San Francisco, California-based Motive, a provider of fleet management services, has announced a 6% reduction in its workforce.
The reduction in force will impact 237 employees.
According to CEO Shoaib Makani, “While the majority of our investment was well placed, it’s now clear that we over-hired in certain areas. Our small and medium-sized business (SMB) segment experienced rapid growth over the past two years, and we scaled our SMB sales team in line. However recently the market shifted. Fuel prices are up sharply, the cost of capital has increased, and demand is contracting.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?