Loom announces layoffs, VC-backed startups are struggling
https://techcrunch.com/2022/06/01/a16z-backed-loom-video-layoffs/
A year after becoming a unicorn, video collaboration firm Loom has laid off 34 employees, or 14% of its total staff, sources say.
Welcome to the hectic times!
Statement from founder and CEO Joe Thomas:
"We’ve had to make the extremely difficult decision to move forward with a reduction in force across our team. Each person impacted was not only a talented employee, but also a valued individual and teammate. We’re committed to supporting these employees through this transition both in their offered severance as well as career support. We’re confident in the path ahead for Loom. This decision was ultimately made to ensure we’re able to move forward sustainably, especially in light of increased economic uncertainty, and continue to deliver on our vision for years to come."