Worldwide: COVID-19 Spurring Layoffs Among Tech Startups

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Tech startups are facing vastly different realities during the COVID-19 pandemic depending on the industries that they target. Consider the difference in the adoption rate for delivery apps and platforms for remote work compared to those targeting the transportation and travel industries, which have suffered seriously due to lockdowns globally. But even those startups in relatively isolated industries with stable business models may be facing financial constraints or need to radically and quickly change their long-term development plans to fit the new normal, meaning here too startups may be reducing staff.

According to a compilation of public reports collected by Layoffs.fyi, during the pandemic period, 524 startups have cut 69,514 employees. Around two-thirds of the layoffs were in the United States, where total unemployment in the information sector in June was 332,000.

  • Airbnb has laid off 1,900 employees, or 25 percent of its staff. The company is also hitting pause on some initiatives like Transportation and Airbnb Studios. US employees will reportedly receive severance packages.
  • Uber has laid off 7,525 employees, largely concentrated in the company’s customer support and recruiting teams. Uber said it will create a public alumni talent directory to support departing employees.
  • Samsara laid off 300 employees, almost 18 percent of staff. Industrial companies use Samsara's internet-connected sensors to optimize their operations. Samsara has also slashed executive salaries by 30 percent for the rest of the year, cut non-essential spending, and implemented a hiring freeze for six months.

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