HubSpot cuts nearly 660 jobs, about 7% of staff, in a reorganisation it says is not driven by AI efficiencies

HubSpot is cutting nearly 660 jobs, about 7% of its workforce, under a restructuring plan its board approved on 1 October. The company disclosed the plan in a Form 8-K filed with the US Securities and Exchange Commission on 6 October, with the chief executive's memo to staff attached as an exhibit.

The filing estimates charges of approximately $65 million to $75 million, mainly cash costs for severance, notice-period pay, employee transition and benefits, most of them in the fourth quarter of 2026. HubSpot expects the role eliminations to be substantially complete by the end of the first quarter of 2027. It reaffirmed its guidance and will leave the costs out of its non-GAAP results.

In the memo, chief executive Yamini Rangan describes HubSpot moving from software that helps customers grow to “delivering outcomes for them with AI.” She writes that the company must “fundamentally change the way we are organized to compete and win.” She also writes: “This is not driven by AI-related efficiencies.”

The distinction matters because many companies now cite AI when they cut staff. HubSpot, which sells customer-relationship software with AI agents built in, frames its cut as a reorganisation around an AI product strategy, not as AI replacing the people who leave.

• Confirmed HubSpot's board approved a restructuring affecting about 7% of its workforce, with charges of about $65m to $75m. HubSpot Form 8-K
• Confirmed The chief executive's memo says nearly 660 employees will leave and that the cut is not driven by AI-related efficiencies. HubSpot Exhibit 99.1
• Confirmed HubSpot reaffirmed its guidance and will exclude the restructuring costs from non-GAAP results. HubSpot Form 8-K