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What just happened? Squarespace, the website-building, hosting, and domain registration company that's been around for almost 25 years, is laying off 19% of its employees. Its CEO has avoided linking the layoffs to AI – something we've seen many times recently – though he did say that the organization's operational model must "adapt for the modern era."

Squarespace founder Anthony Casalena said in a memo announcing the cuts that the company needed smaller teams, more player-coaches, and a simplified organizational structure. About 300 workers will be let go, with the product and engineering teams most affected.

The CEO emphasized that the layoffs were not an exercise designed to reach a financial target, but a restructuring based on how Squarespace needs to work going forward.

The memo notes that Squarespace's core business has been to allow people to establish an online presence even if the technology made doing so a challenge. But it acknowledges that the tech has changed enormously over the last 12 months.