59,320 employees affected across 23 reported layoff events in 2022.
59,320
Total Affected
23
Events
6
Industries
Meta · Nov 9 · 11,000 affected
Meta Lays Off 11,000 Employees -- 13% of Workforce
Meta CEO Mark Zuckerberg announced 11,000 job cuts, calling it "the most difficult changes we've made in Meta's history," as the company faced declining ad revenue, a cratering stock price, and massive metaverse spending.
Twitter (X) · Nov 4 · 3,700 affected
Twitter Cuts Roughly 3,700 Employees After Musk Acquisition
New owner Elon Musk slashed approximately half of Twitter's 7,500-person workforce within days of completing his $44 billion acquisition, citing the need to cut costs at a company losing $4 million per day.
Stripe · Nov 3 · 1,000 affected
Stripe Cuts 1,000 Employees as E-commerce Boom Fades
Stripe CEO Patrick Collison announced the company would reduce headcount by approximately 14%, cutting around 1,000 roles, as the payments giant confronted slowing e-commerce growth and a sharp private-market valuation correction.
Lyft · Nov 3 · 700 affected
Lyft Cuts 700 Jobs Amid Ride-Hailing Demand Uncertainty
Lyft announced layoffs affecting approximately 13% of its workforce as the ride-hailing company struggled with rising costs, slowing rider growth, and intensifying competition from Uber.
Snap · Aug 31 · 1,200 affected
Snap Lays Off 1,200 Employees -- 20% of Staff
Snap CEO Evan Spiegel announced the elimination of approximately 1,200 positions as the Snapchat parent company faced a dramatic slowdown in advertising revenue and an existential competitive threat from TikTok.
Robinhood · Aug 2 · 780 affected
Robinhood Cuts 780 Employees -- 23% of Workforce
Robinhood CEO Vlad Tenev announced the elimination of 23% of full-time employees, the company's second major round of layoffs in 2022, as retail trading activity collapsed from meme-stock era highs.
| Date | Company | Industry | Affected | Summary |
|---|---|---|---|---|
| Nov 9 | Meta | Technology | 11,000 | Meta laid off 11,000 employees — 13% of staff — in the largest cut in the company's history. |
| Nov 16 | Amazon | Technology | 10,000 | Amazon began laying off 10,000 corporate employees, the most in the company's history at the time. |
| Nov 22 | HP | Technology | 6,000 | HP announced plans to eliminate up to 6,000 jobs over three years as PC demand weakened. |
| Nov 16 | Cisco | Technology | 4,100 | Cisco cut about 4,100 jobs as part of a restructuring plan to focus on higher-growth areas. |
| Dec 6 | Goldman Sachs | Finance | 4,000 | Goldman Sachs began cutting up to 4,000 employees amid declining dealmaking revenue. |
| Nov 4 | Technology | 3,700 | Elon Musk fired roughly half of Twitter's workforce within days of completing his $44B acquisition. | |
| Jun 3 | Tesla | Technology | 3,500 | Tesla cut roughly 3,500 salaried employees as Elon Musk warned of a tough economy ahead. |
| Mar 8 | Better.com | Real Estate | 3,000 | Better.com cut a third of its staff in its second mass layoff as mortgage origination volumes collapsed amid rising rates. |
| May 10 | Carvana | E-commerce | 2,500 | Carvana laid off 12% of its workforce as used car demand cratered and the company's stock plunged over 90%. |
| Aug 31 | Snap | Technology | 1,300 | Snap cut 20% of its workforce and shelved several projects amid a severe advertising downturn. |
| Nov 30 | DoorDash | Technology | 1,250 | DoorDash cut 1,250 jobs after acknowledging it hired too aggressively during the pandemic delivery boom. |
| Nov 3 | Stripe | Finance | 1,120 | Stripe cut 14% of employees as co-founders admitted they had grown headcount too fast. |
| Jun 14 | Coinbase | Crypto | 1,100 | Coinbase laid off 18% of its workforce as crypto markets crashed and trading volumes collapsed. |
| Nov 30 | Kraken | Crypto | 1,100 | Crypto exchange Kraken slashed 30% of its employees in the aftermath of FTX's collapse and the deepening crypto winter. |
| Jul 26 | Shopify | E-commerce | 1,000 | Shopify laid off 10% of staff after CEO Tobi Lutke admitted the company over-bet on pandemic e-commerce growth. |
| Nov 9 | Redfin | Real Estate | 860 | Redfin laid off 13% of employees and shut down its iBuying RedfinNow business as home sales plummeted. |
| Aug 2 | Robinhood | Finance | 780 | Robinhood slashed 23% of its workforce in its second round of cuts as retail trading activity dried up. |
| Oct 13 | Compass | Real Estate | 750 | Real estate brokerage Compass cut 10% of its staff as rising mortgage rates crushed the housing market. |
| Nov 2 | Opendoor | Real Estate | 550 | Opendoor slashed 18% of its workforce as the iBuyer model buckled under a rapidly cooling housing market. |
| Oct 6 | Peloton | Technology | 500 | Peloton cut roughly 12% of its remaining staff in its fourth round of layoffs since the pandemic boom faded. |
| Aug 9 | Groupon | E-commerce | 500 | Groupon slashed 15% of its employees as the daily deals company struggled to stay relevant in the post-pandemic economy. |
| Jun 23 | Netflix | Media | 450 | Netflix cut around 450 jobs after losing subscribers for the first time in a decade. |
| Dec 6 | Plaid | Finance | 260 | Fintech startup Plaid cut 20% of its workforce as VC-backed financial services companies retrenched. |