Loom Layoffs 😢
One of my favourite products, yet succumbed to the market. sigh! https://6figr.com/layoffs/Loom
Well it rhymes with doom..so..
well, is Cisco annual pride parade scheduled yet? https://6figr.com/layoffs/Cisco-Systems
WTF is loom?? You write loom as if it's google and ppl would know what they do!
They’re a pretty widely known newcomer in the video communication space.
Loom? Damn didn’t they just fly out few ppl to Europe from the states?
Loom is a great product but my hunch, based on this news, is that they are struggling to monetize and move into the enterprise space to match their valuation. Need to cut costs to be more be more inline with the revenue
In the next two years, investment will go to large companies, so startups need to save cash. They're going to cut down most of our workforce and focus on increasing sales.
I find the above low performer argument rather silly & superficial especially given the market timing, if they're low performers they wouldn't have made through the selection/interviewing process. Now given they're qualified enough the cause rests on managers/management one who couldn't extract contribution by and large by not having clarity of work. lack of direction is evident from the term redundant. The other marginal case is that the interviewing process is in itself a joke, in that case has efforts been made to course correct? has the person who designed this poorly being fired yet, to make it evident to the org how seriously you take this? sidenote: In Japan, they fire the manager 1st coz its who failed in getting work done or inspire people enough.
Low performer has no place in a fast moving stattup. They will only weigh us down.
stattup!! yes please^
Were you laid off by any chance?
It was a shame to lose those people, but honestly I was not surprised by the list.
yeah, even we rest of employees ain't surprised by founders selling secondaries, getting rich. & starting a VC firm. For all the years we rallied behind, now with down valuations my stocks are worth 🥜
I think it’s just the right time for the companies to think about wtf are they actually about the product/service doing rather than chasing the valuation bandwagon
while I agree for others, loom was one of those which was a product delight to use &.superior engagements. If they're seeing this fate, troubles to imagine what is in store for others.