Lattice, an HR software company, is laying off approximately 15% of its workforce as part of a reorganization to adapt to changing economic conditions. CEO Jack Altman announced the difficult decision, citing that while revenue has grown fivefold since the pandemic, costs increased even more in anticipation of continued rapid growth that now seems unlikely. The shift from a low-interest-rate environment in 2020-2021 to a 2023 landscape where customers are cutting spending has forced Lattice to prioritize efficiency over expansion. This restructuring means the company will maintain a relatively flat headcount for FY'24, moving away from previous aggressive hiring practices to build a more sustainable business focused on long-term strategy and customer experience.
