Funko, renowned for its popular vinyl collectibles inspired by pop culture, has initiated a cost-cutting plan involving various measures. The company has taken steps to reduce its workforce by 12%, alongside other strategic actions aimed at streamlining operations. One of the notable changes involves a reduction in product offerings due to a surplus of inventory … Read more
HackerOne, a well-known bug bounty and penetration testing platform, is facing the impact of the ongoing global economic slowdown, leading to the decision to lay off up to 12% of its workforce. The San Francisco-based startup, with over 450 employees worldwide, confirmed the news on Wednesday. The layoffs will affect staff in several countries, including … Read more
Planet, the satellite imagery company that went public in December 2021 through a special purpose acquisition company (SPAC), has decided to lay off 117 employees, constituting approximately 10% of its workforce. The move is aimed at focusing on driving revenue amid challenges posed by an ongoing downturn in the public markets. In a blog note, … Read more
Yellow, a once-dominant US trucking company, has ceased operations and laid off all 30,000 of its workers, marking a significant blow to the American shipping industry. The embattled firm intends to file for bankruptcy following unsuccessful attempts to reorganize and refinance its staggering debt, which amounts to over a billion dollars. The Teamsters union, representing … Read more
Kape Technologies, the cybersecurity firm behind well-known VPN services like ExpressVPN, has recently laid off approximately 180 employees, constituting about 12% of its workforce
Figure Technologies, the profitable lending business founded by Mike Cagney, recently underwent a staff reduction, cutting 20% of its workforce, according to a Bloomberg report.
Accenture is planning to cut approximately 890 jobs from its Irish operations as part of a global round of job reductions announced in March. This comes in addition to the 400 staff that were already let go earlier in the year. The 1,290 redundancies being sought this year amount to nearly 20% of Accenture’s Irish … Read more
Peoria-based company, Natural Fiber Welding (NFW), has announced a second round of staff reductions this year, as part of its ongoing restructuring efforts. The recent action, which occurred on Wednesday, affected approximately 10% of the workforce, mirroring a similar move made in April. An NFW spokesperson confirmed that the latest round of layoffs also impacted … Read more
Figure Technologies Inc., a financial technology company co-founded by Mike Cagney, the former CEO of Social Finance Inc. (SoFi), has laid off 90 employees, which accounts for about 20% of its workforce. The company is reportedly preparing for an initial public offering (IPO) for its lending business, referred to as “LendCo,” in early 2024. According … Read more
Sequoia has laid off seven employees from its operations team, which represents one-third of the team responsible for recruiting talent for startups in its portfolio. The layoffs come after the exit of veteran Jamie Bott, who led the company’s talent team. This move is seen as a broader restructuring effort by Sequoia, likely in response … Read more