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

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Lower-code platform Airtable has announced it would be laying off 254 workforce across company development, engineering and other teams, all around 20% of its workforce.

In an inner e mail first observed by the layoff tracker (which is developed on Airtable), Airtable founder and CEO Howie Liu explained the company will be evolving from a “bottoms-up adopted product” to “bringing related applications to substantial enterprises.”

“We’ve speedily expanded and executed on many fronts. At the time, I considered we could productively pursue all of them in parallel,” Liu wrote in the email to staff. “However, in having a challenging glance at our attempts in the current current market natural environment, we’ve discovered the teams best positioned to seize the possibility in company in get to provide entire target, alignment and accountability in our execution.”

Alongside the cuts to particular person teams, Airtable’s chief revenue officer, chief people today officer and chief solution officer will also be leaving the corporation. TechCrunch described that the impacted workforce will get at minimum 16 months of severance fork out, accelerated equity vesting and help from an immigration counsel, if on a visa.

Airtable, which provides software that permits organizations to set jointly databases and spreadsheets on the cloud without having utilizing code, had a $735 million funding spherical in December very last year at $11-billion valuation, bringing the company’s total financial investment to $1.4 billion.

The announcement will come at the tail conclude of a yr that has been blighted by career cuts all throughout the technological know-how sector. Twitter’s new CEO Elon Musk laid of around fifty percent the social networking platform’s team immediately after having possession in November, even though Meta declared it would be cutting 11,000 careers. Amazon on the other hand ideas to quietly layoff 20,000 workers. Due to the fact September 2022, HP, Cisco, Stripe, and Microsoft have all announced they would be laying off at the very least 1,000 staff every single.

Copyright © 2022 IDG Communications, Inc.

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