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Sequoia lays off 7 employees in ‘broad restructuring’ of firm

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Sequoia has laid off seven employees from its operations team, which represents one-third of the team responsible for recruiting talent for startups in its portfolio. The layoffs come after the exit of veteran Jamie Bott, who led the company’s talent team.

This move is seen as a broader restructuring effort by Sequoia, likely in response to the changing dynamics in the venture capital industry, which has seen a slowdown in activity since early 2022.

Sequoia’s Chief Operating Officer, Sumaiya Balbale, mentioned that the talent needs of the company had increased significantly during the peak years of 2021 and 2022, prompting the workforce to be doubled. However, with the freeze in startup hiring, a correction in workforce size became necessary.

Balbale described the job cuts as part of an effort to move away from providing support on a one-to-one level to a more scalable approach to meet the needs of founders.

The VC industry as a whole has been facing challenges, with some firms downsizing staff and trimming expenses due to funds drying up. Sequoia’s changes come as Roelof Botha takes over leadership of the company, and it undergoes other changes, including decreasing management fees for limited partners and offering early withdrawal options from its evergreen fund.

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