Klaviyo, an e-commerce marketing automation platform, has laid off 140 of its staff across all teams, including engineering and design, TechCrunch has learned from a number of sources.
Klaviyo’s director of public relations, Lacey Berrien, confirmed the workforce reduction over email, adding that their “focus is supporting the departing Klaviyos who made meaningful contributions to the company.” Using publicly available figures on Klaviyo’s staff size, the layoff has impacted roughly 10% of staff. TechCrunch obtained correspondence sent from leadership to impacted employees which stated, “after careful consideration, we have made the difficult decision to reduce our overall workforce in an effort to reduce redundancy and recalibrate Klaviyo’s areas of investment for the future.”
Now, unfortunately, Klaviyo is joining the long list of tech companies that have had mass layoffs in 2023. In January, HubSpot, another Boston-based marketing giant, announced its plans to cut 7% of its workforce.
TechCrunch extensively profiled the Boston-based business’ history of growth and goal to rebuild owned marketing outside of the pandemic. The business, at its core, helps other businesses better capture its customer’s cash with email triggers, product recommendations and predictive analytics. To date, it has landed more than 100,000 users, it claims, including the likes of Unilever and Living Proof. The heavily venture-backed business last received a $100 million strategic investment from Shopify, per SEC filings. Months later, the business made its first acquisition ever by scooping up Napkin.io, a tool that gives developers a more seamless way to deploy code from their browsers.
Today, though, the picture of clear growth is challenged, or at the very least, set in new context. It’s unclear if the company is going to instill a hiring freeze as well, but it still has 65 open job listings on its careers page.
If you have a juicy tip or lead about happenings in the venture world, you can reach Natasha Mascarenhas on Twitter @nmasc_ or on Signal at +1 925 271 0912. Anonymity requests will be respected.
Klaviyo conducts company-wide layoffs by Natasha Mascarenhas originally published on TechCrunch
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