Tech layoffs in 2022: A timeline

As inflation, supply-chain problems, and geopolitical turmoil curb revenue growth for tech companies, they have resorted to reducing headcount—some with massive layoffs—to bolster their balance sheets. Here's an updated timeline of the more notable layoffs.

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A week after electronic signature company DocuSign announced the appointment of its new CEO, the company revealed it was laying off approximately 9% of its workforce to support its growth and profitability objectives and to improve its operating margin. In January, it was reported DocuSign had 7,651 employees. The jobs cuts were expected to impact around 670 of those workers.

According to a filing with the US Securities and Exchange Commission (SEC), DocuSign’s restructuring is expected to incur charges of between $30 million and $40 million.

Twilio: Sept. 14—850 people

Twilio announced plans to lay off 11% of its workforce, between 800 and 900 workers from its 7,800-strong employee base.

In a letter published to Twilio’s blog, CEO Jeff Lawson called the layoffs “wise and necessary,” blaming them partially on Twilio’s rapid growth over the last several years. According to Lawson, the cuts will mostly impact “areas of go-to-market,” R&D and Twilio’s general and administrative departments.

During the pandemic, the company saw its headcount almost double as a result of an increased appetite for cloud services and a number of acquisitions, including data security platform Ionic Security and toll-free messaging services provider Zipwhip.

(This story is being updated as news of major tech company layoffs is announced.)

Copyright © 2022 IDG Communications, Inc.

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