loom Video Messaging Startup Loom Cuts 14% of Staff Amid Economic Uncertainty Loom lays off 34 employees across product and people operations as it aims for sustainable growth. The Andreessen Horowitz-backed unicorn currently serves 14 million users across 200,000 companies.
airbnb Airbnb Files Confidential IPO Paperwork After Pandemic Slump Airbnb officially submits its draft registration to the SEC for an initial public offering. The filing follows a devastating period for the company that included massive layoffs and slashed valuations due to the coronavirus pandemic.
magic leap Former Microsoft Executive Peggy Johnson Takes Helm of Struggling Magic Leap Magic Leap names former Microsoft business development chief Peggy Johnson as its new CEO following a brutal restructuring and massive funding round. The leadership change marks a strategic pivot toward enterprise customers as the company attempts to recover from near-bankruptcy.
kickstarter Kickstarter Union Secures Severance Protections Amid Pending Layoffs Kickstarter United negotiates an agreement that guarantees four months of severance and healthcare coverage for laid-off employees. The company currently offers voluntary buyouts to determine the final number of necessary job cuts.
compass Real Estate Startup Compass Lays Off 15 Employees Amid Projected Revenue Drop Compass confirms a new round of layoffs affecting 15 staff members as the company braces for a 50% revenue decline over the next six months. Leadership shares the difficult news internally via email as the real estate market continues to shift.
cisco Cisco Confirms 3,500 Job Cuts Amid Business Restructuring Cisco lays off approximately 3,500 employees as part of a major business restructuring effort. The networking giant shifts its focus toward software subscriptions and emerging technologies.
revolut Revolut Lays Off 60 Workers Amid Coronavirus Financial Strain Digital banking startup Revolut confirms the redundancy of 60 employees as the economic impact of the coronavirus pandemic forces operational changes.
uber Uber Cuts 3,000 More Jobs and Closes 45 Offices Amid Pandemic Uber lays off an additional 3,000 employees and shuts down 45 global offices as the company attempts to become a self-sustaining business. These cuts come just weeks after a previous round of 3,700 layoffs.
uber Uber Cuts 3,000 Jobs as Pandemic Crushes Ride-Hailing Demand Uber lays off about 3,000 employees and closes dozens of offices worldwide as the coronavirus pandemic severely reduces its core ride-hailing business. The company also considers selling off unprofitable divisions to conserve cash.
revolut Revolut Cuts 60 Jobs as Pandemic Pressures Challenge Profit Goals UK digital bank Revolut lays off 60 employees as COVID-19 forces cost-saving measures. The $5.5 billion company still aims to achieve profitability this year despite the economic downturn.
cruise GM's Cruise Trims 8% of Workforce to Focus on Engineering Cruise, the self-driving unit of General Motors, reduces about 8% of its staff to rebalance operations and prioritize engineering talent. The layoffs primarily affect non-engineering departments like recruiting and human resources.
gm GM Cruise Trims 8% of Workforce Amid Pandemic Pressure on Autonomous Industry General Motors' self-driving subsidiary Cruise lays off roughly 150 employees as the pandemic intensifies financial struggles across the autonomous vehicle sector. The cuts target non-engineering roles while the company shifts its focus toward core technical development.
uber Uber Leads $170 Million Lime Investment Amid Massive Pandemic Layoffs Uber transfers its Jump bike and scooter division to Lime as part of a major $170 million funding round. The deal significantly drops Lime's valuation while Uber continues to slash its workforce due to the pandemic.
uber Uber Posts Massive Q1 Loss as Food Delivery Surges Amid Pandemic Uber reports a $2.9 billion first-quarter loss driven by impairment charges, while its Eats delivery segment sees a 50% jump in gross bookings. Despite laying off thousands of employees, the company remains optimistic as ride volumes show signs of recovery.
uber Uber Cuts 14% of Staff Amid COVID-19 Ridesharing Collapse Uber lays off 3,700 employees and closes dozens of driver support hubs as the pandemic causes ride volumes to plummet. CEO Dara Khosrowshahi also waives his base salary for the remainder of the year.