From The Next Web · Alina Maria Stan · · 1m 10s
Squarespace cuts 300 jobs as private company
The website builder lays off 19% of staff two years after going private, citing need to adapt its operating model.
In brief
The website builder lays off 19% of staff two years after going private, citing need to adapt its operating model. Squarespace laid off about 300 people, 19% of its 1,800-person workforce, to streamline operations after its private equity buyout. Originally reported by The Next Web.
Squarespace cuts 300 jobs
Squarespace is laying off 19% of its workforce, about 300 people. The website builder has about 1,800 employees worldwide. Most cuts hit product and engineering teams.
CEO explains the restructuring
Chief executive Anthony Casalena said the company must adapt for the modern era. "The way we need to work is changing faster than at any point in our history," he wrote in a memo.
“The way we need to work is changing faster than at any point in our history”
Severance and support for departing staff
Those leaving receive at least 16 weeks of base pay, with extra weeks based on tenure, and benefits running until May 2027. They keep company laptops and staff on work visas get continued support.
Layoffs follow private equity buyout
Squarespace went private two years ago when Permira bought it for 6.9 billion dollars in May 2024, completing the deal at about 7.2 billion dollars in October.
The one thing
Squarespace laid off about 300 people, 19% of its 1,800-person workforce, to streamline operations after its private equity buyout.
