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Video collaboration startup Loom announces layoffs

Loom, a collaboration startup that sells software for asynchronous video communication, has laid off staff, citing cost reductions amid economic headwinds.

According to sources cited by TechCrunch, the company laid off 34 employees, which amounts to 14% of its workforce. Loom confirmed to Computerworld the number of staff laid off and provided the following statement from 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.

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Source:: Computerworld