Photo by Carles Rabada on Unsplash
The tech industry has enjoyed seemingly unstoppable growth over the past five years, but in 2022 it finally hit an immovable object: a slowing worldwide economy.
Tech companies big and small have eliminated tens of thousands of jobs this year as executives cite inflation, rising interest rates and lower sales in digital advertising as all putting pressure on their financial outlooks.
The breadth of the layoffs has been breathtaking, affecting every part of the tech sector from farming robots and cryptocurrency to social media and semi-autonomous vehicles.
The tech industry has been hit harder than other sectors during this economic slowdown. In a count of layoffs at companies that cut more than 100 people this year, NBC News estimated about 89,000 people have lost their jobs.
This count doesn’t include jobs lost at smaller tech firms, though, which seems to have pushed the number of tech company layoffs to this year to more than 137,000, according to Layoffs.fyi, a project of San Francisco entrepreneur Roger Lee.
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 head count 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 head count 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 cu t its head count 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 head ount 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.
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: Undiscolosed
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 head count 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: 1,000
The online lender went through multiple rounds of layoffs this year, including one in September that brought its head count down to about 6,000 from 7,000 at the start of 2022, TechCrunch reported, Sept. 22, citing a company spokesperson.
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.
Read the full report here