Barkon recently laid off 126 employees, representing 0.12% of its workforce, on February 9, 2023.
Headquartered in New York City, Barkon operates in the retail industry. The layoffs are part of a broader restructuring effort to streamline operations and improve financial stability.
Bark decided to lay off 126 employees to better align its cost structure with the current macroeconomic environment and BARK’s strategic priorities. This move aims to improve efficiency and further accelerate the path to sustainable profitability.
“Over the past few months, we conducted a comprehensive review of the business with the goal of streamlining our cost structure, improving our operational effectiveness, and further accelerating our path toward sustainable profitability. As a result, we decided to reduce our headcount and curtail the use of certain contracts with third-party vendors,” continued Mr. Meeker. “Decisions like this are never easy because they impact people—our colleagues and friends—who have worked hard to support BARK and its customers. To the employees affected, I am truly grateful for your contributions and dedication. With that said, we do believe that today’s announcement is the right decision for the business and will better enable us to navigate the challenging macroeconomic environment and focus on our highest priorities.”
This statement from Matt Meeker, Co-Founder and Chief Executive Officer, underscores the difficult but necessary steps BARK is taking to ensure long-term sustainability. The layoffs are part of a broader cost reduction initiative aimed at saving approximately $12 million annually. By streamlining operations and focusing on strategic priorities, BARK aims to better navigate the current economic challenges and position itself for future growth.
The reduction of 126 employees at Bark has significantly impacted its workforce, particularly in the marketing and customer service departments. This downsizing is expected to streamline operations but may also lead to increased workloads for the remaining staff.
In the retail industry, Bark is not alone in announcing layoffs. Companies like Amazon and Walmart have also recently reduced their workforce to adapt to changing market conditions and economic pressures.
The layoffs at Bark signify a pivotal moment for the company, marking a shift towards a leaner, more focused operational model. This restructuring is expected to position Bark for long-term growth and resilience in a challenging economic landscape.
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