Tag: Real Estate

Layoffs Roundup: Thurs 4/9/20

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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 ∙ 👩‍💼 1,300 employees (50%) ∙ 🔗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 ∙ 👩‍💼 500 employees (45%) ∙ 🔗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 ∙ 👩‍💼 400 employees (44%) ∙ 🔗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 ∙ 👩‍💼 236 employees (7%) ∙ 🔗Source
  • Groupon, a marketplace for discounts from local businesses, conducted a round of layoffs and furloughs. The Chicago Tribune says that “significant 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 ∙ 👩‍💼 200-350 employees ∙ 🔗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 Francisco∙ 👩‍💼 94 employees ∙ 🔗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 ∙ 👩‍💼 60 employees (10%) ∙ 🔗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 ∙ 👩‍💼 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 ∙ 👩‍💼 20% of employees ∙ 🔗Source

Blueground

Blueground laid off 130 employees

Layoff list, , , ,

🌎 New York City, San Francisco, Los Angeles ∙ 👩‍💼130 employees (25%) ∙ 🖥 Mostly business roles

Blueground, an apartment rental company, laid off 130 people (25%) last week. It joins many other real estate startups to conduct layoffs during the coronavirus pandemic. Recruiters — see below link for a partial list of laid-off employees 👇. The list spans people in business roles across New York, San Francisco, Los Angeles, and Chicago.

View list of employees laid off ->

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

Convene

Convene laid off 150 employees

Layoff list, ,

🌎 New York City ∙ 👩‍💼150 employees (18%) ∙ 🖥 All departments

Convene, which provides flexible office space, laid off 150 people last month. It had already closed all of its locations. If you’re recruiting in New York City, see below link 👇 for a partial list of ex-Convene product managers and engineers on the market. Coworking startups WeWork, Knotel, Industrious, and The Wing have also conducted layoffs in the past month in light of the coronavirus pandemic.

View list of employees laid off ->

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

Layoffs Roundup: Mon 4/6/20

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Last week we tracked 50 startup layoffs affecting over 4,000 people. The post-Coronavirus tally has now crossed 10,000 employees laid off ☹️.

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!

  • MindBody, which creates scheduling software for gyms, fitness studios, and spas, laid off or furloughed 700 employees. Nearly 95% of their customers are closed due to shelter-at-home orders.
    • 🌎 San Luis Obispo ∙ 👩‍💼 700 employees (35%) ∙ 🔗Source
  • Sojern, an ad-tech startup servicing travel companies, cut 300 employees, about half its staff. Travel advertising in general fell by as much as 90% in March.
    • 🌎 San Francisco ∙ 👩‍💼 300 employees (50%) ∙ 🔗Source
  • AdRoll, an ad retargeting company, laid off 174 employees. According to an employee, the Salt Lake City and New York City offices were most affected.
    • 🌎 Salt Lake City ∙ 👩‍💼 174 employees
  • Velodyne Lidar, which designs sensor systems used in driverless cars for companies like Uber, laid off 140 employees. Workers say the company is using the coronavirus as an excuse when they’ve long been planning to transfer production overseas.
    • 🌎 San Francisco ∙ 👩‍💼 140 employees ∙ 🔗Source
  • ThirdLove, a startup that sells bras and underwear, laid off 30% of its team. Other direct-to-consumer companies like Everlane and Brandless were struggling even before COVID-19 due to rising customer acquisition costs.
    • 🌎 San Francisco ∙ 👩‍💼 94 employees (35%) ∙ 🔗Source
  • Industrious, a provider of flexible office space, laid off 20% of its staff (90 employees) and enacted furloughs or reduced hours for another 10%. The company joins a growing list of modern real estate companies that have conducted layoffs, including WeWork, Sonder, and Knotel.
    • 🌎 New York City ∙ 👩‍💼 90 employees (20%) ∙ 🔗Source
  • Arrive Logistics, a freight brokerage, cut 75 employees (7%) and furloughed another 35. It cited the coronavirus outbreak’s negative impact on freight markets.
    • 🌎 Austin ∙ 👩‍💼 75 employees (7%) ∙ 🔗Source
  • Bustle Digital Group, a media company that owns Bustle, Elite Daily, and Mic, laid off 24 employees. The entire staff of The Outline, a culture site, was let go as part of the layoff.
    • 🌎 New York City ∙ 👩‍💼 24 employees ∙ 🔗Source
  • The Wing, a co-working space for women, laid off half of its headquarters staff. It said it saw 95% of its revenue “disappear overnight.”
    • 🌎 New York City ∙ 👩‍💼 50% of employees ∙ 🔗Source

Layoffs Roundup: Thurs 4/2/20

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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 ∙ 👩‍💼 250 employees (18%) ∙ 🔗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 ∙ 👩‍💼 194 employees (41%) ∙ 🔗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 ∙ 👩‍💼 120 employees (25%) ∙ 🔗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 ∙ 👩‍💼 108 employees (30%) ∙ 🔗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 ∙ 👩‍💼 100 employees
  • uShip, which makes shipping software, laid off 65 employees (37%).
    • 🌎 Austin ∙ 👩‍💼 65 employees (37%) ∙ 🔗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 ∙ 👩‍💼 52 employees (12%) ∙ 🔗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

Layoff list, , ,

🌎 Los Angeles ∙ 👩‍💼 50+ employees (30%) ∙ 🖥 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 list👇). 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).

View list of employees laid off ->

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

Peerspace

Peerspace laid off 40+ employees due to impact of social distancing

Layoff list, ,

🌎 San Francisco ∙ 👩‍💼 40 employees ∙ 🖥 All departments

Peerspace, a marketplace for booking space for events and meetings, laid off a majority of their staff last week (see link below for the list👇). The company has seen bookings slow and cancellations increase dramatically due to social distancing measures.

View list of employees laid off ->

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

Zeus

Zeus Living laid off 80 employees

Layoff list, , ,

🌎 San Francisco∙ 👩‍💼 80 employees (30%) ∙ 🖥 All departments

We previously mentioned that Zeus Living, which rents out furnished apartments on a monthly basis to business travelers, laid off 80 employees. We now have a list of affected employees (see link below👇). The list spans across engineering, product, and business roles.

View list of employees laid off ->

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

Layoffs Roundup: Mon 3/30/20

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Since Thursday, unicorn startups ZipRecruiter, WeWork, Knotel, Getaround, and OneWeb have each laid off hundreds of employees, and over 20 startups in total have cut jobs.

Below are a few of the recent 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!

  • ZipRecruiter, the online hiring marketplace, laid off over 400 employees (39%). The company has seen its customers drastically slow down hiring and expects to miss revenue projections.
    • 🌎 Santa Monica ∙ 👩‍💼 400 employees (39%) ∙ 🔗WSJ
  • WeWork, the co-working company, laid off 250 employees. This follows a previous round of layoffs in November, but is supposedly unrelated to the coronavirus pandemic.
    • 🌎 New York City ∙ 👩‍💼 250 employees ∙ 🔗Reuters
  • Everlane, an e-commerce site for luxury clothing, laid off or furloughed 200 workers, primarily in their retail and backend operations functions.
    • 🌎 San Francisco ∙ 👩‍💼 200 employees ∙ 🔗WWD
  • Knotel, which leases office space to companies, laid off 127 employees (30%) and furloughed an additional 68 employees (20%). The layoffs affected multiple departments and locations. Real estate startups like Knotel continue to suffer due to the coronavirus pandemic.
  • Getaround, the car sharing startup, laid off 100 employees (25%). This follows a previous round of layoffs in January. Getaround is suffering from both the coronavirus pandemic as well as a pullback in funding from its main backer, Softbank.
    • 🌎 San Francisco ∙ 👩‍💼 100 employees (25%) ∙ 🔗BizJournals
  • OneWeb, which builds satellites that provide internet access, filed for bankruptcy and announced layoffs. It said it had failed to secure further funding.
    • 🌎 London ∙ 👩‍💼 Hundreds of employees ∙ 🔗BBC
  • Zipcar, the rental car company, laid off 20% of staff. The travel industry continues to be disrupted by the coronavirus.
    • 🌎 Boston ∙ 👩‍💼 Hundreds of employees (20%) ∙ 🔗BostonInno
  • Restaurant365, which makes restaurant management software, laid off a “big chunk” of its 400 employees. It has seen a 75% decline in YoY sales.
  • Textio, which helps companies write better job descriptions, laid off 30 employees (20%).
    • 🌎 Seattle ∙ 👩‍💼 30 employees (20%) ∙ 🔗Geekwire
  • B8ta, a retailer for consumer electronics and home goods, laid off over half of its corporate staff and furloughed its retail employees.
    • 🌎 San Francisco ∙ 👩‍💼 50% of corporate employees ∙ 🔗Retail Dive
  • Pivot3, which develops hyperconverged infrastructure, laid off a significant portion of its 250 employees.
  • DataRobot, which helps companies manage their machine learning models, significantly reduced headcount.
    • 🌎 Boston ∙ 👩‍💼 Unknown # affected ∙ 🔗BostonInno

Layoffs Roundup: Thurs 3/26/20

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Coronavirus-related tech layoffs continue to pile up this week, particularly in real estate and travel. 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!

Real estate

  • Sonder, which offers short-term apartment rentals, laid off or furloughed 400 employees. Bookings are down 20% at the company’s 5,000 apartments.
    • 🌎 San Francisco ∙ 👩‍💼 400 employees (33%) ∙ 🔗The Real Deal
  • Zeus Living, which rents out furnished apartments on a monthly basis to business travelers, laid off 80 employees.
    • 🌎 San Francisco ∙ 👩‍💼 80 employees (30%) ∙ 🔗Crunchbase News
  • The Guild, which offers short-term stays at luxury apartments, laid off 38 employees.
    • 🌎 Austin ∙ 👩‍💼 38 employees (22%) ∙ 🔗Austin Inno

Travel

  • TripActions, whose software helps companies manage corporate travel, laid off 300 workers. The layoffs primarily affected customer support, recruiting, and sales. Employees were notified of the layoff via a group Zoom call.
    • 🌎 Palo Alto ∙ 👩‍💼 300 employees (25%) ∙ 🔗TechCrunch
  • Cabin, a luxury sleeper-bus service, laid off an unknown (but likely small) number of employees.
    • 🌎 San Francisco ∙ 👩‍💼 Unknown # affected ∙ 🔗The Information

Other industries

  • Leafly, an online resource on cannabis, laid off 91 employees.
    • 🌎 Seattle ∙ 👩‍💼 91 employees (50%) ∙ 🔗GeekWire
  • Foodsby, which delivers restaurant food to office buildings, laid off 80 people. Demand is down since restaurants are closing and customers are no longer going into the office.
    • 🌎Minneapolis ∙ 👩‍💼 80 employees (67%) ∙ 🔗Minne Inno
  • Rangle, a development agency, initiated a temporary layoff for 78 staffers. Rangle’s clients are paring back spending due to the coronavirus pandemic.
    • 🌎 Toronto ∙ 👩‍💼 78 employees (30%) ∙ 🔗BetaKit
  • OutboundEngine, which creates marketing software for small businesses, laid off 52 employees.
    • 🌎 Austin ∙ 👩‍💼 52 employees (28%) ∙ 🔗BizJournals
  • Wonderschool, which helps people start their own in-home preschools or daycares, laid off 50 employees. Shelter-in-place orders means that parents are keeping their kids at home.
    • 🌎 San Francisco ∙ 👩‍💼 50 employees (75%) ∙ 🔗EdSurge
  • SpotHero, an app that helps people find parking spots, laid off an unknown number of employees. Urban parking isn’t a problem when people are staying at home.
    • 🌎 Chicago ∙ 👩‍💼 Unknown # affected ∙ 🔗Chicago Inno
  • Eight Sleep, an online mattress retailer, laid off 20% of staff.