At MacPaw, we’ve always believed in pushing boundaries – that’s why we’ve invested deeply into our growth, products, and technology so we can deliver exceptional value for our customers. Even amid the full-scale russian invasion in 2022, we remained committed to supporting our team, community, and Ukraine. Through impactful initiatives, we provided millions of dollars in aid for Ukrainian defenders and civilians, implemented extensive workplace safety and support measures, and kept hiring Ukrainian talent.
However, as we continue to grow, we’re also facing significant challenges that require us to make adjustments to ensure our long-term stability and resilience. After analyzing our recent financial results, it’s clear that our expenses are significantly exceeding our capabilities. We are actively responding to these pressures by making difficult but essential decisions to protect MacPaw’s future. This includes eliminating budgets that no longer align with our strategic focus, limiting hiring to critical roles, and cutting spending on non-essential activities. Despite our efforts, these measures alone are not enough to stabilize our financial situation.
After thoroughly reviewing our options and carefully considering our path moving forward, I am announcing the difficult decision to let go of 20% of our team members. This was the hardest decision I’ve ever had to make as a leader, but these measures are necessary for our company’s financial health and the long-term future of MacPaw. By acting swiftly, we still can provide substantial support to the affected employees during their transitions to new opportunities.
To our entire team, I want to express my deepest gratitude. Your dedication and hard work have brought us this far, and for that, I am immensely grateful. For those who will continue with us on this journey, I acknowledge that the road ahead will be challenging. We will need to regroup and work diligently to navigate these obstacles. However, I am confident that with our collective effort and unwavering commitment, we can overcome these challenges and emerge stronger.
Our core business and mission remain unchanged. We are as dedicated as ever to what matters most: supporting our customers, caring for our team, and staying true to our long-term vision. We believe these steps will help us remain resilient and prepared for the future.
Thank you for your understanding and resilience as we face these challenges together.
Oleksandr Kosovan
MON, NOV 11, 17:00 Kyiv Time
