HubSpot is cutting nearly 660 roles, about 7% of its workforce, according to CMSWire. CEO Yamini Rangan announced the cuts Oct. 6 in a memo to employees. HubSpot's board approved the restructuring plan Oct. 1, according to an 8-K filing.
HubSpot will replace Hub-based product teams with teams that own customer outcomes: generating demand, winning deals, delighting customers and scaling growth. Each team will own the full customer journey. HubSpot will also cut management layers.
The memo does not say whether Hub packaging or pricing will change. HubSpot expects $65 million to $75 million in charges, mostly in the fourth quarter. Rangan wrote that the cuts are not driven by AI efficiencies.
Source: cmswire.com