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Jawbone cuts 15% of staff, closes New York office to pare costs
[NEW YORK] Jawbone, the maker of wearable fitness trackers, cut about 60 employees, or 15 per cent of its global workforce Thursday, and closed its New York office as part of a larger reorganization to pare expenses.
The Beverly Hills, California-based company also reduced its operations in Sunnyvale, California, and Pittsburgh.
"The restructuring was necessary in making our organiSation more efficient, streamlined, and well structured for future growth," spokeswoman Mimi Huggins said in an e-mail. No further changes are planned, she said.
The reductions come after the company, which also makes speakers and Bluetooth headsets, had already eliminated 20 workers in June. Jawbone has faced competition from other players in the growing wearable-technology industry, such as Alphabet's Google, Apple and Fitbit. In August, the startup was removed from the IDC's list of the top five wearables vendors.
The cuts were first reported by TechCrunch.