Asana is the latest in a long line of technology companies slashing its workforce amidst the global economic upheaval.
The work management software provider announced yesterday it was axing 9 per cent of its global workforce in order to cut operating expenses.
The company’s chief operating officer (COO), Anne Raimondi, took to LinkedIn on Tuesday to announce that the company was reducing the size of its global workforce, estimated to be over 1,600 employees.
“Today, Asana announced the difficult decision to reduce our force, impacting about 9 per cent of the global team, as part of a restructuring plan intended to improve our operational efficiencies and operating costs and better align Asana’s workforce with current business needs, top strategic priorities and key growth opportunities,” Asana’s chief operating officer Anne Raimondi announced.
The company revealed more details during an earnings call with analysts regarding its second quarter results.
For the quarter ended July, Asana suffered a net loss of A$92.9 million, despite a 51 per cent revenue leap.
“We front loaded many of our customer facing roles this year to build sales capacity and infrastructure for the second half and beyond,” Tim Wan, global head of finance at Asana, said.
“We’ve moderated headcount growth significantly and you’ll begin to see it manifest in the GA and RD expenses first.
“We’ve already slowed headcount growth from 13 per cent sequentially in Q1 to 5 per cent in Q2, showing a change in momentum and highlighting our commitment to expense management.”
Asana forecast a third-quarter operating loss between A$93 million and A$98 million.
