Austin, Texas-based BigCommerce Holdings, an e-commerce platform for small and medium-sized businesses, has announced a restructuring and cost-cutting initiative that will examine its organizational structure, real estate footprint, and personnel requirements to accelerate its path to profitability.
The cost-cutting initiative will impact its total workforce by approximately 13% across both employees and contractors. It is estimated that the reduction in force will impact 150 employees and be essentially complete by December 31, 2022.
According to company CEO Brent Bellm, “This focusing of our spending and resources, which impacts all of our teammates, was an incredibly difficult decision to make. We are implementing changes that will enhance the strength of our financial profile against the backdrop of a challenging economic environment. It will also drive focus on the areas we view as having the strongest product market advantage and best long-term financial performance. We are sadly parting ways with some incredibly talented people whom we have grown to cherish as friends and colleagues over the years. We will do our best to support them through the transition to find their next opportunities.”
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?