BUSINESS

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BUSINESS

Clubhouse is laying off 50% of employees

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Layoff

Clubhouse, the social audio app that gained popularity during the pandemic, is laying off over 50% of its workforce to "reset" the company.

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Not cost-cutting

Clubhouse co-founders did not attribute the layoffs to cost reduction. They said they are under "no immediate pressure" to cut costs.

3

Fading interest

Clubhouse, once valued at $4 billion, has been losing ground due to a decline in interest since late 2021 as people returned to normal life.

4

App's evolution

Clubhouse said the app has to "evolve" to find a place in the post-COVID world. They couldn't achieve that "effectively" with the current team size.

5

Remote work

Remote work made it difficult for the company to communicate strategies or make quick changes. This also played a part in streamlining the operation.