Irish gifting platform &Open is preparing to cut a small number of roles from its global workforce, sources said, as continuing economic uncertainty sparks caution.
Nine roles are understood to be at risk at the Dublin-based company, while the founders and executives will also take a pay cut until the reality of the new economic conditions is clear. It equates to less than 10 per cent of its total workforce, which stands at more than 100 people.
The Dublin-based company is in consultation with staff over the job cuts. For those leaving the company, &Open will offer three months’ pay in lieu of notice, keeping staff on the payroll until at least the end of February. It will also pay for unused leave.
Founded in 2017 by Ciara Flood and Jonathan and Mark Legge, &Open’s corporate gifting platform is aimed at making it easier for brands to send curated, responsibly sourced gifts to customers to boost loyalty and engagement and improve customer retention. It handles the process on behalf of the sender and offers data to clients through a reporting dashboard that outlines the performance of each campaign, inventory and feedback from recipients.
The company raised $26 million (€25 million) in June to expand its operations and open a US office.
