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

Lower-code system Airtable has introduced it would be laying off 254 workers throughout company development, engineering and other groups, close to 20% of its workforce.

In an interior e-mail initially witnessed by the layoff tracker (which is developed on Airtable), Airtable founder and CEO Howie Liu mentioned the firm will be evolving from a “bottoms-up adopted product” to “bringing related apps to significant enterprises.”

“We’ve fast expanded and executed on a number of fronts. At the time, I thought we could efficiently go after all of them in parallel,” Liu wrote in the e-mail to workers. “However, in having a hard glance at our attempts in the latest industry ecosystem, we’ve recognized the teams ideal positioned to seize the option in enterprise in buy to bring full concentration, alignment and accountability in our execution.”

Together with the cuts to individual groups, Airtable’s main revenue officer, main people officer and main item officer will also be leaving the corporation. TechCrunch claimed that the impacted workforce will get at the very least 16 weeks of severance pay out, accelerated equity vesting and help from an immigration counsel, if on a visa.

Airtable, which delivers software that enables firms to place alongside one another databases and spreadsheets on the cloud without having working with code, had a $735 million funding round in December final calendar year at $11-billion valuation, bringing the company’s overall investment to $1.4 billion.

The announcement arrives at the tail conclude of a yr that has been blighted by occupation cuts all throughout the technological know-how sector. Twitter’s new CEO Elon Musk laid of around half the social networking platform’s personnel right after having ownership in November, whilst Meta declared it would be chopping 11,000 jobs. Amazon on the other hand plans to quietly layoff 20,000 personnel. Considering that September 2022, HP, Cisco, Stripe, and Microsoft have all introduced they would be laying off at minimum 1,000 employees each individual.

Copyright © 2022 IDG Communications, Inc.

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