Commercetools, a headless commerce platform that gained traction during the pandemic, is experiencing a downturn, leading to significant layoffs of about 10% of its staff. The company has not met aggressive sales growth targets, prompting CEO Andrew Burton to initiate restructuring in key departments like marketing and sales. The company will also see executive turnover, including the departure of its chief revenue officer and CFO. This shift reflects the evolving landscape of e-commerce as companies adapt post-pandemic.
"While we've made meaningful progress and our business continues to grow, over the last several quarters we haven't fully achieved our aggressive revenue growth targets," CEO Andrew Burton said.
"Significant restructuring will be carried out in marketing, sales, and internal operations such as HR and finance," according to the memo.
Commercetools has laid off dozens of employees over the last few weeks, including around 10% of staff earlier Wednesday, after failing to meet its sales growth targets.
TechCrunch has learned and confirmed that Commercetools is making a number of executive changes, including parting ways with its chief revenue officer and CFO.
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