Handshake, a San Francisco-based career platform for students and professionals, is laying off 15% of its workforce as part of a major strategic shift to focus on its rapidly growing AI business. The company, valued at $3.5 billion, is "refounding" itself around this new direction, which CEO Garrett Lord believes is critical to its future. The AI division has grown from 15 to 150 employees in just eight months, reaching a $100 million annualized revenue run rate. This restructuring, announced in October 2025, comes as Handshake expects its AI operations to surpass its core recruiting business by the end of the year, aiming to double its combined annual recurring revenue to a forecasted $300 million.
