Pana Layoffs
April 2020
Pana announced a layoff affecting 18 employees in April 2020. The company operates in the Travel sector.
18
Apr 1, 2020
About
Denver-based travel startup Pana laid off 18 employees last week due to the severe impact of the COVID-19 pandemic on its core business travel services. CEO Devon Tivona acknowledged the difficulty in predicting the crisis's duration, leading the company to make painful cuts to ensure survival amid uncertainty. While the exact remaining headcount wasn't disclosed, Pana had previously aimed to grow to 60 employees by the end of 2019 after raising $10 million in funding. The layoffs were accompanied by pay cuts of 10-30% for remaining staff, including reduced salaries for the founders. Founded in 2014, Pana provides business travel coordination and logistics through its app, but the pandemic's disruption to corporate travel forced this restructuring to secure the company's future over the next two years.
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