AM I NEXT? NO LOVE AT HUBSPOT

Cambridge, Massachusetts-based HubSpot, a developer, and marketer of software products for inbound marketing, sales, and customer service, has announced a cost-cutting initiative leading to the relocation of the company's Cambridge, Massachusetts, headquarters, closure of its Davenport Building office space, and a major reduction in the company's workforce.

Approximately 500 employees, or 7% of the workforce, are targeted for separation.

CEO Yamini Rangan noted, "Our business boomed throughout the pandemic, but in 2022, things took a downward turn. We came into 2022 anticipating growth would slow down from 2021, but we experienced a faster deceleration than we expected." Including a perfect storm of inflation, volatile foreign exchange, tighter customer budgets, and longer decision-making cycles."

"We were optimistic about our headcount growth and underestimated the impact of the slowdown in 2022. Unfortunately, the level of uncertainty in customer demand now tells us that we may have more challenging times ahead. We need to set ourselves up to weather this storm."

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?

AM I NEXT? NO LOVE AT PEGASYSTEMS

SEPTEMBER 16, 2023 — 240 EMPLOYEES TO BE LAID OFF

In the second 4% job cut this year, the company has announced it’s laying off 4% of its workforce, or 240 employees as it reorganizes customer success roles.

According to the company, "These will be go-to-market roles in order to simplify our client engagement approach and better support our business strategy. The workforce reductions are part of the company's goal to improve its go-to-market operating model.

JANUARY 18, 2023 — Original post…

Cambridge, Massachusetts-based Pegasystems, a software developer specializing in customer relationship management and business process management, has announced a reduction in force.

The planned personnel alignment will impact approximately 4% of the company's workforce, an estimated 245 employees.

According to a company spokesperson, the company is "engaged in a detailed review to further improve our go-to-market operating model, drive role clarity and accountability, enable greater efficiency, and sharpen our client focus."

"We, like many others, are operating in a volatile business environment and need to adapt and manage our business accordingly to best support our clients, shareholders, and employees."

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?

AM I NEXT? NO LOVE AT PLAID

San Francisco, California Plaid, a financial technology company and the developers of an application programming interface to integrate and get transactional and account data from various financial institutions, has announced a 20% reduction in its workforce.

The reduction will impact 260 employees, primarily in the recruiting teams and support services. It is unknown how many software engineers are at risk.

According to Plaid CEO Zach Perret, “Our pace of cost growth outstripped our pace of revenue growth. I made the decision to hire and invest ahead of revenue growth, and the current economic slowdown has meant that this revenue growth did not materialize as quickly as expected.”

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?