Earlier today, GitLab CEO Sid Sijbrandij sent the following note to GitLab team members.
Dear GitLab team members,
I have made the decision to reduce the size of our team by 7%.
This was a very difficult decision, and I understand this may be unexpected to some of you. I’d like to give some context about how we arrived at this outcome.
The current macroeconomic environment is tough, and as a result, companies are still spending but they are taking a more conservative approach to software investments and are taking more time to make purchasing decisions.
I had hoped reprioritizing our spending would be enough to withstand the growing global economic downturn. Unfortunately, we need to take further steps and match our pace of spending with our commitment to responsible growth.
We are sad to say goodbye to talented team members who have played an integral part in GitLab's journey to date, and I am thankful for their significant contributions. I am sorry to see them leave the company because of this decision.
Everyone leaving has received a meeting invitation from a manager who will provide additional information. We are committed to helping you through this challenging time in the following ways:
Pay through a transition period: Continued payment to team members who are leaving through the transition period, which may vary by region.
Severance: A single payout equal to four months base salary, and payments will be made according to local processes and timing requirements.
Equity: We’re accelerating vesting through 2023-03-15 and removing the vesting cliff for team members who have been granted equity and have been with us for under six months.
Healthcare: Based on location and current benefit options previously selected by team members, healthcare premiums will be covered for up to six months, where possible. Modern Health for mental health support will continue for all team members for six months.
Hardware: Team members can keep their hardware and home office equipment subject to our security protocols.
Career support: We will provide outplacement services with a third-party vendor, including coaching, resume building and guidance, and job-seeking support.
We know this can be an unsettling experience for team members who are staying. It can be hard to see valued team members leave, and we will host a series of Ask Me Anythings (AMAs) to answer your questions.
Sid
