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Web host Squarespace lays off 19% of its employees
TechCrunch • • business
Key Points:
- Squarespace is laying off approximately 19% of its global workforce, equating to around 300 employees, as part of a restructuring to simplify operations and focus on growth priorities.
- The layoffs come amid significant changes in the website-building industry driven by generative AI tools, which allow users to create functional websites with minimal effort.
- Competitors like Wix and Google have invested heavily in AI-driven website design technologies, with Wix acquiring Base44 for $80 million and Google launching its Stitch feature.
- Squarespace has also embraced AI, launching its Blueprint tool in 2024 and announcing an upcoming AI-native platform called Forma.
- Founded in 2004 and public since 2021, Squarespace went private again in 2024 through a $7 billion private equity deal after struggling to maintain strong market interest.
