New York, New York-based LivePerson, a technology platform offering customer engagement solutions using artificial intelligence-driven automated messaging and voice-enabled applications, has announced a strategic reorganization leading to a reduction in force.
The reduction in force will impact 193 employees or approximately 11% of the workforce.
CEO, Robert LoCascio, noted "Yesterday, we announced a strategic reorganization to realign the business to better serve customers and ensure Live Person’s long-term financial success. 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/AI, 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."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?