In the past year, Fab has slashed its staff from 750 people down to 300.
Yesterday, CEO and co-founder Jason Goldberg wrote a blog post about what it’s been like to lay off staff, and change direction with the company.
“Have you ever been clinging onto a rocket ship, then cut the engines at full speed, and then tried to fly again?” writes Goldberg. “That’s what we’ve been going through at Fab the past months.”
Fab started as a flash sales site, but has since pivoted to focus on selling high-end products.
The transition hasn’t been easy.
“I’ve had VC after VC tell me that they have basically assumed Fab is going to die; for how in the world can a company possibly survive 3 rounds of layoffs and cost cuts as we’ve had?” says Goldberg.
How do you keep employees inspired when your company is in really terrible shape?
Goldberg asked employees to email him an answer to the following question last week:
Why are you here?
He posted the best responses on his blog, Betashop. Here they are below: