September Layoffs Update
Firms that have announced layoffs since the beginning of September include:
- Gap, which lost $49 million in the latest quarter, is cutting 500 corporate positions.
- Real-estate brokerage Compass announced its second round of layoffs in three months, an unspecified amount of cuts.
- Cloud communications platform Twilio is laying off about 850 employees in a cost-cutting move. ... Another San Francisco-based company, real-estate marketplace Sundae, is going through a second round of layoffs in three months, according to LinkedIn members.
- Cell-therapy biotech Rubius Therapeutics is doing a strategic 180, pulling the plug on its two lead candidates and cutting 75% of its workforce.
- Warner Bros. Discovery laid off about 100 employees, mostly in its ad sales unit, according to The New York Times.
- Patreon is laying off 17% of its staff, about 80 employees, days after disbanding its five-person security team.
Source: By Bobby Armstrong, Editor at LinkedIn News