Cofounder and chief executive Will Ahmed told the Globe in May that Whoop had over 700 employees (including co-ops and interns) and was on track to have close to 1,000 by the end of the year. As part of the recent cost-saving measures, Whoop has paused its co-op program.
Whoop joined Hydrow, another Boston fitness-tech company, in laying off employees this week. Hydrow, which sells a $2,495 rowing machine, slashed 35 percent of its staff on Monday. Over the past few weeks, tech firms including DataRobot, Notarize, Cybereason, and Desktop Metal have also laid off employees.
“Unfortunately, more layoffs are coming,” said Jeff Bussgang, a partner at Boston-based Flybridge Capital who is not an investor in Whoop or Hydrow. “With a higher cost of capital,