HubSpot Lays off 500 employees


Like many other tech employers, Cambridge-based HubSpot Inc. is eliminating hundreds of positions, citing a slowdown in business. It also plans to close its current Cambridge headquarters and move its remaining employees to a nearby building.

The Cambridge marketing tech firm (NYSE: HUBS) said on Tuesday it is cutting the size of its team by 7%, approximately 500 “HubSpotters.” A “lease consolidation” is included in HubSpot’s restructuring plan, which was approved by the board on Jan. 25.

Sophie Hamersley, a spokesperson for HubSpot, wrote in an email that HubSpot is closing its Davenport office space at 25 First St. and “consolidating employees” in its 2 Canal space.

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