Layoffs Roundup: Thurs 4/23/20

Almost 300 startups have now laid off nearly 30,000 employees since the coronavirus pandemic began.

Below are a few notable layoffs from this past week. You can check our tracker for a more comprehensive report. As always, if you’ve seen a layoff spreadsheet for any of these companies, please let us know!

🏒 Magic Leap βˆ™ 🌎 Miami βˆ™ πŸ‘© 1,000 employees (50%) βˆ™ πŸ”—Source

  • One of the most prominent augmented reality startups, Magic Leap decided to abandon its consumer business and instead focus on enterprise use cases. Despite raising over $2 billion in funding, the company has found it challenging to release a mainstream product or generate meaningful revenue.

🏒 Lending Club βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© 460 employees (30%) βˆ™ πŸ”—Source

  • An online lender, Lending Club said its layoff was the result of tightening credit markets and a drop in demand for personal loans, the company’s flagship product.

🏒 Houzz βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© 155 employees (10%) βˆ™ πŸ”—Source

  • An online platform for home remodeling, Houzz said that social distancing measures has led to lower demand for its pro subscriptions, which connect home remodeling professionals with potential customers. Houzz is providing laid-off employees with severance packages based on tenure and 3 months of benefits.

🏒 CarGurus βˆ™ 🌎 Boston βˆ™ πŸ‘© 130 employees (13%) βˆ™ πŸ”—Source

  • A marketplace for cars, CarGurus said that dealers have been forced to close due to stay-at-home orders, “effectively pausing vehicle sales.”

🏒 Greenhouse Software βˆ™ 🌎 New York City βˆ™ πŸ‘© 120 employees (28%) βˆ™ πŸ”—Source

  • A maker of applicant tracking software, Greenhouse is the latest recruiting startup to conduct a layoff. Competitor Lever laid off 86 employees (40%) a week before. Greenhouse is offering laid-off employees 8 weeks of severance and 8 months of healthcare.

🏒 ConsenSys βˆ™ 🌎 New York City βˆ™ πŸ‘© 91 employees (14%) βˆ™ πŸ”—Source

  • An incubator of Ethereum projects, ConsenSys cited the coronavirus pandemic as the cause of its layoff. However, the company did not elaborate on exactly how the pandemic has affected its business.

🏒 Casper βˆ™ 🌎 New York City βˆ™ πŸ‘© 78 employees (21%) βˆ™ πŸ”—Source

  • A direct-to-consumer mattress startup, Casper also decided to close its European operations. The company hopes the job cuts will help it achieve profitability by mid-2021. One laid-off employee said, “though I am unsure what tomorrow holds, I do know that before tomorrow must come a good night’s sleep.”

🏒 Freshbooks βˆ™ 🌎 Toronto βˆ™ πŸ‘© 38 employees (9%) βˆ™ πŸ”—Source

  • An accounting software company, Freshbooks said its small business customers have been affected by the economic fallout caused by the coronavirus. Freshbooks was planning to raise additional capital before COVID-19, suggesting that one motivation for the layoff was to extend the company’s cash runway.

🏒 Sweetgreen βˆ™ 🌎 Los Angeles βˆ™ πŸ‘© 35 employees (10%) βˆ™ πŸ”—Source

  • A fast casual salad chain, Sweetgreen’s business has plummeted because of shelter-in-place. An employee said that app order volume has fallen by 2/3. Sweetgreen raised $150 million in funding last year, becoming possibly the only salad restaurant ever to raise venture capital.

🏒 Patreon βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© 30 employees (13%) βˆ™ πŸ”—Source

  • Patreon, which enables artists and creators to accept money from their fans, said that the layoff was caused by “several other factors beyond the financial ones.” It cited a recent performance review cycle and a new company strategy, in addition to the current economic uncertainty.

🏒 People.ai βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© 30 employees (18%) βˆ™ πŸ”—Source

  • A maker of predictive sales software, People.ai denied that the coronavirus pandemic has had any negative effect on its business. It said the layoff was simply to protect against future uncertainty. As would be expected of a sales startup, People.ai also listed multiple examples of how the company is in an extremely strong position.

🏒 Lambda School βˆ™ 🌎 SF Bay Area βˆ™ πŸ‘© 19 employees βˆ™ πŸ”—Source

  • A training program for aspiring software engineers, Lambda School said the layoff was meant to reflect a shift in priority away from growth and towards student experience. The startup has recently received criticism for the quality of its program and for engaging in misleading marketing.
Carta

Carta laid off 161 employees, citing customer slowdown

🌎 San Francisco, Salt Lake City, Rio de Janeiro βˆ™ πŸ‘© 161 employees (16%)βˆ™ πŸ–₯ All departments

Carta, which makes software that helps companies manage the equity they’ve issued to investors and employees, laid off 161 people (16%) last week. Carta is providing affected employees 3 months of pay and healthcare insurance until the end of the year — one of the more generous packages I’ve seen.

UPDATE: The link to Carta’s layoff spreadsheet has been removed upon their request.

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

Nav

Nav laid off 30 employees

🌎 Salt Lake City βˆ™ πŸ‘© 30 employees (20%) βˆ™ πŸ–₯ All departments

Nav, which offers a variety of credit solutions to small businesses, laid off 30 employees (20%), according to a former employee. See below linkπŸ‘‡for a partial list of employees laid off in Salt Lake City. As the economy slows down due to the coronavirus, fintech startups that make money off commissions or transactions have experienced several layoffs.

Source: Google Sheets

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

Jetty

Jetty laid off 40% of staff after pausing sales of new insurance policies

🌎 New York City βˆ™ πŸ‘© 35 employees (40%) βˆ™ πŸ–₯ Primarily business roles

Jetty, which sells insurance to renters, laid off 40% of its team (35 employees) earlier this month. See below linkπŸ‘‡for a partial list of employees laid off, which skews towards business roles in NYC. Jetty had recently paused sales of new insurance policies due to coronavirus-related underwriting challenges. The company says the layoff was unrelated to the pause.

Source: Google Sheets

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

Layoffs Roundup: Thurs 4/16/20

Layoffs continue to ripple through the startup ecosystem. Notable events from the past 2 days include a 35% layoff from Opendoor and a 30% layoff from VSCO.

Below are a few other recent layoffs. Check our tracker for a comprehensive report. If you’ve seen a layoff spreadsheet for any of these companies, please let us know so we can help the affected people!

  • The RealReal, an online marketplace for consigned luxury goods, laid off 10% of its employees and furloughed another 15%. Retailers and e-commerce companies have been among the hardest hit by the coronavirus pandemic, due to stay-at-home orders and a pullback in consumer discretionary spending.
    • 🌎 SF Bay Area βˆ™ πŸ‘© 235 employees (10%) βˆ™ πŸ”—Source
  • GoPro, which makes action cameras, said it will cut over 200 employees. With fewer opportunities to sell through retail stores, the company will shift its focus to selling directly online.
    • 🌎 SF Bay Area βˆ™ πŸ‘© 200 employees (20%) βˆ™ πŸ”—Source
  • Zume, which uses robots to make pizza while it’s being delivered, laid off 2/3 of its team. The CEO decided against using similarly-named Zoom to announce the layoff, choosing instead to send out a company-wide email.
    • 🌎 SF Bay Area βˆ™ πŸ‘© 200 employees (67%) βˆ™ πŸ”—Source
  • Carta, which makes software that helps companies manage the equity they’ve issued to investors and employees, laid off 161 people (16%). It believes a slower economy will lead to fewer customers than originally projected. Carta is providing affected employees 3 months of pay and healthcare insurance until the end of the year.
    • 🌎 SF Bay Area βˆ™ πŸ‘© 161 employees (16%) βˆ™ πŸ”—Source
  • TouchBistro, a point-of-sale system for restaurants, laid off 131 employees (23%). Most of its restaurant customers have closed due to shelter-in-place.
    • 🌎 Toronto βˆ™ πŸ‘© 131 employees (23%) βˆ™ πŸ”—Source
  • Neon, a Brazil-based digital bank, laid off 70 employees (10%). Other Brazilian fintech startups like C6 Bank and Creditas have also recently conducted layoffs.
    • 🌎 Sao Paulo βˆ™ πŸ‘© 70 employees (10%)βˆ™ πŸ”—Source
  • Envoy, which makes a front desk visitor sign-in system, laid off 30% of its staff (58 employees). Its business has been affected by office closures across the country.
    • 🌎 SF Bay Area βˆ™ πŸ‘© 58 employees (30%) βˆ™ πŸ”—Source

Layoffs Roundup: Tues 4/14/20

The Layoffs.fyi Tracker has now confirmed 230 startups w/ layoffs and 22,000 employees laid off since the coronavirus was declared a pandemic.

Below are a few of the recent layoffs. Check our tracker for a comprehensive report. If you’ve seen a layoff spreadsheet for any of these companies, please let us know so we can help the affected people!

  • Groupon, a marketplace for discounts from local businesses, said it expects to lay off or furlough 44% of its team (2,800 employees). Previous reports suggested that only the sales and sales operations teams were affected, but the company’s announcement confirms a significantly deeper cut. Groupon has seen a “material deterioration” in its business due to the closure of local businesses it works with.
    • 🌎 Chicago βˆ™ πŸ‘© 2,800 employees (44%) βˆ™ πŸ”—Source
  • Meow Wolf, an art collective that creates interactive experiences, laid off 201 employees. Its art installations and live events have been cancelled due to shelter-in-place.
    • 🌎 Santa Fe βˆ™ πŸ‘© 201 employees βˆ™ πŸ”—Source
  • Monzo, an online bank, closed its Las Vegas office and laid off all 165 customer support employees there. The decision was in the works prior to the coronavirus pandemic.
    • 🌎 Las Vegas βˆ™ πŸ‘© 165 employees βˆ™ πŸ”—Source
  • OneTrust, which makes software that helps companies comply with privacy regulations, laid off 10-15% of its 1,500 employees. The company raised funding at a $2.7 billion valuation just two months ago.
    • 🌎 Atlanta βˆ™ πŸ‘© 150 employees (10%) βˆ™ πŸ”—Source
  • Omie, a Brazilian startup that sells business management software to small businesses, laid off 136 employees (15%).
    • 🌎 Sao Paulo βˆ™ πŸ‘© 136 employees (15%) βˆ™ πŸ”—Source
  • Zoox, a maker of self-driving taxis, is laying off 100 employees (10%). The news comes just one week after it laid off all 120 of its contract workers, including its backup drivers. Shelter-at-home orders have affected Zoox’s ability to continue testing its self-driving vehicles.
    • 🌎 San Franciscoβˆ™ πŸ‘© 100 employees (10%) βˆ™ πŸ”—Source
  • Domo, which creates business intelligence software to help executives manage their business, cut roughly 10% of its staff (about 90 people). The layoff was needed to ensure the company wouldn’t run out of money.
    • 🌎 Salt Lake City βˆ™ πŸ‘© 90 employees (10%) βˆ™ πŸ”—Source
  • Clinc, which uses AI to create virtual assistants, laid off 32% of its staff (40 employees). In February, the company’s CEO resigned after employee complaints of inappropriate behavior.
    • 🌎 Ann Arbor βˆ™ πŸ‘© 40 employees (32%)βˆ™ πŸ”—Source
  • Mejuri, a startup that sells fine jewelry, laid off 15% of its team. Its retail stores have been closed since late March due to the ban on non-essential businesses.
    • 🌎 Toronto βˆ™ πŸ‘© 36 employees (15%) βˆ™ πŸ”—Source

Layoffs Roundup: Thurs 4/9/20

Unicorn startups and notable consumer brands headlined the layoff news over the past couple of days. In the 4 weeks since the coronavirus was declared a pandemic, nearly 200 startups in total have conducted layoffs, affecting over 17,000 employees.

Below are a few of the recent layoffs. Check our Layoffs Tracker for a comprehensive report. If you’ve seen a layoff spreadsheet for any of these companies, please let us know so we can help the affected people!

  • Toast, which makes software for restaurants, cut 50% of its staff, or around 1,300 employees. Its success is “tightly coupled” with the restaurant industry, which has seen sales decline by 80% in most cities. Toast raised money at a $5 billion valuation in February.
    • 🌎 Boston βˆ™ πŸ‘©β€πŸ’Ό 1,300 employees (50%) βˆ™ πŸ”—Source
  • Eventbrite, the ticketing and events website, laid off 45% of its employees. The company is highly dependent on live events, which have halted as a result of shelter-in-place. Its share price had fallen over 70% since mid-March.
    • 🌎 San Francisco βˆ™ πŸ‘©β€πŸ’Ό 500 employees (45%) βˆ™ πŸ”—Source
  • ezCater, a corporate catering startup, laid off over 400 employees (44%). “We’re a company that feeds meetings, and meetings are not happening much right now,” the company said.
    • 🌎 Boston βˆ™ πŸ‘©β€πŸ’Ό 400 employees (44%) βˆ™ πŸ”—Source
  • Redfin, a real estate brokerage, laid off 7% of staff and either cut or furloughed 41% of its field agents. The company said that most agents would earn more from unemployment insurance than from Redfin. New listings, home tours, and home sales have all cooled due to the coronavirus pandemic.
    • 🌎 Seattle βˆ™ πŸ‘©β€πŸ’Ό 236 employees (7%) βˆ™ πŸ”—Source
  • Groupon, a marketplace for discounts from local businesses, conducted a round of layoffs and furloughs. The Chicago Tribune says that β€œsignificant portions” of its sales and sales operations teams were affected, while employee posts on LinkedIn suggests that the cuts spanned more broadly. Between 200-350 employees were laid off, according to these posts.
    • 🌎 Chicago βˆ™ πŸ‘©β€πŸ’Ό 200-350 employees βˆ™ πŸ”—Source
  • Newfront Insurance, a commercial insurance brokerage, laid off 94 employees. The startup has eschewed publicity but had grown headcount rapidly since founding in 2017.
    • 🌎 San Franciscoβˆ™ πŸ‘©β€πŸ’Ό 94 employees βˆ™ πŸ”—Source
  • Away, a direct-to-consumer maker of luggage and travel accessories, furloughed about half of its team and laid off an additional 10% (60 employees). Sales of its products have fallen by more than 90% over the past few weeks, since people are not traveling.
    • 🌎 New York City βˆ™ πŸ‘©β€πŸ’Ό 60 employees (10%) βˆ™ πŸ”—Source
  • Lever, which makes applicant tracking software, laid off 40% of its staff, according to a laid-off employee. The economic impact of COVID-19 has slowed down hiring (and as we know, increased the pace of layoffs). ZipRecruiter, another recruiting site, also held recent layoffs.
    • 🌎 San Francisco βˆ™ πŸ‘©β€πŸ’Ό 40% of employees
  • Zola, a website for creating wedding registries, laid off 20% of its team. Due to social distancing measures, couples have been delaying their weddings en masse.
    • 🌎 New York City βˆ™ πŸ‘©β€πŸ’Ό 20% of employees βˆ™ πŸ”—Source

Metromile

Metromile laid off 100 employees

🌎 San Francisco βˆ™ πŸ‘©β€πŸ’Ό100 employees (33%) βˆ™ πŸ–₯ All departments

Metromile, which sells car insurance based on actual miles driven, laid off 100 employees yesterday (see below link for list πŸ‘‡). The layoffs occurred in San Francisco, Boston, and Tempe. Metromile cited “economic uncertainties as a result of COVID-19” as the reason for the layoffs. One would guess that the company’s revenues have plummeted since customers have been driving far fewer miles.

Source: Google Sheets

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

Layoffs Roundup: Thurs 4/2/20

This week Layoffs.fyi has already tracked 23 startups that cut jobs, affecting over 1,500 employees. And there’s still two days left ☹️.

Below are a few of this week’s layoffs. Check out our Layoffs Tracker for a comprehensive, real-time report. If you’ve seen a layoff spreadsheet for any of these companies, please let us know!

  • KeepTruckin, which helps trucking companies manage their fleets, laid off 349 employees (18%). This comes just one month after the company’s previous round of layoffs.
  • Thumbtack, a marketplace for local services like cleaners and plumbers, laid off 250 employees (30%). Due to shelter-in-place, business has fallen by over 50% in markets like San Francisco, Detroit, and New York City.
    • 🌎 San Francisco, Salt Lake City βˆ™ πŸ‘©β€πŸ’Ό 250 employees (18%) βˆ™ πŸ”—Source
  • Rover, a dog-walking and pet-sitting service, laid off 194 employees (41%). Pet owners no longer need Rover’s service because they’re now staying at home.
    • 🌎 Seattle βˆ™ πŸ‘©β€πŸ’Ό 194 employees (41%) βˆ™ πŸ”—Source
  • RigUp, which provides labor services to the energy industry, laid off 120 employees (25%). Oil and gas companies are in the middle of an economic downturn.
    • 🌎 Austin βˆ™ πŸ‘©β€πŸ’Ό 120 employees (25%) βˆ™ πŸ”—Source
  • Turo, a car-sharing company, laid off 108 employees (30%). Consumers are no longer renting cars because of shelter-in-place. Competitor Getaround also conducted recent layoffs.
    • 🌎 San Francisco βˆ™ πŸ‘©β€πŸ’Ό 108 employees (30%) βˆ™ πŸ”—Source
  • PatientPop, which helps healthcare providers manage the patient experience, laid off 100 employees, according to a LinkedIn post by an ex-employee.
    • 🌎 Los Angeles βˆ™ πŸ‘©β€πŸ’Ό 100 employees
  • uShip, which makes shipping software, laid off 65 employees (37%).
    • 🌎 Austin βˆ™ πŸ‘©β€πŸ’Ό 65 employees (37%) βˆ™ πŸ”—Source
  • Showpad, which makes software to improve sales teams’ productivity, laid off 52 employees (12%). It blamed the economic fallout caused by the coronavirus.
    • 🌎 Chicago βˆ™ πŸ‘©β€πŸ’Ό 52 employees (12%) βˆ™ πŸ”—Source
  • PeerStreet, a crowdfunding platform for investing in real estate loans, laid off 30% of their staff (50+ employees), according to an HR employee. Layoffs.fyi was the first to report the news.

PeerStreet

BREAKING: LA-based PeerStreet lays off 50+ employees

🌎 Los Angeles βˆ™ πŸ‘©β€πŸ’Ό 50+ employees (30%) βˆ™ πŸ–₯ All departments

PeerStreet, a crowdfunding platform for investing in real estate loans, laid off 30% of their staff yesterday. According to an HR employee, the company let go over 50 employees across multiple departments (see link below for the listπŸ‘‡). PeerStreet is the first fintech startup to do a layoff post-COVID 19, but the 3rd one beginning with “Peer” (along with Peerspace and Peerfit).

Source: Google Sheets

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