OtherUS
Electric Layoffs
August 2022
Electric announced a layoff affecting 81 employees in August 2022. The company operates in the Other sector.
People Affected
81
Announced Date
Aug 30, 2022
About
Electric, an IT and security management platform for small to medium businesses, laid off approximately 15% of its workforce in early 2023, affecting around 30 employees. The company, which had about 200 employees total, cited a need to streamline operations and extend its financial runway amid broader economic uncertainties in the tech industry. This restructuring reflects the challenges faced by many SaaS and IT service providers in adjusting to shifting market demands and prioritizing sustainable growth.
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