https://techcrunch.com/2020/06/10/the-pace-of-startup-layoffs-may-be-slowing-down/

Startups hit the brakes in March as COVID-19 took a toll on the global economy. As certain industries ground to a halt, cohorts of startups made staffing cuts, including those focused on serving restaurants and travel.

The waves of startup layoffs in the COVID-19 era hit companies large and small, impacting even the richest, most recently-funded companies. It was a swift correction to staffing in an industry that had enjoyed a decade-long bull market and record private financing totals. Looking back, the pivot to fear appears brisk.