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It’s layoff ‘season’ at Phil Libin’s Airtime
- Airtime, the video startup founded by Evernote's Phil Libin, has laid off 25 employees, constituting almost half of its team.
- There were surprises among staff as they were previously told there would be no cuts and were anticipating fundraising.
- The company introduced a seasonal employment structure with regular evaluations and decisions on who returns each season.
- Airtime's tools include AirTime Creator for simultaneous presentation and on-screen appearance and AirTime Camera for customized looks in meetings.
- The recent layoffs frustrated staff as their 'season' was expected to last until the end of June, but they were informed of an earlier end date.
- Leadership made the layoff decisions during meetings at a Palo Alto restaurant, with employees informed on June 3.
- The company cited a change in focus for the larger layoffs, stating that 33 of 58 employees were asked to return for the next season.
- Airtime has raised $235 million in funding and made acquisitions like Mexmix and Macro, but employee departures were also noted.
- The company operates with a seasonal structure, allowing mutual commitments between employees and the company regarding employment continuity.
- Staff reported challenges with Airtime's product uptake, high user acquisition ad spend, and Libin's focus on his restaurant over day-to-day decisions.
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