Evernote, the note-taking app, recently reduced its workforce significantly. The company’s current owner, Bending Spoons, a Milan-based app development firm that acquired Evernote last November, announced on Friday the layoffs of the majority of Evernote’s US and Chilean employees. The announcement follows the company’s plans to shift a large portion of its remaining operations to Europe. This decision comes on the heels of the dismissal of 129 Evernote employees less than six months prior, as the app had been experiencing a prolonged period of unprofitability. The precise number of employees impacted by this most recent workforce reduction was not disclosed by Bending Spoons. However, a quick review of LinkedIn suggests that numerous software engineers, some with several years at Evernote, were among those dismissed on Friday.
Luca Ferrari, the CEO of Bending Spoons, communicated to SFGate that the company’s vision for Evernote remains undeterred, and that the responsibilities for the Evernote product will be transferred to a growing, dedicated team based in Europe. Ferrari further commented that this team is ideally positioned to draw on the considerable expertise of the over 400-strong workforce at Bending Spoons, many of whom have been working full-time on Evernote since the acquisition. In addition, Ferrari assured that those employees impacted by the layoffs will receive a severance package that includes 16 weeks of salary, a prorated performance bonus, and up to one year of health insurance coverage.
Ferrari, however, did not elaborate on the strategy the company intends to implement to position Evernote favorably in a competitive market, where rivals like Notion and Obsidian already hold strong positions. Regardless of Bending Spoon’s future plans for Evernote, it’s clear that this development represents another downturn for a once highly popular note-taking app. Evernote was an early favourite during the App Store boom and achieved a peak valuation of $1 billion. But the recent years have seen the company decline, largely due to a lack of focus and numerous software issues.
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Frequently Asked Questions (FAQs) about Evernote Relocation
Who announced the workforce reduction at Evernote?
The workforce reduction at Evernote was announced by Bending Spoons, the Milan-based app developer that acquired the company last November.
What does Bending Spoons plan for Evernote’s future?
Bending Spoons plans to move most of Evernote’s remaining operations to Europe and intends to have a growing, dedicated team based there to assume ownership of the Evernote product.
What will happen to the laid-off Evernote employees?
The laid-off employees from Evernote will receive a severance package that includes 16 weeks of salary, a prorated performance bonus, and up to one year of health insurance coverage.
How does Evernote plan to compete in the market with rivals like Notion and Obsidian?
Bending Spoons, Evernote’s owner, has not disclosed the specific strategies they plan to employ to make Evernote competitive in a market dominated by rivals like Notion and Obsidian.
What was the valuation of Evernote at its peak?
At its peak, Evernote enjoyed a valuation of $1 billion.