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2022 US tech layoff rundown: 38 tech companies have laid off more than 20,200 employees: Netflix, Robinhood, Klarna, Paypal, Noom, Coinbase, Tesla

Updated 7-14-2022

After a decade of rapid growth, the tech industry is facing a significant slowdown. A recent report from Gartner predicts that worldwide IT spending will decline by 7.6 percent in 2020 and another 5.5 percent in 2021. Of course, the pandemic has been a major factor in the slowdown, as businesses have cut back on spending, and many consumers have shifted to cheaper alternatives. But the slowdown was already underway before the pandemic hit, and layoffs will likely continue even after the economy rebounds. Gartner estimates that global IT employment will decline by 2 percent in 2022, with the most significant job losses occurring in North America and Western Europe.

  1. Why are tech companies doing layoffs in 2022?
  2. Will there be more layoffs in 2022?
  3. List of companies that have laid off workers so far

Why are tech companies doing layoffs in 2022?

It’s no secret that the pandemic has been hard on the economy. As a result, many businesses have been forced to close their doors, and millions of Americans are out of work. The tech industry has been hit particularly hard as businesses have postponed or canceled projects, and consumers are expected to slow spending. As a result, many tech companies face financial difficulties and are forced to make cuts. One way they are doing this is by laying off employees. Startups have to lead the layoffs, with companies like Robinhood and Carvana cutting thousands of employees simultaneously.

Will there be more layoffs in 2022?

Yes, there will likely be more layoffs through 2022, investor sentiment has changed substantially since the end of 2021, and tech companies will face continued scrutiny from investors. This pullback will be hardest on smaller companies or those with smaller cash flows, significantly if the economy slows down or worsens.

List of US companies or notable tech startups that have laid-off more than 75 workers in 2022 so far:

1. Robinhood

9% of full-time employees, 340 jobs were cut 4-26-2022

2. Better.com (maybe the most notorious with mass live Zoom firing)

3 waves of layoffs amounting to 3,000 employees in the US and more than 20% of their company. At the end of last year, just before the holidays, they fired 900 employees in Germany.

3. Reef

laid off 750 employees or 5% of its staff to focus on profitability on 5-6-2022

4. Doma

laid off 310 workers on 5-10-2022

5. Carvana

cut 2,500 jobs on 5-10-2022

6. Glossier

let go of a third of its workforce or 80 employees

7. Netflix

150 US employees in May + 70 in a second-round who are in animation according to Tech Crunch. Netflix announced 6-23 an additional 300 layoffs.

8. Klarna (not US-based)

10% of the workforce, which is 700 people

9. Latch

2 sets of layoffs amounting to 28% of its workforce, 130 people were cut

10. Picsart

90 people or 8% of its staff and has yet to go public

11. Skillz

laid off 70 employees in their esports division, which was 10% of the team

12. Paypal

laid off 83 employees just this week

13. Vroom

laid off between 25% to 50% of its staff, about 270 employees

14. Avo

500 employees were laid off at the beginning of May

15. Noom

let go of 495 employees at the end of April

16. Bolt

Fintech startup laid off 250 people on 5-25-2022

17. Coinbase

is laying off 18% of its workforce announced today 6-14-2022, or about 5,000 workers

18. Tesla

is laying off 200 autopilot workers and is expected to layoff more.

19. Tonal

Tonal laid off 262 workers 7-13-2022

20. Fabric

Laid off 120 employees on 7-13-2022

21. ChowNow

Laid off 100 employees on 7-13-2022

22. Gopuff

Laid off 1,500 employees on 7-12-2022

23. Butler Hospitality

Laid off 1,000 employees on 7-8-2022

24. Argo AI

Laid off 150 employees on 7-7-2022

25. Next Insurance

Laid off 150 employees on 7-7-2022

26. Remote

Laid off 100 7-6-2022

27. Bizzabo

Laid off 120 7-75-2022

28. Verbit

Laid off 80 on 5-7-2022

29. Celsius

Laid off 150 7-3-2022

30. Enjoy

Laid off 400 on 6-30-2022

31. Unity

Laid off 200 on 6-29-2022

32. Niantic

Laid off 85 on 6-29-2022

33. AvantStay

Laid off 80 on 6-29-2022

34. Qumulo

Laid off 80 on 6-29-2022

35. StockX

Laid off 120 on 6-28-2022

36. AppLovin

Laid off 300 on 6-27-2022

37. UiPath

Laid off 210 on 6-27-2022

38. Cue

Laid off 170 6-27-2022

If you want to see a detailed list of layoffs, updated continuously since the beginning of COVID https://layoffs.fyi/ is a great resource. Roger Lee is the creator of this @roger_lee on Twitter and it has been invaluable to tech reporting.