Workers with boxes Peloton and Glossier aren’t the first companies to face massive layoffs after a period of high growth, and they won’t be the last. (Photo: Shutterstock)

The first quarter of the new year saw a number of headlines heralding mass layoffs at high-growth companies. Peloton announced recently it would let go of 2,800 employees worldwide — about 20% of the company’s corporate workforce, according to reporting from the New York Times. Only a few days earlier, beauty brand Glossier announced it would lay off a third of its workers.

Both announcements followed periods of high growth. Peloton’s revenue skyrocketed 66% in the first three months of 2020 compared to a year earlier. And Glossier raised $80 million in Series E funding last summer.

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