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

Bridget J. Sims

Minimal-code system Airtable has declared it would be laying off 254 employees throughout enterprise improvement, engineering and other groups, all over 20% of its workforce.

In an inside electronic mail first found by the layoff tracker Layoffs.fyi (which is created on Airtable), Airtable founder and CEO Howie Liu explained the corporation will be evolving from a “bottoms-up adopted product” to “bringing connected applications to large enterprises.”

“We’ve swiftly expanded and executed on various fronts. At the time, I considered we could successfully pursue all of them in parallel,” Liu wrote in the email to workers. “However, in getting a tricky glimpse at our efforts in the present-day industry atmosphere, we’ve identified the teams very best positioned to capture the prospect in organization in get to convey total emphasis, alignment and accountability in our execution.”

Together with the cuts to personal teams, Airtable’s chief earnings officer, chief people officer and chief solution officer will also be leaving the company. TechCrunch noted that the impacted staff members will get at least 16 months of severance spend, accelerated fairness vesting and aid from an immigration counsel, if on a visa.

Airtable, which provides application that lets corporations to set collectively databases and spreadsheets on the cloud devoid of applying code, had a $735 million funding round in December final yr at $11-billion valuation, bringing the company’s whole investment to $1.4 billion.

The announcement comes at the tail close of a year that has been blighted by task cuts all across the technological know-how sector. Twitter’s new CEO Elon Musk laid of close to 50 percent the social networking platform’s team just after getting ownership in November, though Meta introduced it would be chopping 11,000 employment. Amazon on the other hand options to quietly layoff 20,000 workforce. Because September 2022, HP, Cisco, Stripe, and Microsoft have all announced they would be laying off at least 1,000 staff members every.

Copyright © 2022 IDG Communications, Inc.

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