Xsolla attributed the layoffs to a slowdown in growth below the 40% level

Alexander Agapitov, CEO and founder of Xsolla, held a press conference related to the dismissal of 150 employees. He explained the layoffs by the fact that the company stopped showing 40% growth.

At around 20.15 Moscow time, Alexander posted a link to a Google Meet on his Facebook page. In the post, he said that he would hold a press conference for the media at 20.30. However, as a result, everyone could take part in it.

During the press conference, Agapitov did not submit any statement in connection with the situation. He simply invited everyone interested to ask him personally questions about the current situation. He explained this approach with a large number of personal questions from the press.

As a result of the conversation , it turned out:

• the layoffs were due to the fact that the company stopped showing 40% growth;
• in order to compensate for this, it was decided to reduce 10% of the wage fund;
• the criteria for dismissal were the least low indicators for the company;
• the biggest cuts are in Perm due to the fact that salaries there are much lower than in the USA;
• personnel cuts could amount to about 40% of the company;
• layoffs primarily affected line employees, not top managers;
• when analyzing the effectiveness of employees, the time they spent in git\IDE was not taken into account.

In conclusion, Alexander noted that next time he would send invitations to a press conference personally to media representatives, so that the situation would not repeat itself when everyone could ask questions.