Permutive Layoffs
August 2022
Permutive announced a layoff affecting 30 employees (12% of its workforce) in August 2022. The company operates in the Marketing sector.
30
12%
Aug 10, 2022
About
SoftBank-backed adtech startup Permutive has laid off 30 employees, representing about 15% of its workforce, as economic concerns impact advertising spending and venture capital funding. The layoffs, which occurred across various departments including engineering and marketing, were attributed to over-hiring ahead of revenue. CEO Joe Root noted that the company had paused hiring in June, following similar moves by major tech firms like Google and Facebook in response to slowing ad spend. This reduction is part of a broader trend of tech industry layoffs amid a global economic downturn. Founded in 2015, Permutive provides data software for publishers and has raised $105 million in funding, including a round led by SoftBank's Vision Fund 2.
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