Samsara, a San Francisco-based company specializing in internet-connected sensors for industrial operations, laid off 300 employees yesterday, representing 18% of its workforce across all departments. The layoffs are attributed to the economic downturn, with the company also raising $400 million at a reduced valuation of $5.4 billion, down from $6.3 billion in September. To further cut costs, Samsara is reducing executive salaries by 30% for the remainder of the year, limiting non-essential spending, and implementing a six-month hiring freeze. In a supportive move, the company has established a talent directory to assist affected employees in finding new opportunities.
