AppFolio cuts 9% of workforce (149 employees) citing need for profitability

APPFOLIO INC

Workforce reduction of nearly 9% affects 149 employees across all departments.
Severance includes up to 3 months transition pay plus 2 weeks' pay per year of service.
Company cites rising costs and lack of profitability entering 2023 as reasons.
CEO Shane Trigg takes accountability; measures follow earlier cost cuts like real estate shrink.

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