On Wednesday, the $1.28 billion customer messaging software startup Intercom announced that it was letting go of 39 out of 649 employees globally.
In addition, it’s relocating 47 roles to Dublin to cut costs.
Founded in Ireland and headquartered in San Francisco, Intercom had become a fast-growing Silicon Valley startup.
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The $1.28 billion customer messaging platform Intercom announced to employees Wednesday that it’s letting go of 39 people globally and relocating some roles to Ireland.
The layoffs impacted about 6% of its 649 total employees amid the ongoing coronavirus pandemic. In addition, 47 roles in the marketing and R&D teams were relocated to Dublin, where Intercom was founded before moving its headquarters to San Francisco. This transition is meant to help reduce costs, a spokesperson said.
Intercom’s news is the latest in a slew of job cuts and furloughs affecting the enterprise tech industry, which is reeling from the coronavirus-related economic downturn. The layoffs hit a bunch of different teams including customer support, workplace experience, recruiting, talent operations, IT experience, and content design.
Intercom has raised over $240 million from tech founders like Facebook’s Mark Zuckerberg, Twitter’s Jack Dorsey, Slack’s Stewart Butterfield, and Stripe’s Patrick Collison, as well as firms like Bessemer Venture Partners and Kleiner Perkins. It became a unicorn with its most recent round of funding in 2018.
Last year, scandal rocked the company after The Information’s Zoë Bernard reported that Intercom CEO Eoghan McCabe had previously been the subject of two HR investigations for sexual harassment. Two complaints were reportedly filed against him from alleged incidents in 2014 and 2015. The report prompted Intercom to launch an internal investigation into how the company had handled the two previous investigations.
McCabe came up with the idea for Intercom’s business at a coffee shop in Dublin: He wanted to bring the same type of personal customer experience that he received in the cafe to customers online. While Intercom’s founders began the company in Ireland in 2011, they quickly relocated to Silicon Valley, where it became an incredibly fast-growing startup.
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Source:: Business Insider