Flexible workspace operator Convene has laid off 54 employees following an eager expansion.
Convene, which also provides rentable event spaces, fired 34 workers at the company’s headquarters in New York, with other impacted employees working in locations across the city.
“Like many companies, we’ve had to reassess the organizational structure of Convene to best position the business for future growth in an increasingly challenging & dynamic macro environment,” said Ryan Simonetti, CEO and cofounder of Convene, in a recent LinkedIn post.
“Unfortunately, this meant making the incredibly tough decision to say goodbye to a number of Convene team members this week.”
The company has also closed its 50,000 square foot location in Chicago Citadel Center, indicating that these layoffs may be larger than originally reported.
Currently, the company has over 500 employees across its 23 locations in the U.S. and London.
This comes as a huge pivot for the company, particularly as it plans to continue opening new locations in the new year due to demand for flexible offices expected to accelerate in the new year.