Santa Barbara, California-based impact.com, an online platform provider of collaborative services to the marketing industry, has announced a 10% reduction in its workforce.
The decision was driven by declining market conditions as marketing budgets are pared back to meet recession-driven market shifts.
David A. Yovanno, CEO, and Per Pettersen, Co-Founder of impact.com, commented,
“It is with sad hearts that we inform you that we’ve had to make organizational changes and reduce the staffing level of the company. We developed a very ambitious plan for impact.com at the start of this year based on both our vision for the business as well as what the market was rewarding at the time".
“Halfway through our fiscal year now, it is very clear that macroeconomic conditions have changed in a once-in-a-generation way; therefore, we must change how we are operating the business going forward if we are to fully realize our vision of becoming the global standard platform for partnerships."
We took multiple measures first — from significantly slowing hiring, reducing discretionary and overhead expenses, and limiting travel, along with a 15% pay cut for executive leadership — however, all of these reductions were not able to fully counterbalance the worsening market conditions. We do not take the idea of layoffs lightly; however, unfortunately, we could no longer avoid it. As we’ve all seen, what impact.com is experiencing is not unique. These conditions will affect or are affecting, every e-commerce business and the ecosystem that surrounds it, as many news outlets have already reported."
"impact.com will weather this storm and come out on the other side by focusing on our clients and core business priorities. To those leaving us this week, we want to say thank you and we appreciate your contributions toward making impact.com what it is today. Thank you for making impact.com a special place that has that ‘thing;’ a company that we are proud to be part of every single day. Our story is extraordinary because all of our employees, past and present, have contributed to it."
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?