Layoffs Roundup: Thurs 9/17/20

Well, that was fast. Just six months after everyone was warning about a startup reckoning, tech is booming again — coronavirus be damned πŸ€·πŸ»β€β™‚οΈ. 

The latest evidence? Using data from PitchBook and Layoffs.fyi, the Financial Times identified more than 20 startups that recently raised funding at higher valuations despite laying off employees (including Carta, Sonder, and Stack Overflow). 

It’s not just private markets that have recovered. Shares of data startup Snowflake gained 112% on its first day of public trading yesterday, boding well for the half dozen startups about to IPO in the coming weeks. Maybe it’s time for me to finally join all the millennialsΒ trading options on Robinhood? πŸ˜‰Β 

Despite the froth, layoffs are unfortunately still happening. I won’t be turning Layoffs.fyi into IPO.fyi anytime soon (plus, someone already registered it 2 weeks ago 😠).

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 pandemic.

🏒 NS8 βˆ™ 🌎 Las Vegas βˆ™ πŸ‘© 240 employees (95%) βˆ™ πŸ”—Source

  • NS8, a fraud prevention startup, laid off nearly its entire staff. Ironically, the layoff came just days after NS8 informed employees that it was itself under investigation for fraud. The startup’s CEO abruptly resigned amid the SEC investigation, and has claimed that he β€œdid not walk away with the companies [sic] money.” NS8 raised a $123 million round of funding just months ago.

🏒 Bleacher Report βˆ™ 🌎 London βˆ™ πŸ‘© 20 employees βˆ™ πŸ”—Source

  • Digital sports media company Bleacher Report will lay off 20 employees later this month, representing nearly its entire London office. The UK staff had been focused on Bleacher Report’s football brand (what we Americans call “soccer”), and there’s speculation that this layoff is part of a series of decisions to pull back from its investment in the sport. Bleacher Report is currently owned by AT&T.

🏒 HubHaus βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© 100% of employees βˆ™ πŸ”—Source

  • HubHaus, a co-living startup that manages shared homes, is shutting down and laying off all its employees. The startup says that it failed to attract enough tenants, perhaps because the pandemic has exacerbated rental markets in cities like San Francisco. 

🏒 Welkin Health βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© 10 employees (33%) βˆ™ πŸ”—Source

  • The New York Post learned that patient healthcare software startup Welkin Health laid off a third of its workers in late April. Three days later, the company received a PPP loan worth over $1 million. Welkin claims that a declining sales pipeline caused the layoff. Since PPP loans are only forgivable if a company maintains its headcount, it’s likely that Welkin will need to pay back the loan.

Thanks to Layoffs.fyi intern Stephan Billingslea for contributing to this post.

Layoffs Roundup: Thurs 9/10/20

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 pandemic.

🏒 Waze βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© 30 employees (5%) βˆ™ πŸ”—Source

  • 5% of employees at Google-owned Waze, a navigation app, were laid off as a result of stay-at-home orders across the globe. Global weekly driving averages were down 70% at one point in the pandemic, and Waze’s carpooling service continues to see a significant drop in demand. The layoff was concentrated in Waze’s sales, marketing, and partnerships teams; those laid off will receive severance and health insurance into early 2021.

🏒 Ouster βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© 10% of employees βˆ™ πŸ”—Source

  • Lidar startup Ouster laid off 10% of its workforce due to COVID-19. Despite the layoff and a shutdown of its manufacturing facility earlier in the pandemic, Ouster recently raised a $42 million Series B and reported increasing revenue. Diversification has helped: unlike other lidar startups, Ouster sells its sensors to defense, agriculture, and mining companies, in addition to automakers.

🏒 Akerna βˆ™ 🌎 Denver βˆ™ πŸ‘© Unknown # of employees βˆ™ πŸ”—Source

  • Layoffs ensued at Akerna, a marijuana compliance software company, after it acquired Ample Organics in a $45 million deal. Ample Organics’ CEO, disillusioned by the acquirer’s leadership, resigned less than two months after the acquisition. He left behind some searing criticism for his former employer, saying that  β€œAkerna’s current leadership is unlikely to make it a preeminent leader of anything. Except, possibly, serial layoffs, customer and revenue churn, and dilutive deals that are bad for investors.”

🏒 Swing Education βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© Unknown # of employees βˆ™ πŸ”—Source

  • When the pandemic closed schools in the spring, 90% of Swing Education’s revenue disappeared, causing the startup to lay off staff. The startup has now shifted its business from matching substitute teachers with schools to matching teachers with parents looking to create learning pods. Swing’s first learning pods opened in Oakland last month.

Thanks to Layoffs.fyi intern Stephan Billingslea for contributing to this post.

Layoffs Roundup: Thurs 9/3/20

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 pandemic.

🏒 Big Fish Games βˆ™ 🌎 Seattle βˆ™ πŸ‘© 250 employees βˆ™ πŸ”—Source

  • Big Fish Games, a developer of mobile and social casino games, laid off 250 employees despite other gaming companies reporting a surge in sales during the pandemic. Some point to a recent $155 million legal settlement, the result of allegations that the company’s games constituted illegal gambling in Washington, as a reason for the layoff.Β  For its part, Big Fish Games explained its decision using phrases like “refactoring operations” and “reinforce the company’s positioning for growth.”

🏒 GoBear βˆ™ 🌎 Singapore βˆ™ πŸ‘© 22 employees (11%) βˆ™ πŸ”—Source

  • GoBear, an online financial services β€œsupermarket,” laid off 11% of its employees in offices across the globe. The company now plans to focus on its growth areas of digital lending and insurance brokerage services.Β  [As an aside, GoBear feels like an ominous name choice for a financial services startup…maybe β€œbear market” meansΒ something different in Southeast Asia?]

🏒 MakeMyTrip βˆ™ 🌎 New Delhi βˆ™ πŸ‘© 350 employees (10%) βˆ™ πŸ”—Source

  • MakeMyTrip, India’s largest online travel booking company, saw revenue slashed to zero during the pandemic. Its founder joked that the company’s Q2 earnings call should’ve been called a β€œlack of earnings call.” As a result, the company laid off 350 employees, or 10% of its staff, in June.Β 

🏒 Awok βˆ™ 🌎 Dubai βˆ™ πŸ‘© 100% of employees βˆ™ πŸ”—Source

  • Dubai-based e-commerce startup Awok shut down a year after raising a $30 million Series A. Employees have reported receiving no pay since January and blame company leadership for the shutdown; Awok’s website cites the pandemic as the reason for closing shop.

🏒 kununu βˆ™ 🌎 Boston βˆ™ πŸ‘© Unknown # of employees βˆ™ πŸ”—Source

  • Kununu, a platform that lets employees rate their employer, discontinued its U.S. operations and shut down its Boston office. Headquartered in Vienna, the company was bought by Linkedin competitor XING for $12.3 million in 2013.

Thanks to Layoffs.fyi intern Stephan Billingslea for contributing to this post.

Layoffs Roundup: Thurs 8/27/20

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 pandemic.

🏒 Salesforce βˆ™ 🌎 San Francisco Bay Area βˆ™ πŸ‘© ~1,000 employees (2%) βˆ™ πŸ”—Source

  • Salesforce, the CRM and enterprise cloud software giant, laid off about 1,000 employees (2%) less than a day after reporting blowout earnings. In March, Salesforce’s CEO pledged to its workforce β€œOhana” that the company would not have any β€œsignificant” layoffs for 90 days. Recent layoffs affected sales and customer support, despite a 29% rise in revenue and 26% increase in share price. Affected workers were given 60 days to find another role in the firm.

🏒 Hipcamp βˆ™ 🌎 San Francisco Bay Area βˆ™ πŸ‘© ~60% of employees βˆ™ πŸ”—Source

  • Hipcamp, an Airbnb for camping stays, laid off around 60% of its employees back in April, TechCrunch reported today. More recently though, Hipcamp’s business has rebounded now that stay-at-home orders have eased and travelers prefer the safety of the outdoors. Hipcamp has rehired some of its laid-off employees and is looking to expand its team further.

🏒 Docly βˆ™ 🌎 London βˆ™ πŸ‘© 8 employees (80%) βˆ™ πŸ”—Source

  • Telemedicine startup Docly, a spinoff of Swedish digital health provider Mik Doctor, stopped operating in the UK. 8 employees were laid off as a direct result of restructuring, as Docly will refocus on becoming a technology supplier for companies like Mik Doctor in the future.

🏒 Spaces βˆ™ 🌎 Los Angeles βˆ™ πŸ‘© Unknown # of employees βˆ™ πŸ”—Source

  • Spaces, a VR entertainment startup, was recently acquired by Apple, who has been buying VR teams to develop its own VR headset. When the news broke, Spaces’ CEO noted that the company had to lay off an undisclosed number of employees at the beginning of the pandemic and take out a PPP loan to β€œkeep the lights on.”

🏒 Streamsets βˆ™ 🌎 San Francisco Bay Area βˆ™ πŸ‘© Unknown # of employees βˆ™ πŸ”—Source

  • Streamsets, a data integration startup with $76 million of funding, laid off an unknown number of employees in order to survive the first wave of the pandemic. The layoffs came days after the company won a best workplaces award. The company cut R&D and some recent hires, saying that it needed to give up on β€œinefficient growth.”

🏒 Mapify βˆ™ 🌎 Berlin βˆ™ πŸ‘© Unknown # of employees βˆ™ πŸ”—Source

  • Mapify, an app for planning travel experiences, laid off β€œseveral team members,” citing the pandemic’s continued disruption on travel. The startup most recently raised a $1 million seed round in 2018.

Thanks to Layoffs.fyi intern Stephan Billingslea for contributing to this post.

Layoffs Roundup: Thurs 8/20/20

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 pandemic.

🏒 Shopify βˆ™ 🌎 Ottawa βˆ™ πŸ‘© 30-50 employees βˆ™ πŸ”—Source

  • An e-commerce platform that allows anyone to set up an online store, Shopify has seen revenue double YoY during the pandemic. However, due to the company’s decision to adopt remote work permanently, at least 30 employees supporting in-office workers were laid off. BetaKit reports that some laid-off employees complained about poor severance packages and being denied transitions to other roles.

🏒 DJI βˆ™ 🌎 Shenzhen βˆ™ πŸ‘© ~120 employees βˆ™ πŸ”—Source

  • Chinese drone manufacturer DJI began cutting its global sales and marketing teams in March as sales dropped and political pressures surged. The US Department of Interior recently grounded its fleet of DJI drones over security concerns, and DJI’s mobile app has been accused of collecting more user data than needed. Reuters estimates that over 120 employees have been laid off; the company denied the number but declined to provide a more accurate count.

🏒 InVision βˆ™ 🌎 New York City βˆ™ πŸ‘© 40-60 employees

  • Digital product design platform InVisionApp laid off 40 to 60 employees over the past couple of weeks, sources told Layoffs.fyi. InVision most recently raised a $115 million Series F in 2018 that valued the company at $1.9 billion.

🏒 Glossier βˆ™ 🌎 New York City βˆ™ πŸ‘© Unknown # employees βˆ™ πŸ”—Source

  • Make-up and skincare startup Glossier previously closed its three physical stores in March and furloughed its retail workers in June. The D2C beauty company is now laying off its retail workers, as it does not expect to reopen its stores this year. New York and Los Angeles workers will receive 12 weeks of severance and healthcare coverage through October. Glossier did not lay off any corporate employees and will continue to focus on e-commerce, its main revenue source.

Thanks to Layoffs.fyi intern Stephan Billingslea for contributing to this post.

Layoffs Roundup: Thurs 8/13/20

Tech layoffs continue to level off, with many hoping that the worst is behind us. After peaking in April and May, layoffs have declined in every month since.

Citing multiple sources including Layoffs.fyi, the New York Times concludes that early “doomsday warnings have not translated into the drastic shakeout that many had expected.” The article explores how even companies that previously laid off employees, like Airbnb and Getaround, are starting to see signs of recovery.

That’s likely no comfort to the 77,000+ tech workers who have been laid off during the pandemic, or to the hundreds who continue to be laid off each week. But a fast and sustained rebound is the best we can hope for at this point 🀞.

Below is a recap of the layoffs from this past week. Our Layoffs.fyi Tracker continues to keep an updated list of all startup layoffs during COVID-19.

🏒 Thriver βˆ™ 🌎 Toronto βˆ™ πŸ‘© 75 employees (50%) βˆ™ πŸ”—Source

  • Canadian corporate catering startup Platterz rebranded to Thriver after a $33 million Series B round. With offices closing due to lockdowns, their food catering revenues have dipped in this year’s second quarter. The startup laid off 50% of its workforce, or 75 employees.

🏒 Vesta βˆ™ 🌎 Atlanta βˆ™ πŸ‘© 56 employees βˆ™ πŸ”—Source

  • Worldwide payment services provider Vesta Corporation filed a WARN notice, consisting of a 60 calendar-day advance notification for layoffs in larger companies. The company will lay off 56 employees effective September 6th.

🏒 HopSkipDrive βˆ™ 🌎 Los Angeles βˆ™ πŸ‘© 54 employees βˆ™ πŸ”—Source

  • HopSkipDrive, a ride-sharing company for kids, laid off 54 employees, sources told Layoffs.fyi. Schools closing has severely impacted the startup’s business since March, when they laid off 10% of the company. To diversify its services during the pandemic, HopSkipDrive now offers tech and meal delivery.

🏒 Eatsy βˆ™ 🌎 Singapore βˆ™ πŸ‘© 20 employees (100%) βˆ™ πŸ”—Source

  • Singapore-based food ordering app Eatsy has shut down, laying off its last 20 employees. In April, the company ended its operations in Indonesia. Similar food delivery start-ups in Asia, like Gojek and Grab, have also experienced layoffs.

In case you missed it, check out our standalone posts about layoffs from these companies:

Thanks to Layoffs.fyi intern Stephan Billingslea for contributing to this post.

Layoffs Roundup: Thurs 8/6/20

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 pandemic.

🏒 Booking.com βˆ™ 🌎 Amsterdam βˆ™ πŸ‘© 4,375 employees (25%) βˆ™ πŸ”—Source

  • Hotel reservations website Booking.com will be laying off 25% of its global workforce (approx. 4,375 employees). The company said that it needs to downsize to “match our expectation of the future of travel.” In accordance with local regulations, Booking.com expects to inform affected employees starting in September and lasting through the end of the year. Its sister companies Kayak, OpenTable, and Agoda (all owned by the same holding company) already conducted layoffs earlier in the year.

🏒 Buy.com βˆ™ 🌎 San Francisco Bay Area βˆ™ πŸ‘© 87 employees (100%) βˆ™ πŸ”—Source

  • Buy.com, a U.S. e-commerce site acquired by Rakuten, will be shutting down over the next two months. All 87 employees will be laid off.

In case you missed it, check out our standalone posts about layoffs from these companies:

Layoffs Roundup: Thurs 7/30/20

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 pandemic.

🏒 Swiggy βˆ™ 🌎 Bengaluru βˆ™ πŸ‘© 350 employees (5%) βˆ™ πŸ”—Source

  • Swiggy, a food delivery startup based in India, cut 350 employees in a second round of layoffs. The company previously laid off 1,100 employees in May, but said that this will be the final round. Swiggy said that the food delivery industry has only recovered to about 50% of its peak order volume.

🏒 Procore βˆ™ 🌎Los Angeles βˆ™ πŸ‘© 180 employees (9%) βˆ™ πŸ”—Source

  • Procore, which makes construction project management software, laid off 180 employees (9%). Laid-off employees will receive severance pay, health benefits through the end of 2020, computer equipment, and outplacement services. The company filed for an IPO in February.

🏒 tZEROβˆ™ 🌎New York βˆ™ πŸ‘© Unknown # of employees βˆ™ πŸ”—Source

  • tZERO, a blockchain startup majority-owned by Overstock.com, laid off an unspecified number of employees. The company aims to cut costs in preparation for an external capital raise.

Layoffs Roundup: Thurs 7/23/20

Although permanent layoffs have been the most common way to shrink staff during the pandemic, dozens of startups instituted furloughs to try to avoid a bigger layoff. Furloughed employees were kept on health insurance and told that their employment status would be revisited in a few months.

Now that the furlough period is ending for some of these employees, we’re starting to see what tech companies decide to do. In a positive sign, Yelp said last week that it would bring back “nearly all” of the 1,100 employees it furloughed in April.  

Other employees aren’t so lucky. Vox Media will reportedly lay off most of their furloughed employees, with additional job cuts coming on top. Hospitality startup Oyo laid off the “large majority” of its furloughed U.S. employees.

The Layoffs.fyi Tracker doesn’t count furloughs, but will be tracking which companies end up laying off their furloughed employees.

Below is a recap of the layoffs from this past week.

🏒 LinkedIn βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© 960 employees (6%) βˆ™ πŸ”—Source

  • Professional networking site LinkedIn laid off 960 employees (6%) across its Global Sales and Talent Acquisition teams. The company said its Talent Solutions business has been hurt due to a slowdown in hiring during the pandemic. Talent Solutions sells sourcing tools and job listings to help companies hire.

🏒 Lighter Capital βˆ™ 🌎 Seattle βˆ™ πŸ‘© 22 employees (49%) βˆ™ πŸ”—Source

  • Lighter Capital, which provides revenue-based financing to startups, laid off 22 employees (49%). The company previously cut 22% in April. Lighter Capital’s loans are repaid from a startup’s future revenue. But with startups facing lower revenue projections in light to the pandemic, it’s likely that Lighter Capital’s lending model is under pressure.

🏒 Curefit βˆ™ 🌎 Bengaluru βˆ™ πŸ‘© 120 employees βˆ™ πŸ”—Source

  • An India-based fitness startup, CureFit’s job cut affected 600 employees, 70-80% of whom were furloughed. The company previously laid off 800 employees in May. Fitness centers are part of India’s shutdown orders, and CureFit has had to permanently close a number of its gyms.

Layoffs Roundup: Thurs 7/16/20

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 pandemic.

In case you missed it — we recently looked at usage data from the Layoffs.fyi List to see what types of laid-off employees were getting the most attention from recruiters. Among the findings: there are 4x as many searches for laid-off engineers as there are for the next most popular function (design). You can read the full analysis here.

🏒 OnDeck βˆ™ 🌎 New York City βˆ™ πŸ‘© 20% of employees βˆ™ πŸ”—Source

  • Small business lending company OnDeck laid off 20% of its staff, two sources told Layoffs.fyi. Finance blog deBanked attempted to email OnDeck’s head of corporate communications for comment, but received an auto-reply saying that he was no longer with the company.

🏒 Yelp βˆ™ 🌎SF Bay Area βˆ™ πŸ‘© 63 employees βˆ™ πŸ”—Source

  • Local reviews site Yelp plans to bring back “nearly all” of the 1,100 employees it furloughed in April, citing “cautious optimism” about the economic recovery. However, 63 employees will be laid off as a result of Yelp’s decision to keep its offices closed into next year.

🏒 Optimizely βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© 60 employees (15%) βˆ™ πŸ”—Source

  • A maker of A/B testing software, Optimizely laid off 60 employees (15%). Laid-off employees will receive severance pay and six months of COBRA (through 2020), and will be allowed to keep their laptop.

🏒 Vox Media βˆ™ 🌎 Washington D.C. βˆ™ πŸ‘© Unknown # employees βˆ™ πŸ”—Source

  • Vox Media, the owner of New York Magazine, The Verge, SBNation and Eater, previously furloughed 100 employees in April. Vox is planning to permanently lay off many of those employees, and may cut additional jobs as well. The company plans to miss its 2020 forecast by 25%, due in part to the pandemic’s impact on its coverage areas of sports and real estate.

🏒 Skyscanner βˆ™ 🌎 Edinburgh βˆ™ πŸ‘© 300 employees (20%) βˆ™ πŸ”—Source

  • A flight comparison website based in Scotland, Skyscanner plans to close or scale back many of its global offices outside the U.K. The company’s revenues β€œhave been hit significantly,” and it expects a full recovery to be “several quarters or possibly years away” due to the pandemic’s disruption on travel.