- Just this week, at least 10 startups have shaved off significant proportions of their workforce, including female co-working space The Wing and workout-subscription startup ClassPass.
- Visit Business Insider's homepage for more stories .
10 startups, including ClassPass and TheWing, have begun cutting significant proportions of their workforces just this week
Tech startups have not been spared from the coronavirus outbreak, which has prompted historic layoff activity
FILE - In this March 18, 2020 file photo, visitors to the Department of Labor are turned away at the door by personnel due to closures over coronavirus concerns. The coronavirus pandemic has already hurt many households financially. Americans have been hit with layoffs, furloughs and reduced hours across the country. Those who have not are still facing massive economic uncertainty. Experts say it's more important than ever to manage your budget, reach out to lenders and seek protections available to those hit by the economic impact of the virus. (AP Photo/John Minchillo, File)
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 .
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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.
Coco-Cola-backed buzzy startup Iris Nova laid off 50% of its staff
BusinessInsider USA Images
Hollis Johnson/Business Insider
Source: Business Insider
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Women-focused coworking space The Wing laid off almost all of its space teams and half its headquarters
BusinessInsider USA Images
Sarah Jacobs/Business Insider
Source: Fast Company
ClassPass has cut or furloughed the jobs of half of its employees
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BusinessInsider USA Images
Diarmuid Greene/Sportsfile via Getty Images
Source: CNBC
Austin-based unicorn RigUp laid off 25% of its workforce
BusinessInsider USA Images
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RigUp
Source: AmericanInno
Services-focused platform Thumbtack cut 250 employees
BusinessInsider USA Images
YouTube/Startup Grind
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Source: Thumbtack
Pet-care startup Rover laid off 41% of its workforce
BusinessInsider USA Images
Joey Hadden/Business Insider
Source: GeekWire
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Overtime, the Kevin Durant-backed sports media startup, laid off 20% of its employees
BusinessInsider USA Images
John Nowak/SportsPro via Getty Images
Source: Business Insider
KeepTruckin laid off 349 employees
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BusinessInsider USA Images
Courtesy of KeepTruckin.
Source: FreightWaves
DTC lingerie startup ThirdLove cut between 30-35% of its staff
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ThirdLove
Source: Business Insider
E-commerce company Modsy laid off an unspecified number of staffers
BusinessInsider USA Images
Noam Galai/Getty
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Source: TechCrunch
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