A wave of startup layoffs prompted by the coronavirus pandemic appears to have hit almost every sector — travel companies like TripActions, child-care startup Wonderschool and electric scooter startup Bird have all been forced to lay off workers in recent weeks.
Venture-backed startups are grappling with a new economic reality brought by the coronavirus pandemic — plans to raise funding are dissolving rapidly as the threat of a recession grows. Already, funding for private companies has fallen by 12% according to CB Insights and it seems likely to dry up further. There are also reports from founders saying investors are using the COVID-19 pandemic to renege on deals, Business Insider previously reported.
So as startups begin to draft emergency plans to conserve cash this week, job cuts across the ecosystem have ramped up further, even as the coronavirus outbreak prompts historic layoff activity across the entire US economy.
Business Insider is tracking the layoffs and what's happening at each company. The numbers are based on our own reporting as well as media reports elsewhere.
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