The ongoing surge of layoffs within the tech industry continues to accelerate into 2024. After experiencing substantial downsizing in the preceding two years, the current year has already witnessed the termination of 60,000 positions across 254 firms, as reported by the independent layoffs tracker Layoffs.fyi. High-profile companies such as Tesla, Amazon, Google, TikTok, Snap, and Microsoft have executed significant layoffs early in the year. Moreover, several smaller startups have also been affected, leading to a considerable number of layoffs and, in some instances, complete shutdowns.
Monitoring these layoffs helps in comprehending the broader effects on innovation within both large and small companies. Additionally, it highlights the potential implications of the widespread adoption of AI and automation for roles previously deemed secure. It also serves as a poignant reminder of the personal toll these layoffs can have and the potential risks to innovation growth.
Below you will find an extensive list detailing all the Verified layoffs within the tech sector that have occurred in 2024, which will be continually updated. Should you have information on a layoff, please reach out to us. For those wishing to remain anonymous, a contact option is available.
July 2024
Match Group
Has ended livestreaming services on several dating platforms, including Plenty of Fish and BLK, shifting its focus towards generative AI technology. This strategic pivot is leading to a 6% reduction in its workforce.
Bungie
Announced the layoff of 220 employees, which constitutes about 17% of the game studio’s workforce. Changes will affect employees at all corporate levels, including senior management and executive positions, as stated by CEO Pete Parsons.
Pocket FM
Reportedly dismissed nearly 200 U.S. writers following a partnership with ElevenLabs to expedite script conversion to audio content leveraging AI.
WayCool Foods
Reportedly has let go of over 200 staff members across several departments, marking the third significant downsizing event for the agritech firm within the past year.
Webflow
Communicated its decision to reduce its workforce by approximately 8% as part of its strategic plan for future growth phases.
Cohere
Reportedly is laying off around 20 employees, which represents nearly 5% of its workforce. The cuts followed closely after a substantial funding round raising $500 million, valuing the company at $5 billion.
Magic Leap
Allegedly cut around 75 of its employees, completely dissolving its augmented reality sales and marketing teams in a strategic shift.
Mercari
Reportedly is reducing its U.S. workforce by nearly half as it faces stiff competition in the e-commerce sector from rivals like Temu.
Aqua
Is eliminating 50 positions, which represents 10% of its total workforce. Earlier in the year, the cybersecurity firm achieved a unicorn valuation after securing $60 million in funding.
EverC
Reportedly is reducing its 165-person staff by 10%. The company is known for its online fraud prevention cyber intelligence software.
Lex
Has dismissed most of its approximately eight-person staff as the LGBTQ+ social networking platform grapples with monetization challenges. Last year, Lex raised $5.6 million in seed funding, marking its third year in operation.
Monarch Tractor
Reduced its workforce by “less than” 15% of its 250-to-300-person team as part of an organizational reshuffle following a $133 million Series C financing round, as uncovered by TechCrunch.
Kaspersky
Will terminate numerous positions and completely withdraw from the U.S. market in response to a government order barring sales of the company’s software, citing security concerns.
Salesforce
Has eliminated approximately 300 roles as part of its initiative to curb expenses and streamline operations.
Intuit
Announced a staff reduction of 1,800 employees, affecting 10% of its workforce. The company states that more than half the cuts are due to performance issues, emphasizing its intention to hire a similar number of employees rather than focusing on cost reduction.
UiPath
Is undergoing a significant restructuring process, resulting in the loss of 420 jobs, which amounts to 10% of its total workforce.
UKG
Has cut an estimated 2,200 positions, nearly 14% of its total staff, as the software firm shifts resources to emphasize “key areas of product innovation.”
OpenText​​
Plans to reduce its workforce by approximately 1,200 jobs, almost 2% of its total employee base, as part of its strategy to significantly lower expenses by 2025.
Unacademy
Is reducing its staff by roughly 250 employees as part of the latest in a succession of job cut rounds following the reopening of schools across India after pandemic shutdowns.
Koo
Is ceasing its operations following the collapse of ultimatum acquisition talks with Dailyhunt.
Upside Foods
Has reduced its workforce by 26 employees, as communicated by CEO Uma Valeti in a staff email, amidst decreased venture capital funding in the lab-grown meat sector.
Sightful
Is cutting 20 positions, equating to one-third of its workforce, as the firm refocuses its efforts on software development.
June 2024
RealPage
Plans to reduce its workforce by approximately 4% as part of its growth enhancement strategy, although it is also entangled in a consolidated lawsuit accusing it of price fixing.
Planet
Aims to downsize its staff by approximately 180 employees, 17% of its workforce, as evidenced by an SEC filing and a subsequent CEO note, marking its second significant layoff phase in recent times.
Moxion Power
Is laying off more than 100 employees, according to a WARN filing. These layoffs arrive after the company expanded its office footprint in Richmond, California.
eBay
Is reportedly conducting a series of layoffs in Israel as part of a broader organizational restructuring.
BeReal
Is reportedly reducing its staff significantly following the acquisition by French gaming giant Voodoo.
Flutterwave
Has dismissed around 30 employees, 3% of its total workforce, as it narrows its business focus towards enterprise clients.
Ginkgo Bioworks
Has terminated 158 employees, with anticipations of additional layoffs as the firm aims to decrease its workforce by a quarter.
Moovit
Is reducing its team by 10%, impacting between 20 to 25 employees.
Wex
Is undergoing a reduction of 375 employees, making up 5% of its entire workforce.
PayPal
Will downsize up to 85 positions based in Ireland, as announced by the company.
Rapyd
Is reportedly enacting layoffs of around 30 employees in Israel and plans to relocate positions to other regions as a measure to curtail expenses.
C2FO
Has reduced its staff by 16 employees within its supplier resource management department as it pivots towards automation.
Chegg
Is downsizing 23% of its global workforce in a significant restructuring move to streamline its operations into a more efficient, lean model.
StackPath
Is ceasing operations and proceeding to liquidate its assets. The total number of affected employees is not disclosed.
Unit
Is reducing its staff by 15% in its strategic shift towards long-term planning, as outlined in a company blog post.
Loop
Is implementing additional layoffs, as disclosed by co-CEO Carey Anne Nadeau via LinkedIn. The exact number of affected employees remains undisclosed.
Care/of
Will terminate its 143 employees by July 3 due to a “funding loss,” ceasing to accept new orders. Though not completely shut down, the company told TechCrunch, “We are actively seeking options for the brand but lack definitive plans to announce at this moment.”
Running Tide
Has ceased operations and TechArena.au
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