Pitch

In January 2024, Berlin-based startup Pitch, the company behind collaborative presentation software, underwent a major restructuring. The company laid off approximately 80 employees, which represented about two-thirds of its workforce, reducing headcount from around 120. Co-founder and CEO Christian Reber stepped down, with CTO Adam Renklint taking over as the new CEO. The layoffs and leadership change were part of a strategic shift to abandon its previous hyper-growth, venture-backed model. Facing the challenging economic climate for startups in 2023 and acknowledging that expectations had become unsustainable, Pitch decided to reset its company and cap table with investors. The firm is now focusing on bootstrapping, pursuing profitability, and aiming for organic growth instead. Pitch had raised over $130 million from notable investors prior to this pivot.

Pitch, a presentation software company, laid off 59 employees, representing 30% of its team, as part of a strategic shift to navigate the economic downturn. The layoffs were announced by CEO Christian Reber, who expressed deep regret over parting ways with what he described as incredibly gifted individuals. Affected staff will receive pay and have their shares continue to vest until the end of the year. The company, operating in the tech industry, made this difficult decision to adjust its strategy amid broader economic challenges, highlighting the impact of market conditions on startups.