San Francisco, September 9: Market intelligence firm Sensor Tower has laid off nearly 40 people, including top-level executives, out of its more than 270-strong workforce, the media reported. The job cuts impacted C-suite executives, including the chief marketing officer (CMO), chief financial officer (CFO) and chief product officer, reports TechCrunch.

“Other teams impacted include finance and nearly all of marketing,” the report said. Sensor Tower confirmed the layoffs but did not divulge further details line number of employees impacted. “Sensor Tower’s management team took necessary steps to reorganise and right-size our business under a talented and experienced senior leadership team,” a company spokesperson was quoted as saying. Check Point To Acquire Atmosec To Boost Its SaaS Security Offering and Address Blind Spots, Says Report.

“We are excited about these changes as we position the company for a balance of continued growth and best-in-class profitability. We will provide more details in the coming days,” the spokesperson added.

Sensor Tower hired more people headcount over the years following a $45 million investment from Riverwood Capital in 2020. “The company had then claimed it chose to raise more funds to further grow its business with investments in hiring, marketing and infrastructure,” the report mentioned.

Sensor Tower is uses by some of the top top brands, firms and marketers and its data is regularly cited by top publications. The company “cultivates rich market insights into the trends shaping businesses in the global digital economy”. Roku Layoffs: TV Streaming Company Lays Off Over 300 Employees in Second Round of Job Cuts This Year.

“Our data scientists and algorithms process trillions of aggregated data points that people contribute to us from millions of devices, making up our one-of-a-kind data estate,” it says on its website.

(The above story first appeared on LatestLY on Sep 09, 2023 11:36 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).