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If you've been wondering about the next big layoff in the tech industry, you've come to the right place. The cloud-based CRM company, Salesforce, is not planning any new layoffs as of now. However, it is not ruling out possible staff cuts in the near future. A recent article reported that Tonal Systems is laying off 35% of its workforce. In addition, Groupon is cutting 300 jobs. Shopify is also cutting 10% of its workforce.
Tonal Systems laid off 35% of its 750 employees
A home fitness company backed by celebrities is also planning layoffs, as Tonal Systems Inc. cut 35% of its staff. The company now has 550 employees. The company also plans to restructure its management team.
Tonal, which was valued at $1.6 billion last year, offers wall-mounted fitness equipment. Its sales force is currently 750 strong, but it had employed over 110 before the outbreak of Covid-19. The company received $450 million in funding and signed LeBron James and Serena Williams to endorse their products. While Tonal is currently struggling, the company is trying to turn itself around with its product.
Tonal, which was valued at $1.6 billion last year, offers wall-mounted fitness equipment. Its sales force is currently 750 strong, but it had employed over 110 before the outbreak of Covid-19. The company received $450 million in funding and signed LeBron James and Serena Williams to endorse their products. While Tonal is currently struggling, the company is trying to turn itself around with its product.
Groupon cuts 300 jobs
In order to cut costs, Groupon is laying off hundreds of employees. The company currently has 3,416 employees, a significant reduction from its previous workforce of over 7,000. These employees work in various departments, including marketing, engineering, merchant development, and sales. The layoffs are expected to reduce Groupon's headcount by 15%. In addition, Groupon plans to focus on mission-critical activities and reorganize support functions. The company is also reducing its real estate footprint.
Groupon has started the process of cutting its current cost structure and expects to save $150 million annually in the first phase. This will be offset by restructuring costs of $10 to $20 million. The next phase of the plan will focus on identifying additional $50 million in savings. As part of this effort, the company is right-sizing its tech organization to fit the needs of the company. It also plans to cut tech costs by at least $60 million in the first two years. This is equivalent to nearly 30% of the company's annual tech budget.
Groupon has started the process of cutting its current cost structure and expects to save $150 million annually in the first phase. This will be offset by restructuring costs of $10 to $20 million. The next phase of the plan will focus on identifying additional $50 million in savings. As part of this effort, the company is right-sizing its tech organization to fit the needs of the company. It also plans to cut tech costs by at least $60 million in the first two years. This is equivalent to nearly 30% of the company's annual tech budget.
Hootsuite cuts 30% of its workforce
A social media management company has announced that it is laying off about thirty per cent of its global workforce, affecting about 400 employees. Hootsuite is headquartered in Vancouver, Canada. In a statement, CEO Tom Keiser said that the company is refocusing its strategies and making the cuts reflect that change.
As a result, the company has been refocusing on customer service and e-commerce. In addition, the company has made changes to its executive team, bringing on Natalia Williams as chief product officer and Tiziana Figliolia as CFO. It has also revamped its board with new members, replacing longtime chairman Ryan Holmes with Julie Herendeen. Other new board members include Christiane Pendarvis of Savage X Fenty, Dave Singh of Tucows, and Carl Sparks of Interlock Partners.
As a result, the company has been refocusing on customer service and e-commerce. In addition, the company has made changes to its executive team, bringing on Natalia Williams as chief product officer and Tiziana Figliolia as CFO. It has also revamped its board with new members, replacing longtime chairman Ryan Holmes with Julie Herendeen. Other new board members include Christiane Pendarvis of Savage X Fenty, Dave Singh of Tucows, and Carl Sparks of Interlock Partners.
Twilio cuts 17%
Twilio, a company that offers cloud-based messaging services, is cutting nearly 17% of its staff, or about 300 jobs, from its workforce. The company had approximately 7,867 employees at the end of last year. The decision to cut staff was made to run the company more efficiently. Patreon, a crowd-funding website, has also announced that it will cut 17% of its workforce, or about 650 jobs. Last week, the company let go five employees from its security team.
Twilio's Customer Engagement Platform enables companies to interact with their customers and clients in a variety of ways. For example, the most effective way to engage customers is through text messaging, with an open rate of 98% and a click-through rate of 36%. However, only around 11% of companies use this marketing channel. In order to take advantage of this growing trend, companies can use Twilio to send messages to their customers through their messaging apps.
Twilio's Customer Engagement Platform enables companies to interact with their customers and clients in a variety of ways. For example, the most effective way to engage customers is through text messaging, with an open rate of 98% and a click-through rate of 36%. However, only around 11% of companies use this marketing channel. In order to take advantage of this growing trend, companies can use Twilio to send messages to their customers through their messaging apps.
Patreon cuts 17%
Patreon has announced that it is cutting 17% of its salesforce in a move that could have a negative impact on the company's bottom line. In a memo to its employees, Patreon CEO Jack Conte explained the reasons behind the layoffs, citing the slowdown in the U.S. economy and the continued expansion of COVID, the creator-funding network. In addition to the cuts, the company will close offices in Dublin and Berlin and consolidate engineering efforts within the U.S. The company has also announced severance packages for those who are affected by the layoffs. Employees will receive three months of severance pay, and COBRA health benefits for the remainder of the year.
As part of the changes, Patreon will focus on building its product and engineering teams, and it will reduce the marketing team and consolidate the creator-partnerships team. The company's goal is to provide the best user experience and to continue to grow its business as the world's leading content platform.
As part of the changes, Patreon will focus on building its product and engineering teams, and it will reduce the marketing team and consolidate the creator-partnerships team. The company's goal is to provide the best user experience and to continue to grow its business as the world's leading content platform.
