Coffee chain Third Wave Coffee Roasters has reportedly laid off approximately 120 employees as part of a restructuring initiative, following its recent fundraise.
According to media reports, mid- and senior-level personnel across various departments, including business development, design, sales, marketing, supply chain management, and strategy teams, have been affected.
The restructuring involves retaining only two to three key personnel in most teams. The head of human resources informed affected employees throughout Wednesday and Thursday, with the process expected to continue until Friday.
Employees reportedly express confusion and frustration due to the lack of clarity on the restructuring details and severance pay. Third Wave Coffee Roasters has confirmed the restructuring, attributing it to a strategic review and stating that it impacts less than 10% of the organization.
