HubSpot plans to eliminate about 660 jobs, reducing its workforce by 7% as the software company puts greater focus on AI-powered products.
The cuts primarily affect middle-management positions, according to CEO Yamini Rangan’s message to employees. Rangan said the layoffs were not the result of AI automating the affected jobs, according to LinkedIn News.
Cuts Target Middle Management
The workforce reduction comes as HubSpot adjusts its organization around its product priorities. The company has not said that the eliminated positions will be replaced by AI.
HubSpot’s move follows a difficult period for its stock. The company experienced its largest single-day stock decline in more than 12 years in August.
The cuts represent one of HubSpot’s larger workforce reductions as it continues investing in AI-powered offerings.
