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.

Layoffs Roundup: Thurs 7/9/20

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 coronavirus pandemic.

🏒 Oyo USA βˆ™ 🌎 Dallas βˆ™ πŸ‘© Hundreds of employees βˆ™ πŸ”—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 βˆ™ 🌎San Francisco βˆ™ πŸ‘© 85 employees βˆ™ πŸ”—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 βˆ™ 🌎 New York City βˆ™ πŸ‘© 56 employees βˆ™ πŸ”—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 βˆ™ 🌎 San Francisco βˆ™ πŸ‘© Unknown # employees βˆ™ πŸ”—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 βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© 12 employees βˆ™ πŸ”—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 βˆ™ 🌎 Denver βˆ™ πŸ‘© 5 employees βˆ™ πŸ”—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.
StubHub

StubHub shifts 200 of its furloughed employees into permanent layoffs

🌎 San Francisco βˆ™ πŸ‘© 200 employees βˆ™ πŸ–₯ Multiple departments

Back in March when the coronavirus first became a pandemic, online ticket marketplace StubHub furloughed 450 employees (2/3 of its North American workforce). Now, the company says that 200 of those employees will be permanently laid off, as live events continue to be shut down.

Due to their increased risk of disease transmission, mass gatherings like concerts and sports games will be one of the last activities to be reopened. It follows that ticket marketplaces like StubHub are among the tech businesses worst-affected by the coronavirus. Just weeks before the pandemic, Viagogo agreed to acquire StubHub from eBay for $4 billion, a deal which Forbes recently dubbed the “Worst. Deal. Ever.” due to its unfortunate timing.

In the wake of the restructuring, the company created an official StubHub talent directory “for recruiters and hiring managers to easily sort through the skills and experience of this community” (see link πŸ‘‡).

The StubHub layoff list currently contains 72 ex-employees, primarily in San Francisco.

Source: StubHub.com

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

Layoffs Roundup: Thurs 6/18/20

Below is a recap of the layoffs from this past week. Check out the Layoffs.fyi Tracker for a complete list of all startup layoffs during the coronavirus pandemic.

In case you missed it, our new Layoffs.fyi Severance Tracker tracks the details of severance packages offered by startups that have done layoffs. You can see how much each company gave in severance pay and healthcare coverage, whether they made any adjustments to employee stock options, and more.

On the whole, our analysis shows that the severance packages in COVID-19 layoffs have been more generous than in a typical employee termination β€” with some offering as much as 20 weeks of pay!

🏒 PaisaBazaar βˆ™ 🌎 Gurugram βˆ™ πŸ‘© 1,500 employees (50%) βˆ™ πŸ”—Source

  • India’s largest online marketplace for lending products, PaisaBazaar’s layoff mostly affected its operations and business acquisitions teams. Paisabazaar has seen demand for new loans drop by almost 90% in some segments. Lenders have become more selective about who they approve, leading to fewer new loans originated. U.S.-based Credit Sesame and LendingClub have suffered from a similar trend here.

🏒 Grab βˆ™ 🌎 Singapore βˆ™ πŸ‘© 360 employees (5%) βˆ™ πŸ”—Source

  • The largest ride-hailing startup in Southeast Asia, Grab is the latest in the category to cut staff, following layoffs at Uber (U.S.), Lyft (U.S.), Ola (India), and Careem (Middle East). Grab mentioned it would also be sunsetting non-core projects and redeploying staff to focus on its delivery business.

🏒 SynapseFI βˆ™ 🌎 SF Bay Areaβˆ™ πŸ‘© 63 employees (48%) βˆ™ πŸ”—Source

  • A startup that provides banking infrastructure to other fintech companies, SynapseFI also said it was shifting its customer-facing operations to San Antonio. Additionally, the company plans to move upmarket to serve larger enterprises, suggesting that its customer base of smaller startups proved to be too risky amid the coronavirus pandemic. In December, the company and its CEO were sued for gender and age discrimination.
Stockwell Logo

Stockwell AI is shutting down on July 1

🌎 San Francisco Bay Area βˆ™ πŸ‘© Company shutdown (100%) βˆ™ πŸ–₯ All departments

A smart vending machine startup, Stockwell AI says it will be shutting down on July 1. The vending machine industry has suffered business losses of up to 90%, due to sanitation concerns during COVID-19 and the trend of people staying at home.

Stockwell has a layoff list (see link πŸ‘‡) that dates back to February, but it’s unclear how many of the folks on this list are still looking for jobs.

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

Layoffs Roundup: Thurs 6/4/20

Here’s a recap of the startup layoffs from this past week. If you’ve seen a layoff spreadsheet for any of these companies, please let us know!

See the Layoffs.fyi Tracker for a comprehensive list of all startup layoffs since COVID-19.

🏒 Stitch Fix βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© 1,400 employees (18%) βˆ™ πŸ”—Source

  • An online personal styling service, Stitch Fix said it will lay off 1,400 stylist employees in California between now and the end of September. It plans to replace these employees by hiring 2,000 stylists in lower-cost cities over the coming year. Laid-off employees will have the opportunity to relocate; those who don’t will receive 2 weeks or more of severance, extended healthcare, and a bonus for staying through the transition period.

🏒 TrueCar βˆ™ 🌎 Los Angeles βˆ™ πŸ‘© 219 employees (30%) βˆ™ πŸ”—Source

  • An automotive pricing website, TrueCar says the cuts come in anticipation of the termination of its revenue-sharing partnership with USAA. The timing and scope of the layoff was further accelerated by COVID-19. Laid-off employees will receive 13 weeks of base pay plus 1 week for each additional year of service beyond the first, along with healthcare coverage through 2020.

🏒 Monzo βˆ™ 🌎 London βˆ™ πŸ‘© 120 employees (8%) βˆ™ πŸ”—Source

  • A London-based digital bank, Monzo is laying off 120 of its U.K. employees. This comes on top of the 165 employees it laid off when it shut down its Las Vegas customer support office in April. The company also previously furloughed 295 U.K. employees. As consumers pull back on spending, Monzo generates less revenue from the interchange fees on its debit card products.

🏒 Kitty Hawk βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© “Most of” a 70-person team βˆ™ πŸ”—Source

  • Backed by Google co-founder Larry Page, Kitty Hawk is shutting down its electric flying car initiative and laying off most of that team’s 70 employees. However, the company is still working on a different autonomous electric aircraft initiative. Laid-off employees will receive at least 20 weeks of severance based on tenure, along with health insurance coverage through the end of the year.

🏒 Acorns βˆ™ 🌎 Portlandβˆ™ πŸ‘© 55 employees βˆ™ πŸ”—Source

  • Last week, Portland Business Journals reported that Acorns was shutting down its Portland office. A source tells Layoffs.fyi that over 55 employees were laid off as well, and that the support team was offshored. According to the source, Acorns closed both its Portland and Delaware offices and laid off most of its staff in New York.

🏒 Rivian βˆ™ 🌎 Detroit βˆ™ πŸ‘© 40 employees (2%) βˆ™ πŸ”—Source

  • An electric vehicle company, Rivian confirmed it laid off 40 employees in its Plymouth, Michigan office. One laid-off employee tells Layoffs.fyi that the actual number may be higher. In another example of differing accounts, The Verge reported that “former employees say they believe the cuts were related to the stresses of the COVID-19 pandemic, though Rivian says they were performance-based.”

🏒 SpotHero βˆ™ 🌎 Chicago βˆ™ πŸ‘© 40 employees (21%)βˆ™ πŸ”—Source

  • An app that helps people find parking spots, SpotHero has now reduced its staff by 70 employees across two rounds of layoffs since March. Parking solutions are in less demand now that people are staying at home.

🏒 Fundbox βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© 14 employees (15%) βˆ™ πŸ”—Source

  • A small business lending company, Fundbox announced a $20 million extension to its $326 million Series C in conjunction with the layoff. The company is also cutting management salaries by an unspecified amount. Fundbox says the COVID-19 crisis has harmed small and medium-sized businesses, which form the core of the company’s customer base.

🏒 MakerBot βˆ™ 🌎 New York City βˆ™ πŸ‘© 12 employees

  • A creator of 3D printers, MakerBot laid off a dozen employees amid declining revenues caused by school closures, according to an internal memo viewed by Layoffs.fyi. MakerBot’s layoff was part of a broader staffing cut by parent company Stratasys, which is laying off 240 employees in total.
Juul

Juul layoff list emerges; 1,550+ employees have been cut in the past year

🌎 San Francisco Bay Area βˆ™ πŸ‘© 1,550 employees βˆ™ πŸ–₯ All departments

Juul, a maker of e-cigarettes, laid off 900 employees (30%) last month in a move unrelated to the coronavirus. The company has been mired in controversy over its role in the rise of underage vaping.

Juul also laid off 650 employees last October, bringing the total number of employees cut in the past year to 1,550.

In the wake of these layoffs, two separate lists of ex-Juul employees have emerged (see links below πŸ‘‡). The official Juul Labs Alumni List contains 49 ex-employees actively looking for a job, though not all are from the most recent round of layoffs. The unofficial Juul layoff spreadsheet contains 79 ex-employees, but most were from last October’s layoff and may have already found new jobs.

Source: Coda.io

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

Magic Leap

Magic Leap avoids further layoffs with new $350 mm investment

Magic Leap, an augmented reality startup that laid off 1,000 employees (50%) last month, secured $350 million in a new investment round. As a result, the company will be able to prevent additional layoffs in the near future. (See? This site doesn’t only have bad news! 😸)

In late April, Magic Leap warned employees that a further staff reduction might be necessary if it wasn’t able to raise additional funding. Now, with $350 million more in the bank from existing and new investors, the company will be able to avoid the potential cut.

See below link πŸ‘‡for an opt-in list of Magic Leap employees laid off last month, including over 100 engineers.

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

Sandbox VR

Sandbox VR laid off its engineering team

🌎 SF Bay Area βˆ™ πŸ‘© Unknown # of employees βˆ™ πŸ–₯ Engineering

A virtual reality startup, Sandbox VR conducted a layoff last week. Its CEO also announced that he was laying himself off.

The layoff included Sandbox VR’s entire engineering team. See link below πŸ‘‡for the resumes of 5 laid-off engineers, who are spread across multiple locations.

UPDATE: Protocol reports that Sandbox VR laid off 80% of its staff, leaving a skeleton crew of 20 people.

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

Layoffs Roundup: Thurs 5/7/20

This week saw huge layoffs from Uber, Airbnb, and Juul. These 3 layoffs rank among the top 10 biggest in tech since the coronavirus was declared a pandemic.

Below are a few of the startup layoffs from this past week. Check out our tracker for a more comprehensive list. If you’ve seen a layoff spreadsheet for any of these companies, please let us know!

🏒 Uber βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘©3,700 employees (14%) βˆ™ πŸ”—Source

  • Ridesharing service Uber laid off 3,700 employees from its customer support and recruiting teams. The CEO’s letter to staff strongly hints that more cuts are coming in the next two weeks, including in engineering and product. As many as 5,400 employees are expected to ultimately be laid off.

🏒 Juul βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘©900 employees (30%) βˆ™ πŸ”—Source

  • A maker of e-cigarettes, Juul has been mired in controversy over its role in the rise of underage vaping. Its layoff is unrelated to the coronavirus. Juul is also planning to move its headquarters from San Francisco to Washington D.C., partially because its products are now banned in SF.

🏒 CureFit βˆ™ 🌎 Bengaluru βˆ™ πŸ‘© 800 employees (16%) βˆ™ πŸ”—Source

  • An India-based fitness startup, CureFit also permanently closed a number of its gyms. The coronavirus lockdown has crushed fitness companies, including U.S.-based ClassPass (53% of team laid off or furloughed) and Brazil-based Gympass (467 employees laid off).

🏒 Careem βˆ™ 🌎 Dubai βˆ™ πŸ‘© 536 employees (31%) βˆ™ πŸ”—Source

  • A ridesharing service acquired by Uber last year, Careem was one of the Middle East’s biggest startups. However, its business has dropped 80% post-coronavirus. Laid-off employees will receive at least 3 months of severance, 1 month of equity vesting, and extended visa and health insurance through 2020.

🏒 Namely βˆ™ 🌎 New York City βˆ™ πŸ‘© 160 employees (40%) βˆ™ πŸ”—Source

  • A maker of HR and payroll software, Namely 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.

🏒 Kayak / OpenTable βˆ™ 🌎 Stamford βˆ™ πŸ‘© 160 employees (8%) βˆ™ πŸ”—Source

  • Kayak and OpenTable, both subsidiaries of Booking Holdings Inc., laid off 160 employees and furloughed another 240 employees. The company’s revenue has “dropped tremendously from the COVID-19 crisis.”

🏒 Oyo βˆ™ 🌎 London βˆ™ πŸ‘© 150 employees βˆ™ πŸ”—Source

  • The self-proclaimed “world’s fastest growing hotel chain,” India-based Oyo plans to lay off 150-200 of its 300 employees in the UK. Oyo has already let go or furloughed thousands of employees globally in recent months. Its occupancy rate and revenue have dropped by over 50-60% since earlier this year.

🏒 Andela βˆ™ 🌎 New York City βˆ™ πŸ‘© 135 employees (10%) βˆ™ πŸ”—Source

  • An Africa-focused startup that provides “engineering as a service,” Andela expects a decline in customers due to the economic downturn. The company is also shifting its strategy from acting as a talent accelerator to serving as a talent outsourcing firm. No engineers were part of the layoff.

🏒 Care.com βˆ™ 🌎Boston βˆ™ πŸ‘© 81 employees βˆ™ πŸ”—Source

  • An online marketplace of caregivers, Care.com said its layoff was not related to the coronavirus. Rather, the cuts are the result of Care.com’s acquisition by IAC in February.

🏒 Stack Overflow βˆ™ 🌎 New York City βˆ™ πŸ‘© 40 employees (15%) βˆ™ πŸ”—Source

  • A popular Q&A site for engineers, Stack Overflow has been hardest hit in its Talent business, which helps companies recruit and hire developers. Most of the affected employees were furloughed, though some were permanently laid off.

🏒 TheSkimm βˆ™ 🌎 New York City βˆ™ πŸ‘© 26 employees (20%) βˆ™ πŸ”—Source

  • A media startup targeted towards millennial women, TheSkimm is offering laid-off employees at least one month of severance and health insurance through July. Digital media companies have suffered declining revenue as brands pull back on advertising during the economic slowdown.