Event management platformhas laid off nearly 35% of its workforce—around 115 employees—across operations, as the firm is undergoing ‘restructuring’, Moneycontrol has reported.
The laid-off employees were reported to have been given paid severance packages and other placement support to ensure they find new jobs.
YourStory has not independently verified the report.
In July last year, the San Francisco-based firm, which also has a presence in Bengaluru, had laid off nearly 12% of its staff.
Hubilo, founded by Vaibhav Jain and Mayank Agarwal, was reported to have had around 330 employees before the latest round of layoffs.
Founded in 2015, Hubilo is a smart virtual event platform that strives to bring experience and intelligence together. It hosts interactive online events and connects attendees globally with its virtual event management software.
In 2021, the company raised $125 million in a Series B funding round led by Alkeon Capital, with participation from Lightspeed Venture Partners and Balderton Capital.
Edited by Swetha Kannan