The latest startup to join the layoff winter is Airtable, a low-code platform for building collaborative app has announced to lay off about 27 per cent of the workforce or 237 employees, in the second round of job cuts.
The company CEO, Howie Liu in a message to its employees revealed that the company will be offering severance pay and compensation to the impacted employees. The company has also announced the employees will also get 6 months of healthcare premium coverage, along with an additional cash payment to cover other Airtable-provided benefits for the next 60 days.
The layoffs will be company-wide, with the largest impact on product and sales teams focused on selling and servicing smaller clients, the report mentioned. In December last year, Airtable laid off over 250 employees, or 20 percent of its workforce across business development, engineering, and other teams.
“The market has tipped towards favouring efficient growth over growth at all costs. We must operate the business in a more mature way that puts us on a path to become a public company and to have durability and efficiency in how we grow,” Howie Liu, Airtable’s founder and CEO, was quoted as saying.
Airtable was founded in 2013 by Liu and Co-founders Andrew Ofstad and Emmett Nicholas, as a cloud-based spreadsheet startup to rival Microsoft Excel. The Airtable app is a cloud-based relational database that looks like a spreadhseet and can be used by nontechnical workers to analyze data as well as plan and collaborate on projects. Airtable currently has six offices across the globe.
