Loom Conducts Second Round of Layoffs This Year 2022
Loom, a tech startup for video messaging, has carried out its second layoffs of the year. headquartered in San Francisco, Loom lowered its staff from 219 to 196 employees after laying off 23 people on Wednesday. The spokesperson did not reveal which departments were most affected by the cutbacks, however, CEO Joe Thomas’ statement implies that “the sales-led side” was largely targeted.
This round of layoffs at Loom comes just a few months after the company’s first wave of cuts which impacted 30 employees. At the time, Loom cited “challenges in building a self-sustaining business model” as the reasoning behind the layoffs.
Despite these difficulties, Loom remains optimistic about its future growth. “We are a growth company and we believe in our vision as strongly as ever,” Thomas said.
The layoffs at Loom are part of a larger trend of tech startups struggling to maintain profitability. In the past year, companies such as WeWork, Uber, and Lyft have all laid off employees as they attempt to navigate a shifting landscape.