Samsara lays off 300 employees, launches public alumni directory

🌎 San Francisco Bay Area, Atlanta βˆ™ πŸ‘© 300 employees (18%) βˆ™ πŸ–₯ All departments

Samsara, which makes Internet-connected sensors that help industrial companies optimize their operations, laid off 300 employees yesterday (18%). The company also raised $400 million at a lower valuation ($5.4 bn) than the one from its September raise ($6.3 bn).

Samsara blamed the economic downturn for its layoff without specifying details, though its down round suggests that the company was operating without enough cash to last through the pandemic.

Samsara is also implementing other cost-cutting measures such as slashing executive salaries by 30% for the rest of the year, cutting non-essential spending, and freezing hiring for 6 months.

Following the example set by Airbnb and Uber, the company launched an official Samsara talent directory (see link below πŸ‘‡ ). The Samsara layoff list features 100 ex-employees, mostly in the Bay Area.

Our live Layoffs Tracker has a real-time report of all startups that have done layoffs.


Ex-Kabbage layoff spreadsheet lists over 100 employees

🌎 Atlanta, New York City βˆ™ πŸ‘© Unknown # of employees βˆ™ πŸ–₯ All departments

In late March, small business lending startup Kabbage furloughed a “significant number” of its 500 employees. It also shut down its Bangalore office. Hoping to use furloughs as a way of avoiding permanent layoffs, Kabbage had intended to bring back the affected employees once business conditions improved.

With the coronavirus pandemic continuing to decimate the economy, it’s unclear when that will happen. One source told that the furloughs would last at least 2 months (through end of May). Another thought it was unlikely Kabbage would ever bring the furloughed employees back.

A Google spreadsheet called “Kabbagers for hire” has been circulating with over 100 names. See link below πŸ‘‡if you’re hiring in Atlanta or New York City.

Our live Layoffs Tracker has a real-time report of all startups that have done layoffs.


Namely laid off 110 employees, citing challenges faced by its SMB customers

🌎 New York City, Atlanta βˆ™ πŸ‘© 160 employees (40%) βˆ™ πŸ–₯ All departments

UPDATE: Namely’s CEO tells that 110 employees were laid off, not 160 as originally implied by TechCrunch.

A maker of HR and payroll software, Namely laid off 110 employees earlier this month. The company noted that its SMB customers have been downsizing as a result of the pandemic. This has led to lower revenue for Namely, which makes money in part via a per-employee monthly fee.

If you’re recruiting in NYC or Atlanta, see link below πŸ‘‡for an opt-in list of nearly 100 employees laid off across Namely’s brokerage, client operations, go to market, and product/engineering teams.

Our live Layoffs Tracker has a real-time report of all startups that have done layoffs.


Opendoor lays off 600 people amid declining real estate activity

🌎 San Francisco, Phoenix, Atlanta βˆ™ πŸ‘© 600 employees (35%) βˆ™ πŸ–₯ All departments

Opendoor, which facilitates the buying and selling of residential homes, laid off 35% of its staff yesterday. That amounts to 600 employees, making Opendoor’s layoff the 2nd largest among pre-IPO startups since the coronavirus pandemic (Toast cut 1,300 last week). See below link πŸ‘‡for an opt-in spreadsheet of employees laid off, spanning multiple functions. Opendoor says laid-off employees will receive 8 weeks of pay and 16 weeks of reimbursement for health insurance.

See our live Layoffs Tracker for a real-time report of all startups that have done layoffs.