s workspaces continue to be closed due to the pandemic, threatening its primary source of revenue. Laid-off employees will receive two months of severance pay along with extended healthcare benefits.
🏢 Hired ∙ 🌎 San Francisco ∙ 👩 Unknown # employees ∙ 🔗Source
- A hiring marketplace that matches tech companies with job candidates, Hired is the latest recruiting startup to conduct a layoff during the pandemic. The number of employees laid off is unknown, though one Layoffs.fyi source says that at least 5 engineers and possibly up to 50 employees total were affected.
🏢 Kongregate ∙ 🌎 SF Bay Area ∙ 👩 12 employees ∙ 🔗Source
- A video game publisher and web gaming portal, Kongregate laid off 12 employees as part of a strategy shift. The company will be focusing more on developing games internally rather than publishing Flash-based games made by others. Kongregate apologized that some employees found out about their layoff through a direct deposit notification.
🏢 Havenly ∙ 🌎 Denver ∙ 👩 5 employees ∙ 🔗Source
- An online interior design service, Havenly laid off 5 full-time workers and some temp workers in the spring. However, the company has begun hiring again in recent weeks, due to rising demand from people wanting to improve their living space during shelter-in-place.