Posted on August 03, 2022
A Hubilo spokesperson confirmed the development with Inc42 and said that the layoffs were part of its strategy to boost business.
“On July 7th, Hubilo let go of approximately 12% of its workforce to pursue a strategy that will allow it to lay the foundation for the future of virtual, live, and hybrid events. We greatly value the contributions of all our team members,” the spokesperson said.
The startup claimed that it is offering compensation packages and benefits, accelerated and vested stock options, mid-year bonuses, PTO/bank of leaves payout, retention of laptops, and job placement assistance to laid-off employees.
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