WHOOP

Wearable fitness technology company Whoop has laid off 4% of its corporate workforce, primarily affecting its enterprise sales team known as Whoop Unite. This strategic reduction, announced in January 2023, marks the startup's second round of layoffs within just six months as it aims to sharpen its business focus. The cuts reflect broader industry trends, with many tech companies scaling back after a period of rapid growth. Founded in 2011 and backed by SoftBank's Vision Fund, Whoop had achieved a $3.6 billion valuation in 2021 and had recently expanded its target market from individual consumers and athletes to include enterprise clients.

In July 2022, wearable fitness technology company WHOOP, valued at $3.6 billion, laid off 15% of its workforce, impacting over 90 employees from its then 630-person team. The cuts affected every department and level, driven by a challenging macroeconomic environment that prompted the company to reduce burn rate and ensure long-term durability. WHOOP, known for its high-tech fitness trackers endorsed by elite athletes, provided competitive separation packages and support for stock options to those affected, aiming to position the business more strongly amid market uncertainties.