Layoffs

Okta will lay off 300 employees as a result of customer identity execution challenges, the third-largest round of layoffs of any cybersecurity company during the current economic downturn.

Getaround, a peer-to-peer car-sharing company, is laying off 10% of its employees beginning Thursday. The layoffs are part of a restructure designed to put Getaround on the path to “sustainable profitability and long-term growth,” according to a statement from the company. According to LinkedIn, Getaround has 421 employees, so the layoffs should affect approximately 42 … Read more

Bright Health Group is laying off 68 more employees at its Bloomington headquarters as part of a larger layoff. The move comes after 99 layoffs were announced in November, as well as a significant reduction in the overall scope of its business. Bright describes the latest move in its letter to the Minnesota Department of … Read more

BDG, the digital media conglomerate that owns brands like Elite Daily and Bustle, announced on Wednesday that it will cut 8% of its workforce and close the recently relaunched news and gossip website Gawker. In an email to employees, chief executive Bryan Goldberg said the company is “facing a surprisingly difficult” first quarter of 2023 … Read more

FedEx CEO Raj Subramaniam announced Wednesday that the company is laying off more than 10% of its officers and directors in order to cut costs amid slowing consumer demand. FedEx stock closed more than 4% higher at the close of trading on Wednesday. The layoffs come as the shipping industry recovers from the Covid pandemic … Read more

PayPal on Tuesday announced plans to lay off 2,000 employees, or around 7% of its workforce.

Exterro, a Beaverton-based legal technology company, announced Monday that it has laid off less than 3% of its workforce since acquiring a Portland competitor, Zapproved, earlier this month. According to Exterro, the majority of the nearly two dozen layoffs are in the Portland area. “It is common for synergies to be discovered and roles to … Read more

CoinTracker, a crypto tax reporting and investment management platform, has announced the layoff of 20% of its workforce, or about 19 employees, according to The Block. The decision was made due to “crypto winter, an unstable economy with high inflation and rising interest rates, and additional headwinds with crypto tax regulations,” according to CoinTracker CEO … Read more

Prime Trust, a crypto services company, laid off one-third of its employees on Tuesday, according to two people familiar with the situation. The cuts primarily impacted Prime Trust’s communications and compliance departments, though it was not immediately clear how many people were affected. One observer described the move as a cost-cutting measure. Prime Trust provides … Read more

Impossible Foods is laying off 20% of its workforce, Bloomberg reported Monday.