Around 90 of the company’s 400 employees were terminated. Calm, which is based in San Francisco, received a $2 billion valuation in 2020, according to the Journal.
“Regrettably, today we are reducing our overall workforce by 20%,” Calm CEO David Ko said in a memo to employees, according to the Journal. “While some of you will be impacted, all of you will be affected. I can assure you that this was not an easy decision, but it is especially difficult for a company like ours whose mission is focused on workplace mental health and wellness.”
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