As the number of coronavirus cases in Georgia stabilize, Congress discusses another stimulus package and the global economy struggles to bounce back, Atlanta tech companies are still feeling the weight of economic strife from the Covid-19 pandemic.
In April, we reported on layoffs happening across the Atlanta tech and startup ecosystem as the first wave of economic woes began to affect our community. Today, we're checking the financial pulse on our community by looking at recent layoffs, furlough announcements and even bankruptcies.
Here are the layoffs and furloughs that have happened in Atlanta tech this summer so far:
SalesLoft: In May, SalesLoft announced it was forced to lay off around 55 employees due to the pandemic. According to the Atlanta-based sales software startup, the decision was made after sales continued to fall during the post-Covid economy.
Vesta Corporation: The Alpharetta-based SaaS fraud protection company has filed a WARN notice. According to the filing, the company will let go 56 employees effective Sept. 20. Vesta Corp. is headquartered in Portland, Oregon with flagship offices in Atlanta, Ireland, Singapore and Mexico City.
Benevis: This Marietta-based support services provider for dentists has filed for bankruptcy protection, according to Bloomberg Law. The private equity-backed company has plans to sell and listed assets and liabilities of as much as $500 million each in the filing. The company provides services to about 200 dental practices across the country.
Macy's: The 162-year-old retailer confirmed it would not open a technology hub in Midtown, just three months after making the announcement that its San Francisco tech hub was moving to Atlanta. The project was set to provide 630 jobs for Atlanta residents. The retailer had already signed a lease for nearly 108,000 square feet at the T3 West Midtown building for the tech unit --- an estimated value between $40 million to $50 million. The company was not forthcoming about what it would do with the space.
