Foursquare Layoffs: US-Based Tech Company Cuts 25% of Its Workforce To Streamline Its Operations and Achieve Financial Sustainability
Foursquare, a US-based geospatial platform announced laid off 25% of its workforce to streamline operations and achieve financial sustainability. The Foursquare layoffs reportedly affected 105 employees.
California, May 27: Foursquare Labs, Inc., a US-based local search-and-discovery슬롯 머신 사이트 추천mobile app developer, has laid off 25% of its total workforce.슬롯 머신 사이트 추천The Foursquare슬롯 머신 사이트 추천CEO emailed the employees and슬롯 머신 사이트 추천mentioned that the company would "streamline" its operations and cut some roles to achieve financial sustainability. The Foursquare layoffs were implemented to help the슬롯 머신 사이트 추천company to be on the path of more financial sustainability.
TechCrunch슬롯 머신 사이트 추천슬롯 머신 사이트 추천that슬롯 머신 사이트 추천Foursquare CEO Gary Little emailed the슬롯 머신 사이트 추천staffers and informed슬롯 머신 사이트 추천them about the슬롯 머신 사이트 추천job cuts.슬롯 머신 사이트 추천The employees impacted by the tech layoffs슬롯 머신 사이트 추천by Foursquare슬롯 머신 사이트 추천found that they were removed from슬롯 머신 사이트 추천accessing the슬롯 머신 사이트 추천company's system.슬롯 머신 사이트 추천The report mentioned that the CEO did not comment on the Foursquare layoffs.슬롯 머신 사이트 추천Paytm Layoffs: Fintech Major To Lay Off 5,000 to 6,300 Employees, Plans To Use AI To Reduce Costs, Says Report
According to the report, the letter sent to the슬롯 머신 사이트 추천employees슬롯 머신 사이트 추천did not mention the tech슬롯 머신 사이트 추천company's future plans. The layoffs at Foursquare슬롯 머신 사이트 추천affected 25% of the슬롯 머신 사이트 추천workforce, about 105 employees, said the report.슬롯 머신 사이트 추천However, the슬롯 머신 사이트 추천company mentioned which units were impacted by the슬롯 머신 사이트 추천workforce reduction.슬롯 머신 사이트 추천Foursquare laid off employees from the슬롯 머신 사이트 추천Foursquare City Guide, Visits, and OCF.
The report said that Foursquare CEO Gary슬롯 머신 사이트 추천Little mentioned in his슬롯 머신 사이트 추천layoff letter that the company슬롯 머신 사이트 추천would pause its work on many initiatives. He said these initiatives would include슬롯 머신 사이트 추천Mobile Developers Tools, Geode슬롯 머신 사이트 추천and the current version of FSQ insights.슬롯 머신 사이트 추천According to the report, the Foursquare layoffs were not the슬롯 머신 사이트 추천first슬롯 머신 사이트 추천hit, as the company laid off multiple employees at the time of the merger with Factual. Another round of슬롯 머신 사이트 추천Foursquare job cuts was reported in 2022.슬롯 머신 사이트 추천Media Matters Layoffs: American Journalism Group Lays Off Around Dozen Employees Amid Elon Musk Legal Battle.
Gary슬롯 머신 사이트 추천Little became CEO of Foursquare in late 2020 after the merger. The report슬롯 머신 사이트 추천said that the financial슬롯 머신 사이트 추천deal's terms were not disclosed for this merger.슬롯 머신 사이트 추천The report also mentioned that Gary Little's previous company, Raine Group, a merchant bank, funded $150 million in Foursquare in 2019. Still, the슬롯 머신 사이트 추천company has not revealed the next funding round since then.슬롯 머신 사이트 추천According to the report, the tech company had raised an estimated $400 million over the years.
(The above story first appeared on LatestLY on May 27, 2024 09:54 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).