Amplitude Layoffs: US-Based Software Firm Sacks 13% of Workforce Globally Amid Tough Macroeconomic Conditions
"On behalf of myself and the co-founders, I want to share the most difficult decision we've had to make since starting Amplitude over ten years ago. Today, we are reducing the size of our global team by 13 per cent," wrote Spenser Skates, CEO and Co-founder, in a blogpost.
San Francisco, April 7: US-based software company Amplitude has laid off 13 per cent of its workforce, or 99 employees, amid tough macroeconomic conditions.
"On behalf of myself and the co-founders, I want to share the most difficult decision we've had to make since starting Amplitude over ten years ago. Today, we are reducing the size of our global team by 13 per cent," wrote Spenser Skates, CEO and Co-founder, in a blogpost. Tech Layoffs: Over 23,000 Employees Lose Jobs in Nearly 82 Indian Startups to Date.
"Unfortunately, we are not immune to the headwinds being faced by our customers or to the macroeconomic environment at large. After evaluating multiple options, it was clear we needed to take these steps to enable us to scale for the future, continue on our path to profitability, and ultimately deliver on our long-term vision," he added.
Of the 99 employees in total, the company said that the majority of those impacted are in the GTM organisation, with the balance coming from product development, the CFO organisation, and the people & places team. The software firm has over 700 employees and counting, with offices in the US, Europe and Asia, according to Amplitude's website. Dukaan Layoffs: Retail Tech Platform SaaS Sacks 30% of Its Workforce, Second Layoff in Six Months.
Under the severance package, the company announced to pay at least 16 weeks of salary in the US and the international employees will remain on the payroll until June 15, and their severance package will be consistent with regional best practices.
Last month, software consultancy company Thoughtworks announced to lay off nearly 500 employees, or 4 per cent of its global workforce to cut costs amid global macroeconomic conditions. Nasdaq-listed Thoughtworks has more than 12,500 employees across 18 countries. The company also has a strong presence in India.
(The above story first appeared on LatestLY on Apr 07, 2023 02:28 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).