Subscription beauty service Birchbox has cut an additional 30 employees, the company's founder and CEO, Katia Beauchamp, announced in a blog post on Tuesday. The news comes five months after the startup cut 15 percent of its staff (50 of its total 300 employees)--a move that Beauchamp now says was too "conservative."
Employees were cut across a variety of departments, and all received compensation packages, a spokesperson for Birchbox tells Inc.
"We are one of the fortunate companies that is growing and has supportive investors, but today's climate demands growth companies make changes to show a more immediate path to profitability, conserve cash in uncertain times, and rethink cost structures in order to sustain and build a company that can both survive and thrive in any market," Beauchamp wrote.
"We thought we did that in January, but the cuts were not deep enough to get us where we need to go in the time frame we want," she added.
The layoff is one in a series of measures that Birchbox is taking to scale back. The company, which was once valued at $485 million, also halted plans for at least brick and mortar shops, as well as its expansion into China, after failing to raise more capital in 2015.