Startups Keep Slashing Jobs

Hi, it's Sarah McBride here. As of late Tuesday, more than 5,000 startup employees are out of a job as the coronavirus wreaks havoc on the economy. That’s according to Layoffs.fyi, a project dedicated to chronicling the virus’s spiraling impact on the tech industry.

Layoffs.fyi was started by Roger Lee, co-founder of retirement-benefits service Human Interest, who created the site as a side project. Much like the Covid-19 tracker run by the U.S. Centers for Disease Control and Prevention, which updates the number of new cases per day, Lee’s site incorporates notifications of new layoffs, mostly from news articles and company announcements, in real-time and arranged by date. It joins other projects like Layoff List in taking a survey of recent firings.