Affordable Smartwatch maker, Pebble announced the layoff of their 25% workforce. The Pebble announced that the 25% of their staff would lose their job from the company. This decision was made days after their Competitor; Apple reduced the prices of Apple watch by $50/-.
The Pebble is famous for making affordable smartwatches for their customers. Pebble started the trend of smartwatches. But now, to continue working with less capital, they need to reduce their staff significantly. In an interview with Tech insider, Pebble CEO Eric Migicovsky said that Pebble is reducing its workforce by 40 employees, and planning for a careful approach for next year. With a low on funds and capital, the company has to innovate in the gadgets and marketing strategy. In a talk with Tech Insider reported, Eric Migicovsky revealed that Pebble has raised over $25 million over last eight months.
Just two days ago, Apple slashed the price of their smartwatch, Apple watch prices by over$50/- from their launch price. Now, the Apple watch is priced at almost $299/- and the most expensive smartwatch from Pebble is for Just $249/-. This decision of Apple made them closer to the Pebble Smartwatches price range. Having Apple as the main competitor is a hard thing for Pebble. So, the decision of saving money to innovate and eat of the market share over next few months is a good decision by Pebble CEO.