Prosus-Backed Airmeet Fires 80% of Tech Team in Major Restructuring

• Airmeet has laid off around 80% of its tech team in its third restructuring in 16 months.
• The layoffs also impacted employees from the product and design teams, totaling around 30 employees or 20% of the workforce.
• The restructuring is part of a cost-cutting measure as the startup struggles to increase revenue post-pandemic.
• Airmeet is shifting focus to a new AI-powered product, moving away from its event management platform.
• The impacted employees will receive severance packages based on their notice periods.

Source: Inc42