Big data startup Dataminr slashing 20% of staff as part of restructuring

Dozens of jobs are on the chopping block at Dataminr as the big data startup restructures its business.

According to TechCrunch, the New York-based tech company is eliminating approximately 20 per cent of its total workforce, or 150 positions.

In a memo to staff, founder and CEO Ted Bailey cited the impact of the economic environment, operational efficiencies, and “the recent rapid advancements of our AI platform.”

He added that the restructuring measures will “put Dataminr on a very strong financial footing moving forward.”

It remains unclear if any Canadian workers are affected by the latest round of job cuts.

Dataminr claims on its website that it employs more than 800 people across seven global offices.

Major tech layoffs continue

The reported reduction at Dataminr comes amid a flurry of tech sector layoffs in 2023.

Big names, including Broadcom, ByteDance, Amazon, Informatica, Ubisoft, Bungie, Splunk, Nokia, and LinkedIn, have significantly scaled back their staffing levels as they continue to navigate challenging economic conditions.

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Termination agreements for Dataminr employees

In Canada, non-unionized employees at Dataminr are owed full severance pay when they lose their jobs due to downsizing, corporate restructuring, or the closure of the business.

This includes individuals working full-time, part-time, or hourly in Ontario, Alberta, and B.C.

People working “on contract” or as a contractor may also be owed severance pay — given that many employees in Canada are often misclassified as independent contractors.

Severance can be as much as 24 months’ pay, depending on a number of factors.

LEARN MORE
• Severance for provincially regulated employees
• Rights to severance for tech sector workers
• Severance packages during mass layoffs

WATCH: Employment lawyer Lior Samfiru explains why you are still owed severance if you have been downsized on an episode of the Employment Law Show.

Before you accept any severance offer, have an experienced employment lawyer at Samfiru Tumarkin LLP review it and your employment contract.

We can tell you if what you have been provided is fair and how to get proper severance if it falls short of what you are actually owed.

If you don’t receive the full amount, which happens often, you have been wrongfully dismissed and are entitled to compensation.

In some cases, employers pressure staff into accepting poor severance packages, such as imposing a deadline for accepting the offer.

Non-unionized employees in Canada have up to two years from the date of their dismissal to pursue a claim for full severance pay.