GoDaddy has become the latest big tech firm to announce huge layoffs, with hundreds of employees set to be let go.
The company said last week it is laying off 8% of its staff. This equates to more than 500 job losses, based on 6,800+ the company’s web site reports.
Employees at three brands are most-affected — Media Temple, Main Street Hub and 123 Reg — with the former two also set to disappear as independent brands.
Main Street Hub is social media marketing firm from Texas that GoDaddy acquired in 2018. Media Temple is a hosting provider from California that GoDaddy acquired in 2013.
123 Reg is a UK-based registrar brand that was part of Host Europe Group until GoDaddy bought it in 2017. GoDaddy says the brand will remain, but some roles will be terminated. Staff will find out who’s staying and who’s going before the end of the month.
GoDaddy CEO Aman Bhutani blamed growth hindered by the “uncertain macroeconomic environment” for the moves.
The company, which reported revenue up 7.2% at $1.03 billion and a $100 million profit in the third quarter, is due to report its fourth quarter and full-year earnings this evening.