Major Tech Layoffs in 2024: An Updated Tracker

Major Tech Layoffs in 2024: An Updated Tracker

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Major Tech Layoffs in 2024: An Updated Tracker

@financepresentations2 days ago

IT LEADERSHIP IT STAFFING & CAREERS
Tech Layoffs: The COVID Tech Bubble Bursts
UPDATED 12/17/2024…

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At a Glance
Updated December 17, 2024 with layoff announcements from Yahoo, Foundry and
Calendly.…

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Boost SaaS growt…

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Yahoo laid off about 25% of its cybersecurity team over the last year, according to
TechCrunch. Si…

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we’ve made strategic adjustments, including transitioning offensive security operations
to an outs…

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customer experience, marketing, and billing departments will be affected by the
organizational cha…

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Bluevine, December 10, 2024 announcement. Layoff of 100
people, 18% of workforce.
The fintech com…

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Circle, December 5, 2024 announcement. Layoff of 50 people,
6% of workforce.
Circle Internet Fina…

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crucial detail left out of the announcement: Stash was also restructuring and laying off
40% of it…

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the cuts won't impact or inhibit the strategic review. Lightspeed reportedly initiated the
restruc…

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Currently, it remains unknown if the redundancies are related and whether these are
separate job c…

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growth,” a company representative said in a statement. However, Pickett had a much
different outlo…

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CEO Roland Busch announced that Siemens could lay off up to 5,000 employees
globally in its strugg…

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Chegg, November 12, 2024 announcement. Layoff of 319
people, 21% of workforce.
The e-learning com…

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Enphase Energy, November 11, 2024 announcement. Layoff of
500 people, 17% of workforce.
The Fremo…

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business to prioritize non-agricultural customers, license its autonomous technology,
and boost sa…

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competitive. Those priorities include its payments platform, fintech and generative AI.
Stay tuned…

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delivery orders leading up to Christmas. According to the report, redundancies came
after Just Eas…

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with most occurring in January or February but continuing through next June. “Progress
acquired th…

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be closed because of the move. Outreach has initiated several rounds of layoffs over the
past few …

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and organizational structure to focus our investments on the areas that will most
effectively adva…

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structure has become overly complex, with excess layers of management slowing us
down,” Houston sa…

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Consensys plans to pull back and focus on supporting proven “core” winners in its
portfolio, which…

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Kyte, October 25, 2024 announcement. Layoff of 40% of
workforce.
Amid an ongoing effort to surviv…

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Founder Sheena Allen announced operations at Capway have been shut down in a
LinkedIn post on Wedn…

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Starting on New Year's Eve, the cloud computing company will layoff 69 employees from
its Santa Cl…

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The hiring startup that connects companies with technical freelance workers such as
developers and…

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empowered decision-making across all levels. We believe these changes will make us
more effective …

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Northvolt, September 23, 2024 announcement. Layoff of
1,600 people, 20% of workforce.
In an effor…

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Notable Labs, September 20, 2024 announcement. Layoff of
65% of workforce.
The cancer-focused bio…

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Microsoft is laying off an additional 650 employees from its gaming business, according
to a memo …

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shut down of operations has yet to be announced, it appears that a closure and
workforce eliminati…

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non-mainstream. It was faddy. Fads don’t last,” HeraldPR CEO Juda Engelmayer told The
Post.
Motif…

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The web browser and search startup laid off 27 employees across multiple departments,
which accoun…

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IBM, August 26, 2024 announcement. Layoff of 1,000 people.
IBM will completely eliminate its China…

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growth trajectory.” Around 50 employees will be impacted by the shutdown, according
to Received's …

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Five9, August 20, 2024 announcement. Layoff of 190 people,
7% of workforce.
The San Ramon, Calif.…

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The agriculture resilience platform is laying off 19% of its workforce, according to a
LinkedIn po…

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In an effort to optimize business operations, the Los Angeles-based infrastructure
company laid of…

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In a LinkedIn post on Monday, CEO Jason Brown announced that the fintech company
would be shutting…

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READY Robotics, the Ohio-based company best known for its ForgeOS robot-agnostic
operating system,…

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As it navigates volatility within the media landscape, Axios co-founder and CEO Jim
VandeHei annou…

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The video game developer and publisher that is behind releases like DC Heroes &
Villains, Disney E…

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according to Parsons. The cuts will impact every level of the company, including most of
its execu…

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After most of its workforce was furloughed on July 19, the Bay Area battery maker is
shutting down…

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Webflow, July 25, 2024 announcement. Layoff of 8% of
workforce.
The San Francisco-based software …

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Mercari U.S., July 19, 2024 announcement. Layoff of 50% of
workforce.
Amid struggles with falling…

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Kaspersky's software due to security risks, according to TechCrunch. In addition,
Kaspersky will r…

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its expansion in Canada, the UK, and Australia, and will also attempt to hire more fintech
talent …

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Microsoft initiated another round of layoffs that affected several teams and geographies,
though t…

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In its latest round of layoffs, the Indian edtech company is laying off about 250
employees, accor…

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The real estate technology company is laying off 4% of its workforce as it grapples with a
major c…

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35% of its workforce of about 1,200 employees, according to the Boston Globe. Though
Ginkgo Biowor…

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After laying off 205 employees from its Irish operations in February, PayPal has
announced it will…

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Loop, June 16, 2024 announcement. Layoff of 23 people, 77%
of workforce.
The car insurance startu…

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has recently been successful in deploying and operationalizing its new Mark V satellites.
As a res…

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move reportedly arrives in response to the Reserve Bank of India's (RBI) ban on services
provided …

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The Norway-based online supermarket delivery startup is laying off 150 employees,
according to Tec…

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Google is laying off 100 employees across several Cloud “Go To Market” teams in the AsiaPacific re…

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In an effort to streamline operations, the local search-and-discovery company is laying
off 105 em…

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Silo, May 22, 2024 announcement. Layoff of 30% of
workforce.
The Bay Area food supply chain softw…

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In an effort to become profitable by the end of 2024, the Philadelphia-based quickdelivery company…

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Ioniq 5. The concept is being pushed to 2026, which is two years later than it was initially
plann…

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operations, to further equip its field teams to locally manage, and be accountable for,
their mark…

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CEO Aaron Emigh confirmed that the smart home startup has laid off its entire
workforce, shut down…

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Luminar is laying off 140 employees, or 20% of its workforce, amid plans to rely heavier
on its co…

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restructuring will position Peloton for sustained, positive free cash flow, while enabling
the com…

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April 2024 Tech Layoffs
Tesla, April 30, 2024 announcement. Layoff of 500 people.
Just weeks afte…

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Prioritizing investments that can enable Google to capitalize on future opportunities
appears to b…

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this month, Ola ended business operations in the U.K., Australia, and New Zealand.
Significant inv…

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public LinkedIn post from its corporate page. Freenome's move arrives amid a push
towards optimizi…

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Take-Two, April 16, 2024 announcement. Layoff of 579 people,
5% of workforce.
The GTA 6 publisher…

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February that would be a “redesign of our Training and Quality team that will enable us
to further…

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Founder Abhimanyu Saxena, in a statement obtained by Entrackr. Scaler is parting with
employees th…

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JP Chauvet in February 2022. However, in February of this year, Dasilva returned to the
CEO role w…

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Yummly, April 3, 2024 announcement. Layoff of entire
workforce.
The Whirlpool-backed recipe and c…

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ShopBack, March 19, 2024 announcement. Layoff of 195
people, 24% of workforce.
The Singapore-base…

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Fisker, February 29, 2024 announcement. Layoff of about 200
people, 15% of workforce.
Chairman an…

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Sony Interactive, February 27, 2024 announcement. Layoff of
900 people, 8% of workforce.
Sony's P…

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Expedia, February 26, 2024 announcement. Layoff of 1,500
people, 8% of workforce.
CEO Peter Kern …

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destination for ‘superfan’ culture that will define the future of commerce, digital media
and musi…

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Farfetch, February 16, 2024 announcement. Layoff of 2,000
people, 25% of workforce.
In an effort …

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Cisco, February 14, 2024 announcement. Layoff of 4,250
people, 5% of workforce.
The tech giant is…

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The data management company is laying off 275 employees accounting for 4% of its
workforce accordi…

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The online signature provider initiated a restructure plan to improve financial and
operational ef…

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The biotechnology company over-hired during the coronavirus pandemic, leading to
this layoff annou…

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Zoom, February 1, 2024 announcement. Layoff of 150 people,
2% of workforce.
The video software co…

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“Over the past few weeks, literally until earlier today, we exhausted every option available
and h…

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iRobot, January 29, 2024 announcement. Layoff of 350
people, 31% of workforce.
Amazon will no lon…

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Flexport, January 26, 2024 announcement. Layoff of 20% of
workforce.
The San Francisco logistics …

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already begun to refocus teams and invest in areas that drive outsize value for our core
audience,…

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Vroom, January 23, 2024 announcement. Layoff of 800
people, 90% of workforce.
The American used-v…

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SolarEdge, January 21, 2024 announcement. Layoff of 900
people, 16% of workforce.
In response to …

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YouTube, January 17, 2024 announcement. Layoff of 100
people.
Google's sprawling restructure that…

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Discord, January 11, 2024 announcement. Layoff of 170
people, 17% of workforce.
In an effort to p…

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“We've identified opportunities to reduce or discontinue investments in certain areas
while increa…

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Unity, January 8, 2024 announcement. Layoff of 1,800 people,
25% of workforce.
The San Francisco-…

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NuScale Power, January 5, 2024 announcement. Layoff of
40% of workforce.
Just over one year ago, …

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Frontdesk, January 2, 2024 announcement. Layoff of entire
workforce.
The proptech startup that pr…

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Intel Spokesman Addy Burr in an issued media statement. Intel will continue invest in
areas core t…

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to focus on more deliberate commercialization plans with safety as our north star,”
Elshenawy wrot…

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Sojern, December 13, 2023 announcement. Layoff of at least
100 people, 20% of workforce.
The digi…

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The cuts announced this week arrive following turbulent times at Zulily, including
multiple rounds…

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continue to reinvent travel and expense through innovation,” wrote a Navan
spokesperson via email …

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execute its strategy. The latest cuts arrive in an effort to streamline their offerings and
will d…

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impact product, design, technology and analytics teams, as well as Vox.com and the
animal-focused …

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In an effort to cut costs in pursuit of a never-ending grind toward profitability, the
German micr…

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a global economic downturn continues to make its presence felt. Despite the decreased
investment i…

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campaign coordinated by the UNI Global Union. The Union announced that strikes and
protests would …

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Amazon, November 17, 2023 announcement. Layoff of several
hundred roles.
As part of a mass shift …

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spending on pet treats. Chewy was sold to PetSmart in 2017 for $3.35 billion, but
ultimately decid…

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As of yesterday, Nextdoor announced a cost reduction plan that will target a reduction of
its curr…

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Pico, the China-based virtual reality (VR) arm of ByteDance laid off hundreds of
employees as the …

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“The changes we are announcing are not a result of our agreement with Cisco; they are
the continua…

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Salsify, October 25, 2023 announcement. Layoff of 110 people.
The Boston-based e-commerce software…

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wasn’t an option due to liability concerns from potential suitors,” said current CEO John
Urban wh…

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its workforce according to Yahoo Finance. As the crypto industry grapples with
widespread staffing…

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Stack Overflow, October 16, 2023 announcement. Layoff of
28% of workforce.
The question-and-answe…

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Qualcomm, October 12, 2023 announcement. Layoff of 1,258
people, 2.5% of workforce.
The semicondu…

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in a restructure plan to enable long term growth.
Enovix, October 5, 2023 announcement. Layoff of …

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After the shared micromobility company was delisted from the NYSE last week, CEO
Michael Washinush…

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Chainalysis, October 2, 2023 announcement. Layoff of 150
people, 15% of workforce.
The blockchain…

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Sage Therapeutics, September 15, 2023 announcement.
Layoff of 290 people, 40% of workforce.
The b…

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“In order to continue our important work to ensure we operate efficiently, we’ve made
the hard dec…

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The mobile computing company announced today that it will be laying off 700
employees accounting f…

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opportunities, such as focusing on the higher value, higher margin Taegis solutions,
optimizing th…

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Customer Operations, Bill Scannell in a statement to CRN. By coordinating sales teams
with partner…

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Technologies has yet to officially announce the cuts. However, that hasn't stopped
employees from …

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end its low tier non-sports offering in the U.S. and UK. This move allows the company to
focus on …

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The online personal shopping company announced the closing of its Pennsylvania
warehouse along wit…

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Evernote, July 7, 2023 announcement. Layoff of 98 people, all
of U.S. workforce.
After being acqu…

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IRL, June 23, 2023 announcement. Layoff of entire workforce.
IRL, Gen Z's do-it-all social app cre…

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other reasons were the catalyst for the restructure according to Bitwise's internal memo.
The comp…

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Haven Technologies, June 1, 2023 announcement. Layoff of
280 people, 70% of workforce.
The MassMu…

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our workforce so that we can more efficiently drive our business forward — a decision we
do not ta…

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SoundCloud, May 23, 2023 announcement. Layoff of 8% of its
workforce.
In an all-hands meeting, CE…

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The health IT giant became Oracle's largest acquisition ever when the deal closed in
June 2022, bu…

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includes pausing plans to ramp up commercial operations in 2023 and delay volume
production of its…

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challenging macroeconomic environment, Akamai has implemented a reduction of a
little less than 3%…

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of vendors,” CEO Ryan Roslansky wrote in his memo to employees. These vendors will
act as external…

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Shopify, May 4, 2023 announcement. Layoff of 2,300 people,
20% of workforce.
Despite posting a su…

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The software company announced its third and largest reduction within the past year, as
recession …

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hiring for back-office functions such as human resources will be suspended or slowed
according to …

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and help it to achieve profitability faster than ever. “Our key strategic go-to-market
initiatives…

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RapidAPI, April 25, 2023 announcement. Layoff of at least 115
people, 50% of workforce.
The start…

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the layoffs in a note to employees, saying he wants to do more to meet the needs of
riders and dri…

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In an effort to save upwards of $115m and trim operational costs, Lenovo has initiated
layoffs in …

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and simplify organizational layers to get closer to customers and improve its overall
speed, agili…

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reporting. 1K Kirana struggled to raise fresh funding due to investors' increased focus on
profita…

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employees. The announcement makes EA the first major videogame publisher to
disclose significant l…

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Iger noted that employees impacted from today's memo will be notified by Disney this
week, with a …

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Twitch, March 20, 2023 announcement. Resignation of former
CEO and co-founder Emmett Shear. Layoff…

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acquiring and hiring within the industry. Meta also plans to close almost 5,000 job
postings that …

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Every department at SiriusXM will be impacted from the layoffs announced by CEO
Jennifer Witz acco…

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Ericsson, Feb. 20, 2023 announcement. Layoff of 1,400 people.
Telecoms gear maker Ericsson will sl…

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company's Yahoo for Business advertising unit, which is not profitable, according to
Axios.
Affir…

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After placing hundreds of employees on personal improvement plans (PIP),
multinational edtech comp…

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spokesperson publicly confirmed the move stating, “OLX is taking the necessary
measures to reduce …

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Microsoft, Jan. 18, 2023 announcement. Eliminating 10,000
jobs, less than 5% of workforce.
A publ…

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Salesforce CEO Marc Benioff said in a letter to employees on January 4 that the current
environmen…

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the pandemic growth rates, and the company needed to get its operating expenses in
line with its r…

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wanted to work out at home. But demand has dropped as some aspects of life, such as
gym attendance…

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Major Tech Layoffs in 2024: An Updated Tracker

@financepresentations

As COVID-19 shifted many operations online, tech companies significantly expanded their workforces, leading to what is now referred to as the COVID tech bubble. However, as we enter 2024, many of these firms are now facing significant layoffs, echoing the past dot-com bust. This presentation will provide insights into the latest tech layoffs and the skills still in demand amidst this disruption.

Tech

#COVIDImpact #JobMarketTrends #TechLayoffs #TechIndustry #ITCareers

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