A wave of layoffs is sweeping the US. Here are firms that have announced cuts so far, from Compass to Coinbase.

Avery HartmansJun 17, 2022, 04:25 IST

Compass

A wave of layoffs has swept across American business in the first half of 2022.
The cuts stem from slower business growth, paired with rising labor costs.

Layoffs are sweeping across American businesses in the first half of 2022.

Peloton has already laid off thousands of employees this year. Online car dealer Carvana slashed 12% of its workforce. Even traditionally layoff-resistant companies like Netflix are making cuts, and now real estate brokerages are cutting hundreds of jobs.

The reason, broadly, is twofold: Business growth is slowing, while labor costs are increasing. The combination is causing American companies across a variety of industries to slash headcount.

Here are some of the most notable examples so far:

Compass: 450 employees

A house for sale marketed by the real-estate brokerage Compass.Smith Collection/Gado/Getty Images

Redfin: About 6% of total employees

Redfin CEO Glenn Kelman.Redfin

Coinbase: About 18% of its workforce

Coinbase CEO Brian Armstrong.Patrick T. Fallon / Getty Images

Tesla: Hiring freeze, and potential layoffs reportedly coming to 10% of staff

Tesla CEO Elon Musk.Yasin Ozturk/Getty Images

Carvana: About 2,500 people

Ernest Garcia III, CEO of online car dealer Carvana.Brendan McDermid/Reuters

Reef: About 750 people

Employees unload at a Reef location.Pat Greenhouse/The Boston Globe via Getty Images

Gopuff: More than 400 people

A delivery driver is shown picking up a Gopuff bagHannah Yoon

Better: About 4,000 people

Vishal Garg is the founder and CEO of Better.com. He was responsible for laying off hundreds of people right before the holidays in 2021.Better.com

Noom: 495 people

Saeju Jeong, cofounder & CEO of Noom.Sam Barnes/Sportsfile for Web Summit via Getty Images

Peloton: Over 2,800 people

Peloton makes a popular treadmill with a subscription service.Peloton / Youtube

Thrasio: Up to 20% of staff, sources say

Thrasio founder and CEO Carlos Cashman.Thrasio

Robinhood: More than 300 people

Robinhood CEO Vlad Tenev.AP/David Martin

Wells Fargo: Unknown number of people in mortgage lending

REUTERS/ Shannon Stapleton

Canopy Growth: 250 people

Master Grower Ryan Douglas smells a marijuana plant in Smith's Falls, Ontario, on February 20, 2014.Blair Gable/Reuters

Food52: About 20 people

Cofounder and CEO of Food52, Amanda Hesser.Food52

Cameo: 87 people

Cameo operates a service where users can pay celebrities to record personalized audio or video clips.Cameo

PayPal: 83 people

PayPal headquarters in San Jose, California, on February 2, 2022.Justin Sullivan/Getty Images

Gorillas: 'Nearly 300' people

Gorillas CEO Kagan Sumer.Gorillas

Netflix: About 150 people

Netflix Co-CEO Reed Hastings.Getty Images Latam

Outside, ClickUp, Zulily, and Latch all laid off people

A Zulily logo on display at QVC Studio Park in West Chester, Pennsylvania, in 2018.Brendan McDermid/Reuters

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