Smartsheet cuts 2.7% of its workforce due to 'drastic shifts in market demand'

Smartsheet Inc. (NYSE: SMAR) laid off 85 employees this week, a reduction that included furloughed workers from a few months ago, the company confirmed to the Business Journal. Smartsheet, like several other tech companies, said the layoffs will allow the company to position itself for long-term growth, though it would continue strategically hiring in some areas. “We thank the talented colleagues leaving Smartsheet this week and are committed to providing them support and resources to help in their transition.”