Former staff on the meditation app Calm could must cease and take a deep breath.

On Thursday, the corporate’s CEO, David Ko, introduced layoffs impacting 20% of its roughly 400 staff in a memo to employees seen by Gizmodo. That 20% interprets to round 90 staff. The memo comes amid a rising wave of tech trade layoffs that’s left tens of 1000’s of tech employees scrambling for brand new jobs.

In his memo, Ko mentioned the choice got here in an effort to deal with development and effectivity.

“I can assure you that this was not an easy decision, but it is especially difficult for a company like ours whose mission is focused on workplace mental health and wellness,” Ko mentioned within the memo. “We did not come to this decision lightly, but are confident that these changes will help us prioritize the future, focus on growth and become a more efficient organization.”

Calm, typically thought of a frontrunner within the more and more crowded mediation app market, attained a valuation of over $2 billion in 2020 and has reportedly acquired funding assist from Goldman Sachs and Salesforce CEO Marc Benioff, according to Bloomberg. Ko mentioned the corporate will maintain an all arms assembly on Friday the place they’ll talk about the layoffs in additional depth.

Calm’s disagreeable information has develop into par for the course for tech firms. Layoffs have touched almost each nook of the trade, affecting every part from AI and fintech startups to cryptocurrency corporations and nearly every part in between. Just previously few months, Netflix, Klarna, Substack, Tesla, and Coinbase have all introduced issued layoffs of varied sizes. Overall, Crunchbase estimates some 34,000 tech employees have misplaced their jobs in 2022. Unemployment claims throughout the U.S. economic system typically, in the meantime, are at an eight-year excessive.