Another workspace startup lays off staffers - alternative data paints a scary picture for Knotel
The comparisons to WeWork are mounting for Knotel (PRIVATE: KNOTEL), the workspace startup that is also facing some layoffs and cutbacks. Two dozen or so people are gone from one of Knotel's NYC offices, although the reporting originally set that number to 33% of the entire company's headcount.
Part of what's ailing Knotel, according to a Pitchbook report, is plummeting leasing activity with the startup. According to our data, exactly 16 people have left the company in 2020, and we envision a future where that number continues to decline. That's because...
Knotel isn't hiring that much these days. Openings have dried up, dropping 75% since a year ago. Either they've hired everyone they wanted to get, or there isn't much room for new employees because of the "restructuring" going on behind the scenes. If you want to read about what we wrote a few months ago on Knotel, you can check that out here.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.