Editor's note: This post will be updated regularly with new information. Last updated on July 19, 2022.
In the depths of winter, startup land remained red-hot. Venture capitalists shoveled $71 billion into startups in the first quarter of 2022, off just slightly from last year’s highs, per PitchBook data. Stock markets climbed ever-higher, feeding the coffers of publicly traded tech juggernauts. Employers scrambled to fill open positions, as workers quit en masse and demanded higher pay and better conditions.
But by April, it all started crashing down as soaring prices and interest rates rocked the economy. The shift to austerity began with public tech companies: Netflix’s market capitalization cratered by $50 billion after it reported diminishing subscriber counts for the first time in a decade, and days later, the streamer eliminated dozens of jobs. Amazon, Alphabet and Tesla each saw their valuations plummet by at least 20%. Startup leaders began bracing themselves for turbulence ahead, once again weighing layoffs as a means of controlling burn rates and attracting new capital. The greatest risks might lie at startups that grew precipitously during the pandemic to meet unexpected demand booms.
The Org’s team of journalists is tracking the latest layoffs at tech companies large and small. The list is in reverse chronological order, with newer announcements at the top, and we’ll be updating it regularly: