DataUS

SQream Layoffs

July 2022

SQream announced a layoff affecting 30 employees (18% of its workforce) in July 2022. The company operates in the Data sector.

People Affected

Percentage

18%

Announced Date

Jul 6, 2022

About

Data analytics startup SQream laid off 30 employees in July 2022, representing over 15% of its then 170-person workforce, with most cuts occurring in Israel. The company, founded in 2010, stated the layoffs were necessary to achieve a balanced bottom line and adapt to a challenging financial climate, reducing reliance on external funding. Facing competition from giants like Snowflake, Amazon, and Oracle, SQream aimed to focus on revenue generation from new and existing clients despite having a significant order pipeline. This move followed its acquisition of Panoply for an estimated $60-70 million in late 2021.