The fine folks at Path have laid off 20 percent of its employees today in an attempt to “realign the company” with its priorities for Path 4.0, according to Valleywag.
In response to question about layoffs as a bad sign for a startup in growth mode, the Path spokesperson said, “It’s just a realignment of the company. I wouldn’t read anything into it. The business is strong we have 20 million users.”
Not really sure what else to say at this point. Word on the street has the company looking for more investors, which is pretty surprising since the company how 20 million users, and sticker packs people can buy. I mean, surely they should be able to raise some funds from that.
I say this every time I write about Path. It’s the exact social network I’ve always wanted. I just can’t get over the company’s history.