From travel to payments, we analyze a crowd-sourced database to dive into the industries that have been hit by layoffs in the wake of the Covid-19 pandemic.
Despite some signs of optimism in the US government’s May jobs report, 13% of Americans remain unemployed in the wake of Covid-19.
Tech companies have been part of the collateral damage: venture-backed companies have tightened belts, made layoffs, and in certain cases, shuttered completely.
Using a crowdsourced database for tech layoffs, we examined where the Covid-19 impact has been greatest. The database skews about two-thirds US-based, includes startups and recently IPOed companies, and counts from 3/11/2020, when the coronavirus outbreak was declared a pandemic.
Note: Layoffs data is from 500+ crowd-sourced observations. Data may be incomplete, but serves directional purposes.