Klaviyo is the latest Boston-area technology company to whittle down its workforce as the industry continues to cool. The marketing-tech firm, which provides analytic and communication tools for companies trying to better understand consumer behavior, cut 140 jobs Wednesday.
Klaviyo had about 1,200 employees last year, with about 650 of them local, according to information the company provided to the Globe in mid-2022 , though its website says it has more than 1,500 employees worldwide. This suggests that the layoffs represented approximately 9 to 12 percent of its workforce.
“Our focus is supporting the departing Klaviyos who made meaningful contributions to the company,” said public relations director Lacey Berrien in a statement.
Some of the impacted employees took to social media to announce their new job-hunting status.
Former customer success manager Lucy Acevedo wrote in a LinkedIn post that employees “were quickly told in a 15 minute meeting that ‘after careful consideration, we have made the difficult decision to reduce our overall workforce in an effort to reduce redundancy and recalibrate Klaviyo’s areas of investment for the future.’”
Founded in 2012, Klaviyo has grown to become one of Boston’s largest privately held tech companies, reaching a valuation of more than $9 billion in 2021 . Last August, Shopify, a Canadian e-commerce company, invested $100 million in Klaviyo as part of a larger partnership.
According to the company’s Q4 2022 business trend report , released in January, Klaviyo analyzes data from more than 250 million shoppers across more than 100 countries.