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

Lower-code system Airtable has announced it would be laying off 254 employees across business progress, engineering and other teams, all-around 20% of its workforce.

In an interior electronic mail first noticed by the layoff tracker Layoffs.fyi (which is crafted on Airtable), Airtable founder and CEO Howie Liu mentioned the enterprise will be evolving from a “bottoms-up adopted product” to “bringing related apps to substantial enterprises.”

“We’ve swiftly expanded and executed on various fronts. At the time, I thought we could correctly go after all of them in parallel,” Liu wrote in the electronic mail to workers. “However, in using a tricky glance at our endeavours in the existing marketplace environment, we have recognized the teams finest positioned to seize the possibility in business in order to provide total focus, alignment and accountability in our execution.”

Alongside the cuts to particular person groups, Airtable’s main revenue officer, main individuals officer and chief item officer will also be leaving the business. TechCrunch claimed that the impacted workforce will get at the very least 16 weeks of severance shell out, accelerated fairness vesting and assistance from an immigration counsel, if on a visa.

Airtable, which offers software that permits enterprises to set jointly databases and spreadsheets on the cloud devoid of employing code, had a $735 million funding spherical in December last yr at $11-billion valuation, bringing the company’s complete investment to $1.4 billion.

The announcement will come at the tail finish of a yr that has been blighted by task cuts all throughout the know-how sector. Twitter’s new CEO Elon Musk laid of close to half the social networking platform’s employees soon after getting possession in November, when Meta introduced it would be slicing 11,000 employment. Amazon on the other hand ideas to quietly layoff 20,000 staff members. Considering the fact that September 2022, HP, Cisco, Stripe, and Microsoft have all introduced they would be laying off at least 1,000 staff every single.