Here are some of the key points from the article:
Layoffs in Tech Industry
- Many tech companies have announced layoffs in recent weeks, including:
- Pitch: laid off two-thirds of its employees
- BenchSci: cut 17% of its workforce
- Flexe: eliminated 38% of its staff
- NuScale: laying off 28% of its workers
- Trigo: reportedly cutting 15% of its workforce
- Others, such as Orca Security and Frontdesk, have also laid off employees.
Reasons for Layoffs
- Economic uncertainty and shifts in the market are cited as reasons for the layoffs.
- Some companies, like Pitch and Flexe, are looking to pursue new paths or refocus their efforts.
Notable Layoffs
- InVision is shutting down at the end of 2024 after a 12-year run.
- VideoAmp is laying off nearly 20% of its workforce as it tries to maintain its battle with Nielsen over media measurement.
- Orca Security is cutting roughly 15% of its staff, totaling 60 employees.
Tech Layoffs in Review
- The article notes that the tech industry has seen a significant number of layoffs in recent years, including:
- 2023: saw some notable layoff announcements from companies like Unity (25%), Pitch (two-thirds), and Flexe (38%).
- Previous years: also had notable layoff announcements from companies like WeWork, Uber, and Lyft.
Industry Reaction
- The article notes that the tech industry is becoming increasingly competitive, leading to a higher number of layoffs.
- Some experts predict that the trend may continue in 2024.
