Earlier this year, all looked rosy at Buffer. With such a fast-growing team, evolving product, and devoted audience, the company seemed destined for success.
But one day, Buffer’s CEO Joel Gascoigne and the rest of the management team realized their math didn’t add up. If they didn’t make some tough decisions, Buffer would be out of money in just five months. After running the numbers, the path seemed clear: They had to lay off 10% of their staff.
In this episode, Joel shares how he navigated this tough decision, pivoted after realizing he made a mistake, and restored the company's faith in their vision through radical transparency.