MAY 13, 2024 — 25% REDUCTION IN FORCE
As part of a continuing cost reduction initiative, the company is targeting 25% of the company’s workforce for layoff.
Nextdoor CEO Sarah Friar noted, “This reduction in our team is the hardest decision we have had to make at Nextdoor. While our opportunity and belief in the transformative power of community remains unwavering, and our business is financially strong with a healthy balance sheet, we must follow through on our commitment to our shareholders. This means right-sizing our business and aligning our team and other expenses with our near-term revenue expectations. We expect that these actions will position us to reach quarterly free cash flow breakeven by the end of 2025.”
NOVEMBER 28, 2023 — Original post
San Francisco, California-based Nextdoor, a hyperlocal social networking service for neighborhoods, has announced a major cost reduction initiative that will result in management changes and a reduction in the workforce.
The reduction will impact 200 employees or 25% of the company's workforce.
According to CEO Sarah Friar, “This reduction in our team is the hardest decision we have had to make at Nextdoor. While our opportunity and belief in the transformative power of community remains unwavering, and our business is financially strong with a healthy balance sheet, we must follow through on our commitment to our shareholders. This means right-sizing our business and aligning our team and other expenses with our near-term revenue expectations.”
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?