Connect with us

Economy

Visualizing Layoffs at Prominent Startups Triggered by COVID-19

Published

on

Can I share this graphic?
Yes. Visualizations are free to share and post in their original form across the web—even for publishers. Please link back to this page and attribute Visual Capitalist.
When do I need a license?
Licenses are required for some commercial uses, translations, or layout modifications. You can even whitelabel our visualizations. Explore your options.
Interested in this piece?
Click here to license this visualization.

Layoffs at Prominent Startups Triggered by COVID-19

As the pandemic reverberates through almost every industry imaginable, tech startups are also feeling the pain.

Since mid-March, countless startups and unicorns have undergone layoffs.

Today’s infographic pulls data from Layoffs.fyi, and navigates the cascading layoffs across 30 of the most recognizable startups in America. Each of the companies have slashed over 250 employees between March 11 and May 26, 2020—capturing a snapshot of the continuing fallout of COVID-19.

Silicon Valley Takes a Hit

Unsurprisingly, many of the hardest hit startups are related to the travel and mobility industry.

Closing 45 offices, Uber has laid off 6,700 employees since mid-March. Uber CEO Dara Khosrowshahi, who was granted a $45M earnings package in 2018, announced he will also waive his $1M base salary for the remainder of the year.

Company# Layoffs% of EmployeesIndustry
Uber6,70025%Transportation
Lyft98217%Transportation
Bird40630%Transportation
Airbnb1,90025%Travel
TripAdvisor90025%Travel
Sonder40033%Travel
TripActions30025%Travel
Magic Leap1,00050%Consumer
Yelp1,00017%Consumer
Juul90030%Consumer
Groupon2,80044%Retail
Deliv669100%Retail
B8ta25050%Retail
Toast1,30050%Food
ezCater40044%Food
Flywheel Sports78498%Fitness
MindBody70035%Fitness
Opendoor60035%Real Estate
WeWork550N/AReal Estate
Compass37515%Real Estate
ZipRecruiter40039%Recruiting
Glassdoor30030%Recruiting
Cvent40010%Marketing
Sojern30050%Marketing
KeepTruckin34918%Logistics
Samsara30018%Logistics
Eventbrite50045%Entertainment
Lending Club46030%Finance
Sage Therapeutics34053%Healthcare
Automation Anywhere26010%Other

*Layoffs reported between March 11-May 26, 2020

Meanwhile, as room bookings dropped by over 40% across several countries, Airbnb laid off a quarter of its workforce. The tech darling is anticipating a $2.4B revenue shortfall in 2020.

Like many other big names—including Lyft, Uber, and WeWork—Airbnb is struggling to achieve profitability. In the first nine months of 2019, it lost $322M at the height of the market cycle.

Until 2021, gig-economy revenues are projected to drop by at least 30%.

International Startups Struggling

Startups in the U.S. aren’t the only ones scrambling to conserve cash and cut costs.

Brazil-based unicorn Stone has let go of 20% of its workforce. The rapidly growing digital payments company includes Warren Buffett as a major stakeholder, holding an 8% share as of March 2020.

At the same time, India-based ride-hailing Ola has witnessed revenue declines of 95% since mid-March. It laid off 1,400 employees as bookings drastically declined.

Company# Layoffs% of EmployeesLocation
Swiggy1,10014%India
Agoda1,50025%Singapore
Ola1,40035%India
Stone1,30020%Brazil
CureFit80016%India
Uber India60023%India
Careem53631%U.A.E.
Zomato52013%India
Lendingkart50050%India
Gympass46733%Brazil
OneWeb45185%United Kingdom
Livspace45015%India
Oriente40020%Hong Kong
Renmoney39150%Nigeria
Deliveroo36715%United Kingdom

Similarly, Uber India has rivaled Ola in dominance across India’s $10B ride-hailing market since launching three years after Ola, in 2013. Now, almost 25% of the Uber India workforce have been laid off.

Of course, these reports do not fully take into account the growing impact of COVID-19, but help paint a picture as the cracks emerge.

Pandemic-Proof?

While the job market remains murky, what startups are looking to hire?

Coursera, an online education startup, listed 60 openings in May. By the end of the year, the company plans to hire 250 additional staff. Within the peak of widespread global lockdowns, the platform attracted 10M new users.

Meanwhile, Canva, an Australia-based graphic design unicorn, is seeking to fill 100 positions worldwide. In partnership with Google for Education, Canva offers project-based learning tools designed for classrooms, in addition to free graphic design resources.

At the same time, tech heavyweights Facebook and Amazon reported openings. Booming startups such as Plaid, Zoom, and Pinterest are also listing new positions as shifting consumer demand continues to shape unpredictable and historic hiring markets.

Click for Comments

Copper

Brass Rods: The Secure Choice

This graphic shows why brass rods are the secure choice for precision-machined and forged parts.

Published

on

Teaser of bar chart and pie chart highlighting three ways brass rods empower manufacturers in the competitive market for precision-machined and forged products.

Published

on

The following content is sponsored by Copper Development Association

Brass Rods: The Secure Choice

The unique combination of machinability and recyclability makes brass rods the secure choice for manufacturers seeking future-proof raw material solutions.

This infographic, from the Copper Development Association, shows three ways brass rods give manufacturers greater control and a license to grow in the competitive market for precision-machined and forged products.

Future-Proof Investments in New Machine Tools

A material’s machinability directly impacts machine throughput, which typically has the largest impact on machine shop profitability.

The high-speed machining capabilities of brass rods maximize machine tool performance, allowing manufacturers to run the material faster and longer without sacrificing tool life, chip formation, or surface quality.

The high machining efficiency of brass leads to reduced per-part costs, quicker return on investment (ROI) for new machine tools, and expanded production capacity for new projects.

Supply Security Through Closed Loop Recycling

Brass, like its parent element copper, can be infinitely recycled. 

In 2022, brass- and wire-rod mills accounted for the majority of the 830,000 tonnes of copper recycled from scrap in the United States.

Given that scrap ratios for machined parts typically range from 60-70% by weight, producing mills benefit from a secure and steady supply of clean scrap returned directly from customers, which is recycled to create new brass rods.

The high residual value of brass scrap creates a strong recycling incentive. Scrap buy back programs give manufacturers greater control over raw material net costs as scrap value is often factored into supplier purchase agreements.

Next Generation Alloys for a Lead-Free Future

Increasingly stringent global regulations continue to pressure manufacturers to minimize the use of materials containing trace amounts of lead and other harmful impurities.

The latest generation of brass-rod alloys is engineered to meet the most demanding criteria for lead leaching in drinking water and other sensitive applications.

Seven brass-rod alloys passed rigorous testing to become the only ‘Acceptable Materials’ against lower lead leaching criteria recently adopted in the national U.S. drinking water quality standard, NSF 61.

Visual Capitalist Logo

Learn more about the advantages of brass rods solutions.

Click for Comments

You may also like

Voronoi, the app by Visual Capitalist. Where data tells the story. Download on App Store or Google Play

Subscribe

Continue Reading
HIVE Digital Technologies

Subscribe

Popular