Elementor Acquires Strattic

Elementor Lays Off 15% of Workforce, Citing Rising Inflation and Impending Recession

Posted by WP Tavern on June 21, 2022 at 1:45 pm
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With inflation rising and the unemployment rate falling, economic forecasters are predicting an impending recession in 2023. A few major WordPress companies are tightening their belts ahead of what many believe will be an unavoidable economic downturn. Elementor announced that it is laying off 60 employees, 15% of its workforce, in a tightly controlled release of information to Globes, an Israeli business newspaper. Co-founder and CEO Yoni Luksenberg gave the following statement: “Today, we make the difficult decision to say goodbye to some of our colleagues. We are in a changing global situation with rising inflation and a pending recession. To ensure the efficiency and effectiveness of our business, we are restructuring and optimizing our workforce, becoming more efficient in certain areas and continuing to grow our product offerings, to secure the company’s long-term success, growth and business goals as we plan for 2023 and beyond.” The Globes article states that “most of the layoff will be in the company’s marketing department and will apparently not effect engineers and development staff.” Elementor has raised a total of $65M across three funding rounds since 2017, but the Globes’ statement fueled speculation about why their marketing department had such a large number…

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