Personio, a Munich-based HR tech unicorn, laid off 115 employees on November 7, 2024, affecting approximately 6% of its workforce. Founder and CEO Hanno Renner explained the decision in an open statement, citing that costs had grown disproportionately to revenue, necessitating significant savings. He described the layoffs as one of the toughest decisions of his career, taking full responsibility for the strategic missteps that led to this outcome. The company operates in the HR software industry and is considered a large-scale unicorn startup.
