Clubhouse, the popular social audio platform that gained popularity during the Covid-19 pandemic, has announced that it is laying off more than half of its staff. The company is said to be scaling back by over 50%, and its founders, Paul Davison and Rohan Seth, expressed their sadness in having to let go of many talented and dedicated colleagues.
The impacted employees will receive severance pay and continued healthcare coverage for the next few months, along with their company-issued laptops to help them research and apply for new roles. The founders also plan to build Clubhouse 2.0 with a smaller and leaner team.
Investors including Andreessen Horowitz and Tiger Global valued the app at $4 billion, but the company has struggled with restructuring, laying off a portion of staff last year.
