LivePerson, the customer engagement solutions company based out of New York is the recent one to announce a round of layoffs impacting around 11% of its overall workforce.
This move will reduce the workforce by 11% ~ around 193 employees of their overall headcount of 1,687. In a company-wide email statement CEO, Robert LoCascio mentioned.
Yesterday, we announced a strategic reorganization to realign the business to better serve customers and ensure Live Person’s long-term financial success. As summarized in GRO EVP Manlio Carrelli’s email below, we have decided to consolidate the GRO (Global Revenue Org) and GSO (Global Service Org) teams, returning to one Global Revenue Organization. Some changes were also made in the GPT (Global Product & Technology) and G&A (General & Administrative) teams.
Approximately, 193 people out of our 1,687 were let go and I know for those people, and the 1,400 people that are here today, this has a significant and emotional impact. There were two other times over our 26 years that we had to restructure the company, once during the dotcom and then when we made a pivot from being a chat company to messaging/Al and each time we became a stronger and better company. This restructuring will mean different things for different people, but the main goal is to ensure that the “whole” of the company continues the pursuit of its long-term vision. This restructuring was critical to ensure that we are in a healthy position as we now have a clear line of sight to generating strong operating margins and cash flow. Live Person got here because for over twenty years, we generated cash flow and had a healthy business model. At the end of 2021, we heavily invested and ramped up our teams with the understanding at that time that the demand we saw during Covid would continue. However, what we are seeing now is more of a return to normal patterns of growth and we are course correcting accordingly.