HubSpot announced that it is cutting 660 employees, representing about 7% of its workforce, according to a letter released by the company on Tuesday.
CEO Yamini Rangan wrote in the letter that the company is refocusing its organization as more customers adopt artificial intelligence and expectations for software providers evolve.
“We need to move faster, stay closer to our customers and focus our resources on our highest priorities to set ourselves up for success in this next chapter,” Rangan wrote. “That requires difficult choices about how we are organized.”
She said the company plans to reduce management layers to speed decision-making and move it closer to employees doing the work.
However, Rangan clarified that the layoffs are not being driven by AI replacing workers, and are not a cost-cutting effort.
Instead, she said the changes are intended to better align HubSpot’s structure, investments, and resources with its long-term strategy.
It is unclear if any Massachusetts-based employees were impacted.
This is a developing story. Check back for updates as more information becomes available.
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