The company has grown from 200 to 1,000 employees in the past five years and has faced changes in the industry and global environment. Despite the layoffs, Grammarly's financial position remains strong and the company sees a massive opportunity in the AI sector. The company joins a list of tech firms, including Google, Microsoft, and Snapchat, that have conducted layoffs recently. In November 2021, Grammarly raised $200 million in funding at a $13 billion valuation, with plans to invest in its AI technology.
Key takeaways:
- Grammarly is laying off 230 employees worldwide as part of a business restructuring aimed at focusing on the AI-enabled workplace of the future.
- The layoffs are not a cost-cutting measure and affected employees will receive a minimum of three months’ base pay and health insurance benefits.
- Grammarly has grown from 200 to 1,000 employees in the past five years and sees a massive opportunity in the power of AI.
- Other tech companies including Google, Microsoft, Snapchat, eBay, PayPal, DocuSign, Okta, Block, Discord, Twitch and Duolingo have also conducted sizable layoffs recently.