Today: Jul 22, 2024

SF tech startup slashes jobs, tough start to 2024 – SF Standard

7 months ago

TLDR:

  • SF-based hiring company Lever recently cut a number of workers
  • Lever’s parent company, Employ, confirmed the headcount reductions
  • Exact number of workers impacted not disclosed
  • Lever helps companies track job applicants and recruiting efforts
  • More than 76,000 tech workers were laid off in the SF Bay Area in 2023

San Francisco-based hiring company Lever has become one of the first tech companies to announce layoffs in 2024. The layoffs come after a challenging year for the tech sector, but hopes for a more optimistic year ahead. Lever’s parent company, Employ, confirmed the layoffs, stating that the decisions were made to align objectives and financial plans for 2024 and beyond. The company declined to provide an exact count of how many workers were impacted, but social media posts suggest that customer service workers were among those hit. Lever’s core product is a platform that helps companies track job applicants and streamline the recruitment process.

This round of layoffs is indicative of the ongoing challenges facing the tech industry in hiring and retaining talent. In 2023, over 76,000 tech workers were laid off by companies in the San Francisco Bay Area. Lever’s layoffs follow a trend of recent reductions in recruiting jobs and people-centered positions within the industry. Lever was acquired by Massachusetts-based Employ in 2022, but financial details of the deal were not made public. Lever had raised over $120 million in funding from venture capital investors. Nate Smith, Lever’s CEO and co-founder, left the company after the acquisition and is currently advising startups at Y Combinator.