Namely, a New York City and Atlanta-based HR and payroll software company, laid off 110 employees earlier this month, representing about 40% of its workforce. The layoffs affected all departments, including brokerage, client operations, go-to-market, and product/engineering teams. The company cited the economic impact of the pandemic, as its small and medium-sized business customers have been downsizing, leading to reduced revenue for Namely, which operates on a per-employee monthly fee model.
