Walnut cuts 20% of workforce in another round of layoffs
Walnut cuts 20% of workforce in another round of layoffs
The Israeli startup’s team has been reduced by around 50% since it started cutting jobs last year
Israeli startup Walnut, which develops a sales and marketing demo experience platform, is laying off 15 employees, accounting for 20% of its total workforce. Walnut cut 15 jobs also in 2023 and has seen its team fall by around 50% since then, from 120 to 60 people.
The company stated: "Like many high-tech companies in the Israeli and international markets, we regularly adjust our resource distribution and focus on our core operations to better serve hundreds of the largest technology companies in the world. As part of updating our technological focus, we have decided to implement an efficiency process that will affect a small number of jobs in Israel, with the remaining impacts occurring in other countries. Overall, this will affect about 20% of the company's workforce by the end of the process."
Walnut raised a $35 million Series B funding round led by Felicis Ventures in January 2022. The round came just four months after announcing a $15 million Series A, with the company raising a total of $56 million to date.
Walnut’s no-code platform enables customer-facing teams to create customized product demos quickly and efficiently, integrating them into their sales and marketing processes, reducing sales closing time and generating insights.
