Envato the online marketplace for design elements is the recent one to add to the long list of companies with layoffs.
The company’s CEO Hichame Assi confirmed in a statement that 100+ employees globally have been impacted by these layoffs, which is close to 18% of its total workforce.
Hichame goes on to mention that “Some teams have been restructured, some roles reshaped and others made redundant as it works on updating our focus areas and winding down some of our ancillary products”
Layoffs at Envato have arrived as significant economic volatility and changing market sentiments batter the fortunes of tech firms at home and abroad.
Founded by married duo Collis and Cyan Ta’eed in 2006, Envato offers creatives and web designers access to digital assets and templates through its suite of marketplaces and subscription services.