The US-based meditation app Calm has laid disconnected 20% of its workforce, becoming the latest US tech startup to denote occupation cuts.
The firm’s boss, David Ko, said the company, which has present axed astir 90 radical from its 400-person staff, was “not immune” to the economical climate. “In gathering retired our strategical and fiscal plan, we revisited the concern thesis down each task and it became wide that we request to marque changes,” helium said successful a memo to staff.
“I tin guarantee you that this was not an casual decision, but it is particularly hard for a institution similar ours whose ngo is focused connected workplace intelligence wellness and wellness.”
The Calm app, founded successful 2012, offers guided meditation and bedtime stories for radical of each ages. It received a surge of downloads triggered by the 2020 Covid lockdowns. By the extremity of that year, the bundle institution said the app had been downloaded much than 100 cardinal times globally and had amassed implicit 4 cardinal paying subscribers.
Investors valued the firm, which said it had been profitable since 2016, astatine $2bn.
In the memo, Ko went on: “We did not travel to this determination lightly, but are assured that these changes volition assistance america prioritize the future, absorption connected maturation and go a much businesslike organization.”
More than 500 startups person laid disconnected unit this year, according to layoffs.fyi, a website that tracks specified announcements.