Pebble, the company that marked the most successful Kickstarter event in tech history, is laying off 25% of their staff. Recently confirmed by Techradar, the tech giant announced that they are firing 25% of its workers. This is about 40 employees of their staff. We are not exactly sure why CEO Eric Migicovsky of Pebble did this, but we have a couple of possible reasons and explanations, which we will explain below.
Migicovsky says that Pebble is doing this for “in this for the long haul”, and that it wants to be careful. But we suspect that this isn’t the real reason why Pebble is doing this. Recently, the Apple watch price has also dropped, due to not many people not wanting to buying their product. FitBit stock has also went down. The wearable market in general is not doing so well this year. In conclusion, the most likely reason why Pebble is firing employees is due to the fact that Pebble is not selling there products as well as hoped.
This article was also created by James Fu and Koji Hirai.