Estonian-founded customer relations management (CRM) form Pipedrive is laying off a little over 140 staff globally, portal Delfi reports. Around half of the layoffs will affect the company's Tallinn and Tartu office.
Agur Jõgi, Pipedrive CTO, said the decision had been a difficult one and had followed thorough consideration of various alternative options, but current economic realities made the layoffs unavoidable, Delfi reports (link in Estonian), citing business daily Äripäev.
The company has had to change aspects of its business and product strategies as a result of the deteriorated economic situation globally, he added.
Pipedrive is one of Estonia's half-dozen or so "unicorn" firms, meaning companies with a market capitalization of at least one billion US dollars, a status which it attained in late 2020.
It employs over 1,000 people worldwide and its CRM software solutions are used by approximately 100,000 clients around the world, Delfi says.
Editor: Andrew Whyte
Source: Delfi, Äripäev