Namely, a former high flier, slashes staff as demand for its HR software dries up in the pandemic – TechCrunch
Namely, an eight-and-a-half-year-old, New York-based company that sells payroll, talent management and other HR services to mid-size businesses across the U.S. via subscription software, has let go of upwards of 40% of its employees.
The cuts are across the board, from high-ranking staffers, including a CFO who was brought on almost exactly two years ago, and a chief security officer who has spent just the last year with the company, to its entire customer success team.
Namely CEO Larry Dunivan says the company had reduced executive pay five weeks ago, hoping to avoid layoffs, but that the coronavirus and its impact on the business made that impossible.
In a call earlier today, Dunivan — who joined Namely last summer — declined to specify exactly how many employees were just let go. Prior to the cuts, Namely employed roughly 400 people, according to LinkedIn.
He did talk about the