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Asana Cuts Staff 9%. Software Sector Layoffs Are Piling Up.

Asana Cuts Staff 9%. Software Sector Layoffs Are Piling Up.

On Tuesday, project management software provider Asana announced “the difficult decision” to cut its workforce by 9% as part of a broader corporate restructuring program. Asana’s cuts follow a flurry of other recent layoff announcements in the technology sector from companies like Meta Platforms (META), Lyft (LYFT), Coinbase (COIN), Twitter and many others, amid a global softening of the macroeconomic environment. In a securities filing, Asana (ticker: ASAN) said the plan is “intended to improve operational efficiencies and operating costs and better align the Company’s workforce with current business needs, top strategic priorities, and key growth opportunities.”