Layoffs | TechCrunch

Unit and Loop lay off staff and Brex ditches co-CEO model

Mary Ann Azevedo — Tue, 18 Jun 2024 17:05:00 +0000

Welcome to TechCrunch Fintech! This week, we’re looking at layoffs at BaaS startup Unit and car insurance company Loop, as well as Brex’s decision to abandon its co-CEO model, Apple killing its Pay Later feature, and more! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Tuesday […]

After 20 months of trying to raise funds, insurance startup Loop cuts staff

Dominic-Madori Davis — Mon, 17 Jun 2024 21:39:31 +0000

Loop, the car insurance company co-founded by Harlem Capital co-founder John Henry, has laid off staff as the company struggles with fundraising. Henry took to Instagram to post the email his co-founder Carey Nadeau sent to impacted staff on June 16th. Nadeu also posted the letter to LinkedIn. It stated that this was the “absolute […]

A comprehensive list of 2024 tech layoffs

Cody Corrall, Alyssa Stringer — Fri, 14 Jun 2024 19:20:00 +0000

The tech layoff wave is still going strong in 2024. Following significant workforce reductions in 2022 and 2023, this year has already seen 60,000 job cuts across 254 companies, according to independent layoffs tracker Layoffs.fyi. Companies like Tesla, Amazon, Google, TikTok, Snap and Microsoft have conducted sizable layoffs in the first months of 2024. Smaller-sized […]

Layoffs Got You Down? Get a Half-Price Expo+ Pass at Disrupt 2024

TechCrunch Events — Wed, 12 Jun 2024 16:00:00 +0000

Layoffs are tough. This year alone, we’ve already seen 60,000 job cuts across 254 companies according to layoffs.fyi. Looking for ways to grow your network can be even harder during uncertain times. To help those who’ve been impacted by a layoff within the last year (from any company, region, or industry) and are still looking […]

Revel to lay off 1,000 staff ride-hail drivers, saying they’d rather be contractors anyway

Rebecca Bellan — Thu, 06 Jun 2024 16:43:37 +0000

New York-based Revel has made a lot of pivots since initially launching in 2018 as a dockless e-moped sharing service. The BlackRock-backed startup briefly stepped into the e-bike subscription business. It launched and now operates a handful of electric vehicle charging stations across the five boroughs. And it started an all-Tesla, all-employee ride-hail service, in […]

Elon Musk’s X: A complete timeline of what Twitter has become

Amanda Silberling, Cody Corrall, Alyssa Stringer — Wed, 05 Jun 2024 20:45:00 +0000

Welcome to Elon Musk’s X. The social network formerly known as Twitter where the rules are made up and the check marks don’t matter. Or do they? The Tesla and SpaceX CEO announced his bid to buy Twitter in April 2022, zealously driven to rid the platform of spam bots and protect free speech. Musk […]

SoftBank-backed grocery startup Oda lays off 150, resets focus on Norway and Sweden

Anna Heim — Wed, 05 Jun 2024 17:30:34 +0000

It’s not just instant-delivery startups that are struggling. Oda, the Norway-based online supermarket delivery startup, has confirmed layoffs of 150 jobs as it drastically scales back its expansion ambitions to focus on just two markets, its home base and Sweden, the home base of Mathem, an online grocery retailer that Oda merged with last year. […]

Fisker cuts hundreds of workers in bid to keep EV startup alive

Sean O'Kane — Wed, 29 May 2024 22:17:19 +0000

Struggling EV startup Fisker has laid off hundreds of employees in a bid to stay alive, as it continues to search for funding, a buyout or prepare for bankruptcy. Workers suspected layoffs were coming when the company directed everyone to work from home on Wednesday — an out-of-character directive, according to multiple current and former […]

Lucid Motors slashes 400 jobs ahead of crucial SUV launch

Sean O'Kane — Fri, 24 May 2024 12:19:39 +0000

Lucid Motors is laying off about 400 employees, or roughly 6% of its workforce, as part of a restructuring ahead of the launch of its first electric SUV later this year. The company said in a regulatory filing on Friday morning that it expects to complete the restructuring by the end of the third quarter […]

Foursquare just laid off 105 employees

Connie Loizos — Fri, 24 May 2024 04:27:10 +0000

Foursquare, the location-focused outfit that in 2020 merged with Factual, another location-focused outfit, is joining the parade of companies to make cuts to one of its biggest cost centers – employees – in 2024. Per an email sent out to staffers Thursday afternoon by current CEO Gary Little and viewed by TechCrunch, 105 employees were […]

Food supply chain software maker Silo lays off ~30% of staff amid M&A discussions

Sarah Perez — Wed, 22 May 2024 23:14:04 +0000

Silo, a Bay Area food supply chain startup, has hit a rough patch. TechCrunch has learned that the company on Tuesday laid off roughly 30% of its staff, or north of two dozen employees. Silo has confirmed the headcount reductions, clarifying the cuts were across the board and not focused on individual departments. Silo shared […]

Paytm warns of job cuts as losses swell after RBI clampdown

Manish Singh — Wed, 22 May 2024 04:17:37 +0000

Paytm, a leading financial services firm in India, said its net loss widened in the fourth quarter as it grappled with a regulatory clampdown.

SeekOut, a recruiting startup last valued at $1.2 billion, lays off 30% of its workforce

Marina Temkin — Mon, 20 May 2024 17:47:01 +0000

The company says it's refocusing and prioritizing fewer initiatives that will have the biggest impact on customers and add value to the business.

Motional cut about 550 employees, around 40%, in recent restructuring, sources say

Rebecca Bellan — Tue, 14 May 2024 19:10:00 +0000

Around 550 employees across autonomous vehicle company Motional have been laid off, according to information taken from WARN notice filings and sources at the company. Earlier this week, TechCrunch reported that Motional is pausing commercial operations and delaying plans to launch a robotaxi service with its next-gen Hyundai Ioniq 5 robotaxis until 2026 as it […]

Tesla’s profitable Supercharger network is in limbo after Musk axed the entire team

Tim De Chant — Sat, 11 May 2024 15:00:00 +0000

Here's what one insider said happened in the days leading up to the layoffs.

Luminar cuts 20% of staff and outsources lidar production

Sean O'Kane — Fri, 03 May 2024 21:34:43 +0000

Lidar company Luminar is slashing its workforce by 20% and will lean harder on its contract manufacturing partner as part of a restructuring that will shift the company to a more “asset-light” business model, as it aims to scale production. The cuts will affect around 140 employees, and are starting immediately. Luminar is also cutting […]

Sprinklr lays off more than 100 employees

Jagmeet Singh — Fri, 03 May 2024 18:17:17 +0000

The new job cuts come over a year after the company cut about 4% of its headcount in February last year.

Peloton to lay off 400 employees as CEO Barry McCarthy departs

Paul Sawers — Thu, 02 May 2024 11:27:42 +0000

Peloton, the exercise equipment maker, said it is laying off 15% of its workforce as part of cost-cutting measures.

Google lays off staff from Flutter, Dart and Python teams weeks before its developer conference

Sarah Perez — Wed, 01 May 2024 18:08:35 +0000

Google told TechCrunch that Flutter will have new updates to share at I/O this year.

A comprehensive archive of 2023 tech layoffs

Cody Corrall, Alyssa Stringer — Wed, 01 May 2024 12:00:43 +0000

A tech-wide reckoning that began in 2022 and ran throughout into 2023. Though 2024 has gotten off to a rough start, it has yet to reach the peak of the prior year’s substantial cutbacks. This post serves as a record of those layoffs, and the coverage of the reasons behind them, ranging from duplicative roles, […]