---
schema_version: "secwatch.filing_event.v1"
accession: "0001600641-23-000157"
form_type: "8-K"
ticker: "DIBS"
cik: "0001600641"
company_name: "1stdibs.com, Inc."
filed_at: "2023-06-28T23:59:59+00:00"
generated_at: "2026-06-13T15:32:06.208252+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# 1stdibs cuts 20% of workforce; CTO Ross Paul terminated as part of restructuring

## Summary
- Workforce reduction of ~20% of global headcount announced June 28, 2023.
- Estimated restructuring charges of $1.9M-$2.2M, substantially all in Q2 2023.
- CTO Ross Paul terminated effective June 30, 2023, with severance per Executive Severance Plan.
- Paul entered advisory agreement through Dec 31, 2023, with continued equity vesting.
- Advisory agreement provides for change-in-control benefits under certain conditions.

## SEC filing metadata
- accession: 0001600641-23-000157
- form_type: 8-K
- ticker: DIBS
- cik: 0001600641
- company_name: 1stdibs.com, Inc.
- filed_at: 2023-06-28T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.05, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1600641/000160064123000157/0001600641-23-000157-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1600641/000160064123000157/dibs-20230626.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001600641-23-000157
- JSON: https://secwatch.observer/filing/0001600641-23-000157.json
- Plain text: https://secwatch.observer/filing/0001600641-23-000157.txt

## Key facts
- Executive change
  Ross Paul was terminated as Chief Technology Officer at 1stdibs.com, Inc..
  - Action: terminated
  - Role: Chief Technology Officer
  source text: On June 26, 2023, the Company determined that the employment of Ross Paul, the Company’s Chief Technology Officer and a named executive officer, would be terminated as part of the above-referenced workforce reduction, with such termination effective June 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1600641/000160064123000157/0001600641-23-000157-index.htm
- Restructurings & Charges
  1stdibs.com, Inc. announced a restructuring with charges of approximately $1.9 million - $2.2 million (approximately 20% of the Company’s current global workforce).
  - Type: restructuring
  - Charge: approximately $1.9 million - $2.2 million
  - Headcount: approximately 20% of the Company’s current global workforce
  source text: On June 28, 2023, 1stdibs.com, Inc. (the “Company”) announced a workforce reduction designed to reduce operating costs and realign investment priorities. This reduction is expected to represent approximately 20% of the Company’s current global workforce. As a result of the reduction, the Company estimates that it will incur approximately $1.9 million - $2.2 million in non-recurring restructuring charges, consisting primarily of employee severance and benefits costs.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1600641/000160064123000157/0001600641-23-000157-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.