Pebble cuts 25 % of its employees

Pebble cuts 25 percent of its staff

It isn’t straightforward being an indie smartwatch maker in a sea of tech giants. Pebble CEO Eric Migicovsky has revealed to Tech Insider that his firm is chopping forty jobs, or 25 % of its workforce, this week. Merely put, the “cash is fairly tight” — whereas Pebble has raised $26 million over the previous eight months, the funding money is not as forthcoming because it has been up to now. Migicovsky is fast to emphasize that Pebble is in it “for the lengthy haul,” although, and has an concept of the place wearable tech goes inside 5 to 10 years.

How nicely Pebble is faring out there is not clear, although, and that is what issues in the long term. The agency talked about that it bought over 1 million smartwatches by early 2015, however that was earlier than each the launch of its Time watches and the arrivals of massive rivals just like the Apple Watch and a lot of the present Android Put on roster. The startup has to persuade each you and would-be buyers that it may possibly survive in such a crowded market, and that is no imply feat when its rivals are a lot, a lot bigger.