Olo lays off workers following Thoma Bravo acquisition

Company Overview - Olo has confirmed layoffs, stating that these strategic organizational changes will help focus resources on key customer areas [1] - The company has experienced multiple rounds of layoffs in recent years, including a 11% workforce reduction in 2023 and a 9% cut in the following year, despite being profitable [2] Industry Context - The layoffs at Olo follow its recent acquisition by Thoma Bravo, which closed last week [2] - Other restaurant tech companies, such as Restaurant365 and Grubhub, have also made significant layoffs, with Restaurant365 cutting about 9% of its staff and Grubhub eliminating over 500 roles after its acquisition [3] - The broader restaurant industry has seen substantial layoffs, with companies like Starbucks laying off over 1,000 workers and others like Bloomin Brands and Dine Brands also reducing their workforce [4]