Low-code platform Airtable has announced that it will lay off 254 employees in business development, engineering and other teams, or about 20% of its workforce.
In an internal email first seen by layoff tracker Layoffs.fyi (which is based on Airtable), Airtable founder and CEO Howie Liu said the company will evolve from a "bottom-up adopted product » to «bring connected applications to large enterprises». «. .”
“We grew rapidly and executed on multiple fronts. At that time, I thought we could successfully pursue them all in parallel," Liu wrote in the email to the employees. "However, by carefully reviewing our efforts in the current market environment, we have identified the teams best positioned to seize the opportunity across the business to bring complete focus, alignment and accountability to our execution."
Along with the individual team reductions, Airtable's chief revenue officer, chief human resources officer and chief product officer will also leave the company. TechCrunch said the affected employees will receive at least 16 weeks of severance pay, accelerated stock acquisition and support from an immigration lawyer, if they have a visa.
Airtable, which provides software for companies to build databases and spreadsheets in the cloud without using code, received €735 million in funding in December at a valuation of €11 billion, bringing the company's total investment up to €1,4 billion.
The announcement comes at the end of a year that has been marred by job cuts in the technology sector. Twitter's new CEO, Elon Musk, laid off about half of the social media platform's staff after taking over in November, while Meta said it would cut 11 jobs and Amazon around 000. By 20, HP, Cisco, Stripe and Microsoft have announced that they will lay off at least 000 employees each.
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