“We’ve made the very hard decision to reduce our headcount by about 14%, which will impact 66 Pie-oneers. This decision was made as part of our wider budget revision process that we have undertaken over the last few months,” Pie chief executive, John Swigart wrote in a message.
The message added that those who have been laid off will have a 2:1 meeting with a team leader and People Partner where they’ll walk through separation packages and answer any questions. “A Slack message will be posted in this channel confirming when all meeting invites have been sent so you will know if your role is being reduced,” the message noted.
In February, the company decided to revise its three-year plan to ensure that they reach profitability with the cash they have on hand.
“This February, in consultation with our board, we decided to revise our three-year plan to ensure that we reach profitability with the cash we have on hand. Over the past three months, Pie’s leadership team has been working on these revisions and ultimately identified over $25 million in annual expenses to eliminate from our budget,” Swigart said.
Those impacted will receive a comprehensive separation package, including severance pay and health benefits, plus the company will provide career placement and coaching services, and those leaving Pie will also keep all of their equipment.
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Meanwhile, US-based autonomous trucking company TuSimple has announced to lay off about 30% of its workforce globally as it works to preserve cash and stay in business.According to TuSimple, the company had about 550 employees in the US prior to the layoff, and after the reduction, it will have about 220 employees.
(With inputs from agencies)
