San Francisco, February 28 : Mobile application developer company Bending Spoons has laid off 129 employees of note-taking and task management app Evernote, months after acquiring the company. According to TechCrunch, Bending Spoons acquired Evernote, founded over 20 years ago, in November last year. Tech Layoffs 2023: 417 Firms Sack Over 1.2 Lakh Employees in Just January-February Period.

"This was a difficult -- yet necessary -- decision as we pursue our ambitious plans for Evernote. The company has been unprofitable for years and the situation was unsustainable in the long term," a spokesperson was quoted as saying. Cerebral Layoffs: US-Based Telehealth Startup To Sack 15% of Its Workforce.

Though it is unclear which specific departments were affected, posts on LinkedIn and Blind (a social media app) suggest that the layoffs touched a range of Evernote teams, including product design, engineering, HR, sales, customer service, and marketing, according to the report.

Over the past few decades, Evernote has had its ups and downs, including mass layoffs in 2015 and 2018 -- a year in which top executives, such as Evernote's chief technical officer, chief financial officer, chief product officer, and chief human resources officer, left the company.

However, the company has turned things around more or less, reporting $100 million in annual recurring revenue (ARR) within the last five years, said the report. Meanwhile, Cloud infrastructure provider DigitalOcean has laid off about 11 per cent of its workforce, or nearly 200 employees.

"Our goal was to do this once so we would move forward towards business as usual again. Ongoing reductions are disruptive to the business and more importantly our employees, and we would like to minimise this as much as possible," said the company.

(The above story first appeared on LatestLY on Feb 28, 2023 07:39 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).