MarketingIN

Airmeet Layoffs

March 2024

Airmeet announced a layoff affecting 0 employees (20% of its workforce) in March 2024. The company operates in the Marketing sector.

People Affected

Percentage

20%

Announced Date

Mar 19, 2024

About

Airmeet, a Prosus-backed virtual events platform, has laid off approximately 20% of its workforce this week, marking its second major restructuring within a year. This follows a previous round in May 2023, when the company let go of about 30% of its then 250-300 employees. The latest cuts impact various departments, with the tech team being the hardest hit. CEO Lalit Mangal stated the move shifts resource allocation from aggressive R&D investments toward go-to-market (GTM) strategies, aiming for financially healthy growth after achieving product maturity. Founded in 2019, Airmeet operates in the enterprise tech industry and has raised around $50 million in funding, serving clients like Ford and Unilever.