More startup layoffs: Automox reduces workforce by 11%

Shopify
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Go to company page Shopify

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Apr 13 9 Comments

I saw affected employees posting about it on LinkedIn

#layoffs

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TOP 9 Comments
  • Enova
    dumb_ukr

    Go to company page Enova

    dumb_ukr
    Based on one post, it looks like their runway is running short after their insane hiring spree. It's definitely not a good time to be running low on cash.
    Apr 14 1
    • Automox
      lBjk60

      Automox

      lBjk60
      Used to work there. They hired way too fast and nothing was accomplished because it was so disorganized. I saw the layoffs post and it didn’t shock me tbh. They claimed to be pre ipo when most of the hiring happened but at this point I think the layoffs were done to be sold to PE or a competitor.
      Apr 15
  • New
    arispqr

    New

    arispqr
    It’s been almost a year since their 110MM series C so I was expecting some sort of news around this time. Their headcount growth over the last year seemed unsustainable, and looks like they’re realizing this. Security Industry has been seeing high valuations, but Automox seems to be a quiet company and maybe not nailing their PMF. Seems like execs are inexperienced when it comes to growth at all costs playbook and playing with the big dogs.

    What do you think is next? Series D or sale? Series D could be a down round at this point given overall market conditions.
    Apr 15 5
    • New
      arispqr

      New

      arispqr
      Yes, 16 of the 19 open positions are sales related, so their strategy is sell, sell, sell. Which is somewhat odd given their product should really sell itself if it’s built properly. A small sales team and some BD / enterprise reps should be sufficient. Should be an engineering-first company IMO.
      Apr 18
    • Automox
      anfR35

      Automox

      anfR35
      Yeah I was impacted by layoffs. I wonder if there is a way to know startups success from before. Which companies are safe to join with impending recession coming.
      Apr 29
  • Automox
    nyvJ87

    Automox

    nyvJ87
    They/we hired too many people too fast, 1000% growth at all cost came with its challenges.

    Bunch of new execs are in and made dramatic changes including this layoff
    Apr 15 0