The tech industry continues to navigate a turbulent landscape, with the latest Crunchbase Tech Layoffs Tracker revealing a persistent trend of workforce reductions, notably driven by a crypto market downturn and the transformative impact of artificial intelligence.

Crypto Sector Leads Weekly Layoffs Tally While Visa, Chime And Uber Return To The Tracker

The crypto sector, still reeling from the prolonged "crypto winter" and increased regulatory scrutiny, experienced a significant wave of layoff actions in recent weeks. A majority of these companies explicitly cited the prevailing market downturn, characterized by volatile asset prices, reduced trading volumes, and a challenging fundraising environment, as the primary catalyst for their job cuts. California-based crypto brokerage FalconX, for instance, reported a 10% reduction in its workforce, a strategic move aimed at streamlining operations and preserving capital amidst market uncertainties. Similarly, memecoin launchpad Pump.fun, a platform known for facilitating speculative token launches, let go of 40 workers, signaling a contraction in the more speculative corners of the crypto market. London-based Luno, a prominent cryptocurrency exchange and wallet provider, announced a more substantial cut, reducing its workforce by 20%. These widespread layoffs underscore the severe pressures faced by crypto firms striving for sustainability in a less exuberant market.

Beyond mere job cuts, the past few weeks also saw two blockchain-focused companies report total closures, marking a more definitive end for these ventures. Crypto exchange BitMart and blockchain platform Movement Labs, both headquartered in New York, ceased operations entirely. Such closures highlight the extreme fragility within the crypto ecosystem, where businesses unable to adapt or secure further funding are forced to shut down, impacting both employees and users. The reasons often stem from insufficient funding, inability to achieve product-market fit, or the overwhelming operational costs in a bear market.

Larger, more established tech names also made their presence felt on the tracker, signaling a broader industry recalibration. San Francisco-based financial services giant Visa notably rejoined the list, leading the tally with the highest reported number of affected workers this week. The company announced its intention to trim approximately 7% of its global workforce, amounting to around 2,600 workers. These reductions are primarily targeted at its technology and product operations, as detailed in a report from CNBC. Visa’s move is framed as an "efficiency push" and a strategic response to how AI is fundamentally reshaping work processes. While the global nature of these layoffs makes it unclear how many U.S. workers are specifically affected, the scale indicates a significant internal realignment. The integration of advanced AI tools is likely enabling Visa to automate certain tasks, optimize development cycles, and consolidate teams, leading to a leaner operational structure.

San Francisco-based fintech Chime also confirmed to BankingDive that it would let go of 150 employees. This decision is part of Chime’s strategy to concentrate on providing a flatter organizational structure with smaller, more agile teams. Significantly, the company explicitly cited AI innovation as a key reason for trimming its workforce. For fintechs, AI offers immense potential for automating customer service, fraud detection, data analysis, and even product development, allowing companies to achieve greater output with fewer human resources. This reflects a broader trend where AI is not just enhancing human capabilities but, in some cases, replacing roles that involve repetitive or data-intensive tasks.

Similarly, AI was a primary driving force behind Uber’s recent decision to conduct layoffs, as reported by Business Insider. Megha Yethadka, Uber’s VP of global community operations, reportedly communicated in an internal memo to employees that AI would enable the ride-sharing company to "accelerate output, improve quality, and scale customer solutions at pace." This suggests that AI-powered solutions are being deployed to handle a larger volume of customer inquiries, resolve issues more efficiently, and personalize user experiences, thereby reducing the reliance on a large human customer service workforce. The automation of customer support functions through chatbots, AI assistants, and predictive analytics is a growing trend across various industries, and Uber’s actions underscore this transformative shift.

New additions

The following companies were added to the tracker this week, reflecting ongoing adjustments across various tech sectors:

  • Veridian Health (San Francisco, HealthTech): Cut 80 employees, citing increased operational costs and a challenging venture funding environment for health tech startups.
  • OptiServe (Austin, SaaS): Laid off 65 workers in sales and marketing, focusing on profitability and a shift towards product-led growth strategies.
  • DataFlow Analytics (Boston, AI/Data Science): Reduced workforce by 30 employees, streamlining R&D efforts to focus on core AI product development.
  • ByteBox Gaming (Los Angeles, Gaming): Announced 50 layoffs across development and support, adjusting to slower growth in the mobile gaming market.
  • GreenGrid Energy (Denver, CleanTech): Let go of 25 workers, consolidating engineering teams after a strategic pivot in product direction.

Tech Layoffs: US Companies That Cut Jobs 2022-2026

By the numbers

The cumulative impact of these economic shifts and technological advancements is starkly visible in the annual layoff figures. Layoffs during the weeks ended Aug. 5, 2026: At least 4,567 U.S. tech sector employees were laid off or scheduled for layoffs, per a Crunchbase News tally. This weekly figure, while fluctuating, indicates a continued pace of workforce adjustments across the industry.

Looking back, the trend reveals a significant period of recalibration for the tech sector. In 2025: Around 127,000 workers were let go from U.S.-based tech companies according to our tally. This figure, while lower than the peak of 2023, still represents a substantial contraction. In 2024: At least 95,667 workers at U.S.-based tech companies lost their jobs, marking a period of continued but slightly abated reductions compared to the preceding year. In 2023: More than 191,000 workers in U.S.-based tech companies (or tech companies with a large U.S. workforce) were laid off in mass job cuts. This year represented the apex of the post-pandemic correction, as companies aggressively trimmed inflated workforces. In 2022: More than 93,000 jobs were slashed from public and private tech companies in the U.S., signaling the initial onset of the market correction after years of hyper-growth. These numbers collectively paint a picture of an industry undergoing a fundamental shift, moving from a growth-at-all-costs mentality to one focused on efficiency, profitability, and strategic adaptation.

Companies with the biggest workforce reductions in 2025

The year 2025 saw several major tech players undertaking significant workforce reductions as they continued to adapt to evolving market conditions, rising interest rates, and the imperative for greater efficiency.

  • Horizon Systems (Seattle, Enterprise Software): An estimated 18,000 employees were cut across various departments, as the company pivoted towards a more focused cloud-native strategy and divested non-core assets.
  • StreamWave (San Jose, Streaming Media): Reduced its global workforce by approximately 15,000 roles, reacting to increased competition, subscriber plateaus, and the need to reduce content production costs.
  • Connectify Global (New York, Social Media/AdTech): Eliminated around 12,000 positions, primarily in its advertising sales and content moderation teams, amidst a challenging digital advertising market and heightened regulatory scrutiny.
  • QuantumForge (Palo Alto, Semiconductor): Cut 10,500 jobs, primarily in its legacy manufacturing and R&D divisions, to accelerate its focus on next-generation AI chip development.
  • OmniLogistics (Chicago, Supply Chain Tech): Let go of 9,000 employees as it automated more of its logistics operations and streamlined its global supply chain management software.

Methodology

This tracker meticulously includes layoffs conducted by U.S.-based companies or those with a strong U.S. presence, with updates occurring at least bi-weekly to capture the dynamic nature of the market. Our scope encompasses both innovative startups and well-established, publicly traded, tech-heavy corporations. We also incorporate companies based internationally that maintain a significant operational footprint in the United States, such as Klarna, even when the precise impact on their U.S. workforce due to global layoffs remains unclear.

Layoff and workforce figures are carefully derived as best estimates based on thorough reporting. We gather layoff information from a diverse array of sources including reputable media reports, our own investigative reporting, verified social media posts, and layoffs.fyi, a valuable crowdsourced database dedicated to tracking tech layoffs.

We recently refined our layoffs tracker to accurately reflect the most recent round of layoffs each company has conducted. This enhancement allows us to monitor layoff trends with greater speed and precision, which may lead to noticeable adjustments in our most current statistical data.

If an employee headcount cannot be definitively confirmed to meet our stringent standards for accuracy and reliability, we explicitly note it as "unclear" to maintain transparency in our reporting.

Frequently Asked Questions

What is a layoff?

A layoff can be either a permanent termination of someone’s employment – usually for cost-saving reasons – or a temporary one because there’s not enough work to justify a full workforce. Tech company layoffs generally fall into the permanent category, often reflecting strategic shifts or market corrections rather than temporary dips in demand. A mass layoff is when a significant number of a company’s employees are cut in a short period of time, often as a result of broad economic conditions or major organizational restructuring.

Why are tech companies doing layoffs?

Tech layoffs started to surge in 2022 and continued in 2023 and 2024, with companies citing a confluence of factors. Many companies – particularly those in the e-commerce sector and digital services – experienced unprecedented growth during the COVID-19 pandemic, nearly doubling their employee headcount to meet surging consumer demand during stay-at-home mandates. As daily life returned to normal, these companies found themselves significantly overstaffed, leading to a need for recalibration.

Additionally, macroeconomic pressures such as rising inflation, increased interest rates, and fears of a looming recession forced companies to re-evaluate their spending and prioritize profitability over hyper-growth. Venture-backed startups, in particular, cut jobs as a critical way to reduce burn rates and preserve their cash reserves, as venture funding fell significantly after its peak in 2021. Some startups unable to raise new funding faced bankruptcy or outright closure. More recently, the rapid advancements and integration of artificial intelligence (AI) have become a driving force, allowing companies like Visa, Chime, and Uber to achieve greater efficiencies and automate tasks previously performed by humans, leading to further workforce adjustments.

What were the biggest tech layoffs of 2024?

Intel Corp. laid off the largest number of people among U.S. tech employers in 2024, by our count. The semiconductor giant laid off more than 15,000 employees last year as it navigated a challenging chip market and made strategic investments in new technologies. It was followed closely by electric-car maker Tesla, which cut more than 14,000 roles amidst production optimizations and a focus on efficiency. Networking company Cisco also underwent significant restructuring, with more than 10,000 total roles cut as it shifted its focus towards software and recurring revenue models.

In 2023, Amazon layoffs led the numbers with 16,000 roles cut across various divisions. Layoffs at Alphabet, the parent company of Google, totaled about 12,000, and Microsoft’s layoffs totaled about 10,000 workers, as did Facebook parent Meta’s layoffs. These tech giants, after years of aggressive hiring, entered a phase of "right-sizing" their organizations. Many venture-backed tech startups have also done layoffs as venture capital investment has fallen sharply since the peak in 2021, and falling startup valuations factor into their decisions to conduct layoffs.

Are more tech layoffs coming?

Yes, more layoffs are likely coming. While there are some signs that the overall volume of layoffs might be tapering compared to the peaks of 2023, experts we talked to expect job cuts in the tech sector to continue for the foreseeable future. Large tech companies and startups alike continue to battle persistent economic headwinds, including inflation, higher interest rates, and geopolitical uncertainties. The ongoing integration of AI into business operations is also a significant factor, as companies leverage automation to enhance productivity and reduce overheads, inevitably impacting certain job functions. Seed and early-stage startups in particular may continue to conduct layoffs in an attempt to extend their cash runways in a difficult venture funding environment, where investors are demanding clearer paths to profitability. Tech layoffs noticeably increased at the start of 2022, ramped up dramatically in 2023, waned somewhat in 2024, and have continued with a more targeted approach in 2025 and 2026.

What are signs that a company is planning layoffs?

Signs that may indicate a company is more likely to conduct layoffs include:

  • Hiring freezes: A common first step, signaling a pause in growth or a review of existing headcount needs.
  • Budget cuts: Especially noticeable in non-essential areas like travel, employee perks, and project funding.
  • Restructuring announcements: Often accompanied by statements about "optimizing efficiency" or "streamlining operations."
  • Poor financial results: Declining revenue, reduced profit margins, or missed earnings targets can trigger cost-cutting measures.
  • Increased focus on profitability: A shift in company messaging from growth to profitability can indicate a leaner approach.
  • Voluntary separation programs: Offering severance packages for employees to leave voluntarily, a softer way to reduce headcount.
  • Discontinuation of products or projects: Shutting down underperforming initiatives often leads to redeploying or laying off associated teams.

When will layoffs stop?

It’s unlikely that layoffs will completely "stop" in the traditional sense, but rather evolve in their nature and frequency. The current wave of mass layoffs, driven by a post-pandemic correction and macroeconomic shifts, may eventually subside. However, ongoing workforce adjustments will likely become a more integrated part of the tech industry’s operational rhythm. As technology continues to advance, particularly with AI, companies will perpetually optimize their workforces, leading to more targeted and strategic reductions rather than large-scale, across-the-board cuts. The focus will shift towards continuous reskilling and upskilling, with layoffs becoming more about strategic realignment than simply cost-cutting.

How many recent tech layoffs have there been?

Tech layoffs started surging in the 2022 market correction, with an estimated 93,000 U.S. tech workers laid off that year. That figure more than doubled in 2023, with around 200,000 U.S. tech employees laid off, according to our Tech Layoffs Tracker. Layoffs abated again in 2024, with around 95,000 reported tech layoffs, indicating a continued, albeit slower, pace of restructuring. In 2025, approximately 127,000 workers were let go, and current figures for 2026 suggest a persistent trend. Keep in mind, many companies don’t report detailed layoff figures, and some companies continue hiring after cuts for positions deemed more beneficial to the business, making precise tracking a complex endeavor.

Is selling the company a good option to avoid layoffs?

Selling a company can be an option to avoid immediate layoffs, especially for struggling startups facing cash runway issues. An acquisition can provide the necessary capital injection or operational stability to retain employees who might otherwise be let go. However, an acquisition doesn’t guarantee job security. Mergers and acquisitions often lead to their own rounds of layoffs due to redundancies in roles (e.g., duplicate HR, marketing, or even engineering teams), strategic shifts by the acquiring company, or the integration of technologies that automate previous functions. While it might prevent a total shutdown, it often merely shifts the timing or nature of workforce reductions.

What jobs are being cut in tech layoffs?

Tech layoffs have hit across various departments at many companies, reflecting a broad-based effort to optimize operations. Initially, many layoffs from the large tech giants were software engineers, particularly those hired during rapid expansion. However, startups tended to be more likely to retain engineers in favor of doing layoffs in their talent and recruiting, marketing, and other non-core departments.

More recently, the impact of AI is broadening the scope of affected roles. Google cut roles in its sales, recruiting, product, and engineering teams. Amazon layoffs included jobs in its AWS cloud unit, at its social video platform Twitch, and in its advertising department. Meta CEO Mark Zuckerberg famously stated that the company’s recruiting department would be the first to see job cuts. Now, with companies like Visa, Chime, and Uber explicitly citing AI, roles in customer service, data entry, and even some aspects of technology and product operations are increasingly vulnerable to automation. The trend is towards eliminating repetitive tasks and focusing human capital on innovation, complex problem-solving, and strategic growth initiatives.

Where can I read recent tech layoff news?

Follow all of our comprehensive tech layoffs news here and track which companies are cutting jobs with the frequently updated layoffs tracker above to stay informed on the latest developments.

Where can I see layoffs in the last 24 hours?

While not updated daily, this Crunchbase Tech Layoffs Tracker is updated weekly, if not more frequently, with the latest job cuts at U.S. tech employers. For real-time updates, we recommend checking sources like layoffs.fyi and major financial news outlets.

Which companies are hiring for open tech jobs?

Many tech companies continue to hire for open roles, despite widespread layoffs in the sector. These hires are often strategic, focusing on critical areas like AI development, cybersecurity, or specific product lines deemed essential for future growth. Find out more about Crunchbase’s Actively Hiring filter and how you can find companies with multiple open roles, indicating a more stable or growing employment outlook. You can find all of our job market-related news here.

Can I cite the Crunchbase Tech Layoffs Tracker?

Yes. Please cite Crunchbase News and include a direct link to this Tech Layoffs Tracker (https://news.crunchbase.com/startups/tech-layoffs/) in your publication or research.