Evernote, the renowned note-taking app once acclaimed by Engadget as the "dominant force in note-taking apps," has undertaken a significant workforce reduction and is preparing to depart from the Bay Area, redirecting most of its operations to Europe.
As per a statement from Luca Ferrari, the CEO of Bending Spoons, the Italian app maker that acquired Evernote last November, has recently terminated a significant portion of its workforce in the United States and Chile. This move comes as Evernote prepares for its relocation to Europe.
Evernote laid off most of its U.S. staff https://t.co/UAlhzGidlr— Layoffs.fyi (@Layoffsfyi) July 8, 2023
What are the Evernote’s Offerings?
Evernote provides users with multiple options for their subscription plans, including a free tier of service, an individual subscription plan priced at $14.99 per month, and a professional subscription plan available for $17.99 per month.
What are the reasons for Layoffs and shifting to Europe?
Ferrari said in the statement, due to the “significant boost in operational efficiency that will come as a consequence of centralizing operations in Europe.” Most of the company’s “operations will be transitioned to Europe,”
Within less than six months, Evernote carried out another round of layoffs, following the earlier elimination of 129 employees. The spokesperson revealed to TechCrunch that these decisions were driven by the company's lack of profitability, deeming it unviable in the long run.
The European Technology Company Bending Spoons acquired Evernote in November 2022 for an undisclosed amount. Mr Ferrari added that he “saw the potential” in Evernote, which has struggled in recent years after being a Silicon Valley startup darling a decade or more ago. Throughout the years, Evernote has faced multiple instances of layoffs, including occurrences in 2015, 2018, and 2022. Additionally, Ferraris said that he was “confident that Bending Spoons can bring Evernote to new heights.”
The way forward
Ferrari Said “Our plans for Evernote are as ambitious as ever: Going forward, a growing, dedicated team based in Europe will continue to assume ownership of the Evernote product,” Further to the statement, he added, “This team will also be in an ideal position to leverage the extensive expertise and strength of the 400-plus workforce at Bending Spoons, many of whom have been working on Evernote full-time since the acquisition.”
As a gesture of support to the affected employees, the company will offer a package that includes 16 weeks of salary, a prorated performance bonus, up to one year of health insurance, and assistance with visa-related matters.
While the provided support is commendable, the challenge for Evernote lies in carving out a successful path in an increasingly saturated market, where more contemporary note-taking solutions such as Notion, Obsidian, and Microsoft Loop have gained prominence. Understandably, users of Evernote have valid concerns about the platform's future. It would be prudent for any remaining Evernote users to consider migrating their data to alternative services in the event of a sudden shutdown of Evernote.
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