Confluent Inc. is cutting 8% of its staff and is reportedly losing its chief revenue officer. The Mountain View company announced the layoffs Thursday in a filing with the Securities and Exchange Commission. The provider of data management software is making the cuts which amount to about 220 workers to help it reach profitability more quickly, co-founder and CEO Jay Kreps said in a letter to employees it also filed with the SEC.
Due to economic uncertainty, it’s taking longer for the company to close sales, so its growth is slowing, Kreps said in his letter. At the same time, it’s under increasing pressure to stem its losses, he said.
“To many, I’m sure this news (of the layoffs) comes as a shock, though those following the broader tech ecosystem closely may be less surprised,” Kreps said. “Ultimately, we had optimized some aspects of our operations for a very different world than we found ourselves operating in,” he continued. “The responsibility for that falls squarely on me.”