https://layoffcheck.com/companies/spendesk Layoff and WARN notices reported for Spendesk. en-us https://layoffcheck.com/companies/spendesk#2024-09 https://layoffcheck.com/companies/spendesk#2024-09-632 Wed, 18 Sep 2024 12:00:00 GMT Paris-based spend management unicorn Spendesk laid off around 150 employees in September 2024, reducing its headcount to just over 300 people. The cuts followed a slowdown in growth that prompted a strategic shift away from what CEO Axel Demazy called a "growth at all costs" mindset toward what he described as "reasonable growth." Demazy, a former BCG partner who replaced cofounder Rodolphe Ardant as CEO in 2024, also deployed AI internally to automate repetitive tasks and reduce operating costs. The company had raised more than 250 million euros over its lifetime and reported annual recurring revenue above 50 million euros. The restructuring proved effective: Spendesk reached profitability in the first quarter following the cuts.