-July 19, 2022Vimeo CEO Anjali Sud announced on LinkedIn the online video company is cutting 6% of its workforce to “come out of this economic downturn a stronger company.”
-July 19, 2022 Ohio-based automated health software startup Olive laid off 450 employees, nearly 35% of the company, as CEO Sean Lane admitted the company’s commitment to “act with urgency” led to a hiring spree that proved to be too much to handle, prompting him to “rethink this approach.”
-July 18, 2022Crypto exchange Gemini cut 68 employees—or 7% of its staff—less than two months after it let go of 10% of its workforce.
-July 14, 2022 OpenSea, the New-York based non-fungible token (NFT) company, announced in a tweet it laid off 20% of its staff over fears of “broad macroeconomic instability” with the possibility of “prolonged downturn.”
-July 13, 2022 Online ordering startup ChowNow laid off 100 people, Tech Crunch reported, as it reels back from a “large and ambitious” budget it couldn’t meet amid fears a stunted market could fuel a recession.
-July 13, 2022 Tonal, the at-home fitness company, reduced -35% of its workforce to adjust to dwindling consumer demand, letting go of 750 employees.
-July 12, 2022 Tesla let go 229 employees, primarily in its autopilot division, and shut down its San Mateo, California, office, just weeks after CEO Elon Musk sent an email to executives, saying he had a “super bad feeling” about the economy and planned to cut 10% of his workforce.
-July 12, 2022 Some 1,500 employees at the international delivery startup Gopuff were let go, (10% of its staff) and 76 of its U.S. warehouses were shut down, according to a letter to investors first reported by Bloomberg, as the company moves away from a growth-at-all-costs model.
-July 12, 2022 California-based mortgage lender loanDepot announced plans to lay off 2,000 workers by the end of the year, bringing its 2022 layoffs to 4,800 — more than half of the company’s 8,500 employees — amid a precipitous downturn in the housing market that’s “contracted sharply and abruptly,” CEO Frank Martell said in a statement.
-July 11, 2022 Electric automaker Rivian to lay off 5% of the company’s 14,000 employees in areas that grew “too quickly” during the pandemic and to halt hiring of non-factory workers, according to an internal email from CEO RJ Scaringe, Bloomberg reported.
-July 7, 2022 Real estate firm Re/Max announced plans to lay off 17% of its workforce by the end of the year, with a goal of bringing in $100 million in annual mortgage-related revenue by 2028.
-June 22, 2022 JPMorgan Chase — the nation’s largest bank — let go while trying to reassign more than 1,000 of its 274,948 employees, citing rising mortgage rates and increased inflation.
-June 15, 2022 Real estate companies Compass and Redfin both announced plans to cut 10% and 8% of their workforces, respectively, following a 3.4% drop in home sales from April to May, according to the National Association of Realtors, amid concerns the once red-hot housing market had cooled.
-June 14, 2022 Some 1,100 Coinbase employees learned they had been released after losing access to their work emails, marking an 18% reduction in the crypto company’s staff — a move that CEO Brian Armstrong called essential to “stay healthy during this economic downturn” — and a warning sign of a recession and a “crypto winter” after a 10-plus-year crypto boom.
-May 21, 2022 Used car seller Carvana CEO Ernie Garcia III sent an email to 2,500 employees — 12% of the company’s workforce — informing them they had lost their jobs, one week after freezing new hiring, as the company embraced for what looked like a looming recession in car sales, and reports of a “spendthrift” business style had come back to bite the company.
Submitted July 21, 2022 at 12:47AM by Vast_Cricket https://ift.tt/gqNTx4u
