June 15, 2024


The Techno Universe

Airtable becomes latest company to announce layoffs, cutting 20% of its workforce

Small-code system Airtable has introduced it would be laying off 254 staff across business improvement, engineering and other groups, about 20% of its workforce.

In an internal e-mail first witnessed by the layoff tracker Layoffs.fyi (which is developed on Airtable), Airtable founder and CEO Howie Liu stated the enterprise will be evolving from a “bottoms-up adopted product” to “bringing related applications to large enterprises.”

“We’ve speedily expanded and executed on several fronts. At the time, I believed we could correctly go after all of them in parallel,” Liu wrote in the e mail to staff. “However, in getting a challenging glimpse at our efforts in the existing marketplace surroundings, we’ve determined the groups very best positioned to capture the opportunity in enterprise in purchase to carry total concentrate, alignment and accountability in our execution.”

Alongside the cuts to particular person teams, Airtable’s main revenue officer, chief people officer and chief merchandise officer will also be leaving the enterprise. TechCrunch reported that the impacted personnel will get at the very least 16 weeks of severance pay out, accelerated fairness vesting and support from an immigration counsel, if on a visa.

Airtable, which provides application that allows organizations to place alongside one another databases and spreadsheets on the cloud without having making use of code, had a $735 million funding spherical in December previous calendar year at $11-billion valuation, bringing the company’s overall investment to $1.4 billion.

The announcement arrives at the tail stop of a 12 months that has been blighted by occupation cuts all across the technological know-how sector. Twitter’s new CEO Elon Musk laid of all around fifty percent the social networking platform’s employees following getting possession in November, though Meta introduced it would be slicing 11,000 employment. Amazon on the other hand plans to quietly layoff 20,000 workforce. Due to the fact September 2022, HP, Cisco, Stripe, and Microsoft have all declared they would be laying off at least 1,000 employees each.

Copyright © 2022 IDG Communications, Inc.