After Silicon Valley woke up to the economic crisis last week and VCs rang the alarm bells, startups are starting to heed the call and tighten their belts for a long winter. As the slide above from Sequoia Capital illustrates, belt-tightening now may be the most prudent thing a startup can do. While nobody likes layoffs, least of all the employees losing their jobs, it increases a startup’s chance for survival by reducing how much cash they burn each month.
This week alone, we’ve seen layoffs at Zillow, Pandora, Zivity, AdBrite, Hi5, Jive Software, and Redfin (which laid off 20 people). The week before was Seesmic, and before that eBay. We’re hearing rumblings of more to come.
It’s hard to keep up with it all. So we’ve created a simple Layoff Tracker to keep count. We’ll add layoff data here for tech companies big and small going forward. Hopefully, all the companies on this list will come out stronger on the other end.
If you know of any that have been overlooked, please submit a tip with the name of the company and number of layoffs. If it’s been covered, also send a link to the blog post or news article.
[Image attribution: Sequoia Capital]