Loom, an enterprise collaboration video messaging service, has 34 employees, or 14% of the total workforce as per the recent announcement from the CEO. Employees across product teams and customer relations were most impacted.
Loom – the Silicon Valley company, which is backed bya16z was termed Unicorn in 2021 for its workplace SaaS.
Here is the statement from founder and CEO Joe Thomas –
We’ve had to make the extremely difficult decision to move forward with a reduction in force across our team. Each person impacted was not only a talented employee but also a valued individual and teammate. We’re committed to supporting these employees through this transition both in their offered severance as well as career support. We’re confident in the path ahead for Loom. This decision was ultimately made to ensure we’re able to move forward sustainably, especially in light of increased economic uncertainty, and continue to deliver on our vision for years to come.
About Loom – Loom is a work communication tool that enables its users to get a message across instantly shareable videos.