Airtable, the data analysis spreadsheet software manufacturer, has recently announced the layoff of 237 employees, which accounts for 27% of their total workforce. This move is aimed at reducing costs and improving the company’s cash flow. In December 2022, Airtable had already laid off 254 employees, and this recent round of layoffs further adds to the ongoing downsizing.
Howie Liu, the founder and CEO of Airtable, revealed in an interview with Forbes that the company’s future direction will focus more on enterprise customers. The overall industry landscape emphasizes sustainable growth and profitability, rather than just growth at the expense of losses. Despite the company’s rapid expansion and increased hiring fueled by easy funding during the booming market of 2021, Airtable had to readjust its business strategy and shift towards a higher emphasis on larger million-dollar deals, instead of pursuing numerous smaller deals.
TLDR: Airtable, the software company known for its data analysis spreadsheet, has recently laid off 237 employees, making up 27% of their workforce. This move is aimed at cutting costs and improving the company’s cash flow. CEO Howie Liu stated in an interview that Airtable’s future will focus on larger enterprise customers, shifting away from chasing smaller deals.