Tech layoffs update: Job losses mount at Etsy, Zulily, Course Hero, and others in painful December

With only a few weeks to go in 2023, job losses from layoffs continue to mount, meaning the year is going to go out how it began. According to layoffs tracking site Layoffs.fyi, 1,157 tech companies have now laid off 257,778 workers over the course of the year. As for December, the most prominent companies that have laid off employees include:

Etsy

Etsy is the most recent tech company to announce layoffs. On December 13, CEO Josh Silverman informed employees that the company would be laying off 225 workers, or about 11% of its total workforce. Silverman cited “a very challenging macro and competitive environment” and thus the need for cost-cutting.

Spotify

On December 4, one of the biggest names in streaming announced a massive round of layoffs. Spotify said it will lay off an additional 1,500 personnel—about 17% of its total staff. CEO Daniel Ek cited slowing economic growth as the reason for the cuts. Sadly for Spotify employees, this was the third round of layoffs at the company this year.

Tidal

Spotify wasn’t the only music streamer to cut jobs this month. On December 6, Tidal announced it would cut about 40 people from its workforce, which Bloomberg said accounted for about 10% of the company’s total staff. Tidal’s layoffs came after Tidal owner Block (owned by Jack Dorsey) announced in November that the company planned to have a maximum of 12,000 employees by the end of 2024, down from its 13,000 in 2023.

Zulily

Online shopping site Zulily is reportedly going out of business, and with it, more than 800 jobs will be lost, according to Retail Dive. The Seattle-based reseller catered to young mothers, but it has seen its revenues decline in recent quarters.

Course Hero

The online learning platform laid off over 20 employees this month, according to a post from the company on LinkedIn. A reason for the layoffs was not given, but they follow cuts at the company in March that found 42 people laid off, which TechCrunch said at the time equaled 15% of its staff.

Twilio

Digital communications company Twilio announced its second round of layoffs this year. In early December, the company announced it would lay off about 300 employees, or 5% of its total workforce, according to CNBC. The December cuts follow a 17% reduction in Twilio’s workforce in February, which saw the company let go of about 1,500 employees.

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