Hopin Layoffs
February 2022
Hopin announced a layoff affecting 138 employees (12% of its workforce) in February 2022. The company operates in the Other sector.
138
12%
Feb 10, 2022
About
In February 2022, virtual events platform Hopin laid off 138 full-time employees, representing 12% of its staff, along with some contractors. The venture-backed unicorn, which had grown rapidly during the pandemic and completed several acquisitions including a $250 million purchase of StreamYard in 2021, cited a need for greater efficiency and sustainable growth. CEO Johnny Boufarhat explained the cuts aimed to address overlaps and duplications that emerged from its fast expansion, marking a shift from its previous aggressive scaling and a $400 million raise at a $5.65 billion valuation just months earlier. The company provided severance, benefits, and job-hunting support to affected employees.
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