Airtable, a low-code platform for building collaborative apps, has laid off more than 250 employees or 20 per cent of its workforce across business development, engineering and other teams.
TechCrunch reported that the impacted employees will get at least 16 weeks of severance pay, accelerated equity vesting and support from an immigration counsel if on visa.
“We’ve rapidly expanded and executed on multiple fronts. At the time, I believed we could successfully pursue all of them in parallel,” said Airtable founder and CEO Howie Liu in an email to employees.
“However, in taking a hard look at our efforts in the current market environment, we’ve identified the teams best positioned to capture the opportunity in enterprise in order to bring complete focus, alignment and accountability in our execution,” Liu added.
Ironically, the same company recently offered laid-off workers jobs via its platform.
Liu said Airtable is “well capitalised” and added that “being a lean organisation becomes doubly important in times of economic uncertainty”.
As part of the layoffs, key executives like chief revenue officer, chief people officer and chief product officer also are no longer with Airtable which was last valued at $11 billion.
The company’s software allows businesses to put together databases and spreadsheets on the cloud without using code.