AvantStay Layoffs
November 2022
AvantStay announced a layoff affecting 144 employees (22% of its workforce) in November 2022. The company operates in the Travel sector.
144
22%
Nov 9, 2022
About
AvantStay, a Los Angeles-based next-generation hospitality platform, laid off 144 employees on November 9, 2022, representing 22% of its workforce. This marked the company's second round of layoffs in 2022, following 43 job cuts in July. Co-founders Sean Breuner and Reuben Doetsch attributed the difficult decision to over-hiring based on overly optimistic growth forecasts, noting they hired for four times growth but achieved three times, with over $200 million in bookable revenue. They cited operational inefficiencies and ballooning costs as key factors. The hospitality industry company provided severance, extended healthcare, career support, and other assistance to affected employees while focusing on controlled future growth.
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