Podium, a $3 billion customer-management startup based in Lehi, Utah, laid off 12% of its workforce on Thursday, December 1, 2022. With approximately 1,300 employees prior to the cuts, this reduction affected around 156 people. The company, which helps businesses communicate with customers, cited an uncertain macroeconomic environment, overhiring, and underperforming sales and customer experience decisions made earlier in the year. Amid a broader wave of tech layoffs and reduced venture capital funding, Podium is also extending its hiring slowdown, subleasing office space, and cutting software and perk expenses to control costs. Affected employees received six weeks of severance and healthcare coverage through January.
