In January 2023, Glisser, a prominent event technology firm, announced it would go into administration, affecting 25 employees. Known for its award-winning platform for virtual and hybrid meetings, Glisser's decision reflects broader industry challenges. This article delves into what happened, why it occurred, and the potential future impact on the industry.
Glisser's decision to lay off employees was driven by a combination of economic pressures and shifts in industry demands. As live events began to return post-pandemic, the demand for virtual event platforms, which had surged during the height of COVID-19, started to wane. This shift significantly impacted Glisser and other companies in the sector, such as Hopin, Bizzabo, and Hubilo, leading to widespread layoffs. Michael Piddock, Glisser's founder, highlighted the tough economic conditions and the challenges in securing a buyer for the broader business, despite finding one for their platform. These factors necessitated difficult decisions to ensure the company's survival and to support the transition of their 25 employees into new roles.
Due to the company's reasons, we can infer that Glisser aims to reduce costs and adapt to changing market conditions caused by the pandemic. Post-layoffs, Glisser is realigning its investments to better suit the current needs of the business and optimize for continued growth.
The layoffs are expected to result in significant cost savings for Glisser, which will help stabilize its financial health in the short term. By reducing operational expenses, the company can focus on maintaining its core platform for virtual and hybrid meetings, which has already found a buyer. This strategic adjustment allows Glisser to concentrate on its most valuable asset, potentially positioning it for a more sustainable future.
Glisser's layoffs are likely to ripple through the travel industry, particularly affecting business travel and event planning. As companies like Glisser scale back, the demand for virtual and hybrid meeting solutions may decline, prompting a resurgence in face-to-face meetings and conferences. This shift could lead to increased bookings for hotels, airlines, and event venues, revitalizing sectors that suffered during the pandemic. However, the transition may also strain resources as businesses adapt to the renewed emphasis on in-person interactions, potentially driving up costs and logistical challenges in the short term.
Glisser's layoffs stemmed from economic pressures and a shift back to live events post-pandemic. These cuts aim to reduce costs and stabilize finances, allowing a focus on their core platform. The layoffs may boost in-person meetings, impacting travel and event planning sectors. Glisser's future hinges on adapting to market changes, potentially leading to a more sustainable business model. The broader market might see a resurgence in face-to-face interactions, driving up demand for related services.
