Pebble is laying off 40 employees, around 25% of its workforce, CEO Eric Migicovsky told Tech Insider.
The company has raised a mix of debt and venture capital totaling $26 million on top of its $20 million Kickstarter campaign for the Pebble Time, but it wasn’t enough to prevent lay-offs.
Migicovsky said Pebble is “in this for the long haul”, and that it wants to be careful.
Pebble is going to focus on the health and fitness aspects of its wearables, which Migicovsky said is what most users are interested in.
Through a partnership with Amazon, Pebble will also launch its smartwatches in India next month.