San Francisco Tech Startup Airtable Lays Off More Than 230 Workers for the Second Time in a Year
San Francisco tech startup, Airtable, Is going through a second round of layoffs this year, announcing they'll be letting go of 237 workers, the company announced on Friday.
The layoffs come as Airtable, once valued at $11 billion, is facing a number of challenges, including a slowdown in revenue growth, inflation, and supply chain disruptions.
Airtable is a productivity software company that allows users to create custom databases and applications. The company has been growing rapidly in recent years, but it has also been struggling to keep up with the competition from other tech giants such as Google and Microsoft.
In a note to employees, Airtable CEO Howie Liu said that the layoffs were necessary to "ensure that we are best positioned for long-term growth." Liu also said that the company would be "slowing down hiring in some areas."
The layoffs come at a time when the tech industry is facing a broader slowdown. A number of other tech giants, including Meta, Twitter, and Netflix, have also announced layoffs in recent months.
Context on Airtable and Its History of Layoffs
Airtable was founded in 2012 and has raised over $2.7 billion in funding. The company has over 1,000 employees and is headquartered in San Francisco.
Airtable laid off 254 employees in December 2022, amid wider industry layoffs and a company pivot toward larger customers.
The latest round of layoffs at Airtable will leave 27% of the company's employees out of work. The job cuts were "company-wide" and across the firm's offices in downtown San Francisco, Mountain View, Austin, Los Angeles, New York and London.
Laid-off workers will receive at least 16 weeks of severance pay and six months of health care premiums, along with some stock benefits.
What the Layoffs Mean for Airtable's Future
The layoffs at Airtable are a sign that the company is struggling to keep up with the competition and the challenges facing the tech industry as a whole.
It is unclear how the layoffs will impact Airtable's long-term growth. However, the company says that it is committed to investing in new areas and hiring in new areas.
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Resources for Affected Employees
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