Business Insider

Venture-backed startups are laying off thousands of tech workers as the coronavirus strains finances. Here’s a list of all of the startups that are cutting headcount.

Republished By Plato

Date:

May 5, 2020

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Venture-backed startups have begun laying off employees, as the coronavirus and the subsequent economic shutdown has wreaked havoc on companies large and small.
Business Insider is keeping a list of running list of startups that are slashing headcount.
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Lyft is laying off nearly 1,000 employees — 17% of its workforce — as the coronavirus sends the ride-hailing industry into a nosedive

Envoy, the Andreessen Horowitz-backed startup that sold software to Airbnb, Asana and Slack, just cut 30% of its workforce as a work-from-home era disrupted its pitch to revolutionize the workplace

Leaked memo: Troubled SoftBank-backed robotics startup Zume just conducted a 2nd round of sweeping layoffs after funding fell through

Austin unicorn startup RigUp went from hiring ‘at a rapid pace’ to cutting 25% of staff in a matter of weeks. Now a data breach is adding to its woes.

$967 million startup DataStax laid off 15+ employees last week — its third round of job cuts since its new CEO joined in October

$1.5 billion ZipRecruiter just laid off hundreds only days after the CEO said the economy was headed for a steep increase in hiring after the end of the coronavirus

The CEO of Voi, scooter rival to $2.5 billion Bird, goes public on why it furloughed and laid off staff to cope with COVID-19

Electric scooter startup Bird has laid off 30% of the company in a scramble to preserve a ‘cash runway’ to last until the end of 2021

TripActions, the $4 billion Andreessen Horowitz-backed corporate travel startup, just laid off 296 employees as the travel industry grinds to a halt

Andreessen Horowitz-backed Wonderschool just laid off 75% of staff on a Zoom call, telling employees the coronavirus could dry up any more funding for 2 years

O’Reilly Media, known for its influential open source conferences and books about coding, has laid off 75 people and shuttered its events business

Pay-by-the-minute fitness app Popin has shut down, according to an email sent out to its users

Buzzy luggage startup Away has furloughed half of its staff and laid off 60 employees as the coronavirus continues to crush the travel industry

ThirdLove, the buzzy lingerie upstart that challenged Victoria’s Secret’s dominance, just laid off nearly 30% of its workforce as the coronavirus crushes DTC companies

Iris Nova, the buzzy direct-to-consumer startup backed by Coca-Cola, has laid off half its staff as the coronavirus pandemic hits its retail business

Startups like ClassPass and The Wing have cut significant portions of their workforce

A leaked memo reveals that the Kevin Durant-backed sports media startup Overtime just laid off 20% of its staff, and won’t give affected employees healthcare or severance unless they sign a confidentiality agreement

Airbnb is cutting 25% of staff — 1,900 jobs — after its business has been slammed by the coronavirus crisis

SoftBank-backed iBuyer Opendoor just slashed 35% of staff after the coronavirus forced the startup to halt its home-flipping operations

Flex-space unicorn Knotel just laid off 30% of workers and furloughed another 20% as the coronavirus cripples a once buzzy industry

SoftBank-backed real estate brokerage Compass just slashed 15% of staff and is pausing marketing as coronavirus slams the housing market

Days after laying off 20% of its workforce, Brookfield-backed Convene furloughs more than half of remaining employees due to coronavirus closures

Airbnb-backed Zeus Living just laid off 30% percent of staff as the coronavirus upends travel and hospitality startups

Source: https://www.businessinsider.com/list-vc-backed-layoffs-coronavirus-recession-tech-retail-media-realestate-2020-4

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