Posted on: June 24, 2022 by Administration Staff - Page Views: 356
With the fears of the coming recession and the rising inflation levels all over the world, tech companies are already making cuts. Many of the financial analysts are considering that recession is unavoidable at this point. This month, a few wordpress based companies announced lay offs. One of them is Elementor, the Israeli based wordpress company, has announced laying off 15% of its work force.
Co-founder of Elementor, Yoni Luksenberg has announced the lay offs through a statement. The boss’s statement was:
“Today, we make the difficult decision to say goodbye to some of our colleagues. We are in a changing global situation with rising inflation and a pending recession. To ensure the efficiency and effectiveness of our business, we are restructuring and optimizing our workforce, becoming more efficient in certain areas and continuing to grow our product offerings, to secure the company’s long-term success, growth and business goals as we plan for 2023 and beyond.”
At this point the vast majority of people that are getting layoff will be in the marketing department. They say that the technical department and programmers will not be affected by this. Elementor is a company that has raised a total of 65M US dollars accros three funding rounds. The first round was in 2017.
The layoffs at elementor , are very similar to whats happening for other major technology companies. Other companies making layoffs this year: Tesla, Coinbase, Netflix and other smaller ones. Also another wordpress company is doing sone layoffs. That company is Envato, an australian based company, which will layoff 100 of its 700 employees.