It’s usually at least mildly newsworthy when a large or particularly hot company cuts a chunk of its workforce, as UiPath did this week when it cut about 400 jobs from its total of about 3,200.
But the timing and optics of this particular round of cuts from this particular company was jarring, especially with the WeWork debacle still fresh on people’s minds.
The company added ProcessGold and StepShot to its stable earlier this month, after a $568 million funding round earlier this year pushed its total funding to over a billion dollars and a $7 billion valuation.
And then came the job cuts.
The timing and price tag of the event makes for poor optics (even though $8 million wouldn’t pay 400 people for more than a few months), but on its face it’s also rather alarming that a company freshly flush with gobs of cash would need to make cuts of any kind, let alone to a chunk of its workforce.
Shouldn’t UiPath be on a breathless hiring spree right now?