Israeli startup, Walnut, internationally recognized for their innovative sales and marketing demo platform, recently announced they would be laying off 15 employees. This significant reduction constitutes a cutback of 20% of their total workforce.
This decision is largely due to Walnut’s shift in business strategy, intended to streamline operations and focus more acutely on key market sectors. The company continues to reassure their existing client base that service quality will not be impacted by this change.
Despite this period of transition, Walnut is firm in their commitment to enhance their services further. The employees affected by the cutbacks were expressed sincere gratitude by the company, and reassurances were made to aid them in transition.
Over the last year, Walnut has systematically reduced its workforce from 120 down to 60 employees.
Walnut’s workforce cutback amid strategic pivot
As part of ongoing restructuring efforts, the company has had to make substantial internal adjustments to manage decreasing resources efficiently.
This challenging but necessary measure is intended to better align Walnut’s staff numbers with the company’s operational needs. Streamlining centers on upscaling productivity in service to a growing international clientele.
Interestingly, Walnut was founded by Yoav Vilner and Dani Friedland and recently secured substantial funding. A successful $35 million Series B funding round spearheaded by Felicis Ventures, following an earlier $15 million Series A round, brings Walnut’s total capital up to an impressive $56 million.
Being a leading name in the tech sector, Walnut’s ingenuity shines in their no-code platform vision. This allows customer-centric teams to efficiently build personalized product demos, enhancing sales and marketing productivity. This tool shortens sales closing times and facilitates the collection of valuable customer insights.
