HubSpot, a Cambridge, Massachusetts-based software company, said it would cut 7% of its workforce by the end of the first quarter of 2023 in a Securities and Exchange Commission filing, as part of a restructuring plan, with CEO Yamini Rangan telling staff it follows a “downward trend” after the company “bloomed” in the Covid-19 pandemic, with HubSpot facing a “faster deceleration than we expected.” Yesterday, Philips said it would cut 3,000 jobs worldwide in 2023 and 6,000 total by 2025 after announcing $1.7 billion in losses for 2022. Spotify, IBM, Google, Microsoft, Amazon, and a slew of other tech companies announced layoffs in recent days/weeks as well.
Further reading: PagerDuty CEO Quotes MLK Jr. In Worst Layoff Email Ever
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