Foursquare, a renowned platform of the Web 2.0 era that allowed users to check in at different locations, has transformed its business model by providing location coordinates data for corporate clients. In 2020, the company joined forces with Factual, a leading technology company, and announced plans to lay off employees.
CEO Gary Little sent an email notifying the termination of 105 employees to enhance the company’s financial stability. The unofficial figures suggest that this accounts for approximately 25% of the total workforce. The impacted departments include Visits, OCF, and Foursquare City Guide. Additionally, the company has also suspended multiple new projects still in development.
Source: TechCrunch
TLDR: Foursquare shifts focus to corporate services, partners with Factual, and announces employee layoffs for financial stability.
Leave a Comment