🌎 San Francisco Bay Area, Atlanta ∙ 👩 300 employees (18%) ∙ 🖥 All departments
Samsara, which makes Internet-connected sensors that help industrial companies optimize their operations, laid off 300 employees yesterday (18%). The company also raised $400 million at a lower valuation ($5.4 bn) than the one from its September raise ($6.3 bn).
Samsara blamed the economic downturn for its layoff without specifying details, though its down round suggests that the company was operating without enough cash to last through the pandemic.
Samsara is also implementing other cost-cutting measures such as slashing executive salaries by 30% for the rest of the year, cutting non-essential spending, and freezing hiring for 6 months.
Our live Layoffs Tracker has a real-time report of all startups that have done layoffs.