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Over the previous five years, the tech sector had what seemed like unstoppable growth, but in 2022 it finally ran into an immovable object: a slowing global economy, as reported by NBC.
Economic downturn
This year, thousands of positions have been slashed at tech companies of all sizes as CEOs blamed poor financial outlooks on factors including inflation, rising interest rates, and declining sales of digital advertising.
The scope of the layoffs has been astounding; they have affected every aspect of the digital industry, from social media and cryptocurrency to farming robots and semi-autonomous vehicles.
During the current economic downturn, the IT sector has been struck more severely than other industries. According to a count of job losses at businesses that have made more than 100 cuts this year, 89,000 workers have lost their employment, according to NBC News.
This count doesn’t include jobs lost at smaller tech firms, though, which seems to have pushed the number of tech company layoffs this year to more than 137,000, according to Layoffs.fyi, a project of San Francisco entrepreneur Roger Lee.
List of layoffs
Here’s a list of the layoffs hammering the tech sector this year — with more than a month still to go before the calendar turns.
November
Hewlett-Packard: 4,000 – 6,000
The computer maker said in a Nov. 22 statement that it planned to reduce global headcount by about 4,000 to 6,000 people over the next few years.
Twitter: 5,200
A week after billionaire Elon Musk bought the microblogging site, he laid off about half of Twitter’s workforce Nov. 4, according to CNBC. Later, Musk said the company’s economic picture was “dire,” and he kept cutting down to 2,300 people left, according to Business Insider on Nov. 21.
Carvana: 4,000
The online used car dealer said Nov. 18 that it was laying off 1,500 people, according to an internal email obtained by CNBC. In May, the company had another round of layoffs affecting 2,500 people, according to a securities filing. Some found out over Zoom calls.
Nuro: 300
The maker of autonomous delivery vehicles told employees in an email posted online by the company that it was cutting 20% of its staff, or about 300 “Nurons,” on Nov. 18.
Amazon: 10,000
The online retail giant is in the process of laying off about 10,000 corporate and tech employees, though the total number of affected workers remains fluid and the process will continue into 2023, CNBC reported Nov. 17. Amazon paused corporate hiring Nov. 3. The company declined to comment beyond a Nov. 17 blog post by CEO Andy Jassy, who provided no exact figures.
Roku: 200
The entertainment platform said in a statement Nov. 17 that it was cutting 200 employee positions, reducing headcount expenses by 5%.
Orchard: 280
The home-buying website announced two rounds of layoffs in posts on LinkedIn on Nov. 17 and on June 23. Industry publication Inman said the layoffs affected 280 people total.
Cisco: 4,165
The networking company told the Silicon Valley Business Journal in a statement on Nov. 16 that it was cutting about 5% of its staff.
iFit: 300
The maker of exercise equipment, including under the NordicTrack brand, told The Salt Lake Tribune on Nov. 14 that it was cutting 20% of workers, which the newspaper calculated to be about 300 people. A spokesperson for iFit declined to confirm whether that calculation was correct.
Veev: 100
The manufacturer of prefabricated building supplies — a category known as “prop tech” — told the Silicon Valley Business Journal on Nov. 14 that it was cutting 30% of staff while it shifts focus.
Sema4: 750
The health testing and research startup said Nov. 14 that it was cutting 500 jobs, a few months after it had already cut 250 jobs and saw its president step down, according to statements the company gave to MobiHealthNews.
UiPath: 450
The maker of automation software said in a Nov. 10 security filing that it was cutting 6% of its workforce. Earlier, it said in a June 24 securities filing that it was cutting 5% of its 4,200-person workforce.
Meta: 11,000
The social media company — which owns Facebook and Instagram — said it cut about 13% of its workforce Nov. 9. CEO Mark Zuckerberg blamed the slowing economy for hurting ad sales.
Cameo: 167
The app that allows celebrities to sell personalized videos laid off 80 people on Nov. 9, The Information reported, citing a statement from the company. CEO Steven Galanis announced a layoff of 87 people in May.
AvantStay: 187
A vacation rental website, AvantStay has announced two rounds of layoffs this year, including cutting 144 people, or 22% of the workforce, on Nov. 9, the industry news site ShortTermRentalz reported. AvantStay did not respond to a request to confirm the figures.
Root: 467
The auto insurance startup said in a letter to shareholders Nov. 9 that it was cutting 20% of its head count. The Columbus Dispatch reported the total came to 137 jobs, in addition to 330 jobs cut in January.
Blend Labs: 520
The company, which makes software for lenders, announced job cuts three times this year in regulatory filings: 200 in April, 220 in August and 100 on Nov. 9.
Flyhomes: 400
A service for home buyers, the Seattle startup had two rounds of layoffs this year, including one in July that affected 20% of staff, GeekWire reported, adding that one source said 200 people were affected. It laid off another 40% around Nov. 9, an employee wrote on LinkedIn. Flyhomes declined to comment further or provide exact figures.
Redfin: 1,332
The real estate website and service cut its headcount by 862 on Nov. 7, including by eliminating its “iBuying” service RedfinNow, according to a securities filing. Back in June it cut 470 jobs, according to an earlier securities filing.
Salesforce: 999 at most
The business software firm, which occupies the tallest building in San Francisco, eliminated fewer than 1,000 jobs Nov. 7, CNBC reported. It employed 73,541 people as of January. Salesforce did not respond to a request for a more specific number.
Zendesk: 350
The software company specializing in customer support said Nov. 7 that it was cutting 5% of its workforce. SFGate reported the total number of jobs affected as 350. Zendesk did not respond to a request to confirm the number.
Lyft: 743
The ride-hailing app had two rounds of layoffs at its corporate offices this year: 60 people in July, according to a memo reported by The Wall Street Journal, and 683 people Nov. 3, according to a securities filing. The second round hit 13% of the company.
Stripe: 1,100
The online payments company cited “a different economic climate” including inflation and energy shocks when it cut about 14% of its staff Nov. 3. CNBC calculated the cuts affected about 1,100 people. Stripe declined to confirm that calculation or provide exact figures.
Opendoor: 550
The home-flipping business, facing a turbulent housing market, said in a blog post that the cuts Nov. 2 came to 18% of its workforce.
Chargebee: 142
The startup, which makes software for businesses to manage subscriptions and billing, cited market conditions for the cuts Nov. 2, TechCrunch reported, citing confirmation from the company.
Chime: 160
The online bank announced Nov. 2 it was laying off 12% of its workforce, according to a statement provided to CNBC.
Upstart: 140
The internet-based lender cited a “challenging economy” in cutting 7% of its workforce Nov. 1, according to TechCrunch, which cited confirmation from the company.
Gem: 100
A maker of recruiting software, the startup cut a third of its workforce Nov. 1, The Information reported. Gem did not respond to a request to confirm the numbers.
October
Booking.com: 226
The travel website said in a regulatory filing Oct. 31 that it was closing a Michigan call center.
Fifth Season: 100
A startup focusing on robotics for farming, Fifth Season shut down and laid off the entire company, the Pittsburgh Business Times reported Oct. 29. The company did not respond to a request for confirmation.
Mindbody: 400
The company, which makes booking software for gyms and yoga studios, laid off about 400 employees around Oct. 26, according to The Pragmatic Engineer, a newsletter. Mindbody did not respond to a request to confirm the number.
Zillow: 300
The real estate website cut 300 positions around Oct. 26, or about 5% of employees, as part of what it called “our normal business process,” TechCrunch reported, citing confirmation from the company.
Fundbox: 150
The maker of a financial platform for businesses cut 42% of its workforce, according to CTech Oct. 25, citing a letter to employees.
Snyk: 228
The cybersecurity company said that the cuts represented 14% of its workforce, CTech reported, citing a company statement Oct. 24. It was the second round of layoffs this year.
Cerebral: 400
A startup that provides mental health services, Cerebral cut 20% of its workers Oct. 24, Insider reported. Insider cited an anonymous former employee as saying that, as part of the cuts, about 400 care counselors were laid off. Cerebral confirmed the 20% figure but declined to comment on the total number of people affected.
Khoros: 120
The maker of customer experience software cut 10% of its staff, or about 120 employees, the Austin Inno reported Oct. 21. Khoros did not respond to a request for confirmation.
Gopuff: 2,000
Months after eliminating 1,500 staff members in July, the delivery service said Oct. 20 it was cutting another 250 jobs in October. It also had layoffs around March, putting the number close to 2,000, Bloomberg News reported. Gopuff did not respond to a request to confirm that number.
MX: 200
The banking software startup went through a restructuring, the Salt Lake Tribune reported Oct. 19. MX did not respond to a request for confirmation.
Microsoft: 2,800 at most
The software and cloud-computing company had two reported rounds of layoffs this year: one in October affecting fewer than 1,000 people, Axios reported Oct. 17, and one in July that eliminated less than 1% of its 181,000 employees. In an email to NBC News, Microsoft declined to provide a specific total.
Clear Capital: 378
A real estate tech firm, Clear Capital cited rising interest rates for laying off 27% of staff, TechCrunch reported Oct. 14. TechCrunch calculated that 378 people could have been affected, given a previously announced headcount of 1,400 employees. Clear Capital confirmed the 27% figure to NBC News but declined to confirm the number of people affected.
HelloFresh: 611
The maker of delivered meal kits said it was closing a facility in the San Francisco Bay Area, Business Insider reported Oct. 14, citing state regulatory filings.
Oracle: Undisclosed
The business software giant laid off 201 employees in the Bay Area, the San Francisco Chronicle reported Oct. 12, though the number of people affected may be far higher. The Information reported in July that Oracle executives discussed cutting thousands of jobs. The company announced a major restructuring in a Sept. 13 regulatory filing that put the cost of its plans at $888 million, primarily for employee severance. The company did not immediately respond to a request for a precise figure of people affected.
Pacaso: 100
A startup that allows people to co-own vacation homes, Pacaso slashed 30% of its workforce, industry publication Inman reported Oct. 11. Pacaso confirmed the numbers to NBC News.
Brex: 136
The maker of business financial software cut 11% of its staff, TechCrunch reported Oct. 11, citing confirmation from the company.
Noom: 500
A website for health coaching, Noom laid off 10% of its staff, TechCrunch reported Oct. 11. Noom did not respond to a request for confirmation.
Beyond Meat: 200
The plant-based food manufacturer said it cut about 19% of its workforce, according to an Oct. 10 regulatory filing.
Momentive: 176
The parent company of survey site SurveyMonkey said in an Oct. 10 regulatory filing that it had laid off 11% of its staff. It said it had 1,600 employees as of Dec. 31, 2021. Momentive declined to confirm the total number of people affected.
Peloton: 4,600
The maker of stationary bicycles announced a fourth round of layoffs this year, cutting 500 jobs Oct. 6. The biggest cut was in February, when Peloton slashed 2,800 jobs, Engadget reported. Peloton did not respond to a request to confirm the total.
Landing: 110
The apartment-rental site said it was restructuring after a move from San Francisco to Birmingham, Alabama, according to an Oct. 6 report from Alabama.com, citing confirmation from the company.
Homie: 159
The home-buying and home-selling website told the Deseret News on Oct. 4 that it had laid off 40 employees, after previously laying off 119 employees in February.
September
Truepill: Undisclosed
The health testing and diagnostics company had four rounds of layoffs this year, including one for 175 people and another for 150, TechCrunch reported, saying the most recent was Sept. 29. Truepill Chief Growth Officer Doreen Bortel said in an email to NBC News that the TechCrunch figure was not correct and that while Truepill had made “workforce adjustments this past year, our headcount has increased year over year.” She declined to provide an exact figure of people laid off.
DocuSign: 671
The website specializing in electronic agreements cited a general restructuring for eliminating 9% of its workforce, according to a Sept. 26 regulatory filing. SFGate estimated that 671 people were affected. DocuSign confirmed the 9% figure but declined to give an absolute number.
NYDIG: 110
The crypto firm told employees Sept. 22 that it was cutting about a third of its workforce, The Wall Street Journal reported. NYDIG did not respond to a request for confirmation.
Klarna: 800
The online lender cut about 100 jobs in September on top of about 700 people, or 10% of the company, who were affected by layoffs in May, Klarna confirmed to NBC News.
Kittyhawk: 100
The electric aviation startup said Sept. 21 that it had decided to close up shop, and it warned that layoffs would go into effect in November, SFGate reported, citing state regulatory filings.
Curative Health: 109
A startup that offered Covid-19 testing said Sept. 20 that the cuts were part of a change in priorities, Modern Healthcare reported, citing state regulatory filings.
Twilio: 865
The company, which specializes in communications tech for businesses, laid off 11% of its workforce, according to a Sept. 14 regulatory filing. Twilio had 7,867 employees as of Dec. 31, CNBC reported. A spokesperson for Twilio said the company would not confirm the number of people affected.
Taboola: 100
The cuts announced affected 6% of the digital advertising company’s workforce, CTech reported Sept. 13, citing a letter to employees.
August
Snap: 1,200
The owner of Snapchat said in August it was cutting 20% of its staff of more than 6,000 employees because of slowing ad sales, CNBC reported Aug. 31, citing company confirmation. It also scrapped plans for a photo-taking mini-drone named Pixy.
GoodRx: 140
The telemedicine company announced the cuts Aug. 30 in a securities filing, affecting 16% of its staff.
Packable: 510
The online retailer said Aug. 23 that it would liquidate and gradually lay employees off as it winds down the business, CNBC reported, citing a company memo.
Doma: 560
The homebuying tech company laid off 250 workers Aug. 19 on top of 310 job cuts in May, affecting about a quarter of its workforce in all, according to Inman, a real estate news site.
Wayfair: 870
The online retailer of furniture cut about 5% of its head count, according to an Aug. 19 regulatory filing, as growth slowed from a pandemic-era boom in online shopping.
New Relic: 110
The startup, which makes software for other software developers, announced the cuts Aug. 18 in a securities filing.
Malwarebytes: 125
The Aug. 17 layoffs at the cybersecurity company affected 14% of its workforce, TechCrunch reported, citing a company co-founder.
GoHealth: 800
An online marketplace for health insurance, GoHealth told the Chicago Sun-Times on Aug. 11 that the cuts affected about 20% of its workforce.
Nutanix: 270
The cloud computing company said in a securities filing Aug. 9 that the layoffs represented about 4% of total employees.
Groupon: 500
The coupon company laid off 15% of its workforce Aug. 8, citing “overall business underperformance,” TechCrunch reported with confirmation from the company.
Vroom: 337
The vehicle marketplace said in a securities filing Aug. 8 that it had cut 337 positions since announcing a restructuring in May.
iRobot: 140
The maker of robot vacuum cleaners cut 10% of staff after Amazon bought the company, GeekWire reported Aug. 5, citing company confirmation.
Jam City: 150
The video game developer said Aug. 4 it had cut 17% of its headcount, citing the “challenging global economy,” VentureBeat reported. Jam City did not respond to a request for confirmation of the total number of people affected.
10x Genomics: 100
The biotech company laid off 8% of staff, GenomeWeb reported Aug. 4. 10x Genomics confirmed the numbers to NBC News.
HealthCare.com: 149
The health insurance marketplace announced the job cuts Aug. 3, Miami Inno reported, citing state regulatory filings.
Latch: 245
The home-and-office security company said in a statement Aug. 2 that a cut of 115 jobs affected 37% of staff. An earlier round of job cuts in May affected 130 people.
Robinhood: 1,140
The stock-and-crypto trading app said it slashed 23% of its workforce Aug. 2, affecting about 800 people, SFGate estimated. It was the second round for the company this year, after cutting 340 people in April. Robinhood did not respond to a request for confirmation of the total.
July
Ribbon: 136
A startup that allows homebuyers to make cash offers for a fee cut one-third of its staff, Inman reported July 28, citing company confirmation.
Rivian: 840
The maker of electric vehicles including delivery vans said in July it was laying off about 6% of its workforce, CNN reported July 28, citing an email from management.
Shopify: 1,000
The e-commerce website said July 26 it was laying off about 10% of its workforce, citing a slowdown in the growth of online shopping after a coronavirus-fueled boom, CNBC reported.
Appgate: 130
The cybersecurity firm told employees July 25 that it was cutting 22% of total staff, according to a securities filing.
Rad Power Bikes: 163
The maker of electric bikes had two rounds of layoffs this year: 63 employees July 21 and 100 employees April 12, according to GeekWire, which cited company confirmation.
Gemini: 170
The cryptocurrency exchange founded by the Winklevoss twins cut 7% of employees, or 68 people, around July 18, TechCrunch reported. A month earlier it had cut 10%. Gemini did not respond to a request for confirmation of the total.
Invitae: 1,000
The genetics startup said in a July 16 securities filing that it was laying off more than 1,000 employees.
Calibrate Health: 156
The weight-loss startup cut 24% of its workforce, Bloomberg reported July 15. Calibrate Health did not respond to a request for confirmation.
Fabric: 120
The robotics startup said July 13 that it was layoffing off 40% of them, TechCrunch reported, citing company confirmation.
Tonal: 262
The fitness equipment manufacturer told CNBC July 13 that it was cutting 35% of its workforce.
Argo AI: 150
The autonomous vehicle tech startup laid off about 5% of its workforce, TechCrunch reported July 7. Argo AI did not respond to a request for confirmation.
Celsius Network: 150
The cryptocurrency platform said July 3 that the cuts would affect a quarter of its staff, CTech reported, citing a company blog post. The company later filed for bankruptcy protection, and in an Oct. 11 court filing said that 102 staff had left the company since it filed for bankruptcy.
June
Enjoy Technology: 400
The gadget retailer cut about 18% of its workforce as it filed for bankruptcy, Crunchbase News reported June 30, citing bankruptcy filings.
Weee!: 150
The online grocery app cut 10% of its employees, Business Insider reported June 29, citing anonymous sources. Weee! declined to comment on the number of people affected.
Unity: 200
The video game company laid off “slightly more than 200 people,” or 4% of its workforce, Protocol reported June 29. A spokesperson told NBC News that more than half of them were rehired within other parts of the business, so in the end, only about 1% of the workforce was affected.
StockX: 120
Cuts at the sneaker seller affect 8% of headcount, The Information reported June 28. StockX did not respond to a request for confirmation.
Cue Health: 170
The medical testing company confirmed the job cuts to MobiHealthNews on June 27.
AppLovin: 300
The advertising startup cut 12% of its workforce, AdExchanger reported June 27. It affected about 300 people, the Silicon Valley Business Journal reported, citing company confirmation.
Netflix: 450
The streaming service laid off about 300 employees, about 3% of headcount, in the wake of slower revenue growth, CNBC reported June 23. It had laid off 150 employees a month earlier.
MasterClass: 120
CEO David Rogier tweeted June 22 that he was laying off 20% of staff. It affected about 120 people, the online education company told TechCrunch.
Intuit: 715
The tax and business software firm said June 22 that it was overhauling its business and prioritizing “the most important work.”
Tesla: 3,475
Musk said June 21 that the electric carmaker’s layoffs would affect around 3.5% of its overall workforce. Tesla said it employed 99,290 people as of the end of 2021. More than 500 employees were laid off at one Nevada factory, according to a lawsuit by former employees. Tesla did not respond to a request for confirmation of the total.
SummerBio: 101
The Covid-19 testing startup announced June 20 that it was shutting down and laying off 101 workers, according to Bay Area Inno and the company’s website.
Notarize: 110
The online notary service told the Boston Business Journal on June 15 that it was cutting 25% of its workforce.
Coinbase: 1,100
One of the largest cryptocurrency exchange companies said June 14 it was slashing 18% of its jobs, marking the beginning of what some analysts called a possible “crypto winter.”
BlockFi: 170
A crypto lending startup, the company cited a “dramatic shift in macroeconomic conditions” when it slashed 20% of its staff, CNBC reported June 13.
Crypto.com: 260
CEO Kris Marszalek cited the broader market downturn in trimming 5% of its corporate workforce June 10.
Stitch Fix: 330
The online fashion company told CNBC on June 9 that it was laying off 15% of salaried positions.
OneTrust: 950
The maker of privacy software cut about 25% of its workforce, citing “capital markets sentiment” in a June 9 statement.
Bird: 138
The e-scooter startup laid off 23% of its staff, a move that TechCrunch calculated on June 7 as equal to around 138 employees. Bird did not respond to a request for confirmation.
Sonder: 200
The short-term rental website said in a June 6 securities filing that it was cutting 21% of its corporate workforce and 7% of “front line” roles. At the end of 2021, the company said it had 800 salaried and 800 hourly employees. Sonder did not respond to a request for confirmation of the total.
Policygenius: 170
The online insurance company cut about 25% of its staff, Axios reported June 6, citing company confirmation.
Carbon Health: 250
The healthcare company eliminated about 8% of its workforce, citing “changing market conditions” in a June 2 statement.
May
Lacework: 300
The cybersecurity startup confirmed to Protocol on May 25 that job cuts affected 20% of staff. The Pragmatic Engineer, a newsletter, said the total came to about 300 jobs. Lacework did not respond to a request for confirmation.
Bolt: 250
The online payments startup eliminated about a third of its workforce as part of what CEO Maju Kuruvilla called a broad restructuring, Bloomberg reported May 25, citing an anonymous source. Bolt confirmed that it laid off a third of its workforce but declined to provide an absolute number.
Butler Hospitality: 1,000
The startup, a kind of “ghost kitchen” model for hotel room service, quietly dissolved May 13, laying off its entire workforce, TechCrunch reported.
Zwift: 150
The indoor cycling and sports app laid off about 150 people and canceled its hardware plans, sports tech journalist Ray Maker reported May 12, citing sources. A spokesperson for Zwift declined to confirm the figure.
Reef: 750
The startup that finds alternative uses for parking lots laid off 5% of its workforce, citing the broader economy, The Information reported May 6. Reef did not respond to a request for confirmation.
March
Curology: 147
The skin care website cut about 20% of its workforce March 16, according to the San Francisco Business Times, citing state filings.
Knock: 115
The home-buying and home-selling startup said in a press release March 15 that it needed to cut costs because of turmoil in the housing market. Bloomberg reported 46% of 250 workers were affected. A spokesperson said the Bloomberg report was “close” but declined to provide an exact number.
Better.com: 3,000
The online mortgage lender laid off about a third of its workforce in March. It has continued layoffs since then without providing a number, TechCrunch reported in August. A spokesperson for Better.com did not immediately know the total number of people affected.
Adaptive Biotechnologies: 100
The startup, which researches the human immune system, told The Seattle Times on March 9 that it was laying off about 12% of its workforce.
Hyperscience: 100
The document-processing software startup laid off about 25% of its staff, The Information reported March 3. Hypescience did not respond to a request for confirmation.
February
Virgin Hyperloop: 111
The experimental transport company confirmed to the Financial Times on Feb. 21 that it was pivoting to focus on freight, affecting nearly half its staff.
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Source: NBC
