Feb layoffs followed by resignations with no behavior change by leadership.
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CONFIRMED: Coatue has pulled their funding, and CEO is on his way out. A third round of layoffs is expected by end-of-year.
Anyone have any idea the criteria they used for picking who got the RIF? It appears that anyone brought in by the former VP of Engineering was on the list. I am just curious because they got rid of many critical teams but left a lot of under performers.
CEO has been very clear that he doesn’t see runway as an excuse to keep employees on payroll. He has said this on multiple all hands. There has been a nearly 50% reduction in headcount in almost 6 months. They’ve also jerked around their customers so much at this point with the constant changes. I don’t know how anyone is comfortable ignoring these signs.
My God the bitterness in some of these responses.......we're all in the same boat but my God.
Yeah let’s listen to one of the genius minds of one of the AEs they kept. Believe the lie because you have to, we get it, but know that the loyalty you’re currently displaying will never be reciprocated.
The software is obsolete. This company is going down the drain. You don’t have 3 rounds of layoffs in 3 months. Sales leadership seemed to all “step back” a few weeks ago.
Several previous comments are exaggerated gossip. Tackle AE here—we have 5+ years of runway and a steady pipeline of enterprise customers coming onboard. Like most growth stage SaaS companies we over-hired over the last 12 months, and the company has been right-sized through layoffs.
But who confirmed it? There have been new deals recently. And they would need at least some devs to fix bugs and off board current customers.
Confirmed: board meeting was this week. Execs - the ones left- were told to wrap it up immediately. Funding pulled.
Only a few employees will remain for a limited time. No sales. No marketing. No Ops. No implementation. No development. Those “last ones out” were informed today. If you were not informed, you were invited to the June 21 company-wide call to be laid off immediately.
Severance is less than the February layoffs. They will not be negotiating with anyone. There isn’t any money left.
June 21. The big one. It’s all over.
Next round of layoffs coming next week. Three highest levels of sales leadership all left this quarter.
New business non existent.
Anyone able to share more? I have an interview coming up.
more layoffs happening today. on the down-low.