Note-taking service Evernote is laying off 54 employees, about 15 percent of its total workforce. Evernote’s CEO says the layoffs are necessary because growth is lagging behind investment.
Evernote CEO Chris O’Neill said it “needs to adjust quickly if any part of its strategy doesn’t match expectations.” It is not known which departments will be responsible for the layoffs. The CEO does say that Evernote will continue to invest in the product development and engineering departments.
Things have been rumbling at Evernote for some time, writes TechCrunch, which reported two weeks ago that the company’s technical and financial executives and the head of human resources have left the company.
A source told TechCrunch that there has been no growth in the number of active users for six years and that the company’s business offerings are not catching on. O’Neill writes in his message to the staff that Evernote has grown by 20 percent in the first half of 2018. The financial position is also said to be stable, he reassures the staff.
Evernote implemented a price increase in 2016 and was discredited because of staff viewing notes.