Toptal layoffs a wake-up call for freelancers

Toptal's post-acquisition layoffs raise questions about the security of traditional employment vs. freelancing

Toptal, a platform known for connecting businesses with freelance talent, has laid off 70% of its engineering team. This news comes despite two acquisitions earlier this year – software developer VironIT and marketing freelancer platform Growth Creative. The layoffs, which affected staff in the U.S., Ukraine, and Poland, were reported by The Information and corroborated by former employee posts on LinkedIn

VironIT is a software specialising in custom software solutions and IT consulting services. Combine that with Growth Creative's talent network of freelance software developers, designers, finance experts, product managers, and project managers and you can see where that expansion may have been more about acquiring the tech and freelancer contact book, than building Toptal's in-house numbers.