Navan

Navan, a travel and expense management startup, has laid off approximately 145 employees, representing 5% of its global workforce of over 2,900 people. The cuts affected teams across various departments as part of the company's efforts to streamline operations and achieve profitability ahead of its planned initial public offering next year. This move reflects broader industry trends where tech startups are adjusting their strategies to strengthen financial performance in preparation for public market scrutiny.

Navan, an expense management startup formerly known as TripActions, has laid off 5% of its staff, or 145 employees, as part of a restructuring effort to move faster toward profitability ahead of a delayed IPO. The company, based in Palo Alto, California, has seen strong growth in recent years and is refocusing on operational efficiencies while competing with rivals like Ramp and Brex.