Hologram lays off 40% Workforce – 80+ Employees

Hologram, the IOT startup based out of Chicago is the recent one to announce layoffs across the organization.

The Chicago based company has decided to let go of 40% off its workforce earlier today, around 80 employees.

Coming to the financials, the company had closed a series b funding round off $65 million lead by tiger global which body total funding to $80 million since its launch in 2014.

The layoff news comes as a shock after the company announced in late 2021 that it was aiming to triple its team after its series B raise. Hologram had also moved into a new luxe office space in Fulton market, Chicago.

In an internal memo CEO and co-founder of hologram – Ben forgan announced that the company was letting go off 40% of its employees while mentioning the company was looking into organizational restructuring.

Large number of affected hologram employees have taken to professional networking site LinkedIn to share their story.

Hologram as a business model provides a platform to connect IoT devices to any cellular network across the globe and offers a platform called hologram hyper to monitor its IOT fleet.

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