Low-code platform Airtable has introduced it could be shedding 254 staff throughout enterprise growth, engineering and different groups, round 20% of its workforce.
In an inner e-mail first seen by the layoff tracker Layoffs.fyi (which is constructed on Airtable), Airtable founder and CEO Howie Liu stated the corporate might be evolving from a “bottoms-up adopted product” to “bringing linked apps to giant enterprises.”
“We’ve quickly expanded and executed on a number of fronts. On the time, I believed we may efficiently pursue all of them in parallel,” Liu wrote within the e-mail to staff. “Nonetheless, in taking a tough take a look at our efforts within the present market setting, we’ve recognized the groups greatest positioned to seize the chance in enterprise in an effort to convey full focus, alignment and accountability in our execution.”
Alongside the cuts to particular person groups, Airtable’s chief income officer, chief folks officer and chief product officer may also be leaving the corporate. TechCrunch reported that the impacted staff will get not less than 16 weeks of severance pay, accelerated fairness vesting and help from an immigration counsel, if on a visa.
Airtable, which supplies software program that permits companies to place collectively databases and spreadsheets on the cloud with out utilizing code, had a $735 million funding spherical in December final 12 months at $11-billion valuation, bringing the corporate’s whole funding to $1.4 billion.
The announcement comes on the tail finish of a 12 months that has been blighted by job cuts all throughout the expertise sector. Twitter’s new CEO Elon Musk laid of round half the social networking platform’s workers after taking possession in November, whereas Meta introduced it could be reducing 11,000 jobs. Amazon alternatively plans to quietly layoff 20,000 staff. Since September 2022, HP, Cisco, Stripe, and Microsoft have all introduced they’d be shedding not less than 1,000 staff every.
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