COVID-19 Triggered Mass Layoffs At High-Profile Startups

Many high-profile startups have been hit hard by the COVID-19 pandemic shutdowns. Massive layoffs have occurred across many sectors with few startups unscathed.

The graphic below illustrates how coronavirus has caused most startups to layoff employees with no promise of jobs being available after the threat of coronavirus is gone.

Coronavirus Layoffs

One-third of the recognizable brands examined have laid off 44% or more of their employees. Deliv has laid off all of its employees and Fly has let 98% of its workforce go.

Uber has laid off 6,700 workers, which is 25% of its employees. Groupon is laying off 2,800 workers, the most of any privately-owned startup.

Vaping device company Juul has laid off 900 employees and is closing operations in South Korea. The company will also scale back production in France, reducing its workforce by 30 percent. Vaping was already getting bad press before the coronavirus pandemic started and speculation in the media about a possible connection between COVID-19 and vaping has further hurt the company.

SEE ALSO:
The Struggle of Economies that Rely Heavily on Tourism