Reports from inside sources reveal that Smartsheet is implementing workforce reductions to realign resources with long-term business objectives. The Bellevue-based company expressed empathy for affected employees and assured them of severance packages and continued healthcare support during this transition period.
While Smartsheet did not disclose the exact number of employees affected, previous layoffs in October affected more than 120 individuals. The company, with a global workforce of over 4,000 employees, is part of a trend of tech companies in the Seattle area implementing cutbacks.
This wave of layoffs in the tech industry includes Amazon, T-Mobile, Expedia, and Meta, all facing the need to address pandemic-related challenges and economic uncertainties by reducing headcount. The impact of AI tools is also a contributing factor to these workforce reductions.
Founded in 2005, Smartsheet went public in 2018 before reverting to private ownership in a multi-billion dollar deal with Vista Equity Partners and Blackstone in 2025. The company’s flagship product is renowned for assisting businesses in organizing and monitoring work tasks, boasting over 16.7 million active users and generating annual revenues exceeding $1 billion.
Competing in a dynamic market for productivity and work management software, Smartsheet faces stiff competition from established players like Microsoft, Google, and Salesforce, as well as emerging challengers such as Asana, Monday.com, Airtable, and ClickUp.
Following the retirement of former CEO Mark Mader, tech veteran Rajeev “Raj” Singh assumed the role of CEO in October. Singh, known for his previous leadership at Concur and Accolade, brings a wealth of experience to guide Smartsheet through its current phase of growth and transformation.
Prior to Singh’s appointment, Sunny Gupta, co-founder of Apptio, briefly served as acting CEO. Gupta, a prominent figure in the Seattle tech scene, now holds the position of executive chair at Smartsheet.
RELATED: Tech boom turns to gloom in Seattle as economic fears swirl amid layoffs
