On April 20, 2023, Gloaton laid off 35 employees, representing 0.12% of its workforce. This move has raised questions about the company's future direction.
Headquartered in New York City, Gloaton operates in the HR industry. The layoffs come amid broader industry challenges and evolving market conditions.
Gloat decided to lay off 35 employees due to the state of the market and the economy over the past year. The company emphasized the need to adapt to current market forecasts to ensure long-term value for its customers.
"In light of the state of the market and the economy over the past year and after much thought, we are taking the responsible action out of commitment to our mission and our customers. Gloat is parting ways with a number of people in Israel and the world in order to adapt to the forecasts that exist today in the market and to ensure we continue to provide value to customers for many years to come. This is not a decision that was taken lightly, and we are all full of appreciation and gratitude for the professional and personal contribution of each and every one of these employees. We are committed to helping them going forward, and will continue to support the values of transparency, fairness, inclusion and respect towards all the company's employees."
Gloat's statement underscores the company's commitment to its mission and customers, despite the difficult decision to lay off employees. The layoffs are a strategic move to align with current market forecasts and ensure long-term value delivery. The company also expressed deep appreciation for the contributions of the affected employees and pledged ongoing support for them.
The reduction of 35 employees at Gloat has inevitably impacted its workforce, particularly in departments such as customer support and product development. This downsizing may lead to increased workloads for remaining staff and potential delays in project timelines.
In the broader HR industry, Gloat is not alone in facing these challenges. Companies like Workday and ADP have also announced layoffs recently, reflecting a trend of cost-cutting measures amid economic uncertainty.
The layoffs at Gloat signify a strategic pivot to ensure sustainability and resilience in a fluctuating market. Moving forward, the company is focusing on several key areas to navigate these changes.
Sunset helps startups wind down by handling all legal, tax, and operational burdens, allowing founders to move on quickly and efficiently. For personalized guidance and support, contact us to schedule a consultation or learn more. Sign up today and try it out!
