Tech layoffs are back: LinkedIn to cut another 668 jobs, Flexport to shed 600

Monday, October 16, 2023

Technology company layoffs continue, my fellow Daily Crunchers. In today’s top story, LinkedIn confirms it will cut 668 jobs — this brings it up to 1,400 this year if you are keeping count — as the company leans into AI. Meanwhile, Flexport is getting its house in order since ousting its CEO. However, that restructuring is coming with some layoffs of about 20% of its workforce.

Meanwhile, General Catalyst and European early-stage fund La Famiglia came together to invest in European startups. Read how the partnership will work.

And if you were wondering if people cared about AI apps, a new study finds they do. Well, at least Mac users do — to the tune of 42% using AI apps daily. Get the scoop.

Image Credits: Smith Collection/Gado / Getty Images

Lifecycle marketing for product-led growth

More top reads

Now you can wear your favorite Spotify artist: The entertainment streaming service is launching a personalized in-app Merch Hub. Check it out.

It’s an AI kind of day: Creative Force closes on $8.9 million to give e-commerce workflows an AI treatment. Marketing just got a little easier.

Seeding rounds: Startup valuations may be coming down, but Alex notes that seed investments are going the other way, leading him to ask: Will seed deals ever stop getting more expensive? (TC+)

X meets a fine: Australia fines X for failing to provide information about child abuse content. X left some questions blank.

More AI: YouTube gets new AI-powered ads that let brands target special cultural moments. Get to know Spotlight Moments.

All the tools in the palm of your hand: Live commerce startup TalkShopLive launches a new app for sellers to broadcast on mobile. See why this feature was a consistent ask by users.

Seeing is believing: Xpanceo, a deep tech startup, raises $40 million to focus on smart contact lenses. It’s a computer, but in your eye.

This company is actually full of hot air: Urban Sky closes on a $9.75 million Series A to scale Earth-imaging operations using reusable balloons. Check out the view from up there.

Compliance is complex: Leucine, now with $7 million in new funding, is out to make drug manufacturing compliance less onerous. Here’s how.

ByteDance means business: ByteDance’s video editor CapCut targets businesses with AI ad scripts and AI-generated presenters. Meet CapCut for Business.

Data data everywhere: Observability startup Pantomath lands $14 million to automate data pipelines. Read more.

Weekend warriors you may have missed:

Where’s the innovation in induction kitchens? (TC+)

How founders can cut through the noise and find events that are actually worth it (TC+)

How roboticists are thinking about generative AI

How generative AI is creeping into EV battery development