The embattled mattress startup is the latest brand to announce layoffs during the COVID-19 crisis, releasing a third of its HQ staff and closing its Europe business.
Casper is the latest direct-to-consumer startup to announce significant layoffs in the midst of the COVID-19 crisis. Today, the six-year-old brand laid off 78 employees from the corporate team, which makes up 21% of its total corporate workforce. The company is also winding down its European operations and its 31-person headquarters in Germany, according to a person familiar with the matter. The other employees who were laid off came from various departments, including marketing and product development. According to a statement from the company, this will result in “more than $10 million in annualized savings, and are part of the company’s overall focus on achieving profitability.” Greg Macfarlane, Casper’s CFO and COO, will depart the company in May.
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