After a banner yr for tech, layoffs are right here. In truth, as of late July, greater than 30,000 employees within the US tech sector have been laid off in mass job cuts up to now in 2022, in accordance with a Crunchbase Information tally.
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Tech corporations as large as Netflix have slashed jobs this yr, with some citing the consequences of the COVID-19 pandemic and others pointing to overhiring in periods of fast progress. Robinhood, Glossier and Higher are only a few of the tech corporations which have notably trimmed their headcount in 2022.
To maintain tabs, we have compiled a listing of US-based tech corporations which have laid off workers up to now this yr.
New additions previously week embody Flyhomes, Lyft and Vimeo.
Most not too long ago up to date: July 21, 2022
The general public markets have been hit exhausting in 2022, and that is trickled all the way down to the non-public markets. Inflation considerations, rising rates of interest and geopolitical points have all contributed to a curler coaster inventory market.
Startups—particularly those who benefited from a pandemic growth that is beginning to cool—are feeling the strain too. Valuations, notably on the late stage, have began to dip, and startups say it is far more troublesome to boost new funding on this surroundings.
We have included each startups and publicly traded corporations which can be based mostly within the US We have additionally included corporations based mostly elsewhere which have a large staff in the US, equivalent to Klarna, even when it is unclear how a lot of the US workforce has been affected by layoffs.
We sourced the layoffs from media stories, social media posts and layoffs.fyia crowdsourced database of tech layoffs.
Are we lacking one thing?
Our hope is that this database can be as complete as doable, so if we have missed any corporations or if your organization goes by way of layoffs, please tell us by filling out this manner.
This layoff tracker can be up to date at the very least weekly, if no more continuously.
Illustration: Dom Guzman
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