Katerra Layoffs
April 2020
Katerra announced a layoff affecting 240 employees (3% of its workforce) in April 2020. The company operates in the Construction sector.
240
3%
Apr 2, 2020
About
In April 2020, offsite construction technology company Katerra laid off approximately 240 employees, representing 3% of its then 8,000-strong global workforce, as the COVID-19 pandemic forced shutdowns across its operations. The Menlo Park-based firm also implemented salary cuts for higher-paid staff, with then-CEO Michael Marks reducing his own salary to zero. By July 2020, under new CEO Paal Kibsgaard, Katerra announced another round of layoffs, cutting over 400 employees or 7% of its workforce across functions like HR and engineering, as part of efforts to streamline cash flow and accelerate its path to profitability.
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