A hard decision to position us for the future

Last year, Synapse achieved a significant milestone in our company’s journey by reaching profitability and becoming cash flow positive. This achievement laid a strong foundation for us to build an exceptional team focused on achieving massive scale.

However, the current macroeconomic conditions have begun to impact our clients and platforms, affecting our anticipated growth. Despite our best efforts to avoid it, we have made the difficult decision to reduce and restructure our team in areas that were staffed for unrealized growth or redundancy. This layoff will impact about 18% of our workforce.

We want to express our deep regret for those team members who have been impacted by this decision. We truly value and appreciate the contributions and dedication they have shown to our organization. Their hard work has been instrumental in our success thus far. We are committed to supporting those affected during this transition period.

This decision was not taken lightly. It was made with the long-term sustainability and success of our company in mind. By streamlining our operations, we can enhance our efficiency and better serve our customers and partners. And, by remaining profitable and cash flow positive, we can safely invest our resources to continue future growth and innovation.

While this is a challenging time, we remain confident in the underlying fundamentals and potential of our business. The steps we are taking will position us for continued success and allow us to adapt to the evolving needs of our clients and the market.

We deeply appreciate the ongoing support and trust that you, our valued clients and partners, have placed in us. We want to assure you that we remain fully dedicated to providing you with exceptional service and delivering on our commitments. Our team is more determined than ever to deliver for you.

If you have any concerns or questions, please do not hesitate to reach out to us. We are here to listen, address any inquiries, and provide the support you need.

Thank you for your understanding and continued partnership.