Meditation App Maker ‘Calm’ Lays Off More Than 20% Of Workforce

The meditation app maker Calm is laying off about 22.5% of its approximately 400-person staff. Chief Executive David Ko cited changes to the company’s “investment thesis behind every project”, and decisions that would help stabilize the business, according to a memo sent to staff. The memo did not further elaborate on the reasons for the layoffs.

Calm, which raised money at a $2 billion valuation in 2020, reigned as the top stress-reduction app for at least the last three years through May of 2022, according to Data.ai, a mobile analytics firm. Founded in 2012, Calm . . .