The maker of the popular meditation and wellness app Calm is cutting about 20% of its staff, the company said Thursday
Calm.com Inc., maker of popular meditation and wellness app Calm, has laid off 20% of its staff, according to a memo sent by Chief Executive David Ko to employees on Thursday.
In the memo, Mr. Ko wrote that Calm leadership had “revisited the investment thesis behind every project” before deciding to make changes that would help stabilize the business. Mr. Ko’s memo didn’t elaborate on the reasons for the layoffs but promised employees “a more in-depth discussion on the future of the business” at an all-hands meeting scheduled for Friday. A Calm spokeswoman declined to make Mr. Ko available for an interview.One employee who was laid off said company leadership cited macroeconomic trends in explaining the layoffs and told employees that they had tried to reduce expenses in recent months to avoid cutting staff.
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