CEO Ashnul Ruparell wrote a letter to the company's employees that read,"I am accountable for the decision to expand our team to support a level of scale and growth that is now clear will not materialize in the forseeable future."wrote in a letter to its employees that,"we expect several tech companies in our space to run out of capital over the next 12 to 18 months." The company laid off 34 employees, comprising 19 per cent of its workforce.
The wound care management company's senior talent acquisition partner shared the devastating news in a , writing"for the past few months, I have been a nervous spectator of the layoffs in the tech community...hoping and praying we weather these storms!"
Good time for tech companies to trim the fat, especially in marketing.