Similarweb Layoffs
November 2022
Similarweb announced a layoff affecting 120 employees (10% of its workforce) in November 2022. The company operates in the Other sector.
120
10%
Nov 16, 2022
About
In November 2022, Israeli web analytics firm SimilarWeb announced a workforce reduction of 10%, laying off 120 employees from its total of 1,250. The company, which provides a platform for measuring and predicting web user behavior, cited a deteriorating economic environment as the reason. CEO Or Offer explained that after rapid growth during the pandemic, anticipated conditions for 2022 had worsened, with inflation, interest rate hikes, and potential recession impacting the global economy. To accelerate its path to positive cash flow in 2023, SimilarWeb adjusted its cost structure, leading to this difficult decision. The layoffs occurred as the company reported a 41% year-over-year revenue increase to $50 million for Q3 2022, alongside a growing operating loss.
Related Events
More Other Layoffs
Report an Error
If you find incorrect information, please let us know so we can correct it.
support@layoffs.nl