GitLab to cut 7% of workforce, or about 130 employees, sending shares down
Publishing timestamp: 2023-02-09 14:51:59
Summary
GitLab is reducing its headcount by 7%, or about 130 positions, due to the tough macroeconomic environment. Shares dropped about 12% on news. The company is offering severance and health-care premiums for up to six months. GitLab joins other tech companies that have laid off staff in recent months due to the contracting macroeconomic environment.
Sentiment: NEGATIVE
Tickers: UBS, SIE-DE, UBSG-CH, AMZN, NVDA, META, MSFT, GTLB, GS, GOOGL, SIEGY,
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